HELLO, DUMBO! – BANK NEGARA WAS ACTUALLY VERY SAVVY TO RAISE OPR JUST A DAY (TIME DIFFERENCE) BEFORE THE U.S. FED HIKED ITS RATE – THAT BNM DID SO SHOWS THEY HAD CONFIDENCE THE LOCAL ECONOMY AKA THE MALAYSIAN PEOPLE CAN SHOULDER THE 25BP INCREASE – PRICES HAVE STOPPED SKY-ROCKETING HERE & THE RINGGIT IS NOW STABLE UNLIKE DURING MUHYIDDIN-ISMAIL SABRI REGIMES, WHERE THE EXPECTATION WAS FOR RINGGIT WEAKEN TO RM5 TO US$1- KEEPING THE OPR ARTIFICIALLY LOW VERSUS A RESERVE CURRENCY LIKE THE U.S. DOLLAR IS ASKING FOR EVEN GREATER INFLATION AHEAD – RECKLESS LOOSE MONETARY POLICY IS WHAT LANDED U.S., THE WORLD LARGEST DEBTOR NATION, IN ITS CURRENT DOWNSPIRAL – POPULIST POLICIES & INDISCIPLINE WILL MAKE THE RINGGIT TOILET PAPER – WHICH IS ACTUALLY WHAT THE U.S. DOLLAR ALSO IS, EXCEPT THAT IT IS PROTECTED BY ITS ‘OTHER NATIONS HAVE NO CHOICE BUT TO USE IT’ STATUS – DUE TO WASHINGTON’S HEGEMONIC POLICIES & ACTIONS – THIS IS WHY NATIONS AROUND THE WORLD INCLUDING MALAYSIA WANT TO DUMP THE DOLLAR & JUMP ONTO DE-DOLLARISATION – BUT UNTIL THAT IS SUFFICIENTLY EFFECTED, MALAYSIANS LIKE OTHER GLOBAL CONSUMERS MUST SUFFER FOR THE SELFISHNESS OF AN UNDISCIPLINED U.S. GOVT – SILLY OR NOT, PKR’S ‘AXE OF HIS OWN TO GRIND’ HASSAN KARIM DEMANDS EXPLANATION FROM ANWAR & RAFIZI – BUT UNTIL HE UNDERSTANDS MORE ABOUT HOW COMPLEX IT ACTUALLY IS TO TWEAK AN ECONOMY WITH BOTH MACRO & MICRO-ECONOMIC POLICIES, HE SHOULD STOP TRYING TO BE ‘POPULIST’ & INSIST ON FEEDING THE PEOPLE WHAT COULD BE A POISON PILL DUE TO HIS OWN CARELESSNESS – BTW, HASSAN! HOW MANY B40 PEOPLE DO YOU KNOW ARE RICH ENOUGH TO AFFORD CAR & HOUSING LOANS FROM THE LIKES OF MBB, CIMB ETC – B40 USUALLY NEED GOVT AID, RIGHT? – HIGHER INTEREST RATES CAN REIN IN COST OF LIVING PRICES AS A STABLE RINGGIT ALSO MEANS LOWER MATERIAL COSTS, IMPORTS, ETC – STABLE CURRENCY ALSO GIVES GOVT MORE SPACE TO MICRO-MANAGE THE NEEDS OF THE HARDCORE POOR WITH TARGETED SUBSIDIES, ETC

Business, Politics | May 6, 2023 4:20 pm by | 0 Comments