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Tuesday, November 25, 2014

Ku Nan To Wahid : Urban Malays In Deep Stuff

The Minister in the PM's department Ibn Waraq Wahid Omar came out and said that the median household income in Malaysia was RM5900 per month.  Many people, including me, found this very hard to believe. 

It only makes sense if you add Syed Mokhtar's income, Ananda Krishnan plus a few other billionaires' incomes.

A couple of days ago Ku Nan the FT UMNO boss said the following:
  • lowest price for housing unit in KL is about RM300,000 
  • average urban Malay can (only) afford below RM150,000
  • Malays in FT own only 93,000 units of property, 21.7%
  • most cannot afford sky-high prices of houses & apartments in KL
  • Umno and gomen need to urgently address their plight
  • bitter fact faced by Malays & needs to be addressed
  • > 42,000 or 90% of those applying to rent or buy are Malays
  • average monthly income of Malay family in FT was RM2k - RM3k a mth
  • classifies most of them as urban poor
  • Umno does not want to see situation continuing into future  (Oops !! Too late)
  • widening ownership and narrowing income of Malays with other races is part of agenda
And what exactly is Ku Nan's suggestion to solve this problem? 
  • i.  strengthening the position of Islam
  • ii. strengthening Barisan Nasional
  • iii. reaching out to the youths and professionals and 
  • iv. solving the people's problems
Well, almost all the Islamic countries are either collapsing or entering into the Club of Doom. So I dont know exactly how much 'strengthening the position of Islam' is going to help.

As for the BN, well the BN has been in power since 1957.  Since Dr Mahathir left the country has been going down, down and down.

Yesterday I was buying super excellent nasi kukus from a warong. The nice guys at the warong straight away started talking politics to me. The younger guy just blurted out, 'susah nak buang kerajaan'.  

These guys were wearing shorts. So they were not exactly the PAS type (tabley pakai shorts, tunjuk aurat). 

Trying to project the image of a law abiding citizen,  I just said, 'kena tunggu pilihanraya'.

The younger guy replied, 'lama sangat'.  

I did laugh. It was funny - at that time. But people are not stupid. They can see. Most of all they realise that they are in hardship. This is the biggest bugbear. People realise they are in hardship.

Do you know that despite the high house prices there are people who are ready and willing to buy houses. But the banks have been told by Bank Negara to tighten credit. 

Never tighten credit for housebuyers. Tighten credit for housing developers. 

As it is now, housing developers can still get loans. So they build houses. Then the houses cannot be sold becaue Bank Negara has tightened housing loans for house buyers.  So houses do not get sold. The gomen is sleeping on this one.

So gomen policy creates hardship for the economy. When that happens the money does not flow. The economy drags down and grinds down. 

And the first to suffer are the wage earners. Those on piecemeal rates (ada). Those who are daily paid (ada). The SMEs. It goes on down the line.

As for Ku Nan's points ii and iii, well I dont know what that means.

Alamak !! Gaduh Pasal Khalifah Lagi !!

Al Qaeda in Yemen has released a video recording where their spokesman says that they do not agree with the khalifah in Mosul - that ISIS fellow.

The Chechen jihadis  have also refused to acknowledge the Mosul guy as their khalifah. The Chechen jihadis have their own 'ameer' or 'khalifah'.

In Nigeria that Boko Haram psycho has also declared himself a khalifah. There are more than three declared khalifahs in the world today.

I would declare myself a khalifah too, but that might attract the attention of the religious dunggus we have in this country.  So I will not. I am happy to just be a messenger  : ))

Oh, almost forgot. What would the world be without morons.  Here be the moron.

Monday, November 24, 2014

The Impending End of Japan ?

Disclaimer : This was sent to me by someone. I do not necessarily agree with this argument but this type of prediction about Japan  is becoming more frequent.  

My view is this : Japanese industry is still top notch. Japanese education is still top notch. Japanese society is very resilient. I will not dicount Japan yet. Japan has been in the "doldrums" for about 20 years now. But in that time, Toyota has become the No. 1 car manufacturer in the world.  Anyway here is the story:

Mighty Japan will soon fall like Sakura leaves, and Europe will be just like Disneyland for honeymooners, both no longer the superpowers that we once knew, all due to wrong policies that started less than 10 years back.

This is not a prediction, this is NOW.
Many things are wrong with Japan, not only is the thinning Young Generation less competitive, but they have become a nation of consumers rather than producers.
Japan is now World No. 1 in terms of public debt. Japan’s debt has reached ONE QUADRILLION yen (do you know how many zeros is that?).  Close to 11 trillion US dollars, or 11,000 billion US$, or 11,000,000,000,000 US$, a whopping 214% of the GDP. 

That is more than Zimbabwe or Greece. Last time we heard of “starving billionaires” in Zimbabwe, soon it will be Japan, because the yen is practically worth nothing.
And guess what, the current government led by Shinzo Abe keeps printing more money faster than the machine can print via QE (quantitative easing) which they learned from the US. They extend its already unprecedented target of expanding the monetary base by 60 to 70 trillion yen a year. I think we need to send our printers there to help them print more yen.
Abe simply wants to drive the yen to Zimbabwe dollar level so that Japan can compete with China and Korea, or to simply pay the bills. But alas, Abe is wrong. It’s not Japan’s products that are expensive, but we no longer see their appeal.
SONY, once Japan’s proud electronics powerhouse, has its net loss widened to 136 billion yen ($1.2 billion), Panasonic Corp posted net losses exceeding 750 billion yen ($7.4 billion) for the second straight year, Sharp plans a shake-up as loss widens to $5.35 billion….. And there are many more such examples.
While in China and South Korea all sectors are booming, Japan’s pie is getting smaller and smaller, and it is a wonder if they can still exist and survive.
It does not end here, when one country’s economy weakens, the same goes for the culture. Asia, once crazy about Japanese manga and animation, now flock to South Korean K Pop. Even Japanese teenagers go nuts over South Korea pop stars, leaving their own stars in the dust.
How about disasters like Fukushima? Japan is unwilling to reveal to the public and the world what’s going on in Sendai. How much nuclear waste has already leaked out to the seas and contaminated neighbouring countries like China, Korea or even US? There is a joke that Japan is so poor they now use DAISO tape to stop the leak.
With no clear income and extremely high public spending at home, Japan is a time bomb in Asia. There is almost NO solution for Japan at this hour. Abe tries all ways and means to bring money in e.g. Japan now officially waives visa requirements for visitors from Indonesia, Australia, China, Japan, South Korea and Russia beginning January 2015. Japan is raising their GST from 5% to 8%, and is learning from Singapore to open casinos for the masses.
Japan is doomed; they are just buying time with QE. The next generation will suffer from Abenomics. And who can save Japan when it implodes? The good friend USA?  America will think twice when bailing out Japan, as not only US itself is pretty broke, but bailing out Japan would drag the entire US economy down, again.
I foresee Japan collapsing before the end of the Obama administration. It looks like China won’t need to attack Japan after all, Japan will implode by itself sooner or later.

So if you see Japanese properties on sale in newspapers recently, some even priced better than Singapore properties, you might wonder, is it a good buy. Well, I think in two years, you can get them at half the price.

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