The Malaysian Premier Najib recently announced that Malaysia is out of the recession and the future looks brighter. Hmm, now…hold on, I thought that’s a bit off because I don’t ever remember (and I may be wrong) that the Government made any formal announcement about the country ever being in the dreaded recession. If that’s true, they have (silently) lied to start with.
“With the positive performance (in the fourth quarter), the worst is over and, yes, I am bullish for 2010, provided nothing unexpected happens in the global economy, like any major power collapse and barring other unforeseen circumstances.” Najib spoke after witnessing the signing of a memorandum of understanding between Risda, Felda and Felcra here yesterday. More >>
This is certainly good news, and is even better if its true, but somehow I sense that it doesn’t jive with the current financial situation all across the Earth. Look at Greece, and a few days back Sweden reported bouncing back into recession >> .
Anyway, it could well be just as reported and that Malaysia is ahead of other countries to leap into economic recovery and I should say “bravo!“
A word of caution though…before Malaysians start jumping into celebrations and lighting the fireworks (they are fond of this), they should be aware of the back-story to the global financial crisis, and the behind-the-scene plots and schemes of the international banksters and the puppet governments they control.
The people have been lulled into a false sense of safety under the ruse of a perceived “economic recovery.” Unfortunately, what the majority of people think does not make it so, especially when the people making the key decisions think and act to the contrary. The sovereign debt crises that have been unfolding in the past couple years and more recently in Greece, are canaries in the coal mine for the rest of Western “civilization.” The crisis threatens to spread to Spain, Portugal and Ireland; like dominoes, one country after another will collapse into a debt and currency crisis, all
the way to America. Read more >>
Most non-delusional people who understand a little bit about basic macroeconomics know that the reason for the present intentional economic crisis is that banks in late 2008 started cutting off credit which then effected everyone and everything in all sectors of the world economy. Read more >>
It is important to note that although officially GDP can’t increase due to inflation as it is inflation adjusted, governments use a trick known as hedonic quality adjustments to hide the real inflation from the people. Since 1967, this trick has allowed the financial oligarchs of the world to rob the middle class slaves silly through massive inflationary price increases, and not matching the true rate of inflation with fair cost of living increases as those cost of living increases are based on incredibly understated inflation numbers. Find out more about the Quality Adjustment Method (QAM)>> used by governments to fool the people into believing everything is OK and back to normal.
William White, former Chief Economist of the BIS, warned:
The world has not tackled the problems at the heart of the economic downturn and is likely to slip back into recession. [He] warned that government actions to help the economy in the short run may be sowing the seeds for future crises.
While government interventions have led global recovery, the market’s reaction to Greece and other indebted countries suggests governments may “have used up all their ammunition” to boost global growth, and their weakness causes a “new source of instability in the system,” says Sebastian Mallaby, director of CFR’s Center for Geoeconomic Studies and a senior fellow for international economics. – Sovereign Debt Dilemma >>
Against these backdrops, and being the skeptic that I am, I have doubts and reservations about any country’s ability to come out of the woods at anytime in the future, not even Malaysia with their ever popular “Malaysia Boleh” (Malaysia Can Deal With Everything) self-confidence prevalent with Malaysians, for that matter.