Sunday, September 30, 2012

Malaysian Budget 2013 - Pakatan Rakyat Election Propaganda

I don't know if others (like me ) see or feel the same but I had no interest in the 2013 budget.

Why?

The BN government has always proven to be guardians of all Malaysian's economic welfare as far as budgets are concerned.

It is the business and financial community, local and foreign, who have the greater interest in budgets, rightly so, as budgets are indications of it's policies and directions which impact on these communities towards the economy.

Therefore, when politicians comment and depending on their credentials and motive, you take these comments with a pinch of salt. That's putting it mildly.

Constructive criticism is always welcome. But when politicians especially leaders, of the opposition Pakatan Rakyat, talk more like morons you question their intellect and credibility.

For example, Tony Pua although not a leader but with some credentials, who came out with some figures and facts, which only makes you figure.

Firstly, I refer to Malaysiakini copycat, The Malaysian Insider's report of the budget by Tony, "Budget 2013 proof Malaysia falling into debt crisis as income slows, says MP" and Malaysiakini "Budget bashing dessert served at Pakatan dinner" on PAS president Hadi

For both these two, lets look at some available information which they conveniently do not and will not disclose.

Regarding deficits, the US National Debt and Deficit History, "The real risk from government debt is the burden of interest payments. Experts say that when interest payments reach about 12% of GDP then a government will likely default on its debt."

And where does Malaysia stand on interest payments? In "Malaysia - interest payments on external debt," interest was at O.76 %, "Interest payments on external debt (% of exports of goods, services and income) in Malaysia was 0.76 as of 2010. Its highest value over the past 36 years was 9.27 in 1986, while its lowest value was 0.76 in 2010"

As for Interest payments on external debt (% of GNI), "Interest payments on external debt (% of GNI) in Malaysia was 0.84 as of 2010. Its highest value over the past 40 years was 5.69 in 1986, while its lowest value was 0.61 in 1970".

Note: The UN Alternative Definitions/Indicators: Gross domestic product (GDP) can be used as a denominator instead of GNI. Also present value of debt can be used instead of total external debt as the numerator. Please read it's Relevance to Sustainable/Unsustainable Development.

Tony mentions Spain and Hadi, for dramatic effect, mentions war ravaged Germany and Japan.

Where do these countries stand on their budget deficits?

As a comparison from an interactive "General Government Debt as Percent of GDP by Country" sourced from IMF, Malaysia is at 57.61%, Japan's deficit stands at a whopping 238.66% while Germany is at 77%, and Spain at 75.1%.

For those PAP, DAP and Singapore fans, the Republic's deficit is at a bubbly 93.0%.

Let's look at another perspective which may explain why deficits are not a single determining factor as an area of concern, the current account balance.

The current account balance as a percent of GDP (current account to GDP) which is the current account a country has in percentage of its Gross Domestic Product, "Current Account to GDP" and what it shows for Japan and Germany.


And for Tony Pua, Spain.


For us Malaysians, Malaysia and for DAP supporters, Singapore.


Thus, for Hadi's information, Malaysia is doing very much better than Germany and Japan in the current account balance as percent of GDP. Hardy ha, ha to you

Secondly, as for the other moronic leaders as reported by the Malaysiakini, let me bash their comments for dessert.

Lim Guan Eng, ""Even a 14-year old can see that it is not a budget address but a campaign speech""

By Lim Guan Eng's logic Penang and Selangor, and please stop making those exasperating claims, both these states should benefit more from the budget than other states. That's what people should expect if, god please forbid, DAP takes over Putrajaya. We all know who's the boss.

Any primary school kid can truly see, by your baseless sensational claims and comment, the real Mr CAT Lim , Cocky, Arrogant Tokong Lim.

For your's and Mat Sabu's nitwit analogy, nobody in his right mind would target good people for slander. Only idiots, like CAT Lim and mad Sabu, not in their right mind, do not target evil people. It goes for and with familiar territory

As for the biggest moron and leader of the pact, Anwar Ibrahim, mouthing from prepared scripts, which is as common as problems he now says exist, is a result of his actions and inactions in his tenure as Minister Education and Finance. So, he should know.

At least he admits being a great pretender.

In closing, while these morons claim that PM Datuk Seri Najib is using budget for the elections, their hollow blusters are nothing more than using the budget as propaganda for the same elections.

In the word's of Malaysiakini's Premesh Chandran, Pakatan Rakyat propaganda ala Joseph Goebbels, from horses' mouth.

1 comment:

Snuze said...

I totally adore you, Freddie, for never failing to cut through the bluster and showing the cracks in the Opposition's arguments.

I knew that every time I visit your blog I'm going to learn something new. hee!