Deeper Debt

By Martin Jalleh

  1. #1 by monsterball on Wednesday, 17 October 2012 - 7:54 pm

    Why worry…Najib can keep on printing money…and our Ringgit will depreciates and he can blame it on world crisis economy.
    With the Bank Negara Governor saying we can withstand all sorts of economical crisis…is a signal for Najib to do as he likes…as if Malaysia belongs to Umno B.
    Have we not read……seen and experienced it all.
    So many new corruptions exposed….not one interest Najib to comment…as if all are rumours…including Auditor General yearly report.

  2. #2 by Bigjoe on Wednesday, 17 October 2012 - 8:10 pm

    With reference to Martin Jalleh’s earlier highlight of RapidKL lost making operation, someone should highlight that the same can be expected of KVMRT when it comes into operation. There is no way the KVMRT will be profitable EVEN with their property plus revenue model. The RM40-50billon debt or more that will be incurred by KVMRT must be paid off by the taxpayer and in reality Govt debt just like the debt of the RapidKL will be paid off by taxpayer also..

    The truth is its the norm for MRT projects to be subsidised by the govt and even public transport in general..The experience of HK, Singapore are the exceptions.

    Hence any illusions that the govt debt in Malaysia could anyway be reduced under a UMNO/BN govt anytime in the near future is simply hallucination..Truth is its likely if we get into a major slowdown within forseeable future, the govt finances will be in dire strait from pump priming and we will look just like Greece.

  3. #3 by Godfather on Wednesday, 17 October 2012 - 10:28 pm

    What are you talking about Martin Jalleh ? The number is now RM 170 billion and rising. By the end of the year, with all the PTPTN, MRT, Prasarana deals in the market, the number might just touch RM 200 billion. All contingent liabilities as though these entities don’t have to pay even when it is clear they have no means to pay.

  4. #4 by raven77 on Wednesday, 17 October 2012 - 11:47 pm

    Labour left Britain bankrupt and Thatcher had to clean up the mess in the 1980s……Britain never really recovered…….Malaysia may not recover from this mess…

  5. #5 by dagen wanna "ABU" on Thursday, 18 October 2012 - 9:24 am

    Yup all of us would soon be waddling and sloshing about in debt, in sheeet, in radioactive by-products and in toxic/chemical waste.

    Lets ABU – the only way out.

  6. #6 by sheriff singh on Thursday, 18 October 2012 - 9:37 am

    We are heavily in debt but our ‘leaders’ seem to think our economy will continue to grow and grow indefinitely so we will be OK. But one big hiccup, like the one in 1997, will definitely sink us this time. We are like a big bubble ready to burst.

    But wait. Bank Negara still has RM 450 billion or so untapped, unused. Nor Mohd is still around isn’t he? Maybe it might be wiser and safer to let George Soros manage this money for us. Better a Jew than Najib, Nor or that Maha fellow.

  7. #7 by dagen wanna "ABU" on Thursday, 18 October 2012 - 12:08 pm

    Dear sheriff,

    Umno’s economic pie can bake itself.

    Ingredients: Not required.

    Patented technique: Owned by Angkasawan.

    So no worries. Just be happy.

    In fact we hv so little to worry about that we can just go on horsing about ala “Satu Umno Style”.

  8. #8 by yhsiew on Thursday, 18 October 2012 - 6:14 pm

    While Malaysia is considered part of the emerging economies driving global wealth, its ranking in the rich list behind countries like Singapore, Hong Kong and Indonesia suggests it will still be caught in a middle income trap. – The Malaysian Insider

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