ECONOMIC ARMAGEDDON: FINALLY THE MALAYS WILL FEEL THE FULL BRUNT OF NAJIB’S MISMANAGEMENT
Worsening Finances, Worsening Ringgit, Worsening Economy Proof Of An Incompetent Government
Ok folks a few days ago I wrote about the gomen’s worsening financial position. I did say I will have more details in a few days. Well here they are.k
The Khazanah clowns have released a report titled ‘The State of Households’. It is a mixture of half truths and untold truths. It is meant for the consumption of a brain dead MO1 and his sycophants.
A sycophant is a self-seeking, servile flatterer; a fawning parasite. I think these descriptions are accurately describe the people around MO1.
The Khazanah guys say that the average household income in Malaysia is RM6000. You mean in Kg Baru (KL), in Sandakan, Taiping, Kuala Perlis, Segamat, Banting, Dungun etc the households enjoy RM6000 average household income? They are either lying or playing with the numbers.
Obvious this RM6000 figure has been derived. It has been concocted.
On pg 5 of Khazanah’s report, it says “between 2012 and 2015 nominal GDP per person has dropped from USD10,432 to USD9,766..” – a 6% drop. So how did average household income hit RM6000 ?
Someone has explained to me that this RM6000 household income includes the BR1M payments which is now at RM1000 a year (??) The BR1M is a political handout. It cannot be construed as regular income or even as income at all. There is no Act of Parliament that ensures that BR1M shall be a permanent disbursement. BR1M is a political gift – meant for buying votes. To include BR1M as part of household income is plain dishonesty.
Then there is also something called “imputed rental”. Those people who live in their own homes automatically get RM500 “imputed rental” added to their monthly incomes. This is bullshit. I believe there is more b.s. like this which has gone into deriving that RM6000 average monthly household income.
There is more.
Now folks, these figures are not meant for you or me.
They are not meant for the kampong folks either who wouldnt know ‘household income’ from a hole in the ground.
This bullshit is meant for the MO1 Moron, the ‘dont know anything’ Cabinet and the top echelons of the “fake MBA, fake PhD” baboon hierarchy that is in power.
These are the clever beggars who make those ‘feel good’ clothes for the Naked Emperor.
Here is some other information that has not been reported anywhere else. You are reading this for the first time. This is from sources, who know their stuff.
Can you recall that I have been harping that the gomen can run short of funds to pay civil servant salaries? Well for the past three quarters (from Sept 2015 until now) the talk is the gomen’s revenue collection has been less than its operating expenditures. This is a very serious situation.
Meaning the gomen indeed has serious cashflow problems to cover its opex (which includes salaries and pensions).
So how has the gomen been covering the shortfall? They have been borrowing.
How much? People say up to RM25 billion over the past year.
From who? Domestic and foreign lenders.
I think the gomen has been squeezing the usual domestic “culprits” ie the tabungs, the wang simpanans and people of that ilk. They are all controlled by the same mamak. Ha ha ha.
Here is a sidebar. Over the past few years the gomen has been trying to reduce its deficit, which has been brought down from 5% to about 3.2% of GDP. Well talk is with this “quiet” borrowing, the gomen’s deficit has ballooned again to 5.2% of GDP.
So to our unthinking media, please ask the gomen to confirm its deficit position. My view is they may not even mention the deficit in the upcoming Budget.
There is more. Last year’s maiden GST collection was RM32 billion. This year’s target is higher (RM39b ??) but this target is not going to be achieved. Folks say the GST collection this year will be about the same or slightly better than last year.
And here is the shocker folks – income tax has collection has actually decreased. The economy is struggling to hit 4% GDP growth this year.
Jobs growth is stagnating. Unemployment, especially among the young and among Malays / bumis is increasing.
The Minimum Wages and GST are really killing the economy and these Super Morons are too damned arrogant to admit that they have made a huge mistake. They would rather stand by and just watch as the economy dies from their incompetence.
When businesses are suffering, workers are getting laid off, when prices have escalated, when cost of living has gone sky high because of the Minimum Wages and GST then most certainly economic activity suffers.
Most certainly less business means less salary payments, less income and less profits which means less tax collection for the gomen.
That is what is happening now. These morons have killed off the economy. Now the gomen does not have enough revenue to meet its operating expenditures.
(I hear they are doing other things as well – like massaging what goes into development expenditure – so that they can justify borrowing money for development expenditure. It is almost impossible to borrow money for operating expenditure.)
The Khazanah report says that one in five EPF members nearing retirement has less than RM10,000 in retirement funds. (Pg 39).
On pg 38 the Khazanah report says the following :
i. in 2012 the bottom 74% of bumiputra savers in ASB had an average of RM611 savings in their accounts.
ii. by 2014, the bottom 72% of bumiputra savers in ASB had an average of RM536 in their accounts
This is a drop of 12% over two years. The Malay / bumi economy is in deep shit. Melayu miskin dulu.
Cont Part 2 ..
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from Malaysia Chronicle http://ift.tt/2c1sCmK
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