The Wall street still striving the way to improve the financial status.
The survival of Malaysia from the systemic collapse of the whole world's financial system is something should be admiring for every countries. Back again with the hot topic. This evening, i have read the article written by Tun Dr Mahathir, Former Prime Minister of Malaysia titled The Financial Turmoil & Malaysia. What's so interesting about?? Let's take look...
When the Government withdrew the subsidy for oil the pump price increased by 40 per cent. The immediate result was to increase the prices of a wide range of food, goods and services commonly needed by the people. In other words the purchasing power of the people had been reduced. Since then the price of oil had been reduced three times. But the prices of food, goods and services have stayed up.
So, What is that supposed to mean???Geezz...well it is true that It was the right decision to reduced the price of oil but do you think does it really work if the current prices of needed items still the same. I am not here to protest but to throw out my opinion because i believed the government should emphasize the reduction of the basic needs NOT the price of oil ONLY. Economic experts have debated the crucial part of increasing the price of oil is the tremendously increase the price of the basic needs. Let's take a look further..This is interesting part.
But where does the money come from? From nowhere. The Government and the banks, including the Federal Reserve Bank conjured up the money from nothing. If you ask yourself where do the US700 billion Dollars come from when you know the United States' Government has to borrow US1.5 billion every day, you will find no answer. Is the US Government holding US700 billion Dollars in its treasury just in case it has to bail out the banks? Not likely when it cannot even make ends meet, when it has twin deficits.
So, That's how it looks. It seems that United states government has play the role in making this kind of "dramatic" scene about the financial turmoil as we can see how US700 billion is withdrew from the US treasury and at the same time make a debt around US1.5 billion per day. Most of the outsiders have questioned how far this bailout can continue to gain the people trust. Accept @ not??that makes me think further. Well, it backs to the mismanagement of the credit and the worse financial plan that ever make. Hope Malaysia can find a way maintain the financial status by not depending much to America & Europe. Now only questions that we gain here NOT the solution..huhu..i'm also confused. (:P) For more information, visit here