I only read mainstream financial newspapers for their latest double-speak and to see how markets react to such nonsense. Time after time, greedy suckers would be lured into the trap and get slaughtered by the insiders.

How can one explain mainstream media reports such as “market rallied as price of oil surges on global demand” on some days and on others “market tumbles as crude oil spikes”? Then we have yet another analysis that states, “markets surge as oil price tumbles as inflation worries take a back seat” to be contradicted a few weeks later, “market moves in tandem with crude’s upward trend”.

The inflation worries have evaporated from the radar screen! 

In the weeks before GM Bankruptcy, we have the following analysis: 

Dow falls: "Stocks Decline On GM Bankruptcy Fears" (May 27 Forbes)

Dow falls: "Rally hopes shelved as the likelihood of bankruptcy for GM shook Wall Street" (May 28 Wall Street Journal)

But when GM filed for bankruptcy on Monday, the world cheered and the market surged!

Dow soars: "Stock Market Shrugs Off GM Filing" (June 1 Reuters)

The Dow gains over 200 points!

If this is not madness, what is?

To me, this is a sure sign of market manipulation by the financial power brokers and anyone who does not have a ringside seat is going to get slaughtered as sure as the sun will rise tomorrow.

When bad news can be turned into good news and start a rally, this is another indication of desperation and or worse, a grand scheme to divert attention from another more fatal financial scandal.

America is broke, bankrupt.

Obama has already admitted that America has no money in the coffers.

Bernanke’s FED has stated that they will print as much money as needed to purchase US treasuries to finance bankrupt USA.

This year alone, US must find creditors willing enough to lend US$1.8 trillion to fund current deficits as a result of the massive bailout.

USA must also find the moneys to repay debts amounting to US$14.5 trillion and the interest due on that colossal sum.

UK is in the dog house!

Europe is groping in the dark.

Malaysia depends on these huge markets for her exports.

These markets have collapsed. Vanished to cyberspace!

We will be lucky if these markets are back to positive territory in five years, and even then, they will not be back to pre-crisis levels.

Bank Negara’s analysis is wrong. EPU’s analysis is wrong. Treasury’s analysis is wrong.

So, who can Najib trust, Omar Ong and his new version of the 4th floor boys?

Pakatan Rakyat and Anwar are indulging in By-election politics and have not the faintest idea how to manage the country.

They are good at throwing stones and hoping one or two might just hit the target. But they are living in glass houses.

I cry for Malaysia.



P.S. My views are my views. I don’t represent anyone. They are given without fear or favour.

Those who propagate the rumours that I influence Tun Dr. Mahathir Mohamad are much too kind and generous as to my intellectual capabilities.

Tun Dr. Mahathir Mohamad is an intellectual giant and a former prime minister and has no need of any “advice” from me.
 
To those who read my articles (especially Najib’s boys) please banish from your thoughts that what I write is a reflection of Tun’s views and or that I write under his direction.

As a practicing lawyer of 31 years and a citizen of Malaysia, I believe that I am entitled to express my own views concerning the country.

Visit my website for my views and visit Tun’s blog for his views. If there are similar opinions on some issues, let me assure you that it is mere coincidence.

I have the highest respect for Tun and my failings (if any) in expressing my views should not be attributed to Tun.

If anyone who does not like my style of writing and or my calling a spade a spade, please refrain from visiting my website. I did not stuff it in your throat! 

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