Since August 2007, I have been analyzing the various measures adopted by the US FED, the central banks of Europe and the Bank of England. I have also kept track of almost every public statement made by Bernanke, Paulson, the Governor of the Bank of England and the President of the ECB.

I am appalled by their failures to prescribe the painful medication and surgery needed to treat the disease and the total intellectual bankruptcy of their advisers – the Nobel Laureates in economics for not owning up to their sordid role in releasing the most virulent financial bug into the financial system. This bug has ravaged the entire system which has been sustained in the last four decades by a drug addiction – the constant use of fiat money.   

Equally disappointing was the stupid statement from Malaysia’s 2nd Finance Minister, following the bailout of distressed banks and other financial institutions by the US and European central banks. He boasted that the West was now doing what Malaysia had implemented during the 1997 financial crisis. This idiot ought to realize that the US and the European central banks were prescribing the wrong medication to the patient.

A few days ago, our Prime Minister commented that the growth rates achieved by our economy are indicative of clear skies ahead.

The credibility of a political leader and that of a government is so critical a factor in creating confidence and stability that careful and sound analysis must be provided on any major issues affecting the wellbeing of the country.

It does not bode well for the ruling government if the Prime Minister says one thing, one day and gives a different perspective another day on the same issue and or his pronouncements are contradicted by his cabinet colleagues and other members of his regime.

You be the judge.

I like to call a spade a spade.

If a person gambles at the Genting Casino in Malaysia or at the Sand Dunes in Las Vegas, he is a gambler regardless of his stature in life and or his qualifications – those that have a long list of alphabets e.g. PhD, MBA, Msc, Bsc etc.

But there is a class of gamblers that deserve our utter contempt and derision because they have applied their god-given skills to gambling and to advising the casinos, specifically the global derivative casino instead of more productive endeavours.

The most abhorrent of this class of gamblers are the Nobel Laureates in economics, these scumbags who have been responsible in creating various risks models that enabled their partners in crime – the fat cats in Wall Street, City of London and elsewhere – to defraud pension funds, municipals and retail investors through derivative trading of esoteric financial products.

I read with horror the latest initiative by the government to stimulate the economy to overcome the global financial crisis that has now impacted on Malaysia.

Had the government listened to my warnings since December 2006 and prepared a comprehensive strategy in anticipation of the Global Financial Tsunami impacting on Malaysia, there would be no need for the patch work, ad hoc remedies now unfolding.

In the headlines of the Business Times Monday, it was reported that the government plans to use its assets to tap private sector funds to increase revenue that will support the economy amidst slower growth. The Director General of the Economic Planning Unit, Tan Sri Dr. Sulaiman Mahbob said that the monetisation approach will feature open tenders involving both the private sector and government linked companies to “maximise returns” to the government.

Assets identified thus far to implement the scheme are inter-alia, the Rubber Research Institute mammoth land bank in Sungai Buloh, as well as tracts of land in Jalan Cochrane and Jalan Ampang Hilir in Kuala Lumpur. These are the crown jewels of the government.