Emergency – The Global Debt Bomb Has Exploded! Malaysians Are Drowning In Debt As Well.
By Matthias Chang – Future Fast-Forward
As far back as 2015, every household, corporation, banker and politician were in a state of irrational exuberance. To be hugely indebted was chic – as having great credit scores. Bank Negara was conducting the Monetary Philharmonic Orchestra’s Debt Symphony to rave reviews. International credit cards’ partnership with Malaysian banks marketed new ways to satisfy the insatiable hunger to accumulate the latest and fanciest by the mere swipe of chip-embedded plastics.
The bomb was ticking. No one cared, the music was playing and the good times were supposedly rolling.
But, the indispensable tool of Predictive Analytics and Critical Path Analysis showed otherwise. I had warned Tun Mahathir Mohammad (Tun) in 2015 (at the Perdana Closed-Door Dialogue), in 2017 (in a “eight eyes” presentation at the Perdana Foundation) and twice in 2019 (in “four eyes” presentations at the Perdana Foundation) but Tun ignored my advice, in preference to DAP’s blinkered vision as personified by Lim Guan Eng (LGE), the then Finance Minister, to maintain the artificial cohesion within the PH coalition and the insecure politicians.
What I wrote seems so prescient in the current circumstances…..
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