"Verily, We will not change the destiny of a people until they begin to change themselves."
Surah Al-Ra'ad Ayah 11
Friday, August 2, 2013
Even with an economics background I am always baffled by the analysis of the ever so politically correct economic writers. / Walaupun dengan latar belakang ekonomi saya sentiasa bingung dengan analisis penulis ekonomi sekarang
with an economics background I am always baffled by the analysis of the
ever so politically correct economic writers. / Walaupun dengan latar
belakang ekonomi saya sentiasa bingung dengan analisis penulis ekonomi
Even with an economics background I am always baffled
by the analysis of the ever so politically correct economic writers. The
US flooded the world with green pieces of toilet paper over the recent
years in their so called Quantitative Easing . Then they threatened or
decided to stop further episodes of this craziness and that according to
these politically correct economists spells doom for the rest of the
world, the Malaysian economy not excluded?
I mean, shouldn't
we be celebrating that the US have decided to stop this madness?! It’s
not unlike we flooding small kids with lollipops and suddenly we worry
about their health because we intend to stop giving them another flood
of lollipops?! These writers did not they realised that with QE the US
bought the world's real assets, our palm oil etc, with green pieces of
toilet paper?!! Shouldn't this be their concern instead of worrying the
US will stop further flooding of these green toilet paper?!
This is the problem when the world is run by West psychophants who see
no evil, hear no evil, understand no evil about the western systems
which they embrace unquestioningly as the only gospel truth.
When will a new class of Muslim leaders arise with impeccable intellect
to understand what ails the world and how it can be remedied via Muslim
world cooperation in implementation of Quranic solutions?
Alas we will not get there if the ummah itself does not understand the
issues and the possible solutions. The rot is so deep. Over the
centuries they not only brainwashed our education; overwhelmed our
culture, and tainted our values, but also drummed hopelessness in our
soul that we deride every attempt to change.
Never so true Surah AlRa'd Ayah 11
"Verily never will God change the condition of a people until they change it themselves."
Walaupun dengan latar belakang ekonomi saya sentiasa bingung dengan
analisis penulis ekonomi sekarang. AS membanjiri dunia dengan kepingan
kertas tandas hijau (iaitu USD) sejak beberapa tahun kebelakangan dalam
apa yang dipanggil Quantitative Easing mereka. Kemudian mereka
mengancam atau memutuskan untuk menghenti episod seterusnya kegilaan
ini, dan mengikut pakar ekonomi sekarang ini akan mendatangkan masaalah
untuk seluruh dunia, ekonomi Malaysia tidak dikecualikan?
Maksud saya, tidakkah seharusnya kita meraikan keputusan Amerika
Syarikat untuk menghentikan kegilaan ini! Ia seolah kita banjiri
kanak-kanak kecil dengan lolipop dan tiba-tiba kita bimbang tentang
kesihatan mereka kerana kita berhasrat untuk berhenti memberi mereka
satu lagi banjiran lolipop?! Penulis-penulis ini tidakkah mereka sedar
bahawa dengan QE Amerika Syarikat membeli aset-aset dunia, termasuk
antara lain minyak sawit kita , dengan kepingan kertas tandas hijau?!
Bukan kah ini yang sepatutnya menjadi perhatian mereka dan bukannya
kebimbangan AS akan menghentikan banjiran selanjutnya kerta tandas
Inilah masalahnya apabila dunia dikuasai pemuja Barat
yang tidak nampak apa-apa kejahatan dan kecacatan langsung dalam sistem
barat yang mereka sanjung dan amal.
Bilakah angkatan baru
pemimpin berintelek Islam akan timbul yang memahami apa yang merosak
dunia sekarang dan memahami bagaimana untuk perbaikinya melalui
kerjasama dunia Islam dalam pelaksanaan penyelesaian-penyelesaian
Malangnya kita tidak akan sampai ke sana jika ummah
itu sendiri tidak memahami isu-isu dan penyelesaian yang perlu
dilaksanakan. Kereputan jiwa kita angkara penjajahan Barat begitu
mendalam. Sepanjang beberapa abad mereka memerosakkan ilmu-ilmu
pendidikan kita, mensongsangkan budaya kita, dan mencemari nilai-nilai
kita; dan bukan setakat itu, mereka menanamkan perasaan putus asa dalam
jiwa kita sehingga kita cemuhi setiap usaha dan langkah untuk perubahan.
Benar sekali Surah AlRa'd Ayah 11
"Sesungguhnya Allah tidak akan mengubah keadaan sesuatu kaum sehingga mereka mengubah keadaan diri mereka sendiri."
Ringgit selloff appears exaggerated • Vidya Ranganathan & Siva Sithraputhran, Reuters • 10:58PM Aug 1, 2013
ANALYSIS Malaysia's normally tranquil currency and bond markets have
been whipsawed by an exodus of foreign capital as investors reassess
emerging markets most at risk from a withdrawal of US easy money policy,
heightening the possibility of a vicious sell-off that could hurt the
The ringgit currency is at three-year lows against the
dollar and month-long selling has pushed 10-year Malaysian government
bond yields to their highest in 2-1/2 years.
Economic growth is
slowing, the country's typically large trade surplus has nearly
disappeared and the government has been dragging its feet on much-needed
reforms to fix a large fiscal deficit - all giving foreign investors
reason to re-evaluate their exposure to the Southeast Asian country.
But a bigger worry for them has been talk that regular bulk domestic
buyers of Malaysian bonds, the state pension fund and banks included,
are purchasing less. That has led to heavier selling than analysts think
is justified by the economic risks.
"The buyer of last resort is less evident," said Claudio Piron, strategist at Bank of America Merrill Lynch.
As of May, foreigners held nearly 50 percent of outstanding government
bonds, the Employees Provident Fund (EPF) a little more than 30 percent
and the rest by local banks and insurers.
The latest central
bank data shows foreign holdings slipped to RM137.88 billion ($42.5
billion) in June from RM144.5 billion in May.
yields and the pressure to improve returns have compelled banks to
divert investments into corporate bonds and longer-term Islamic finance
products, analysts said.
The EPF hasn't explicitly said it will
slow its bond purchases. But 55 percent of its investments are in bonds
and it has said it wants to expand its foreign portfolio in search of
Sources told Reuters last week the EPF is investing in German and French properties.
It is little surprise then that a redemption of RM9.2 billion of local
government bonds this week unnerved foreigners, exaggerating fears about
the economy even though it far more resilient to capital flows than
peers such as Indonesia, India, Thailand or South Korea.
Ratings added to those worries on Tuesday, placing Malaysia's A minus
rating on negative outlook, citing weak prospects for reforms to fix
So far, the selloff in Malaysia stops short of
being termed turmoil. The ringgit has fallen 6.6 percent since May 22,
when the Fed first raised the spectre of early stimulus withdrawal, less
than the Indian rupee's 8.5 percent drop.
The stock market is down 2 percent in the past week, only a fraction of the 33 percent gains in two years.
The risk is that the falling currency and the spotlight on the
shrinking current account surplus will push Malaysia into a vicious
feedback loop of capital outflows and plunging markets.
"It's a slippery slope," said Piron.
"But the issue of whether Malaysia becomes an India or Indonesia is
when the outflows jeopardise the fundamental picture and the fundamental
picture jeopardises the flows picture. Then it becomes more serious."
Waiting for policy response
For emerging market investors positioning for tighter Federal Reserve
policy, the possibility that the current account surplus will vanish
this year puts Malaysia in the same basket as India, Indonesia and
Thailand - economies that are highly vulnerable to sudden shifts in
That was a point Fitch made, although the
delay in measures to fix government debt that is close to hitting a
constitutional ceiling of 55 percent of gross domestic product (GDP) was
the primary reason for the negative outlook on ratings.
failure to contain spending will render it impossible for the government
to bring its budget deficit down to a targeted 3 percent of GDP by
2015, from 4.5 percent in 2012.
The primary means for doing that would be through a general sales tax and a reduction of heavy subsidies on fuel.
But Prime Minister Najib Abdul Razak must safely negotiate internal
party elections on Oct 5 to solidify his position before he can attempt
to take any such unpopular measures.
His position is weak
after his Barisan Nasional coalition scraped through with a depleted
majority in the general election in May.
sceptical about prospects for reform. The ringgit firmed only briefly
before retreating on Thursday after Najib said his government was
committed to improving the fiscal position and would announce steps to
do so in October.
Meanwhile, plunging prices of Malaysia' palm
oil exports and rising copper imports have hurt the trade balance,
although analysts expect the current account will still show a marginal
surplus in 2013.
Ten-year bond yields have risen more than a
100 basis points, crossing 4 percent for the first time since early
2011, but yields were above 5 percent in 2008, before global central
banks embarked on pump-priming crisis measures.
HSBC data shows foreigners pumped $9.3 billion into Malaysian bonds in 2012, and $5 billion until May this year.
"There's so much pretty mobile money that has poured in and can pour
out," said Gerald Ambrose, managing director at Aberdeen Asset
Management in Kuala Lumpur.
"By that token, the exodus of all this money can be a problem. It can be self-fulfilling."
For what higher title do we carry than to be the Vice Regent of Allah on this earth?
" By time, verily Man is in loss except those who believe and do righteous deeds. And reminds one another with truth. And reminds one another with patience." Surah Al-'Asr.
"The person who utters a word which meets with God's favour may think it has not been heard, yet for this word, God will raise him to a higher level of Jannah. Conversely, the person who utters a word that stirs God's anger may give no thought to what he said, only to have God cast him in Hell for seventy years."
(Narrated by Malik and al-Tirmidhi, also by al-Nasa'i and Ibn Majah)
"Dear God You do not burden that I must but win, but You command that I must but try. Dear God count me amongst those who try. Verily my solah, my ibadah, my life and my death is only for You, Master of all Universe. Peace and aching salutations to the love of our life Muhammad s.a.w"
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