Altantuya’s father Setev left speechless

 Accountability, Judiciary  46 Responses »
Oct 312008
 
Altantuya's father Setev left speechless

The picture says it all: Bewildered and dejected, Setev Shariibuu looks a broken man after the verdict this morning Someone asked, “Do you believed that justice still exists in our country?” Setev shook his head as his interpreter replied, “In my country, there is this law.. Justice!… and he (pointing at Setev) doesn’t want to criticise the judge’s decision because he hopes this decision was taken in line with  Malaysian law… because it’s an area where the lawyer and the judge are independent of the Government…” The interpreter was interrupted by Setev, who took out his passport issued by the Mongolian government, saying he is a citizen of Mongolia, which “protects its citizens”.

Guan Eng leads delegation in hunt for Korean investors

 Accountability, Corporate agenda, Democracy, Development issues, Housing, Malaysian finance/business  14 Responses »
Oct 312008
 

One of the larger issues that arises in the face of the global economic slowdown and recession is that the foreign investor-driven, export-oriented economic growth model is clearly not working, especially in times like this when global demand has shrunk. With global stagflation or recession staring at us, capacity is rising and the trickle of foreign investors is drying up. We should be focusing more on building up a strong, resilient, sustainable domestic economy by providing basic services (housing, health care, food security, public transport, education) rather than relying on foreign investors and now, foreign retirees. But getting federal funding for such essential services is a problem in the Pakatan-run states and I can sympathise with the Penang state government, which is searching high and low for investors to stave off the effects of job losses. All the same, hunting for foreign investors is at best a short-term solution that [Read more]

Obama’s slick new “informercial”

 Democracy, Energy resources, Health care, Iraq, Politics, United States, Workers' rights  29 Responses »
Oct 302008
 

This is slick, very slick – and impressive. This ‘informercial’, just released in the US, cleverly tugs at heart-strings. I just hope Obama remembers the ordinary people he talked about if he comes to power.  But I am also sceptical to what extent he can actually reform the private health care industry (yes, its an industry, big business) or push through pro-people economic policies. Too often, populist politicians show a keen interest in the concerns of ordinary people only to disappoint when elected as they invariably pander to the interests of Big Business and lose touch with the hardships of the people on the ground who voted them into power.

M’sia’s denial syndrome as global stag-deflation looms

 Development issues, Economy, M'sian politics, Malaysian finance/business  Comments Off
Oct 302008
 
M'sia's denial syndrome as global stag-deflation looms

Economist Nouriel Roubini says we are now looking at a possible global stag-deflation in the coming months as consumer and other demand falls worldwide. The US recession and global slowdown is likely to lead to a easing of inflationary pressure. But then, rising spare capacity could lead to stagflation. Asia Times financial analyst Henry C K Liu suggests that hyperinflation could be on the cards in the US as the Bush administration replaces market capitalism with state capitalism, neither of which will help workers weather the storm. The solution he says is to raise wages and ensure full employment rather than bail out financial institutions: By now, it is becoming clear that government policy has been mostly focused on maintaining asset prices at levels that the market has rejected. Logic suggests that such a policy will result in hyperinflation at the end of the day, which will lead to more [Read more]

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