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.
Oct 302008
M’sia’s denial syndrome as global stag-deflation looms
Development issues, Economy, M'sian politics, Malaysian finance/business
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Oct 302008
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]
The Hong Kong-based Political and Economic Risk Consultancy Ltd (Perc) has come up with its Asian Risk Prospects for 2009. It has identified India, Thailand, Malaysia and Indonesia as high-risk countries for 2008/09. This is what its Executive Summary is saying about Malaysia for 2009. 2008-10-28 15:37 Malaysia political struggle is aggravating long-standing racial and religious sensitivities. Although the odds favor the UMNO-led coalition staving off an attack by the opposition led by Anwar Ibrahim, the status quo is changing in ways that will see a stronger political opposition than in the past and UMNO forced to share more power with non-Malay groups, including parties from Sabah and Sarawak. This sharing will both give the other partners in the ruling coalition more senior political posts and ensure that they get a larger share of the budget. I am not quite sure if it’s the “political struggle” that is aggravating racial [Read more]
