So Najib wants to help the US$19tn US economy with Malaysian funds?

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It is ludicrous to hear that Prime Minister Najib Razak wants to pump more Malaysian money into US infrastructure and Boeing planes to boost the US economy, which has a GDP of US$19 trillion. He should first handle the serious structural problems facing the Malaysian economy (GDP US$296bn).

One of the major structural problems lies in the housing sector. Reports indicate the property market in Malaysia is slowing down. And yet many buyers are still unable to secure bank loans to buy homes, many of which are priced beyond their reach.

This has prompted Urban Wellbeing, Housing and Local Government Minister Noh Omar to come up with a ‘bright idea’. He reportedly announced that property developers could apply for moneylending licences! According to the Edge, the Moneylenders Act 1951 does not have any provision to restrict developers from applying for such licences.

But everyone knows that the real issue is not that the banks don’t want to approve housing loans.

There are two real and related problems.

Full article in Aliran website

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27 COMMENTS

  1. Newsweek rushes in where M’sians fear to tread
    https://www.malaysiakini.com/news/395602
    Clever Voter: To be labelled a Malaysian crook is embarrassing. On normal circumstances, one would be advised to take legal action, but perhaps there is enough truth in the description that it is no longer defensible.

    US President Donald Trump has enough problems of his own so it is unlikely he would be able to do what would be expected of him to help PM Najib Razak personally.

    The reputation of prime minister is not exactly flattering and he should be reminded that the lack of ethical and moral values will worsen his image abroad.

    • Newsweek publishes Wolfowitz’s piece, heading reads ‘Trump meets M’sian crook’
      https://www.malaysiakini.com/news/395284
      Newsweek has reproduced an article penned by former World Bank president Paul Wolfowitz on the meeting between United States President Donald Trump and Prime Minister Najib Abdul Razak.

      The magazine published the article, which first appeared on the American Enterprise Institute (AEI) website, with the headline “Trump’s meeting with Malaysian crook Najib reeks of the swamp”.

      The original headline of the article published on the AEI website on Sept 12, the day Najib met Trump in the White House, read “This is not draining the swamp”.

      In his article, Wolfowitz (photo) urged the US president to find out who had arranged the meeting and to send a strong signal to lobbyists attempting to sell access to him.

      He described the meeting as “unfortunate” and recounted how an Australian expert on Southeast Asia was quoted as saying in the New York Times that from a public relations viewpoint, it was a meeting the White House should avoid and that a photo opportunity with North Korean leader Kim Jong-un would be better.

      Wolfowitz also made a reference to a Washington Post editorial that said the visit was a “new low” and noted the Department of Justice’s (DOJ) 1MDB-related suits, as well as the links drawn to Malaysian Official 1, which had been confirmed to be Najib…

      • Most Malaysians now have poor understanding of English to differentiate between Crook and Cook.

        Kampung Felda folks read it as MSatu not a good Cook but his wife can cook good dishes instead.

    • Desperate to kow tow to Ang Moh but irresponsible to threaten Rakyat of Chinese origin:
      MP: Najib’s ‘Chinese will be targeted’ comment perceived as a threat
      https://www.malaysiakini.com/news/395492

      Kluang MP Liew Chin Tong said Prime Minister Najib Abdul Razak’s comment that the Chinese Malaysian community would be “the first to be targeted” if there was no peace was bound to cause anger.

      This, the DAP lawmaker said, was because the comment can be perceived as containing “elements of threatening Chinese Malaysian voters” ahead of the 14th general election.

      “Malaysians must teach Najib and MCA a hard lesson so that they would learn to respect voters and democracy regardless of ethnic background.

      “They must be reminded that no leader should ever threaten an entire community merely to gain votes.

      To single out the ethnic Chinese in such a way, Najib and MCA are only making more people angry with BN,” Liew said in a statement today.

      Najib reportedly made the comment in a speech at the “Malaysian Chinese Patriotic Rally” organised by MCA yesterday…

      Q: is our PM condoning the threat?
      Q#2: Why the .. hell is MCA + Gelakan soooooo quiet without raising a dissent? Is this 1Malaysia a spirit of equal rights, respect & caring???
      My Analysis: No leader with one gram of common sense would want to make such an indirect threat to put faux fear on its citizens to vote with trust, respect & aspiration. Instead, the reverse is more forthcoming.

      • Correction: Instead, the reverse (of getting votes thro’ fear) is more forthcoming.

      • MCA invited MO1 to its 916 Patriotic Assembly only for MO1 to resurrect the May 13 bogeyman (in the form of IS or the infamous red-shirt thugs?) to threaten the Chinese community if they to do not vote BN-Umno for ‘stability’? Or the script is provided by 7-11 MCA to ensure its survival?

  2. It is not wrong to use EPF money to invest in USA, but it is wrong for Najib to invest our money given his bad 1MDB record. See the difference?

    • Like playing Monopoly board game, MOSatu desperately need a ‘get out of jail’ card. So he pawn our EPF money in front of Trump the Master of Negotiation. Never see a developing country helping developed country financially. Dunia dah terbalik?

  3. Why Prime Minister Najib Razak’s official visit to USA defies all odds:

    Within 2 days (although PM Najib arrived on 11 Sep, it was not an official event day), the followings are to be noted:

    1. It is unheard of in USA history of the State Department and National Security Council (NSC) giving clearance for a US President to meet with a foreign head of state or head of government that is directly named in DOJ’s largest ever money laundering investigation.

    2. Not only was Najib Razak invited by the US President, his delegation was also received by an expanded list of the most senior ranking officials of President Trump’s administration including:
    – the Vice President
    – Secretary of State, Tillerson
    – Secretary of Defence, Mattis
    – National Security Advisor, McMaster
    – National Economic Advisor, Cohen
    – Senior Advisor, Kushner
    – and the list goes on
    – there were more than 10 Ministerial Level persons

    3. The one-on-one meeting was close to an hour instead of the usual 15m.

    4. The President sent Prime Minister Najib Razak all the way to his vehicle on departure. By protocol, the President sends off and stops at the main lobby.

    5. There was both live statements made to the Media by both leaders which were completely in sync in front of all their respective cabinet members and in additional a very long joint statement (longer than ordinary) worked on by the State Department and Foreign Affairs Ministry and issue by both Governments. The decision not to make a joint statement in the Oval Office was one decided by both leaders as they wanted to show strength that both countries’ senior cabinet members were behind such decisions and statements and its about their governments behind the decisions of their leaders.

    6. The Whitehouse very swiftly produced a special video for PM Najib visit attached to President Trump’s tweet of his appreciation shortly after PM Najib left the Whitehouse.

    7. PM Najib on 13 Sept went to the Senate Building and met with key Foreign Relation Committee Senators led by Cory Gardner whom is the Chairman of Senate Committee on Asia. He is also the Chairman of the Senate Republican Campaign Committee and is an important up and coming power player. Also Chairman of National Republican Senatorial Committee (NRSC). NRSC helps elect republicans primarily through fund raising.

    – Excellent leg work was done prior to the meeting as 1MDB was not brought up by the bipartisan senate committee including both Democrats and Republicans.

    8. PM Najib also had good meetings with various think tanks and business councils.

    9. PM Najib is leaving USA 13 Sep feeling like his November 2016 Beijing visit hosted by President Xi. It was an extremely successful visit, unheard of even by USA standards and President Trump is now due to visit Malaysia in November 2017 in which he is expected to bring major investments by Boeing in Malaysia with the potential shift of Boeing Southeast Asia HQ and production facilities to Malaysia in the tune of USD5b as part of the USD10b program.

    10. He arrives in London on the way back to Malaysia to be received by PM Theresa May of UK signalling another major endorsement.

    11. President Xi is also schedule for a visit to Malaysia in November 2017 with major goodies.

    While Singapore is still struggling to mend fences with China, PM Najib’s master stroke has not only brought it best friend status with President Xi and China, he has also successfully manoeuvred not only acceptance from the USA but support from President Trump, his cabinet, and all the way to the bipartisan senate foreign relations Committee.

    Cat with 9 lives?

    Election in sight for December 2017?

    • 9 Lives? 9 questions for you:

      1. Who conceived the idea of the two propaganda offensives – the Trump-Najib show, and the “go for the jugular” offensive to blame the opposition for using the 1MDB scandal to undermine investor confidence in the Malaysian economy? Did it come from the highly-paid media consultants and propagandists? If so, let us have the names.

      2. How much was spent to secure Trump’s invitation to Najib for the meeting at the White House, and was it was paid from government coffers or from private funds?

      3. Did Najib and his entourage stay for three days at Trump International Hotel and what was cost of the stay for the Najib entourage – was it in hundreds of thousands of US dollars?

      4. Was Najib aware that his entourage’s stay at the Trump International Hotel created an ethical problem, of whether Trump was violating the Emoluments Clause of the US constitution which forbids presidents from receiving gifts or payments for services rendered from foreign governments while in office? If so, how is it they still stayed at Trump International Hotel?

      5. Why is the 5 minute 58 second transcript of the Trump-Najib exchange in the White House cabinet room so humiliating for Malaysians, as the tone and tenor of the exchange did not sound like one between two equals representing two sovereign nations, but like those between a monarch and a chieftain of a vassal state bearing gifts, like bunga mas to the sovereign?

      6. Is Najib aware of the ludicrous and comical implications, and the total lack of a sense of scale, when as Malaysian prime minister, he declared Malaysia sought to “strengthen the US economy” to make America great again, when the comparative 2016 GDP is US$18.569 trillion for USA and US$296 billion for Malaysia only (or USA having a GDP that is 63 times bigger than Malaysia)? How could an economically weaker country “strengthen” the economy of a country with an economy 63 times bigger than that of Malaysia, when it should be the other way round? Out of the 50 states in USA, 22 states have GDPs larger than Malaysia, headed by three states which are trillion-dollar economies, namely California which has GDP of US$2.6 trillion; Texas US$1.6 trillion; New York US$1.5 trillion. The next three states in USA topping the GDP list are Florida with US$927 billion; Illinois US$792 billion and Pennsylvania US$725 billion.

      7. Najib claimed that Trump’s invitation to the White House was a form of acknowledgment of Malaysia’s status as a “rising star.” Is he aware that of the 32 foreign leaders from sovereign countries that Trump had invited to the White House so far, 15 rule over nations that either score in the bottom half of the Global Democracy Ranking, which uses metrics to measure the health of 112 democracies in the world, or hail from countries like Saudi Arabia that have no pretence of democratic rule?

      8. Najib’s White House meeting with Trump has not put the 1MBD scandal behind the Malaysian prime minister, as the opposite has happened, highlighting the iniquity and monstrosity of the scandal, which has turned Malaysia overnight into a global kleptocracy. Will Najib finally recognise that the 1MDB scandal will not go away, and that it can only disappear if there is full accountability?

      9 . During Najib’s meeting with Trump, he had pledged “value propositions” to strengthen the US economy and announced that the Employees’ Provident Fund will invest between US$3 billion and US$4 billion in US infrastructure projects. He also announced Malaysia Airlines’ planned purchase of between 33 and 58 aircraft from Boeing, a deal which would be worth more than US$10 billion within five years, and that Khazanah Nasional Berhad will also increase investments in US high-tech companies. Will Najib summon an emergency meeting of Parliament to debate his exchange with Trump and seek endorsement of his “value propositions” to Trump? Is Najib aware that his “value propositions” constitute a drop in the ocean for the USA economy, as the cost of Trump’s infrastructure upgrade is US$5 trillion over the next decade, and that the market capitalisation of the New York stock exchange totalled US$27 trillion?

  4. Already cutting funds to local public universities which indicates national financial dire straits, but can still afford to gau-gau help the US economy!
    Could Mr. Robert E.Lee (not the pro-slave general) pls explain to us the not so intelligent Rakyat??????
    No spinning pls or jabs.
    I used to pass by USM 2nd main gate @ Jalan Bukit Gambier & saw about 10 campus buses in a row during semester holiday. Now, I barely see 5 campus buses in a row this semester break. This is one of USM cost-cutting measures. Of course, this is not a so intelligent comment to some wannabe-generals.

    • Most of Mat Salleh history is lies written by the victors. US history is especially twisted. Though we have been conned in the past, we still get excited over their internal issues (personalities, events or achievements) which look very different to locals there. Do you agree that the Bolehland government should have removed so many, British statues: potential idols? You may think Robert Lee was evil and Abraham Lincoln was good. Here is what the latter said (from his Collected Works):
      (1) The separation of the races is the best way to prevent amalgamation… That requires colonization… (2) I have never been in favor of the social and political equality of the white and black races… (3) I have no intention of interfering with the institution of slavery where it exists…

      Also: “The first slaves were whites, mainly Irish, but they succumbed to malaria and yellow fever. Enslaved natives refused to work. Only then did the Africans come in. The Emancipation Proclamation was a war tactic that only applied to slaves in the Confederacy (South). The hope was that it would foment a slave rebellion” [a polite way of saying the US govenment believed these sub-humans would start raping and killing]; “that would pull Southern soldiers off the front lines, rushing to the protection of their families. New factories in North USA also hoped to attract cheap labour.” – Paul Craig Roberts, 2017 (summary)

      The problem with evaluation and verification: you will not be able to sent that instant, clever, reply on social media.

  5. MO1 is willing to pump more Malaysian money into US infrastructure in exchange for a photo with Trump so that the subservient media here could tell the kampung and Felda folks that even Trump was mesmerized by Najib’s charm & the financial strength of Bolehland (see the headlines of mainstream papers today). Cash Is King and that’s how easy GE14 could be won with a picture. The rural folks may be misled to believe that Trump has overruled DOJ.

    • Cash Is King is a Blue Ocean Strategy of ‘sucking sweat + tears cash’ from the Rakyat via GST, fuel pricing & cutting of subsidies + budgets. And more relevant when we are told of generous Saudi Cash Is Donation which is still kept somewhere for whatever uses nobody knows.

      • Also, stagnant wages, disappearing jobs (exported or automated). A recent newspaper article said 40% of Bolehland workers are in the “gig” or “freelance” economy, i.e. they have no secure income. So, what does out great leader do? He proposes employment insurance – again.

      • The reality is there is no more a job (as an employee) for life till retirement as companies have to stay ‘nimble’.
        The reality is one has to manage 2 or more jobs in order to survive any retrenchment or failure of own business.
        Unless one is makan gaji as a gomen servant, which in the future may not be secured as it is now – due to the burgeoning of salaries + retirement pays may force gomen to ‘cut-costs’.

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