Good news relating to telecommunications for B40, M40 groups this Christmas — minister (source: The edgemarkets) - Maybe, what Fahmi means is that the reduction in internet charges is for B40, M40 , not everybody
earlier, someone posted this article which said "The yet-to-be-released new prices hang an uncertainty on the future earnings of Telekom Malaysia Bhd (TM), which controls the bulk of fixed broadband subscriptions.". The above is the most likely reason. Anyone, the funds are selling ahead.
Hello! The oil price cap is all set to begin. OPEC will meet soon whether to cut production. US SPR reserves now at its all time low.(at the same levels as in 1984) "He" who controls oil production controls the world economy. The "He" is none other than OPEC. What are your thoughts now?
We will suffer from unemployment. For those who want to try their luck in a casino can do so in Singapore. S'pore's economy will boom. But the boss of Genting is not affected. Genting S'pore will absorb all our casino business.
The Edge estimated the so called "universal income' to cost 35 Billion MYR. 1) borrow more by issuing bonds will collapse the bond market. Pension funds, EPF .. holds lots of bonds 2) Pull back petrol subisidies to fund the 'universal income' will cost petrol price to go up and inflation goes up as well. 3) interest rates will rise further to curb inflation 4) Business will face hard times.
Just look at item 2 of BN menifesto. To give 2000 universal income. Are we going to face a Lizz Truss moment here? How to give? Borrow? Pull back petrol subsidies to give? Lizz Truss moment will bring about a collapse like in UK.
Truss was under a Grand Delusion. -That UK is exceptional. UK does not need to follow rules. That Grand delusion came crashing down. Sanuk certainly does not have a magic wand. What the market wants ? - more taxes. more spending cuts. The whole economic problem is not monetary. It is about sanctioning themselves and getting into another country's war.
The selling will probably end when Fed is forced to do QE again. What happened in UK bond market could potentially happen in US as foreign governments holding huge chunks of T Bills are forced to sell in order to protect their local currencies.
HK Genting bankrupt shows that Genting boss does have foresight. The drag on Genting HK was the German shipyard. If he had cling on to Genting HK and put $$$ into that shipyard, his wealth would be wiped out as Germany is now on the path of deindustrialization. Expensive gas imported from US would price EU products out of the market.
See "5 myths about China and why they could get us killed" by David Goldman. 1. China is getting rich by exporting to US. -in 2008, that was 9% of their GDP, Today it is 2% of their GDP 2. China depends on stolen US technology -that was in the past. China has moved way beyond that -They build their hypersonic missile that could circle half the globe and hit a target. 3. China faces demographic collapse - the whole west also faces demographic collapse . The two nations having the lowest birth rates are S.Korea and Taiwan
The treasury arm of the government issues bonds to borrow money. Another arm of the government, The Central Bank, buys it and release the money to the government. This is quantity easing (QE). The value of the existing money should drop unless the nation's money is the reserve currency of trade (USD). In a way, it is money dropping from the sky.
Yellan tried but was unable to unwind QE. The mere mention of tapering of bond purchases by Fed is enough to cause interest rates to rise. The treasury issues the bonds and another government arm is buying the very bonds. It is printing money. Truss planned to issue the big chunks of bonds and place it in the bond market. Fund managers quickly exited the bond market before it is too late. Better to exit earlier than later.
There was a time when some of our businessman talked about building an oil hub in the east coast. What happened? It did not take off. China built its oil pipeline overland to Russia instead of taking the risk of transporting its imported oil solely by ship.
Wion is not the place for serious news. To quote a comment from Wion - " I was totally amused when they clapped their hands oblivious of the fact that their fighter plane was shot down over Pakistan and their pilot in captivity."
MICHAEL HUDSON: There was a lot of discussion recently in China about the Plaza Accord and the Louvre Accord. There’s no parallel at all.
They’re looking at this as an object lesson. They say, we saw what the United States did to Japan. We’re not going to let the United States do it to us.
We’re not going to inflate our economy and create a bubble here just so that we are as inflated as the U.S. economy is. We’re going to lower our prices. We’re not going to make a financial boom and a real estate boom. We’re going to do just the opposite.
Instead of letting banks getting rich on real estate loans, like to Evergrande, we’re going to let Evergrande go under. We’re going to let the bondholders of Evergrande go under. We’re going to let the stockholders of Evergrande go under.
And we’re going to create a basic tax system and public support system to minimize the cost of housing.
So that, while the American middle class and political parties think that they’re getting rich, as their housing prices are going up, the Chinese people think they’re going to get rich as housing prices go down, and they can afford more and more housing at a lower and lower price, while their wages go up.
Michael Hudson, author of "Super Imperialism", former consultant to the US State Dept, said :
"Most of the Taiwanese officials, including central bank officials that I used to meet with, all say, you know, ultimately we want to, we plan on rejoining China. We’re going to try to take as much of a business position in mainland China as we can.
But ultimately, the economy is going to re-merge. It’s just a question of when we can get a better deal from China than we get in the United States.
And as the United States is in a state of rapid shrinkage of its economy right now, all of a sudden other countries are saying that very quickly, well, let’s rethink our position and maybe we’re going to do better off not following the neoliberal plan of the United States.
Let’s have a mixed economy where the government and industry and labor work together to develop the economy instead of a polarized, financialized, Reagan- and Thatcherized economy that you’re having in the United States and England."
comments from other forums: To fully explain the idiocy of Pelosi’s visit. Exports from Taiwan to mainland China in 2021 was 42.3% of Taiwan's total exports. In contrast, Taiwan’s total exports to the US was just14.7% in 2021. So China doesn’t need to invade Taiwan to crush it economically. They can just cut it off; And it will collapse.
The leaders of PRC are more wise and rational than you think. Pravin Sawhney, author of "The Last War" tweeted: "I don’t believe China will start war over Pelosi’s provocative Taiwan visit. Beijing will not jeopardize its peaceful rise by its unmatched BRI. Surely, China-US relations will deteriorate. "