The Disgustingly New, Normal

Are we seeing the so called new normal with regards the Ringgit vis-à-vis the major currencies?

I hope not especially since we are so looking forward to an overseas trip early next year.

Still some time to pray that the current levels are not “the new normal”, Amin.

Anyway, to continue on my light ranting: the weakened Ringgit will push the comic book price up summore.

Out soon. Can't wait.

Sheesh.

How I wish I am working and earning in Singaporean Dollar where this is concern.

Imagine getting Brian K. Vaughan’s acclaimed “Saga” - the compilation la – for less than 25 units of the currency.

(I’m using this NOT in relation to 1MDB’s “Units, just units” ya. Please.)

Here, you’re paying something like 80 or thereabout units per volume.

Imagine if both you and your Singaporean comic geek counterpart is earning the same amount of units in monthly salary of say 3,500 units – a realistic figure for a slightly experience junior staff.

That would mean if you happen to the whole set currently available – Volumes 1 to 4 (5 is out soon, Yay!) – you’re gonna be spending 9.15% of your monthly salary while the dude across the Causeway spends 2.86% of his.

Crossing over use to make some sense those days of the old  normal (is there such a word?) as even converted, comic books prices are still on the lowish side compared to buying over here.

Unless Borders / Kinokuniya go the Big Bad Wolf Super Duper Sale’s route, that is.

Now, the cost differentials from conversion is almost equal or worse.

Every now and then, I continue re-reading my old, loose issues, comic and you can still see the price tags – I’ve gotten copies at RM1.80 and RM2.50 mint - pasted on the covers.

Ooh, I so hate this new normal thingy.

Priced Out aka Improving One's Lot

Is my community one of the most kesian of communities in this country?

Is that the reason why the phrase “improving the lot of the Malays” keep cropping up every now and then; the latest being the UDA – Penang State Government – Kampung Tanjung Tokong, urm, initiative?

Read: “It would entail relocating about 1,200 families from their village houses into flats built in high-rises as compensation. UDA hailed the initiative as improving the lot of the Malays so that they are not left behind.” (My emphasis)

My briefest of stay in Penang with my uncle did not allow me much of exploring the of the island state; Kampung Tanjung Tokong included.

It is said to be an original Malay fishing settlement all those years ago pre Francis Lights’ taking over of Penang from Kedah and turning it into a thriving port.

And because of that, the powers that be decided for Kampung Tanjung Tokong to be accorded the status “heritage”.

Umm, for 250 years of being what? Excuse me for being blur on the history of Kampung Tanjung Tokong, which I promise to look up if I am so keen and have the time to indulge in something which I have little interest in.

Anyway, I am digressing here and back we are to the “improving the lot of Malays” bit.

Supposedly one way of doing so is by cramming families into flats of between 800 to 850 square feet from wherever it is that they were staying in previously.

…

Really crude generalization at work here.

There’s no doubt that most of us would have had the, urmm, luxury of staying at these modern - housing development players driven - interpretation of the human habitat.

Mine was the Teratai Mewah (ahem) Apartments in Setapak, Kuala Lumpur.

Nasty, nasty traffic, crappy lifts, express out-the-window garbage deliveries, scant consolation of a shared playground, longhouse styled layout, birds’ eye view of your neighbour’s flat, deplorable maintenance… Quite the place we had.

Sure there are plus points; …… a roof on my head (nope sorry, that’s my upper neighbor’s floor actually), close knit community (if we had enough time to knit about, that is), security (yeah, right).

(But flats are sure heaven sent for the starting-out-in-life singles. Affordable entry point, often easy access to public transit points, plenty of makan places, solace of being stranger amongst strangers…)

Improving of one’s lot in life, eh?

Perhaps the newer flats are super spanky: after all, it really has been quite a while since I’ve been in one after I left Teratai Mewah and Kuala Lumpur for Ipoh and a landed property (initially rented then bought) in one of its suburbs.

Finally, my family had its own breathing space and what an improvement it was.

Often the excuse is that land is scarce and hence you have to build upwards to be able to accommodate the burgeoning population as cities, towns and suburban areas expand through the years.

Maybe so, but couldn’t we have planned our development better? After all, the country is only 54 years old and we could have well learnt from the experience of others which had threaded the same path before.

Authorities often would decry the supposed unreasonable demands from those involved in similar, urm, relocation exercise.

It is but only natural to want to be able to stay close to the land, feet on the ground as you stand outside your home – no matter how humble an abode - to watch the time pass by and to not feel trapped in a concrete enclosure with a single exit.

The writer of the above mentioned article asked: “Is not decimating such a physical legacy in the form of the village, which inherently contains old Malay values – cultural, architectural, communal – an antithesis to improving the lot of the Malays?”

A perfectly valid point.

In fact, we can travel down south to another heritage-status filled state in Malacca to see some of these ideals in action.

Of course, these are views of the romantics and the idealists; not the realists who understand that the new value in life is in denominations of Ringgits and Sens.

Especially in the Pearl of the Orient where a 850 sq feet flat can cost a whopping RM300,000 per unit. How much is that in monthly installment, I wonder? Perhaps this is the improvement in lot spoken of.

A plot of land can house a single family. Or it can accommodate a whole lot more with some economical equations thrown in.

Pardon the fully intended use of words.

Valued Attachments

 Just the other my youngest daughter asked me: “Is RM1 for a piece of sausage expensive?”

Being typical me, I didn’t give her a straight answer, opting instead on a cryptic (for a kid of seven who just started school, I assume so): “It’s not the number that is put on the item that matters, but the value it actually carries that makes it either expensive or not.”

Feel free to judge if this example clears it up for the poor child: “RM1 for a piece of sweets is expensive, but the RM1 for a car would be dirt cheap.”

I knew she didn’t understand as she then reiterated: “So, can I continue to buy from the seller or not?”

In the end, my wife – who overheard the conversation – decided to put an end to the subject by packing her and the elder sister sausages to bring to their holiday camp every alternate days or so.

Her question did get me thinking though: pricing is moot as opposed to the value of items, and yet value on its own is highly subjective.

Take for instance my RM388k home in the, ahem, Greater Kuala Lumpur area (heh).  The price tag caused me to slightly break sweat all over my brow, but speak of the same TODAY, it’s cheap. 

Not DIRT CHEAP, but Klang Valley suburb cheap.

Looking at the prices of even mere terrace home (intermediate lot, mind you!), I am thankful to my better half for convincing me to take the plunge (and the developer for coming out with a pretty good, spacious home at the said price which was quite competitive about 3 ½ years ago).

Depending on our, urm, financial community (for want of a better word) standings, value is even more subjective than ever.

So, to the, urm, semi well-heeled, the Lamborghini Avantador at RM2.8m (plus minus) is a VALUE proposition to the RM5.2m Buggati Veyron, especially since you can get your hands on the Lambo far easier than the Veyron.

For the likes of even the semi well-heeled then, the RM240K Lotus Elise is literally a weekend go-cart model which can be thrashed if they are so inclined.

The top-of-the-range RM73K Proton Preve? Bah!!

Of course, they are the (what’s before semi? quarter?) well-heeled who do not carry the same philosophy on values as mentioned above and thinks that a RM23K well maintained second / third hand Mini Austin is as good a car as any others.

I’ve meet one, in fact: hangs around in his favourite kopitiam in shorts, singlet and slippers in between minding his million Ringgit restaurant business.

He is an old timer, though. From simpler days when money wasn’t everything and flaunting your wealth is as welcomed as farting out loud in public.

Do I think RM1 for a piece of sausage expensive, then?

Selling to kids at a State Mosque function: but of course!

Asgardian Magik

Weird one this:

Tenaga Nasional Bhd, Malaysia’s biggest power producer, received an advanced payment of RM1 billion from the government on behalf of state-owned Petroliam Nasional Bhd as compensation for additional costs arising from a shortage of gas supply, CIMB Group Holdings Bhd said in a report today.

Imagine that.

Never mind that Petronas was recently reported to be in a general disagreement with Tenaga over the whole gas shortage issue but, Hey Presto!, the Government chips in.

Read : “on behalf” technically means that it is NOT from Petronas’ coffer. Or is it?

(Am really wondering where our Government is churning out all this money from. Couple of billions here, there and everywhere in between. What’s with all the RM500 extras for households earning less than RM3,000 per month and more.

Aren’t we in budget deficit or something?)

There’s more in fact: Bloomberg says that a CIMB Analyst says - without the latter attributing from where he got this one from - that Tenaga may get another RM1 billion from the government within this financial year ending August.

There you go.

That said, RM2 billion technically is not a whole lot of money for the Government to be so murah hati: but hold on here; are we talking about the Gomen’s money or Petronas money here?

Or is it the same thing that the Petronas money is basically Gomen’s money? (Not the other way around, though, mind you).

Sometime last year from I cannot remember when, my monthly electric bill went up by some 7%.

Yep, I’m one of those who is guilty of using excessive electricity to power my internet, aircond unit (no “s” there, please note), fridge, the occasional Astro viewing, laptop charging, washing machine etc.

It is a substantial 7% hike for me and from what I gather, this month’s onwards I will kena another 1% for some Green thingy initiative for using more than RM70++ worth of electricity every month. Maybe, or maybe not: we shall see.

In the meantime, Tenaga is like bleeding money.

Why in heaven’s name is there a monolith of a power generation project constructed way out there in the Sarawak wilderness is best known to those who concocted the project in the first place.

For a muslim, one should therefore be thinking that there in a less than Barakah element in all these income that the country is earning, no?

Maybe: I shall leave this question to those who are way much more knowledgeable than me to ponder.

In the meantime, pay we shall do.

A Smooching Great Deal

Way back in the late 1980’s, my dad opened a grocery shop using proceeds from his golden handshake a few years earlier. Nothing fanciful; the shop was just an extension of the single-storey house we were living in.

He’d stock up every few weeks or so the dry stuffs, and two-days once or less for the perishable items like fish, chicken, veges etc.

I helped out a bit whilst waiting for my SPM results. Cashier, cooking gas deliverer, afternoon shift shopkeeper – it was a family business after all.

The business never did prospered; not helped by my irresponsible eating of the snacks and what not during my shifts, amongst many, many grocery-shops sins (sorry, Dad!).

Then again, though, profit margins for grocery shops are never that big anyway. If I can remember, dad got his extra to cover costs etc not only from the cheaper bulk buying price but also the extra items for every purchase. Buy 40 get 5 extra, so the additional covers my, ahem, siphoning.

Anyway, the shop died a natural death soon after both mom and dad went for their Haj. I think dad just got tired over the whole serving the folks thing as he was afterwards so active with his congregation.

Thoughts of the family’s once grocery store came back when I read of Kedai Rakyat 1Malaysia’s supposed ability to sell at 30-40% lower than market prices, while having a spanky setup complete with bar coding cash register, smiling uniformed-attired shop assistants and QUALITY stuffs to boot.

Wow. For the life of me, I cannot figure out how this is ever possible.

Huge margins are usual for high end items as these goes on brand names unlike groceries. Even the much vaunted hypermarkets which a Parliamentarian claim as hastening the death of small Pa Ma (Mom Dad?) shops could only cut so much from their pricing.

30 to 40% for ALL items is…. I don’t know what it is.

All well and fine for the Rakyat, perhaps, to be able to buy a RM6.20 can of sardine for RM2.99 (round it up to RM3 la) and I suppose, yeah, bulk-buying, no-frills-simple packaging could REALLY shed the difference while providing a decent profit to cater for the overheads.

Either that or someone’s operating a charity.

Ho Hum Bunkum aka My WishList

“Mr Prime Minister, please ease the pain of mid-income group” makes a whole lot of sense, but is it too far too late a good proposition to incorporate?

We’ll know well enough later today when PMNTR go through the whole shebang of presenting the Budget 2012.

Once upon a time I used to enjoy the presenting of the budget by the nation’s Prime Minister. Until Pak Lah came along and made it a pain to sit through with some really, urm, awesome reading of the Budget Speech.

Aiyoh.

Last year’s Budget however a disappointment, particularly for the said middle income bracket (I’m in this one, perhaps within the lower to mid Mid Range band, if you may) group of rakyat as there was practically NOTHING for us.

The worst came later during tax assessment day when you realized that; “Hey, they’ve changed the bloody thing and now much of the relief I have before is either consolidated or mysteriously, inconspicuously, missing”.

Fortunately, the IRD (don’t you just the 1Malaysia era of astounding acronyms) came through with relatively painless refunding of excesses paid; though they did complain about employers paying too much of their staff’s pay vis-à-vis the PCB deductions.

My Budget 2012 wishlist?

Cheaper cars, or better public transportation system. Or BOTH and they can ditch the fuel subsidies.

BK Sidhu’s (as per her article mentioned above) wider range of tax brackets to allow the mid ones some breathing space.

Ditch the tax on Imported books (and comics too!)

To give more clout to the Parliamentary Public Accounts Committee to look / investigate / recommend / reprimand all the ketirisan in governmental expenditures.

A cool RM1 million in my savings account tonight at 6pm-ish.

This is MY WISHLIST after all, correct?

Sigh.

My inane wishes notwithstanding, I do foresee an abundance of feely-goody, smoochy-touchy, excellently WoWishly, news headline in all of tomorrows MSM.

Will any of these be of good news to us Mid Rangers?

That we shall know later today. Tune in, if you wish so.

Katsuhiro Otomo's Memories

Conscientious Contentions

Why is Keith Bradsher* busybodying in a Malaysian’s affair?

He wrote: “But the construction and design may have serious flaws, according to the engineers, who also provided memos, e-mail messages and photos from Lynas and its contractors.”

There’s more: “An engineer involved in the project said that the blueprints called for the plastic waterproofing but that he was ordered to omit it, to save money. The plastic costs $1.60 a square foot, he said.”

Bradsher has been writing some critical expose on a major FDI for the state of Pahang which had caused** some people some mighty headaches.

Allegations such as the above should not be aired so openly, Mr Bradsher.

That’s not the way we do things here. Nope. We prefer to do loads of “kajian” (Research? Studies?) before putting on a huge smile and say everything is “Okay”. If it’s not, then we’ll do a fair bit more of kajians until it is.

All this talk about the rare earth plant being a contamination risk is causing undue alarm on the populace. Now, some of them have gone on and protested against the whole project.

Perhaps if you had not written way back in early March on the same matter then the furore would have been more subdued and the plant would be up and running faster than you can say, say, Bukit Merah.

What’s in it for you, really? I mean, not even our mainstream journalists here are probing too deeply into such an outwardly, rosy-looking project that is worth much, much moolah to the country.

What? There’s a 12-year tax holiday, you say? Hmm....

Well there is that 0.05 percent research grant per revenue and the, ahem, spill-over impact on the surrounding area’s economic wellbeing.

Your article have now gone on to open a can of worms right before the authorities could announce today the results of an independent international review of the plant. (See **)

What if someone – would anyone, though? - asks the abovementioned points and there is no answer?

More headaches. Sleepless nights. Un, ahem, CLEAN-shaven days.

* Keith Bradsher is the Hong Kong bureau chief of The New York Times. Wonder where he gets his sources from? Pretty close to the project to get such delicate info.

** Had caused are the definitive words as the Menteris announced the Independent Panel okaying of the project with some 11 recommendations. Not sure if these addresses the concerns you've raised, though...

Worldly Toils

Last in a line of none
Staring was quite a luxury for him
Unblinking, the opaque screen was nonplussed still
How could it
Soulless, it talks without responding

Outside the freezing light-filled space
Motorists noiselessly zoomed pass
Under his breath came a choiced curse
Once inadvertent, now emitted nonplussed

Flickering neon numbers were certainly bigger yesterday
Four digits the result of a month's toil
Figures he wished higher everyday
Instead of one rollercoastering downhill

Where had they gone, he wonders
House, cars, bills, kids, he figures
Where else, he himself quizzes
Or, was he leaking like a sieve, he shudders

He sighed a resigned resignation
Fingers to panel, a three-figure number keyed
His mind tired to feign even frustration
Thinning wallet patiently waiting to be filled

A whirling of mechanicals then
The sweet, sweet sound of notes chugged
As he waits for a modern day drug
Stuck in an unfortunate, uncontrollable den

Pieces of paper jeer through an open orifice
In blues and reds, they beckoned his taking
What will be a week’s sustenance, for fuel and meals
Swapped from machine to wallet swiftly unflinching

Out popped his card, a small receipt follows
Black prints on white, its surface warm to the touch
Pulled it out, three digits the balance shows
The two behind, alas, not worth that much

Monthly toil
Gone in a whiff...

Non Secret Woes

RM341.

I couldn’t believe my eyes when I saw the price tag; one that I could never stretch my budget for.

Wednesday provided an enjoyable hiatus from work and visit to a favorite bookshop courtesy of a work-related meeting with a former college-mate.

There it was, slotted next to a host of Marvel Omnibus (whatever that means) series: Secret Wars by Jim Shooter and Mike Zeck and immediately, my heart skipped a beat.

Alas, for the second time this year, I have had to forgo wishes in deference to stark economic realities.

RM341 is a whole month’s groceries and more.

It’s a sum that could easily cover the petrol and toll bill, with extras for breakfast and lunch.

A figure that would buy me the full set of Geoff Jones’ highly acclaimed “Blackest Night” with extras for, perhaps, a Burger King set meal and the parking fee.

Yet, my fingers felt leaden when it came to re-slotting the phonebook–thick miniseries into its place in the rack.

Instantly I wished I was in Singapore, or back in the UK which would reduce substantially the cost of adding such a classic to my collection.

(Of course this is based on the proviso that I am earning in SGD and Sterling, that is.)

I never did manage to get a single issue of Secret Wars as the mini-series came out when I was still relatively wet behind the ears and pretty much (ahem!) penniless.

(Scrolled Amazon and saw the same being retailed at USD70 (around RM230 at current conversion).

Still way too expensive to make sense, unless, that is, you’re an American buyer. Wonder of anyone of my friend’s going to the US… Hmmm…)

I took stock at my wallet-situation and decided instead on the reprinted copies of Marvel 1602 (Neil Gaiman and Andy Kubert) and Arkham Asylum (Grant Morrison and Dave McKean).

There was also Kabuki (David Mack), the aforementioned GJ’s Blackest Night’s series, parts 1 and 2 of Old Man Logan (Mark Millar and Steve McNiven), the New Krypton (GJ, again!)... the list goes on and on…

Next occasion considerations.

Yep. It’s been a while since I hung around the aisle of Kinokuniya’s comics’ section.

Perhaps the next visit will see even a paperback compendium of Secret Wars?

That'd be nice.

Pemanduan Berhemat

You have to pity Pemandu CEO Idris Jala these days.

Suddenly, in the eyes of the public, he is the subsidy “Bogey Man”. Never mind that he had apparently re-asserted his qualifications for the “bankruptcy” statement. (Not the one about being like Greek, though. Curious that especially since the European Union member is allegedly corrupted to the hilt if detractors are to be believed.)

Now Bernama says Awang Adek says “Malaysia will not go bankrupt in 2019 even if a subsidy totalling RM74bil a year is continued”. (Not verbatim, but paraphrase so expect qualifications here to.)

What does that say? That Idris is talking cock. That “the country’s economy would not be as bad as it had been portrayed such as not being able to repay its debts should the Government continue its subsidy programme.”

Being essentially the government’s mouthpiece, such reports are to be expected from the backlash so far from the “talking” public. Subsidies, and correspondingly the inflationary pressure in their doing away with, are thing no right-minded politicians (unless you’re in the opposition) will want to touch.

Exactly the reason why Idris is IT. IT being the Bogey Man.

Never mind. Brickbats notwithstanding, Idris (and all those TOP people) don’t need ANY subsidy unlike the rest of us Rakyats in meeting ends.

The fact that they still do get them must irk them a whole lot, eh?

Yaking Yaks

I have discovered another reason why we are stuck in the land of the middle-incomers.

We YAK a whole lot but do too little.

The Star had this headline on Tuesday March 23 shouting: “Apply online for Year One” and I thought to myself: "Finally."

I however rejoiced too soon without taking into account the “We YAK a lot but do too little” syndrome.

As I try to log on this morning, a blank, thoroughly white, page stared back at me with the teeniest bits of alphabets spelling: “The service is unavailable.”

Browser-sensitive apps, perhaps? Nope, it was the same on Explorer.

I mean, what gives Edu hombres? (I shall restrain myself from saying WTF here).

The report had all the right (ahem) hypes – “more efficient”, “reduce cost”, “check online”, “appeal online” - BLA BLA BLA. See: We do YAK a whole lot.

Bloody Naif Malaysian Malay Chap; that’s who I am.

Our PM, NTR yesterday announced quite a whole lot of things a whole lot of Malaysians have come to know for quite some time now. At least I think so.

Still, they do make good reading because these are finally in print.

Especially resounding is the bit about “the Government would no longer tolerate practices that support the behaviours of rent-seeking and patronage”.

We are talking about those who thrive through a combination of charm, some perceived (or actual) connections with the who’s who and a whole lot of “butt-kipas’ing” talents without having to put in the actual work, aren’t we?

(Yes, I do think that butt kipas’ing is talent based. Either you have it or you don’t.)

A query, though: Is the government frowning on the practices that support the behaviours, the act of rent seeking and patronage or the rent seekers and patronage(rs)?

Furthering the advancement of something removes the responsibility of actually advancing the something, mind you.

The Sun report has another weird bit.

In its “Planning for a high-income economy” under the Inclusive sub-heading is the following: “No Malaysian lives in poverty. Our first priority must be to eradicate poverty, irrespective of race.“

Exactly whose poverty are we talking about here, eh if “No Malaysian lives in poverty”?

A way too literal translation, perhaps?

I am not going to nitpick the NEM (love all these acronyms!) as the whole plan is quite positive in its objectives and visions.

Just like the so-called “Apply online for Year One” thingy: All great stuff for us.

Alas, as the highly clichéd saying goes: “The proof is in the pudding.”

Or in our context: the kuih lapis, bingka, et cetera.

C’est la vie.

The Business of Space Exploration

“The (10-year old) Angkasawan programme is a long-term research and development (R&D) project by the government in the global race to master future technologies, which have and will likely continue to create highly lucrative commercial uses in many industries ranging from medicine to cosmetics and even entertainment.”

Major “Angkasawan Kedua” Dr Faiz Khaleed (and a Russian-born colleague Said Saidov) summed it up quite nicely for us to understand what space exploration is all about in the Malaysian Insider interview.

In a single word: Money.

Look at it this way: why do we even need to send a human to space, when a functional robot would be an even better bet in collecting data?

The moon is barren; Mars is way too far for mankind to explore as of now (and probably just as barren as the moon).

Hell, we can appreciate space and all its marvels in the comforts of our home; and our children still be piqued to study the sciences behind all those rockets sent off and satellites orbiting the earth.

The US does it as it wanted to be the first – especially since Russia (as she was before) was also keen to be the first.

So space exploration was about one-upmanship between the two.

There is another reason: Star Wars.

The same technology that sends our good old Angkasawan into space is also the one powering all those ICBMs lying idle all over the world.

And what one has, the other needs to also have.

There is much moollah to be made in the space tech industry, especially with Governments' amongst your main clients.

Now that Russia is but a very pale shadow of itself, its space experiences come in handy in the (ahem) public/private space-exploration-venture business.

Pardon the overly clunky term.

Dr Faiz mentioned the nicer things that have filtered down to us: the thumbdrive (really?) and carbon fibres for cars and computers.

I wish he talked more like a comic geek: of fantastical things like space travel, time warping, teleportation, space hibernation, etc.

Science is dry, but fantasy is not, good Dr.

MInsider said Dr Faiz was pretty nonchalant on the whole “Space Tourists” labeling of him and Datuk Dr Sheikh “Angkasawan Pertama” Muszaphar Shukor.

If I were in his shoes, I wouldn’t be too concerned either.

It would be a dream trip, in fact, if I'm young and single.

To be Buck Rogers, Luke Skywalker, Flash Gordon again.

The good of mankind?

Right.. Right.. Good of mankind. Check.

Alpha Flight's Vindicator

Adroit Whatchammacallit

I must admit having to do a double take on my views of Malaysian Premier Najib Tun Razak.

The recently unveiled Budget 2010 is a stroke of brilliance on his (and his team’s part) especially in managing the push-pull factor that is inevitable in ensuring the country has enough in its coffers and at the same time score the all important political brownie points with the Rakyat.

Witness the tax on credit card.

In one stroke, Najib managed to push the message across that the government cares on the proliferation of credit cards and its burgeoning debt levels and at the same time, get back some of the excess profiteering from the card issuers.

Expect a majority of credit card issuers to offer their clients absorption of this tax.

After all, it is they who would lose out if all of us were to cut our cards ownership to a measly one card per person.

To the credit card issuers, the tax imposed is chicken feed easily recouped from the interest on outstanding without batting an eyelash.

Shrewd moves.

When the budget came out, I thought - probably like everyone else – Najib was doing the usual sleight of hands trick of feeding with the right and taking with the left with all the so-called goodies.

The increase in personal as well as EPF and insurance and broadband subscription reliefs, income tax reduction for those earning more than RM100k annually against the aforementioned credit card tax, the Real Property Capital Gain Tax imposition and news of an impending cut in fuel subsidies.

The latter and the National Automotive Policy would be the most important thing to look out for next.

Dare I make predictions?

Here goes anyway: Fuel subsidies will be no more for everyone at large, and accorded only to the following sectors/segments; public transportation, charitable bodies and senior citizens.

The rest of the population – including the poor and hard core poor – will pay the market rate; thank you very much.

NAP is a much tougher cookie to predict; unfortunately the country’s far-too-long high excise duty scenario preclude any such withdrawal which would have the effect of crippling the second hand car industry as well as the national car maker, Proton.

Is a consolidation in the offing?

Looks pretty likely, as the advantage is plenty of a single conglomerate as opposed to (how many so-called National Car Manufacturers do we have currently?) to several especially in terms of economies of scale.

Can it be done though especially with regards the foreign makers shareholding in Perodua, Naza and Inokom (did I miss anyone?)

Heck do I know, but the current scenario in so many pseudo national cars running around is laughable when everyone knows these are rebadged versions.

The benefits for us would be in the medium to long term, unfortunately, via the weaning in government subsidies to the national (too big to be allowed to fail) car maker – whatever name it would assume, and the slow reductions in excise duties for a more open-market scenario.

Back to Budget 2010.

I wish there were some kind of tax on the foreign-laborer intensive industries/sectors though I suppose such an imposition would rake back whatever gains in growth so sorely needed in these tough conditions.

Next Budget, maybe?

PS: This posting doesn’t mean relate to my thoughts’ on the Premier’s political moves, though.

Wondering, too, if the recent Ong and Chua peace handshake is a Quid Pro Quo related to the PKFZ scandal.

Future responses from Ong on the matter will tell.

Beautifully Anonymous

Hybrid Morbidities

We’ve got some kind of world record here though not exactly the flattering type.

According to the AG (Auditor General, not Attorney General mind you), a government owned Proton Perdana is indirectly a world class fuel guzzler worthy of mention in, at the very least, the Malaysia Book of Records.

It manages a monstrous fuel consumption figure of 17.34l per km, or 0.06km (that’s 6cms) for every litre.

(The Hummer H3, the smallest Humvie, is said to get around 6 km per every litre in city driving conditions.)

The above figure is based on the assumption that the Perdana went full throttle at its supposed top speed of 205km/h during the record setting feat between 12.14pm and 12.15 om on Dec 14, 2008.

(Either that or the pump attendant (what self service?) didn’t put the nozzle in the right hole when pumping in the RON97 into the Perdana’s fuel tank.

Are you thinking what I am thinking? Now which hole did the fuel go into, eh? Wicked! )

My take is that it was (still is?) indeed a record breaker as the same Perdana managed the same feat a few days later on Dec 19. And so on.

Wow.

The now-in-abeyance-but-formerly-the-state-government of Perak (and Terengganu, too) so badly wanted to offload their Perdana V6s in place of Toyota Camry’s on the pretext that it’s one high maintenance car.

On hindsight: they got it Wrong, Wrong, Wrong.

Look at it this way:

By continuing to use the Proton Perdana, these state governments (and others too) would be helping the economy grow with frequent fuel purchases (provided, that is, they all fill up at Petronas who is one of our country’s main financier) as well as injecting some needed boost to the car servicing industry.

Methinks these people never heard of the phrase “trickle-down-effect”. Dumbos.

Sadly that last phrase refers to me too.

I have since given up my nationalistic tendencies in helping push through this “trickle-down-effect” thingy with the selling of my Proton Gen2.

Now, I no longer contribute with frequent fill-her-ups at the pumps (Petronas, of course!), or the equally frequent visits to either Proton, approved vendors or the under-the-tree mechanics for the bi-tri-or-more-monthly maintenance / repairs / whatcammacallit, as well as boosting the tow-truck industry every now and then.

I am so (blipping) sorry for my lack of patriotism. Really am.

Gluttonic Tendencies

“We cannot continue transferring the nation’s wealth to those at the apex of the economic pyramid while hoping that someday, maybe, the benefits of that transfer will trickle down in the form of steady employment and improved living standards for the many millions of families struggling to make it from day to day.

That money is never going to trickle down. It’s a fairy tale. We’re crazy to continue believing it.”

This was written by NYTimes columnist Bob Herbert in his commentary aptly titled: Safety Nets for the Rich.

BH spoke of the amazing dichotomy, and incredulous imbalance, in the multibillions in bonuses for Wall Street bankers and the straight jacketed American public, faced with keeping their day job intact even as the country’s deficit grows to US$1.4 trillion.

That is a huge sum in deficit to be covered.

Probably the US would be able to ride their deficit storm, but the longer its economy remains in the doldrums, this figure would continue growing.

What is Uncle Sam to do?

What else but what it does best: send out young Americans to far-away land to fight the good fight for democracy.

I digress, but this posting is not about the US of A.

According to BH (Bob Herbert, not Berita Harian), two-thirds of all the income gains from the years 2002 to 2007 went to the top 1 percent of Americans.

I’m wondering what the percentage is like for our country.

A country will probably prosper if the middle class (in terms of income) is the biggest of its population segment simply for the fact that it would relieve the state from the burden of socialism, which is the reality of subsidies anyway.

State handouts should be restricted only for the poor and hard core poor segment in a country.

Given a scenario where there is fair distribution in wealth – which meant that the poor and hard core poor will be fairly small in size – there should then be an equally fairly equitable distribution in the variety of levels of services.

Far too Utopian a scenario?

Perhaps, but shouldn’t it be the kind of future we should be looking at?

Tun Dr Mahathir was a firm believer of the trickling down theory, whereby the giving of a select few of gargantuan amounts in opportunities to grow and become wealthy would help kick start the downstream effect.

Didn’t work, as the Statesman missed out on the strength of one of mankind’s seven sins: gluttony.

What we got was a suppressed labor market where the wage levels in the 1990s and in 2008 remains pretty much the same plus or minus a few Ringgits for the low paid income earners.

Looking at the many “revelations” from the Auditor General this year, the leaks in RMs that could have instead gone into the economy is same old same old.

(No convenient links here: they're all over the place.)

Old news really, as nothing came out from the AG’s revelations last year.

Surely we're not expecting anything else this year, are we?

Just like it was before, trust us to go about town with these, and watch the furor over what could well be criminality (at least for neglect) in the handling of public funds die a typical Malaysian style death.

Aren't we ever the forgive-full.

Like BH says: It’s one Big Fat (Blip)ing Fairy Tale Dream to be hoping for the hammer to fall on these miscreants.

Semuanya OK.

Whatever the (blip) that means.

Biggie Picturie

"Why don't we just let the behemoths lay down and then make room for the small businesses?"

"When the elephant falls down, all the grass gets crushed as well”.

Kansas City mother Janelle Sjue asked the question and Federal Reserve Chairman Ben Bernanke answered.

Bernanke was fielding questions on the decisions made by the US government to bail out the so-called financial “behemoths” before some 200 attendees to a town hall like meeting in the city’s Federal Reserve Bank.

The Wall Street Journal calls the session an unusual forum, the latest in a series of similar meetings by Bernanke mainly to explain his role in the massive bailout and lending.

To critics, behemoth is the right phrase with the US unemployment level at a 26-year high of 9.5% despite the signing of in February of a US787 billion stimulus package.

This is however not about the US economy, the stimulus nor Bernanke.

Well, perhaps only a bit about the soon to be expired (job-wise) US Fed Chairman.

(Now you see why he is going around the country explaining, eh?)

I'm wondering if this explaining to the masses one-to-one your policy decisions a norm in the US.

Can’t imagine Bank Negara Malaysia’s Zeti Akhtar doing the same here; but then again, she is not supposed to as this is the realm of the politicians.

Politicians are, after all, tailored for hogging limelights.

Asking questions in one-to-one session here is also far tougher since we (not all) seems to have this in-built reverence to especially our officios with honorary titles in front of their names.

You can just picture how difficult it is to ask as a question like Sjue’s when it has to be preceded by a whole tirade of titles.

By the time you reach the word why – the impact will be lost.

Of course, this time and age of openness (with thanks to our fifth Prime Minister), some would probably blast away, much to the indignation of the politicos’ subordinates.

I don’t foresee these questioners expecting an answer anyway with most of these “sensitive” questions mainly put out in the open for shock value.

That said, I do pity the likes of Bernanke and Zeti, and all the other National bankers around the world.

Being in the government meant that you have to look at the bigger picture.

Sure, these are “dubious” beneficiaries you are bailing out, but – as the oft quoted defense goes – their failure would be far more catastrophic for the masses.

Personally, they may well let these risk takers swim their way to financial hell without any lifejacket.

Bernanke said as much to the effect:“nothing made me more frustrated, more angry, than having to intervene.”

Big Picture comes in.

Whatever personal disgusts then take a back seat.

Big picture is also the oft quoted remark by our politicians when justifying rolling over minority interests.

In our usual meek self, we’d then response with the other well-used phrase:

“We are not against development…”

That’s another big reverence for us: development.

So what if the behemoth stomp on us while grazing their fill, eh?

We have to revere the Big Picture.

An example of a behemoth