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A weblog about life / politics/ impressions of Malaysia through the eyes of a foreigner




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Monday 24 March, 2008
17 Rabbi al-Awwal 1429AH

A weblog by Albert. From my home in Yan Kedah. I reside here since 1992. See here to know where Yan is.

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23/03- you call it fair?
22/03- happy easter ...
22/03- michael backman's latest.
17/03- out of the picture
17/03- good friday...
16/03- oil prices...
16/03- green peppercorns.
16/03- felling a giant.....
12/03- the travel & tourism competitiveness index
12/03- liver sausage and liver paste

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 Oil prices... - by @lbert
  Posted:16/03/2008 - 20:41 - in category: politics Malaysia
The PM confirmed again he will not raise the prices of petrol. With the hard fact that the oil price is above US$ 100 and the fact that the government wants the ringgit to be competitive, this will be unsustainable, and thus is a nonsence statement.
Last year oil subsidies were about 40 billion this year they will go above 60 billion, where to get the money? Suck Petroliam Nasional dry? Or go on the money market and borrow money again. Borrowing money means jacking up inflation which is now already at least 5% to a level of 8-9% (because the government borrows but only pays back with new loans)
This makes the rate for FD's and BLR ridiculous, and the BLR will have to go up to at least 5%. In a healthy economy the FD interest level is at least 1% above inflation level. In Malaysia it is already for several yars 2-3% below inflation level, go figure....
All those pensioners with some money loose every year more and more.
Another BN project with fatal outcome for your savings.
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