YOURSAY 'That's Najib's explanation of exponential growth. It takes 50 plus years to accumulate RM250 billion in national debt but four years to double that.'
PKR: Najib no match for Anwar as finance minister
Starr: This is not unexpected. PM Najib Razak has pulled a fast one on the rakyat in showering praises on himself.It shows he simply lacks economic credibility as he presides over a period in which the national debt has doubled in his quest to boost national income.
Such economic management has no place in the textbooks of modern economic management as being prudent.
Never mind about comparing himself with Anwar, he didn't even have the honesty to address the causes of our economic ills precipitating our own fallout.
Seeing what Singapore has achieved economically today, we should take a serious look at ourselves to see where we have gone wrong in terms of policy.
What Singapore has been able to achieve today represents what we suffer in terms of opportunity lost.
Like it or not, the fact that even Umno cronies in the National Feedlot Corporation (NFC) scandal have seen fit to park their monies in Singapore speaks volumes of their economic success.
Ourvotesdecide!: Under Najib, our national debt is RM500 billion. When Anwar Ibrahim was finance minister, we did not hear of such huge debts. So, clearly Najib is the failed finance minister.
In any case, if Najib is so confident of his capability and competency as a leader, when is he going to accept Anwar's challenge to a public debate?
Shamelessly, Najib is until today cowardly avoiding this debate. Clearly Najib is afraid of the truth. Anwar is not. That's the difference.
Jedi_Who: Najib is, however, an outstanding women's minister; he is too scared to debate with men so he hides among the women and throws insults at the opposition.
Onyourtoes: Prior to the Asian financial crisis of 1997/98, most East Asian economies grew rapidly, not just Malaysia.
The foreign investment, both portfolio and direct, were unprecedented.
That was the era of go-go economies but the subsequent meltdown was felt in many countries from South Korea, Thailand, Indonesia to Malaysia.
Therefore, Malaysia's sparkling performance prior to the crisis was not due to then PM Dr Mahathir Mohamad or then finance minister Anwar Ibrahim, as most countries have benefited from the inflows.
There was no shortage of fund and no deficit spending was necessary to keep the economy buoyant.
However, when the flows reversed, many countries suffered as seen during the post-crisis period.
If there is any lesson learned from the crisis, one must always be vigilant and prudent when managing the economy.
Singapore was much more vulnerable and yet it was able to weather the storm relatively much better than many other countries.
The basic principles are: there are no free lunches, no excessive borrowing, and no wasteful projects and unproductive investments.
Malaysia has used its financial strength (especially from our rich oil and gas revenue) to delay restructuring its economy.
Instead, that strength is used to provide bailouts and to continue our profligate ways.
Because of that, our fiscal position has turned from surplus to deficit and the deficit has turned from being cyclical to structural.
If we look at the change in debt each year (which more or less is the proxy for fiscal deficit in absolute term each year), the trend in recent years is quite frightening.
Jaguh: That's Najib's explanation of exponential growth ... of debt. It takes 50 plus years to accumulate RM250 billion in national debt but four years to double that.
Kudos to Najib and his team of merry thieves. I love this country enough to make sure we do not end up like Greece. Can you imagine having Singapore and Indonesia bailing out Malaysia?
Unthinkable? Well, it will be if we don't vote them out.
Shanandoah: Najib is desperate, very desperate indeed. He has read the writing on the wall.
There is nothing he can do at this stage other than pray that he can hold on to his post as PM.
His speech at the Umno general assembly said it all. He is terrified of losing the elections.
YHJ Najib, it is very easy to make Malaysia a high income nation. Just increase every civil servant's salary on par with those in Singapore and even Australia, and you can boast about it in your election campaign.
Just forget about productivity and the national deficits. Hand out more money instead.
Joe Fernandez: It's difficult to believe that a person like Anwar, with a pass degree in Malay Studies from Universiti Malaya, would make a better finance minister than someone like Najib, with a honours degree in economics from the United Kingdom.
Wira Confucius says, "A newcomer with an honest heart will perform better than any corrupt expert."
This is proven in most Pakatan Rakyat-ruled states, including that first year in Perak.
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