Household income up shows we're poor little rich M'sians?

Household income up under Najib, claims economist

Anonymous #76965586: What a stupid comment from the Malaysian Rating Corp Bhd (MARC), which is devoid of any economic logic.

If you keep increasing the budget deficit significantly every year, you may achieve higher family income (based on average family income), but the nation may go bankrupt very soon.

With an average income increase of 7.2 percent per year for the past three years (actually, the rakyat didn't really feel the increase), the national debt has almost doubled (it reached more than 55 percent of nation's GDP).

If we allow the trend to continue, our nation may be bankrupt within five years. By that time, we would be an insolvent nation rather than a high-income nation. BN and their cronies lie, time and again.

Onyourtoes: ‘Average' is a very dangerous number in statistics. A class of students with half of them scoring 100% while the other half scoring zero will give you a comfortable 50%.

I see average monthly income being quoted here and there, but what about the spread or the dispersion around the average income.

You see, those who qualify for BR1M are households with an income of RM3,000 and below - the number of households in this category has actually increased judging from the amount given out under BR1M 1.0 and BR1M 2.0 (unless there are fraudulent claims).

So MARC chief economist Nor Zahidi Alias, before you spin further, can you please explain what I have pointed out. I am sure as a macro-economist, you know what is spread or dispersion.

Awakened: I agree with Onyourtoes that ‘average' is a very bad measure of household income.

I think the average Chinese could be the poorest among the races because the Chinese have the most number of billionaires and millionaires. The few percent of billionaires already account for half of the total household incomes of all Chinese in Malaysia .

I suggest in future the economist should use ‘median' instead of ‘average'. ‘Median' will ‘take away' the heavy effect of the super rich and we can then see a better representation of household income.

MockingYou: The racial breakdown of household incomes is a form of BN's divide-and-rule method.

Further, it seems like this news from Bernama is telling everybody that it's okay for Prime Minister Najib Razak and gang to continue doing what they've been doing since 2009 as the rakyat too have benefited from their form of governance.

MockingYou: I've said before that I'd like to see GDP as a measure of growth, but to see it being spun out of proportion or being stated as a one liner here is not right.

‘Economics for Dummies' and what they don't teach at Harvard says that we should ignore the percentages first as they're derived from a certain ‘x' amount.

But instead, go straight to the buying power of that same ‘x' amount given any period of time (and you would get a clearer picture of whether there has been improvement or not).

And if those smarty pants want to comment about the eurozone and United States, then please include all the facts as to why those economies are in such predicaments in the first place.

Anonymous112233: I just wonder whether all these economic statistics are true. For example, I am very sure that as far as hawker food in Penang is concerned, a 10 percent increase every year is very common.

Anonymous Cat: I wonder what would happen to the statistics thrown up here on increases in household income if we deduct the amount families have received in the BR1M 1.0 and BR1M 2.0 payouts.

Selangor MB wants MACC cited for contempt

The Malaysian: The settlement terms are so simple to implement and yet the Malaysian Anti-Corruption Commission (MACC) does not comply.

So, it is very clear what kind of character its former chief commissioner Ahmad Said Hamdan is, and how low the MACC is and what Prime Minister Najib Razak stands for.

Fairnsquare: It is no joking matter when the judiciary is not respected. A breach of a judicial decision is contempt. I am sure the MACC is aware of this.

SA Tombs: It's about time these clowns are taught how to respect the courts. Quite recently, we had an ACP who refused to accept a subpoena and used derogatory words.

All this started with that uncouth former PM Dr Mahathir Mohamad who belittled the judiciary and the royalty.

Now that culture is so widespread that if we the lesser mortals do the very same thing, they would take us to the cleaners.

I don't know who the judge was, but quite a few of them are scared to commit government officials for contempt. They would probably skirt around the issue instead of being firm.

Aries46: Selangor MB Khalid Ibrahim, you said that at first you sued Ahmad Said for falsely accusing you of corruption, which means that he is a liar and has no credibility. Then you say that you agree to an out-of-court settlement with Ahmad, who has no credibility.

Now you say that they have got no credibility because they did not to honour the terms of the settlement.

I don't know whether to feel sorry for you or to give you a good tongue-lashing. Why couldn't you just go ahead and strip him of his last dollar when you had the chance? Are you sure you bought the buffalos with your own money?

Hbasill: Khalid, now you know why you should not have agreed to an out-of-court settlement. You are still learning when others have learnt and would have opted to see the trial through.

Black Mamba: It is highly impossible for Ahmad Said to apologise in the print media when GE13 is around the corner. BN can't be admitting their mistakes in public even if the court instructs so.

They may get away with contempt rather than publishing an open apology in the mainstream media. After all, BN owns all the ministries' machinery and the mainstream media.

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