Poor Mr. President. 3 weeks into office and his first challenge to recover the economy by trying to induce USD800b stimulus package has encountered tremendous amount of pressure. It is a huge dilemma. USD800b is a huge amount of money. Just imagine our RM1 million. Is already a lot in our terms. What more USD1 million. Here we are talking about USD800 billion. How many generations needed to recover that huge amount of money?
Why people reject the idea to induce the huge sum? Imagine this. When the economy is doing fine and dandy, who benefits the most? If a bank makes a profit, the profit is shared only among the shareholders. The depositors make peanuts. We make peanuts in general via the negligible interest. But what happens when a bank is on the brink of bankruptcy and need a savior? The government offers to save it by using the public's money (that's our money if you forget). See, when they are OK, they make the rich become richer. But when they are in trouble, we have to rescue them. That's why when Malaysian government saved our banks way back in 1997, there was big criticism from the western world. But hey, look what's happening to them now? Who's rescuing Citibank, Bank of America, GM, Chrysler, Ford, etc etc?
Obama is facing such a mounting task to bring the economy back thanks to his **** predecessor who was obsessed with WMD (weapon of mass destruction) and who was afraid most of the AOE (axis of evil). If he continues to disburse the money, he will be seen as using the public's money to save the rich people. But if he doesn't fork out the stimulus, the economy will further slump. This is a real humongous dilemma.
To think about this is so much better than to take a peek at the Malaysian political scene. Sungguh memualkan.
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2 comments:
If he doesn't save the companies... the severely affected will be the employees too - the workers and hard laborers especially. Their number is much much bigger collectively, and they need the money more than 'the rich' at this time.
Hey ya Mrs Loke...you're right. Bottomline is to get rich and become shareholders of major banks and companies. In the good time, reap the dividends and enjoy the taste of wealth. In the bad time, keep quiet after you sell off all your stakes. That's why rich people become richer in whatever times.
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