Stupid Malaysians

Malaysians are stupid-1991
Malaysians are stupid-1992
Malaysians are stupid-1993
Malaysians are stupid-1994
Malaysians are stupid-1995
Malaysians are stupid-1996
Malaysians are stupid-1997
Malaysians are stupid-1998
Malaysians are stupid-1999
Malaysians are stupid-2000
Malaysians are stupid-2001
Malaysians are stupid-2002
Malaysians are stupid-2003
Malaysians are stupid-2004
Malaysians are stupid-2005
Malaysians are stupid-2006
Malaysians are stupid-2007
Malaysians are stupid-2008
Malaysians are stupid-2009
Malaysians are stupid-2010

Why are Malaysians so damn bloody stupid?
Malaysians DO NOT like me and yet I must remain in Malaysia....

Great Speeches

For many months I have been studying the great speech made by the late King Edward VIII when he abdicated his throne to marry Wallis Warfield Simpson.

The paragraph which I really like is:

" But you must believe me when I tell you that I have found it impossible to carry the heavy burden of responsibility and to discharge my duties as King as I would wish to do without the help and support of the women I love "
(source http://www.historyplace.com/speeches/edward.htm)

There is no Malaysian women, none what so ever that I love.

Body Language

I didn't take up Psychology as one of my electives while at Commerce (now ESB) Usask Canada. But I took Sociology instead. Although it was a long time ago, I can still spell Weber correctly.

Talking about body language, Malaysians are stupid in reading my body language. They said I enjoyed staying in Malaysia while the fact is I hate staying in Malaysia, I hate celebrating Hari Raya in Malaysia. It has been 20 dull Hari Raya since 1991.

Compare 1) Tun Dr Mahathir enjoyed himself as Prime Minister of Malaysia for 22 years. He is a national hero.
2) I'm no camparison to Tun Dr Mahathir per se but 20 years in Malaysia since October 15, 1990 has been hell. Malaysians despised me.Malaysians hate me but Malaysians refuse to let me go to Canada. I'm willing to do anything to leave Malaysia coz I ain't got nothing.

Selamat Hari Raya Aidil Fitri

Muslims in Malaysia will celebrate eid ul-Fitr i.e. the end of Ramadan tomorrow Friday September 10th, 2010.

To all my readers Selamat hari Raya Aidil Fitri, Maaf Zahir Batin.

DODD-FRANK ACT

New Financial Reform
Although I received my financial education in Canada, I must admit that I was not familiar with the American Congress. Thus referring to my tweets, there was a confusion whether President Obama has signed Dodd-Frank Act. Answer; YES , President Obama has signed Dodd-Frank but the American senate is yet to do its part.

The point is April 21, 2011 when Dodd-Frank Act will be in action.

Reading comments from corporate jargon it is envisaged that the new act will not deter the next financial crisis expected in 2015. Past crisis tend to occur every 5 to 10 years. Beginning with the collapse of LTCM in 1997/98 then the mere crisis after 9/11 and eventually the events in December 2007 there is no full proof that Dodd-Frank Act would deter another financial crisis.

One loop hole in Dodd-Frank is the 150 billion resolution fund. Say in the future a firm is dismantle and 50 billion of the fund is used up, will those big firms have to inject another 5o billion to maintain a 150 billion fund or will it be sinking? How do we determine a firm as a threat to the economy? Maybe a company with lots of cash and invest it to buy liquid assets or a firm with healthy balance sheets but with less cash flow. I still consider GM & Chrysler a risk to the global economy because they are yet to repay their debts and obtain a reasonable debt to equity ratio. But we know both GM and Chrysler need no further restructuring. GM is on the right track to introduce an IPO. It will be nice to own some of GM's new IPOs.

Accruals and going concern

MERDEKA - 53 YEARS

TODAY 31ST AUGUST 2010,
MALAYSIANS CELEBRATE 53 YEARS OF INDEPENDENCE.

Merdeka
laungan keramat itu telah bergema 53 tahun lalu
nescaya sebak hati Sultan Mahmud yang tergadai Melaka pada 1511
kerana seorang anak raja Kedah telah memerdekakan tanah airnya
biarpun hanya rohnya yang mampu melihat pembebasan itu

53 tahun bumi ini dipupuk
dengan pembangunan rohani dan jasmani
janganlah dek kerana tamak digadai apa yang kita kecapi sejak 1957 lalu

Ayuhlah, bangkitlah
oraklah langkah agar kemerdekaan ini akan terus dikecapi
sanggahlah si pendurjana bangsa
agar negara ini terus beraja di hati umat makhluk
kerna
KITA KAN TETAP GAGAH DI NUSANTARA

Lower 2nd Qtr GDP

Quarter 2 GDP 2010

BNM gave a lower 8.9% GDP figure for quarter 2, 2010. I assume this is due to the slower global GDP growth. Personally the Najib administration must prepare for a lower GDP target for 2010. (previously forecast at more than 6%)

Relaxation of foreign exchange rate rules

On August 18th 2010 , the government decided to allow the use of MYR when dealing with foreigners for trade settlements. The next day the ringgit was at its peak. I am not sure as to the MYR rules when a resident goes overseas. In September 1998 when the MYR was pegged to the greenback, residents were only allowed to carry a certain amount of cash. I am not sure if this rule still applies today since I HAVE NOT BEEN OUT from Malaysia for the last 20 years.Even so I am not sure if the sum was just cash or was it everything i.e. all the banking instruments such as travelers check and credit cards.

Ramadan

Its that time of the year again. Ramadan is coming soon. This is the month when Muslims would fast from sun rise to sun set. As I checked the prayer times , it is also the same time as the fasting month in the year 1988. In 1988 while in Saskatoon Muslims were fasting at a much longer time i.e. from 4.30 am to about 9.30pm. Honestly I don't know how I fasted for 30 days with the high summer temperature and outfits. You know, with all that Caucasian girls wearing shorts sometimes without their bra attending summer classes.

To all my Muslim and would be Muslim readers,

Happy Ramadan.

The New Path of FINANCE

When I first read the Reform Financial Bill, I was quite excited because it is supposed to overcome the hick ups of the recent credit crisis. But as I read it over and over again there are some things which need more attention.

Referring to my twitter, the consumer protection agency should protect the consumers of FSI's. I mean it just doesn't make sense if a bank receives tax payers money and yet still pay huge bonuses to its top execs.

Obviously the exceptions for big cos in derivatives trading is a major set back. The big cos have all the resources and will to make money, yet they will be spared the regulation on speculative trading, I presume. Initially companies trade in futures, options, cds, swaps etc to hedge against systematic risks but as time passed by everybody will speculate. By then 'BETA' will be a thing of a past.So a big company with vast resources will escape the evil mechanics of speculative trading but a small one will be subject to harsh regulations. It is not fair to the small fish.

The most interesting part is where the government can dismantle a healthy firm if they are considered a grave risk to the economy. So I guess Fannie Mae and Freddie Mac, GM, Chrysler would fall in this category. What if the white house did not approve tax payers money to bail out these firms? Certainly the US economy would come to a halt.Maybe BP and Enbridge would also fall in this category. But BP is British (with an American CEO of course) and Enbridge is a Canadian firm. I guess NAFTA(North American Free Trade Agreement) and free world is the obvious answer.

The word is CREDIT. To have a clean balance sheet banks can rely on Mae and Mac. Yes the bank's balance sheet is healthy BUT the burden has shifted to Mae and Mac. Mae and Mac have no one to turn to except the government in order to clean its balance sheets.Its like transferring our credit cards balance from one bank to another. No matter where we move those credits it is still there in the cycle. We must find a way to eliminate that cycle. In my opinion this is the real cause of credit crunch. The property bubble and high interest rates is just part of it.

BUT as my critics will say who am I to talk a lot about bankruptcy, winding up and foreclosures...

I knew from October 15th 1990, as I reached KL, Malaysians hated me. And it will be 20 years come 15th October 2010. Malaysians DISLIKE me but I am not allowed to go to Canada.Isn't that stupid? If Malaysians hated me say 1001 times then I also hate Malaysians a million times.