Who To Believe? Economy On The Road To Recovery?

Malaysia's domestic demand is showing clear signs of recovery prompted by the fiscal stimulus and an accommodative monetary policy, Bank Negara Malaysia (BNM) Governor Zeti Akhtar Aziz said today.

"We have seen the worst and there is now across the board improvement but the external sector has to show a more significant improvement in terms of external demand.

"But there are clear signs of recovery in domestic demand which has benefited from the fiscal stimulus and the accommodative monetary policy," she said.

Read The Rest Of Her Bulls Here..

At the same time, Telegraph came out with 'Economic recovery may be false dawn, warns Bank' today.

Now I wonder who to believe here. Is our economy now on self reliant mode? Are we sustainable purely based on domestic demand? Have we decouple ourselves from the rest of the world?

Tell you what I think here based on my experience. History has it that each time our leaders come out reassuring us, it's actually a sign of desperation. Remember during the 1997 financial crisis? Everyday we have our then PM cum Finance Minister harping down on us that our economy was still okay.. What a humbugger he was! And he wasn't alone then. Our bank governor joined in chorus. And each time they opened their mouth, the truth prevailed.

With that, I wouldn't buy their assurances if I were you...

67B rescue package working? Maybe the first 7B package is in progress as it was there to feed the warlords for their blessings to be PM. Read between those lines properly on how the money was spent.

Read Here.