back again without prejudice or malice...

First, allow me to apologise for being away without notice. I wasn't on strike unlike some of our re-owned bloggers. Nevertheless, i would give them the benefit of doubt for their decision as for most of us bloggers, sometimes we do get those pukie feelings following our country's political scenes. Truly lives up to its name.. 'Malay politics at its best/ugliest' depending how one would want to see it. Perhaps RockyBru knew something that we do not know especially so when PM came out with those 'treachery remark' on bloggers right after Rocky decided to take a 2 weeks break.

So why the long absence? Well, last Friday morning i was awakened by a call from my daughter, Samantha calling me from her room. She must have thought that i have left for work. Much as i expected for a call that come that early from a person who only wakes up at mid-morning, the news was that my father-in-law, the late Mr Lim Thong Yew, forgot to wake up that fateful morning. He was 84. So we did only the rightful thing by being there to help out and pay our last respect to a man who have graced a major part of our lives.

We arrived home from Ipoh on Monday night. Tired and worn out from an emotional trip. I was actually lost on the development of events over the last few days despite having update myself by glancing through some newspaper. Balasubramaniam, Protes rally and all those stupid statements made by our PM and DPM. Cant be bothered by them and their outright lies through their controlled MSM. What's important right now is to prepare and make arrangement for Samantha to further her studies in NUS. She is leaving for Singapore next Wednesday.

Boy, am i glad we made the right decision to opt out from the local offer of a Bio-medical engineering degree by University Malaya to the Science degree as offered by National University of Singapore after reading a letter by P. George in The Star yesterday. Any sane mind would have made the same decision as we did. Prestige and brighter future were the factors in our decision making despite the financial hardship that we may have to face later on. But these are small sacrifices for parents to make for the betterment of their children.

Excerpt of the letter from The Star below:

"I REFER to your report “Decision soon on apex varsity” (The Star, July 8). I would like to urge the authorities involved in making this decision to look closely at the public universities in Singapore, National University of Singapore, Nanyang Technological University and Singapore Management University which are funded by the Singapore government and which are the best in Asean and amongst the best in Asia and the world.

The well-regarded Times Higher Education Supplement (THES) World University Rankings 2007 shows the National University of Singapore (NUS) at 33rd place and the Nanyang Technological University (NTU) at 69th place, among the top 100 universities in the world.

Indeed, NUS is ranked among the top 50 universities in the world for natural sciences (25th), life sciences and biomedicine (12th), technology (10th), social sciences (20th) and arts and humanities (21st).

What will it take for Malaysia’s soon-to-be-decided apex university to be able to compete with the likes of NUS in Singapore, and more ambitiously, with the top 10 universities in the world such as Harvard, Cambridge, Oxford, Yale, Imperial College, Princeton, California Institute of Technology, University of Chicago, University College London and MIT?

If one were to take Singapore’s NUS as an example, one guiding principle would be to recruit the best available administrators and professors, lecturers, tutors and research assistants internationally and pay them according to international standards, while assessing their performance on rigorous and transparent criteria.

Another guiding principle would be to recruit the best students from within Malaysia and from other Asean and Asian countries based on clear and transparent meritocratic criteria.

Yet another guiding principle would be to provide generous funding for scholarships and bursaries so as to ensure that no qualified student, no matter how poor, is denied a chance to study at an apex university.

But given the situation in Malaysia, where the Government tends to regulate higher education and universities with a heavy hand, and where bureaucracy and national agendas call the shots, the drive to set up one or more apex universities could well be an expensive exercise in futility and be doomed to abject failure.

As it is, our best students are being lured overseas year after year, often with full scholarships, to top-ranked universities, with a strong possibility that they may not return to Malaysia after graduation. And this trend will intensify, given the global hunt for talent, both in the region and around the world.

Yet the government does not seem to have the political will to address the relevant issues in higher education head-on".

P. GEORGE,

Johor Baru.

Rest In Peace, Dad, Mr Lim Thong Yew

this one deserve to be in the hall of fame...

New light shed into the late Altantuya murder case that exposed our government cover-up to protect certain people at the expense of our country's reputation.. Talking about upholding our country's image. Sad that we still have idiots supporting them blindly. All their selfish interests and they bloody propagate on patriotism. This is their version of patriotism at its best!! Hypocrites!!

Statutory Declaration made pertaining to Altantuya's case below:

I, Balasubramaniam a/l Perumal ... do solemnly and sincerely declare as follows:

1. I have been a police officer with the Royal Malaysian Police Force, having joined as a constable in 1981 attached to the police field force. I was then promoted to the rank of lance corporal and finally resigned from the police force in 1998 when I was with the Special Branch.

2. I have been working as a freelance private investigator since I left the police force.

3. Sometime in June or July 2006, I was employed by Abdul Razak Baginda for a period of 10 days to look after him at his office at the Bangunan Getah Asli, Jalan Ampang between the hours of 8am to 5pm each working day as apparently he was experiencing disturbances from a third party.

4. I resigned from this job after 2½ days as I was not receiving any proper instructions.

5. I was however re-employed by Abdul Razak Baginda on the Oct 5, 2006 as he had apparently received a harassing phone call from a Chinese man calling himself ASP Tan who had threatened him to pay his debts. I later found out this gentleman was in fact a private investigator called Ang who was employed by a Mongolian woman called Altantuya Shaaribuu.

6. Abdul Razak Baginda was concerned that a person by the name of Altantuya Shaaribuu, a Mongolian woman, was behind this threat and that she would be arriving in Malaysia very soon to try and contact him.

7. Abdul Razak Baginda informed me that he was concerned by this as he had been advised that Altantuya Shaaribuu had been given some powers by a Mongolian ‘bomoh’ and that he could never look her in the face because of this.

8. When I enquired as to who this Mongolian woman was, Abdul Razak Baginda informed me that she was a friend of his who had been introduced to him by a VIP and who asked him to look after her financially.

9. I advised him to lodge a police report concerning the threatening phone call he had received from the Chinese man known as ASP Tan but he refused to do so as he informed me there were some high-profile people involved.

10. Abdul Razak Baginda further told me that Altantuya Shaaribuu was a great liar and good in convincing people. She was supposed to have been very demanding financially and that he had even financed a property for her in Mongolia.

11. Abdul Razak Baginda then let me listen to some voice messages on his handphone asking him to pay what was due otherwise he would be harmed and his daughter harassed.

12. I was therefore supposed to protect his daughter Rowena as well.

13. On Oct 9, 2006 I received a phone call from Abdul Razak Baginda at about 9.30am informing me that Altantuya was in his office and he wanted me there immediately. As I was in the midst of a surveillance, I sent my assistant Suras to Abdul Razak Baginda’s office and I followed a little later. Suras managed to control the situation and had persuaded Altantuya and her two friends to leave the premises. However Altantuya left a note written on some Hotel Malaya notepaper, in English, asking Abdul Razak Baginda to call her on her handphone (number given) and wrote down her room number as well.

14. Altantuya had introduced herself to Suras as ‘Aminah’ and had informed Suras she was there to see her boyfriend Abdul Razak Baginda.

15. These three Mongolian girls however returned to Abdul Razak Baginda’s office at the Bangunan Getah Asli, Jalan Ampang again, the next day at about 12 noon. They did not enter the building but again informed Suras that they wanted to meet Aminah’s boyfriend, Abdul Razak Baginda.

16. On Oct 11, 2006, Aminah returned to Abdul Razak Baginda’s office on her own and gave me a note to pass to him, which I did. Abdul Razak Baginda showed me the note which basically asked him to call her urgently.

17. I suggested to Abdul Razak Baginda that perhaps it may be wise to arrange for Aminah to be arrested if she harassed him further, but he declined as he felt she would have to return to Mongolia as soon as her cash ran out.

18. In the meantime, I had arranged for Suras to perform surveillance on Hotel Malaya to monitor the movements of these three Mongolian girls, but they recognised him. Apparently they become friends with Suras after that and he ended up spending a few nights in their hotel room.

19. When Abdul Razak Baginda discovered Suras was becoming close to Aminah he asked me to pull him out from Hotel Malaya.

20. On the Oct 14, 2006, Aminah turned up at Abdul Razak Baginda’s house in Damansara Heights when I was not there. Abdul Razak Baginda called me on my handphone to inform me of this so I rushed back to his house. As I arrived, I noticed Aminah outside the front gates shouting “Razak, bastard, come out from the house”. I tried to calm her down but couldn’t, so I called the police who arrived in two patrol cars. I explained the situation to the police, who took her away to the Brickfields police station.

21. I followed the patrol cars to Brickfields police station in a taxi. I called Abdul Razak Baginda and his lawyer Dirren to lodge a police report but they refused.

22. When I was at the Brickfields police station, Aminah’s own private investigator, one Mr Ang arrived and we had a discussion. I was told to deliver a demand to Abdul Razak Baginda for US$500,000 and three tickets to Mongolia, apparently as commission owed to Aminah from a deal in Paris.

23. As Aminah had calmed down at this stage, a policewoman at the Brickfields police station advised me to leave and settle the matter amicably.

24. I duly informed Abdul Razak Baginda of the demands Aminah had made and told him I was disappointed that no one wanted to back me up in lodging a police report. We had a long discussion about the situation when I expressed a desire to pull out of this assignment.

25. During this discussion and in an attempt to persuade me to continue my employment with him, Abdul Razak Baginda informed me that:

1) He had been introduced to Aminah by Najib Razak at a diamond exhibition in Singapore.

2) Najib Razak informed Abdul Razak Baginda that he had a sexual relationship with Aminah and that she was susceptible to anal intercourse.

3) Najib Razak wanted Abdul Razak Baginda to look after Aminah as he did not want her to harass him since he was now the deputy prime minister.

4) Najib Razak, Abdul Razak Baginda and Aminah had all been together at a dinner in Paris.

5) Aminah wanted money from him as she felt she was entitled to a US$500,000 commission on a submarine deal she assisted with in Paris.

26. On Oct 19, 2006, I arrived at Abdul Razak Baginda’s house in Damansara Heights to begin my night duty. I had parked my car outside as usual. I saw a yellow Proton Perdana taxi pass by with three ladies inside, one of whom was Aminah. The taxi did a U-turn and stopped in front of the house where these ladies rolled down the window and wished me ‘Happy Deepavali’. The taxi then left.

27. About 20 minutes later the taxi returned with only Aminah in it. She got out of the taxi and walked towards me and started talking to me. I sent an SMS to Abdul Razak Baginda informing him “Aminah was here”. I received an SMS from Razak instructing me “to delay her until my man comes”.

28. Whist I was talking to Aminah, she informed me of the following:

1) That she met Abdul Razak Baginda in Singapore with Najib Razak.

2) That she had also met Abdul Razak Baginda and Najib Razak at a dinner in Paris.

3) That she was promised a sum of US$500,000.00 as commission for assisting in a submarine deal in Paris.

4) That Abdul Razak Baginda had bought her a house in Mongolia but her brother had refinanced it and she needed money to redeem it.

5) That her mother was ill and she needed money to pay for her treatment.

6) That Abdul Razak Baginda had married her in Korea as her mother is Korean whilst her father was a Mongolian/Chinese mix.7) That if I wouldn’t allow her to see Abdul Razak Baginda, would I be able to arrange for her to see Najib Razak.

29. After talking to Aminah for about 15 minutes, a red Proton Aeroback arrived with a woman and two men. I now know the woman to be lance corporal Rohaniza and the men, Azilah Hadri and Sirul Azahar. They were all in plainclothes. Azilah walked towards me while the other two stayed in the car.

30. Azilah asked me whether the woman was Aminah and I said “Yes”. He then walked off and made a few calls on his handphone. After 10 minutes another vehicle, a blue Proton Saga, driven by a Malay man, passed by slowly. The drivers window had been wound down and the driver was looking at us.

31. Azilah then informed me they would be taking Aminah away. I informed Aminah they were arresting her. The other two persons then got out of the red Proton and exchanged seats so that lance corporal Rohaniza and Aminah were in the back while the two men were in the front. They drove off and that is the last I ever saw of Aminah.

32. Abdul Razak Baginda was not at home when all this occurred.

33. After Oct 19, 2006, I continued to work for Abdul Razak Baginda at his house in Damansara Heights from 7pm to 8am the next morning, as he had been receiving threatening text messages from a woman called ‘Amy’ who was apparently ‘Aminah’s’ cousin in Mongolia.

34. On the night of Oct 20, 2006, both of Aminah’s girlfriends turned up at Abdul Razak Baginda’s house enquiring where Aminah was. I informed them she had been arrested the night before.

35. A couple of nights later, these two Mongolian girls, Mr Ang and another Mongolian girl called ‘Amy’ turned up at Abdul Razak Baginda’s house looking for Aminah as they appeared to be convinced she was being held in the house.

36. A commotion began so I called the police who arrived shortly thereafter in a patrol car. Another patrol car arrived a short while later in which was the investigating officer from the Dang Wangi police station who was in charge of the missing persons report lodged by one of the Mongolians girls, I believe was Amy.

37. I called Abdul Razak Baginda who was at home to inform him of the events taking place at his front gate. He then called DSP Musa Safri and called me back informing me that Musa Safri would be calling handphone and I was to pass the phone to the inspector from Dang Wangi police station.

38. I then received a call on my handphone from Musa Safri and duly handed the phone to the Dang Wangi inspector. The conversation lasted 3-4 minutes after which he told the girls to disperse and to go to see him the next day.

39. On or about Oct 24, 2006, Abdul Razak Baginda instructed me to accompany him to the Brickfields police station as he had been advised to lodge a police report about the harassment he was receiving from these Mongolian girls.

40. Before this, Amy had sent me an SMS informing me she was going to Thailand to lodge a report with the Mongolian consulate there regarding Aminah’s disappearance. Apparently she had sent the same SMS to Abdul Razak Baginda. This is why he told me he had been advised to lodge a police report.

41. Abdul Razak Baginda informed me that DPS Musa Safri had introduced him to one DSP Idris, the head of the criminal division, Brickfields police station, and that Idris had referred him to ASP Tonny.

42. When Abdul Razak Baginda had lodged his police report at Brickfields police station, in front of ASP Tonny, he was asked to make a statement but he refused as he said he was leaving for overseas. He did however promise to prepare a statement and hand ASP Tonny a thumbdrive. I know that this was not done as ASP Tonny told me.

43. However ASP Tonny asked me the next day to provide my statement instead and so I did.

44. I stopped working for Abdul Razak Baginda on Oct 26, 2006 as this was the day he left for Hong Kong on his own.

45. In mid-November 2006, I received a phone call from ASP Tonny from the IPK Jalan Hang Tuah asking me to see him regarding Aminah’s case. When I arrived there I was immediately arrested under Section 506 of the Penal Code for criminal intimidation.

46. I was then placed in the lock up and remanded for five days. On the third day, I was released on police bail.

47. At the end of November 2006, the D9 department of the IPK sent a detective to my house to escort me to the IPK Jalan Hang Tuah. When I arrived, I was told I was being arrested under Section 302 of the Penal Code for murder. I was put in the lock up and remanded for seven days.

48. I was transported to Bukit Aman where I was interrogated and questioned about an SMS I had received from Abdul Razak Baginda on Oct 19, 2006 which read “delay her until my man arrives”. They had apparently retrieved this message from Abdul Razak Baginda’s handphone.

49. They then proceeded to record my statement from 8.30 am to 6pm everyday for seven consecutive days. I told them all I knew including everything Abdul Razak Baginda and Aminah had told me about their relationships with Najib Razak but when I came to sign my statement, these details had been left out.

50. I have given evidence in the trial of Azilah, Sirul and Abdul Razak Baginda at the Shah Alam High Court. The prosecutor did not ask me any questions in respect of Aminah’s relationship with Najib Razak or of the phone call I received from DSP Musa Safri, whom I believe was the ADC for Najib Razak and/or his wife.

51. On the day Abdul Razak Baginda was arrested, I was with him at his lawyers office at 6.30am. Abdul Razak Baginda informed us that he had sent Najib Razak an SMS the evening before as he refused to believe he was to be arrested, but had not received a response.

52. Shortly thereafter, at about 7.30am, Abdul Razak Baginda received an SMS from Najib Razak and showed, this message to both myself and his lawyer. This message read as follows: “ I am seeing IGP at 11am today … matter will be solved … be cool”.

53. I have been made to understand that Abdul Razak Baginda was arrested the same morning at his office in the Bangunan Getah Asli, Jalan Ampang.

54. The purpose of this Statutory declaration is to:

1) State my disappointment at the standard of investigations conducted by the authorities into the circumstances surrounding the murder of Altantuya Shaaribuu.

2) Bring to the notice of the relevant authorities the strong possibility that there are individuals other than the three accused who must have played a role in the murder of Altantuya Shaaribuu.

3) Persuade the relevant authorities to reopen their investigations into this case immediately so that any fresh evidence may be presented to the court prior to submissions at the end of the prosecutions case.

4) Emphasise the fact that having been a member of the Royal Malaysian Police Force for 17 years, I am absolutely certain no police officer would shoot someone in the head and blow up their body without receiving specific instructions from their superiors first.

5) Express my concern that should the defence not be called in the said murder trial, the accused, Azilah and Sirul will not have to swear on oath and testify as to the instructions they received and from whom they were given.

55. And I make this solemn declaration conscientiously believing the same be true and by virtue of the provisions of the Statutory Declaration Act 1960.

Balasubramaniam a/l Perumal

July 1, 2008

what? army to be involve in this sunday's citizen peaceful march?

This is way out for our police chief to suggest army to be rope in to maintain law and order for this Sunday's citizen peaceful march. He must be getting crazier as days goes by.

First, we need to study the function of the army. As far as i am concern, the roles of the army is to protect the citizen and defend the country from invasion. And the roles of the police force is to protect the citizen and maintain law and order from those who broke the law.

And what we are going to have this Sunday is a peaceful citizens march in protest to abuse of power, judiciary problems, corruption and inflation. Isn't it obvious who are the criminals here?

So read here carefully Mr Whimhead Musa Hassan, you are definitely stepping out of your line. Go spend your time investigate on corruption cases and those criminal reports filed with your agencies. That's your duty and that's exactly what the taxpayer expect you to do. You are biting on those hands that feeds you.

Get Your Priorities Right or You Get The F**k Out of Here!!

breaking news: trading halt in bursa continues..

Since this morning we were advised that trading in Bursa will be temporarily halted for the morning session due to technical glitches in the exchange. And since then we were told that trading will resume for the afternoon session. Now it is 3:24pm and trading is still nowhere to be seen. Can those asshole from the exchange make some statement as to what is happening over there? You expect all of us to wait here aimlessly and unproductively through no fault of our own while you motherf**kers try to think of what excuses to come out with to save your faceless face.

We knew of the new system which turned obselete way before the implementation due to the long lapse from when that idea was first mooted. Yet all of you decided to spend a further RM 70-90M to upgrade that obselete system and forced all your dealers to come back weeks after weeks to test-run the system.

To the man at helm, you think you have done a good job? You were planted there to reap from the listing of the exchange especially for a person who knows nothing about the function of the exchange. How many shares you reward yourself for one year of service with the exchange as compare to all those brokers and dealers who had been in the industry for ages and have been the backbone of this industry even before you were born?

Shame on you!!

Latest Update 6:59PM July 03. 2008

Just got an update that today's trading halt has something to do with the latest development in the Altantuya's case. Ironic, isn't it? Even the exchange is not spared from political interference. Hell's gonna break loose when trading resumes tomorrow.

please tell me this is all a joke... unbelievable!!

1. Warning says:July 1 2008 at 4:12pm

Semua pihak diharap dapat memberi ruang kepada PDRM untuk menyiasat dakwaan ini secara terperinci dan profesional. PDRM akan sentiasa memastikan kesemua pihak terlibat iaitu di pihak pengadu dan orang yang didakwa mendapat keadilan sewajarnya. Tindakan tidak bertanggungjawab pihak-pihak tertentu yang cuba mengaitkan isu ini dengan konspirasi pihak-pihak berkepentingan hanya akan mengundang huru-hara yang akan menjurus kepada ketidaktenteraman umum.

PDRM juga begitu mengambil berat mengenai dakwaan ugutan bunuh terhadap Datuk Seri Anwar Ibrahim walaupun tiada sebarang laporan polis dibuat sebelum ini. Siasatan menyeluruh sukar dijalankan tanpa laporan polis khususnya bagi mengesan dan mengenalpasti pihak yang bertanggungjawab. PDRM juga menasihatkan orang ramai supaya tidak mengambil tindakan yang menyalahi undang-undang khususnya cubaan untuk menganjurkan sebarang aktiviti seperti demonstrasi dan ceramah-ceramah umum tanpa kebenaran. PDRM memberi jaminan bahawa laporan oleh Encik Mohd Saiful Bukhari Bin Azlan akan diambil tindakan mengikut lunas undang-undang bagi mendapatkan keadilan yang saksama.

PDRM

BUKIT AMAN

2. Warning Says: July 1, 2008 at 4:17pm

DAKWAAN LIWAT TERHADAP DATUK SERI ANWAR IBRAHIM Polis Di Raja Malaysia (PDRM) sekali lagi ingin mengingatkan para bloggers serta laman-laman web tempatan supaya tidak menyebarkan khabar angin mahupun kenyataan berhubung isu dakwaan liwat ke atas Datuk Seri Anwar Ibrahim. Cubaan mengaitkan kes tersebut dengan kes yang berlaku pada tahun 1998 serta tuduhan konspirasi pihak-pihak tertentu hanya menganggu siasatan pihak Polis. Khabar angin yang tidak mempunyai asas sebegini akan mempengaruhi orang ramai termasuk pihak-pihak berkepentingan di luar negara untuk memberi tekanan kepada pihak kerajaan serta sistem perundangan kita. Sentimen negatif yang cuba dibangkitkan akan mendorong kepada suasana tegang dikalangan rakyat. Justeru, tindakan menyebarkan khabar angin ini mestilah dihentikan dan pihak Polis dibiarkan untuk menjalankan siasatan sepertimana dijanjikan.

PDRM

BUKIT AMAN

Two sets of warning purportedly issued by our police on bloggers which was subsequently denied by our police force today. This warnings was issued in relation to Anwar's sodomy allegation by his former aide.

It was issued to warn bloggers not to publish baseless speculations on the allegation which could thwart their investigation and also damage our country's image to the rest of the world.

With the type of administration we have and the gangterism of our police force, what image are they trying to preserve? From where the rakyat stand, they have put us to shame big time on the world map and further image damaging actions wont make us any worse. Only the like of thick-skinned Syed Hamid, Nazri and Bung Mokhtar can remain proud and continue to spew lies after lies from their shit-holes.

They deny involvement in posting these warnings on bloggers. Why is it that they dont investigate further and bring the person to task for posting malicious warning which obviously have damage the image of the police force?

This is way beyond my intellectual mind...

some insight on what is going on in the world's economic situation...

ECB Is Martian, Fed Venusian, Says Deutsche Bank: Chart of Day
By Mark Gilbert

July 1 (Bloomberg) -- The European Central Bank and the Federal Reserve are reacting differently to the threat of faster inflation, with policy makers in Europe likely to backtrack after raising interest rates, according to Deutsche Bank AG economists.

``Recent and prospective differences between the Fed and the ECB in the conduct of monetary policy have been striking,'' the analysts, led by chief U.S. economist Peter Hooper, wrote in a report published yesterday. ``The ECB has launched a Martian frontal assault on inflation while the Fed has opted for a more cautious and patient Venusian approach.''

The chart of the day shows the recent jump in expectations for how much inflation will accelerate and how high interest rates will rise. The top chart shows breakeven rates in the U.S. and Italy, measuring the yield gap between ordinary government debt and inflation-protected securities. The bottom chart shows the three-month futures contracts for December settlement.

``The historical experience of deflation and depression in the U.S., and of German hyperinflation and currency reform in Europe, plays a key role in shaping different responses,'' the economists wrote. ``We expect the present trans-Atlantic monetary policy divergence to diminish when weaker economic growth eventually reduces inflation fears at the ECB. The ECB will lower rates in the course of 2009, while the Fed will probably keep rates on hold.''

The ECB will raise its key rate by a quarter-point to 4.25 percent when it meets this week, according to 57 of 58 economists surveyed by Bloomberg News. There's a 75 percent chance that the Fed will keep its benchmark rate at 2 percent when it next sets policy on Aug. 5, according to prices in the futures market.

Here is an insight of the 1929 Great Depression:

The Great Depression was a dramatic, worldwide economic downturn beginning in some countries as early as 1928.The beginning of the Great Depression in the United States is associated with the stock market crash on October 29, 1929, known as Black Tuesday and the end is associated with the onset of the war economy of World War II, beginning around 1939.

The depression had devastating effects in both the industrialized countries and those which exported raw materials. International trade declined sharply, as did personal incomes, tax revenues, prices, and profits. Cities all around the world were hit hard, especially those dependent on heavy industry. Construction was virtually halted in many countries. Farming and rural areas suffered as crop prices fell by 40 to 60 percent. Facing plummeting demand with few alternate sources of jobs, areas dependent on primary sector industries such as farming, mining and logging suffered the most. At the time, Herbert Hoover was President of the United States.Even shortly after the Wall Street Crash of 1929, optimism persisted. John D. Rockefeller said that "These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again.

The Great Depression ended at different times in different countries; for subsequent history see Home front during World War II. The majority of countries set up relief programs, and most underwent some sort of political upheaval, pushing them to the left or right. In some states, the desperate citizens turned toward nationalist demagogues - the most infamous being Adolf Hitler - setting the stage for World War II in 1939.

Causes

Recession cycles are thought to be a normal part of living in a world of inexact balances between supply and demand. What turns a usually mild and short recession or "ordinary" business cycle into a great depression is a subject of debate and concern. Scholars have not agreed on the exact causes and their relative importance. The search for causes is closely connected to the question of how to avoid a future depression, and so the political and policy viewpoints of scholars are mixed into the analysis of historic events eight decades ago. The even larger question is whether it was largely a failure on the part of free markets or largely a failure on the part of governments to not exacerbate widespread bank failures and the resulting panics and reduction in the money supply. Those who believe in a large role for governments in the economy believe it was mostly a failure of the free markets and those who believe in free markets believe it was mostly a failure of government that expounded the problem.

Current theories may be broadly classified into three main points of view. First, there is orthodox classical economics: monetarist, Austrian Economics and neoclassical economic theory, all which focus on the macroeconomic effects of money supply and the supply of gold which backed many currencies before the Great Depression, including production and consumption.

Second, there are structural theories, most importantly Keynesian, but also including those of institutional economics, that point to underconsumption and overinvestment (economic bubble), malfeasance by bankers and industrialists or incompetence by government officials. Another theory revolves around the surplus of products and the fact that many Americans were not purchasing but saving. The only consensus viewpoint is that there was a large scale lack of confidence. Unfortunately, once panic and deflation set in, many people believed they could make more money by keeping clear of the markets as prices got lower and lower and a given amount of money bought ever more goods.

Third, there is the Marxist critique of political economy. This emphasizes contradictions within capital itself (which is viewed as a social relation involving the appropriation of surplus value) as giving rise to an inherently unbalanced dynamic of accumulation resulting in an over accumulation of capital, culminating in periodic crises of devaluation of capital. The origin of crisis is thus located firmly in the sphere of production, though economic crisis can be aggravated by problems of disproportionality between spheres of production and the under consumption of the masses.

There were multiple causes for the first downturn in 1929, including the structural weaknesses and specific events that turned it into a major depression and the way in which the downturn spread from country to country. In terms of the 1929 small downturn, historians emphasize structural factors like massive bank failures and the stock market crash, while economists point to Britain's decision to return to the Gold Standard at pre-World War I parities.

Debt and Effects

Debt is seen as one of the causes of the Great Depression.

Macroeconomists including Ben Bernanke, the current chairman of the U.S. Federal Reserve Bank, have revived the debt-deflation view of the Great Depression originated by Arthur Cecil Pigou and Irving Fisher: in the 1920s, American consumers and businesses relied on cheap credit, the former to purchase consumer goods such as automobiles and furniture and the latter for capital investment to increase production. This fueled strong short-term growth but created consumer and commercial debt. People and businesses who were deeply in debt when price deflation occurred or demand for their product decreased often risked default. Many drastically cut current spending to keep up time payments, thus lowering demand for new products. Businesses began to fail as construction work and factory orders plunged.

Massive layoffs occurred, resulting in unemployment rates of over 25%. (US) Banks which had financed this debt began to fail as debtors defaulted on debt and depositors became worried about their deposits and began massive withdrawals. Government guarantees and Federal Reserve banking regulations to prevent these types of panics were ineffective or not used. Bank failures led to the loss of billions of dollars in assets.

The debt became heavier, because prices and incomes fell 20–50% but the debts remained at the same dollar amount. After the panic of 1929, and during the first 10 months of 1930, 744 US banks failed. (In all, 9,000 banks failed during the 1930s). By 1933, depositors had lost $140 billion in deposits.

Bank failures snowballed as desperate bankers called in loans which the borrowers did not have time or money to repay. With future profits looking poor, capital investment and construction slowed or completely ceased. In the face of bad loans and worsening future prospects, the surviving banks became even more conservative in their lending. Banks built up their capital reserves and made fewer loans, which intensified deflationary pressures.

A vicious cycle developed and the downward spiral accelerated. This kind of self-aggravating process may have turned a 1930 recession into a 1933 great depression.

Comparing to the present day situation

All the available signs basically tells us that our world economic situation is heading towards the Mother of All Depression. Only this time around, it is cause by the collapse in sub-prime mortgages loan. When sub-prime collapsed, there was this big shift of funds that poured into commodities market where record prices continue to be set beyond the fundamental of the demand and supply theory, more devastatingly so, when the world economic climate had begin to slowdown drastically over the past 6 months.

Unlike 1929, where Asia was spared from the devastating effect of The Great Depression, this Mother of Depression is going hit every living soul in this planet like several nuclear bombs being set off at different part of the world at the same time.

The impact on countries may varies depending on the prudence of each country's leadership in handling this coming crisis in terms of their foresightedness and their know-hows on the world economy.

From where i stand, our country is doom for sure with this bunch of corrupted idiots for leadership. And they are still barking over their loss of absolute power and busy trying to hold on to power by denial and fabricating lies and more lies.

My advice is for us to adjust ourselves fast and brace ourselves for this coming devastating Mother of All Depression. Stick to basics and get rid of all excesses.

Good luck and God bless us all..

another questionable over-priced project with lopsided pact...

June 19, 2008

S'pore cars using Causeway may have to help fund new JB road Contract says toll will be levied on vehicles entering Malaysia to pay for new link to North-South highway

By Leslie Lopez, South-east Asia Correspondent

KUALA LUMPUR - THE Malaysian government has awarded a RM1.2 billion (S$500 million) contract for a road on the fringes of Johor Baru to a conglomerate linked to the ruling Umno party, a project analysts say will surely attract close scrutiny because it will be funded by sharply taxing vehicles using the Causeway linking Malaysia and Singapore.

Documents reviewed by The Straits Times show that publicly listed MRCB secured the government project in June last year to build an 8km partially elevated expressway linking the Customs, Immigration and Quarantine Complex (CIQ) at the Causeway with the southernmost end of the North-South Expressway.

The contract, which its promoters say will alleviate congestion in Johor Baru city, also features a potentially controversial 34-year toll concession for MRCB, a diversified investment holding company that has interests in property development, infrastructure and engineering services. Under the contract awarded, tolls would not be levied for users of the proposed dual three-lane carriageway, but rather on all vehicles crossing into Malaysia from the Causeway.

A senior MRCB executive who confirmed the project awarded by the government told The Straits Times that toll collection will begin once the expressway is completed sometime in late 2011.

Based on information contained in an advisory to potential investors for the project, the toll charges will range from RM6.20 for passenger vehicles entering Malaysia to RM12.40 for lorries. The rates will be raised every three years, and will peak at RM14.60 for passenger vehicles and RM29.20 for lorries, the documents showed.

Currently, vehicles using the Causeway pay a nominal fee. Passenger vehicles entering Malaysia are charged a toll of RM2.90, and lorries, RM5.50. The Singapore Government imposes a charge of S$1.20 for passenger vehicles and S$2.60 for lorries. The proposal to impose new toll charges in Johor will hit Singaporeans the most.

The document on the bond issue prepared by MRCB bankers stated that the Causeway currently serves '69 million person trips annually, which is significant compared to the 20 million passengers at the Kuala Lumpur International Airport'. The document issued by CIMB Investment Bank and HSBC Malaysia also stated that about 75 per cent of the passenger cars crossing the Causeway are Singapore-registered vehicles.

It is not clear whether Malaysia's plan to impose toll charges on the Causeway would provoke a similar reaction from Singapore. But in February, Singapore raised rates at the Second Link, which a Land Transport Authority spokesman said were 'pegged to those set by Malaysia'.

The Causeway and the Second Link, which connects Tuas and Johor's Gelang Patah, are the two land links between Malaysia and Singapore. The 1,056m Causeway is the preferred route because it takes vehicles directly into Johor Baru, and the toll charges there are lower compared with those at the Second Link. The heavy traffic is a major cause of congestion in Johor Baru.

But the huge cost of the new elevated expressway to alleviate the situation is raising eyebrows. At a price tag of RM1.2 billion, it will cost roughly RM150 million per kilometre to build, according to bankers and analysts.

ljlopez@sph.com.sg

And here is the comment by a fellow blogger

Ok, you have read the article. What do you see between the lines?

You may think, 'Well, good---now the Singaporeans are going to help pay for our roads and they should'.

No, no, no---what do you see beyond that? What does the article tell you of what is really happening here (the modus operandi)? I will tell you... It is a scheme on how to become a billionaire.

This is how they work (and for years they have being doing it and we have suffered because of it)......

1) Identify a project, a big project---the bigger the better.

(Penangites, watch out!! Look at your second bridge!!!)

2) Give the project to a crony or cronies, or an UMNO linked company. (we have plenty of examples: Plus highway, Indah Water, Syabas, MAS, submarines, National Service camp, etc. etc.)

(Penangites, watch out again!! Who are the contractors for your second bridge!!!?)

3) Jack up the price. (How many times? 100% 200% 300% -- no problem. It is not their money. Quote: 'At a price tag of RM1.2 billion, it will cost roughly RM150 million per kilometre to build'.)

(Penangites, watch out again!! Look at your second bridge!!! The cost of the Bridge has ballooned from RM2.7bil to RM4.5bil within a year---a 60% increase in less than a year.)

4) Sign a sure win contract (in this case, 34 years toll concession, with toll increase every 3 years---if it fails, don't worry, they will bail you out. eg: MAS, LRT, MISC, etc.) (Penangites, watch out!!! Soon you are going to pay and pay through your noses!!! Do you know the terms of the contract for the 2nd bridge? How much toll you have to pay and for how long?)

5) As long as there is money to be made, why care if the rakyats suffer. (Sound familiar isn't it? The rakyats have been suffering under increasing tolls all over the places, haven't we? Do they care? No, it is under the terms of their SURE WIN contract. The cronies win, UMNO wins, that is good for the govt. Rakyats suffer and sure lose is none of their business. You want to use the bridge or road or water or telephone or electricity or Astro, you pay---the more you pay the better for them. You don't want to use?---also cannot, no alternative. So mati lah, no choice but to empty your pockets.

This is daylight robbery? ... no, no, no, this is services to the rakyats. You cry to your MPs, the MPs say, 'Ya, ya, yah' but close one eye---Ini lah satu project BN lagi.) Aiyoh yo, they become billionaires and the rakyats suffer to pay like shit. You ask, 'Mana boleh?' Why tak boleh? Ini Malaysia lah, semua pun boleh. Semua orang pun tahu---BN boleh!

By the way, did you vote BN on 8th March? If you do, please don't complain, OK? Shut up and just pay and pay, sampai you mati. While they go for posh holidays overseas, you and your family starve. Told you, vote BN and the petrol is going up! Now, about the destruction of a functioning economy.

If the Singaporeans are forced to pay heavy tolls, and their govt also impose a toll on Malaysians crossing over to Singapore, that is DOUBLE TOLL BURDEN for all. You, JB folks, know very well that JB's businesses depend very much upon the Singaporeans to survive. The double tolls will definitely stop them from coming over. So how are your businesses going to survive? How many of you are going to close shop? How many thousands of jobs are going to be lost? As for those staying in JB but have to commute daily to work in Singapore? Go figure out how much you have to pay! Say goodbye to a huge portion of your pay.

Read again: '...the toll charges will range from RM6.20 for passenger vehicles entering Malaysia to RM12.40 for lorries. The rates will be raised every three years, and will peak at RM14.60 for passenger vehicles and RM29.20 for lorries, the documents showed.' That is a sure way to kill many businesses in JB for all your Singaporean patrons will simply stop coming. JB folks, what are your MPs doing for you? Nothing! It took the Singapore Straits Times to expose the folly of such contracts and the modus operandi---our MSM of course, as usual, are keeping quiet (Ini lah satu project BN lagi. Tak boleh lapor, nanti kena). JB folks, you don't even know the contract to fleece you have been signed. Once the roads are built, you can complain all you want, but then it is too late! You can kiss your money goodbye.

Penangites, watch your second bridge's contract and contractors carefully. Be mindful of them. Price already jack up to the moon. I suppose you are going to pay skyhigh toll.

Good luck Malaysia. Good Johoreans. Good Penangites. You need the luck.

By the way, when is Anwar going to be PM? When are we going to stop this Billionaire way of doing business? Over to you, Pakatan. And congratulation to all who voted for Pakatan during the last election. God bless you.

If you want to know more about how to become a billionaire, watch this very funny video at Comedy Court: How to Become a Billionaire.

http://www.comedycourt.com.my/watchvideo_13.html

And today The Sun reported that our second Finance Minister Tan Sri Nor Mohamed Yakcop explaining why Penang State government need not be consulted on the withdrawal of the monorail and PORR projects from the Ninth Malaysia Plan as it was a federal government project. Arrogant bastard! Typical of BN's dogs attitude cultivated from the cry of ketuanan melayu. Hoi bodoh!! Ini kah ketuanan melayu? Biadap!! Kurang ajar!!

The reason given for the withdrawal of these projects was that the government could use the RM3.5b to help the people. Huh? Excuse mua... help the people? Its more like you all try to kill two bird with one stone. First, you penalised the Pakatan Rakyat ruling government and then use the RM3.5b funds to finance the southern corridor project like the above mentioned project. It is obvious these projects need to move on for all your Corrupted monies to reach your pocket as they have all been marked into the total cost of those projects. Imagine RM150m for a kilometre. How much of this monies goes into all your pocket? On top of that a 34 years concession. Maybe throw in a clause which guarantee a certain amount of profit. If not meet, then the taxpayer will have to pay subsidy to them. Then turn it around and tell the rakyat that the government have to subsidize the company in order for them not to increase the toll. To hell with all you motherfucking bastards!!

First, you corrupt from the start of the project and then you have a yearly consistent flow of money coming from these toll concessionaires. All at the expense of the rakyat. Ya right, may all your ill-gotten monies buy your way straight into the Fury of HELL. Fuck You All Motherfucking SOBs!!