Listen! Listen! Listen! Malaysia’s a dead duck, dead meat …
Malaysians who still think their country can continue to progress with 1Malaysia Development Berhad (1MDB) Prime Minister Najib Razak’s Umno-led Barisan Nasional (BN) federal government, don’t moan or complain when the full brunt of a grossly weakened financial economy strikes hard.
You won’t have anywhere to hide or anywhere to go when all economic factors start toppling like domino.
Don’t just believe what we at No News Is Bad News are saying. Read what former deputy prime minister, an experienced executive, Muhyiddin Yassin has to say:
"MALAYSIA NOW EASY MEAT FOR CURRENCY SPECULATORS – MUHYIDDIN FLAYS NAJIB’S RECKLESS DEBT ACCUMULATION
Politics | October 26, 2016 by | 0 Comments
KUALA LUMPUR — The growing national and household debt in the country means it might be vulnerable in case of a currency speculation attack, former Deputy Prime Minister Tan Sri Muhyiddin Yassin said today.
“I am worried that with the state of the government debt and the high household debt, along with foreign reserves dropping… we would not withstand a currency speculation attack,” Muhyiddin told Dewan Rakyat while debating the 2017 federal Budget today.
“I say this as a mere warning,” he added.
Malaysian’s national debt is now at 53.5 per cent of the Gross Domestic Product (GDP), which is still below the self-imposed ceiling of 55 per cent.
Muhyiddin also said that the country was able to recover from the 1997 currency speculation attack due to strong foreign reserves and high commodity prices.
“The government then had enough financial resources to carry out initiatives to spur the economy and recover from the crisis,” he added.
MALAY MAIL/Malaysia Chronicle"
"MALAYSIA NOW EASY MEAT FOR CURRENCY SPECULATORS – MUHYIDDIN FLAYS NAJIB’S RECKLESS DEBT ACCUMULATION
Politics | October 26, 2016 by | 0 Comments
KUALA LUMPUR — The growing national and household debt in the country means it might be vulnerable in case of a currency speculation attack, former Deputy Prime Minister Tan Sri Muhyiddin Yassin said today.
“I am worried that with the state of the government debt and the high household debt, along with foreign reserves dropping… we would not withstand a currency speculation attack,” Muhyiddin told Dewan Rakyat while debating the 2017 federal Budget today.
“I say this as a mere warning,” he added.
Malaysian’s national debt is now at 53.5 per cent of the Gross Domestic Product (GDP), which is still below the self-imposed ceiling of 55 per cent.
Muhyiddin also said that the country was able to recover from the 1997 currency speculation attack due to strong foreign reserves and high commodity prices.
“The government then had enough financial resources to carry out initiatives to spur the economy and recover from the crisis,” he added.
MALAY MAIL/Malaysia Chronicle"
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