National Debt RM600 billion !! Malay economy just grinding to a halt.

Ok this is the update to that Chicken Little post.  The gomen sector is indeed grinding down to a halt. The Malay economy is dying as well.  Yesterday I attended another meeting with Tun Dr Mahathir. 

Dr Mahathir said that national debt has exceeded RM600 billion.  

Then I got home and saw the following in the email (thank you). Its a national debt clock that shows the Malaysian national debt exceeding RM600 billion.


Please click on the link. http://www.nationaldebtclocks.org/debtclock/malaysia

Here is a screenshot

Please note that the national debt is 58% of the country's GDP. What does this mean?  Say you are earning RM5000. Half of that goes towards paying debt. You only have half your salary left over to pay for the other bills.  What if your monthly income is RM2000? 

Some people do not believe the economy (especially the Malay economy) is in deep shit. Here is more new. This is from yesterday 24th Aug, 2016 : 

Tesco is cutting 600 jobs in Malaysia. These are mostly low level jobs ok, plenty of Malays employed by Tesco.

And here is news about Utusan Meloya not being able to pay their salaries to their staff in July 2016.

The Utusan management staff received their salaries first. There was not enough money to pay 300 other junior ranks their salaries for July. (They were finally paid in August).  Utusan Meloya has cash flow problems. Info from a former Group Managing Editor of Utusan says that Bugis is pumping RM5 million direct cash injection into Utusan every month. Otherwise Utusan will bungkus.  Err these are mostly Malay staff ok.

Petronas has also laid off over 1000 staff since April - once again these are mostly Malays and Sarawakians.  So no "high income economy" left in Petronas.

 
Then Suzuki Bikes has shut down its motorbike assembly plant in Prai that has been operating since 1971 :

It did not say how many staff will lose their jobs but you can rest assured it is mostly Malays and it will be a few hundred people.

SilverBird (Hi5) bread business also closed down just before Hari Raya. 60 staff (majority Malays) were given 24 hour notices :

Hello morons, each time a factory closes down or a thousand people lose their jobs then you multiply their monthly  salaries x 1000 and that is how much consumer buying power has disappeared from the economy. 6% of that (GST) has also disappeared.  The gomen has lost corporate taxes and GST revenue from all those factroies and businesses that shut down.  


The way things are going what if the gomen cannot pay salaries to its Civil Servants? Dont think it is impossible.  The morons have already messed things up.  

The gomen economy and the related Malay economy is grinding down.

 

In the midst of all this, did you know that the morons have quietly removed duty free status from Langkawi and Labuan.  Tun Dr Mahathir first said this in his blog. I also checked with a friend in Langkawi.  I think this has been done to punish Tun Dr Mahathir, Mukhriz (Kedah) and Shafie Apdal (Sabah). 

 

This will kill off Langkawi, especially the Malay economy on that island.  My friend says that for now cars above 2000 cc are no more tax exempt in Langkawi. The "duty free shopping" is limited to some shops only.  Not to the entire island of Langkawi. 
Tourists (especially local tourists) go to Langkawi for the duty free shopping. Once you remove that, then why go to Langkawi? But isnt that largely a Malay economy as well? Ekonomi Melayu yang mati dulu. 

Never before in the history of this country has there been such a huge concentration of incompetents, idiots, morons, fools, thieves and cheats running its affairs.