Thursday, June 3, 2010

Idris Jala Is Turning Into A Politician

…and now says his comments on bankruptcy were “taken out of context”. Where have we heard that before? Not to knock what he’s done – I doubt anybody from any of the mainstream political parties would have taken the bull by the horns as he has, or achieved so much, so fast, with so little.

But when you’re speaking to a national audience, there will always be someone with the knowledge and credibility to poke holes in any argument, especially an indicator that is as closely followed as government borrowing.

Case in point, this article in the Malaysian Reserve (H/T Jebat Must Die). Although I have to disagree with the article writer Senator Datuk Akbar Ali on one crucial point – US fiscal deficits have actually been fairly mild over the last decade (not including the mother of all stimulus packages pushed through last year). My vote for worst managed economy in the world still goes to Zimbabwe (with Iceland coming a distant second).

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