Datuk Seri Najib Tun Razak warned Malaysians to be wary of “dream merchants” who could turn the country into another failed state depending on foreign handouts to survive.

The Prime Minister said the Government does not want to see the country, some day, having to hang on to the goodwill of international financial institutions, similar to the fate that had befallen some nations forced to seek handouts.

EDITORS NOTE

Let's stop blaming. The blame games are uncertain, botch-ups still more, and the ones involved, a much greater part of the populace, that soon one realizes the old phrase that with one finger pointing outwards, three point towards you.

Devilish advocacy is.

The term "Devil's Advocate" comes from a practice of the church, where, whenever someone was to be "canonized" or "beatified", there would be a canon lawyer, who would argue every act claimed to be a "miracle" or "godly". This was to ensure that there were not too many saints to accommodate in the scriptures, spreading confusion further. For instance, if "Berlusconi" was to be upgraded, Col Gaddafi would be his advocate. Pardon my trespasses, but His Holiness the highest pontiff may be "canonized" if he still has it in him to pardon both.Crime is no longer a sin or a deterrence for peace of the soul.

The problem is: We have voted into power the stupidest bunch of thieves. They are such losers that they can’t steal a hamburger without leaving ketchup stains all over. Yet they are constantly trying to pull off the biggest scams in history.Call it circumstances, call it an inability to discern. The line between routine and regular, legal and illegal, crime and indecent behaviour is missing at many places. Like an unmanned railway crossing, or a street crossing without lights or a traffic constable. You got to settle it on your own. There is no argument whether he was on the wrong side. By that time you may be pulled out of the car, and in a suburban area, may be punched. Police inaction is the prescription for a peaceful society. There is no one who would stand as witness, and if he does, just wait till he turns hostile.Japan's tragic tsunami teaches us one great lesson. Almost all the buildings withstood magnitude 9. The loss was mainly due to fire and floods and not due to crashing skyscrapers. The nuclear part could not be foreseen, and is a matter to be addressed for future safety that concerns all nations. The little tsunami we had here was regarding the government's pro-nuclear stand. The opposition couldn't say much, because WikiLeaks has a similar recording for both sides. Great job WikiLeaks! Now there is a debate whether the source of the leak is authentic or not. I thought that was always the case, if you knew what exactly is the line of truth!

this Government. It’s neck deep in its own sticky sleaze. What’s worse, you haven’t seen anything yet. All these scams are but the tip of the iceberg. Talk to anyone and you will get an instant dhobi list of scams in queue to break. No, I am not saying this.UMNO leaders are, in private. Look at Najib, wan and waylost Muhyiddin Yassin going apopleptic in faux anger because he has to defend what he knows is indefensible. They look less convincing than IBRAHIM KATAK playing Joan of Arc. Our leaders are making deals on the sly with greedy builders, land sharks, illegal mining companies, corporate fixers, shady arms dealers and, O yes,

ROSMA who want to manipulate our political choices. And, what’s more amazing, they do it like bungling idiots. Even Inspector Clouseau can outwit them.But that doesn’t mean they are not malevolent. These are people who are destroying Malaysia from within.

They are not just robbing you, me, and the exchequer. They are destroying institutions, subverting laws, vandalising our heritage and history, and trying to build a dazzling, a moral edifice of crime and corruption unprecedented in the nation’s history. It’s a scary scenario that could turn the land of the Mahatma into one gigantic Gotham City with a flyover to hell.But my question is more basic: Can we trust these idiots to run this great nation?

Najib has no balls to demand Sarawak Chief Minister Tan Sri Abdul Taib Mahmud 'exit “You can’t try to force him as he knows how to turn the tables on you, as he had done in the past. Some political hopefuls tried to force him out but in the end, they ended up in political oblivion.”with his 29 Member of Parliament najib will have face altuntuya ghost Weakness is contagious. It tends to debilitate even those limbs of the body politic that are functioning normally barian minister have always known that they owe their jobs to party president. not to their voters , but they showed the requisite deference to the PM during his visit would be an asset on judgment day when the voter headed for the ballot box. This enormous strength has withered because no one expects najib to win in the next general elections.NAJIB admitted privatelyInstead, Power is never stagnant. It either consolidates around the leader, or ebbs. Those with longer plans for the future than the Prime Minister are establishing individual markers at the cost of collective cohesion readmorehttp://malaysiakita786.blogspot.com/2011/03/sarawak-chief-minister-tan-sri-abdul.html

“We will not let Malaysia transform from a modern middle-high income industrial nation into a failed state due to fiscal irresponsibility and mismanagement.

“A responsible (political) party would rather remain unpopular in the short term than drive the country bankrupt in the long run,” he said when addressing civil servants here Tuesday.

“It is normal for some people to be mesmerised by cunning dream merchants who utter sweet nothings to fool them through promises in documents of various forms, like sea blue, dark green, white and now orange,” said Najib.

However, he warned, that Malaysia might suffer the fate of other failed states if the reforms proposed by certain political parties were allowed to take place.

In an obvious reference to the political agenda outlined in the Buku Jingga (Orange Book) of the Pakatan Rakyat parties, Najib said the “dream merchants” have, at times, managed to dupe people into believing “there’s gold at the end of the rainbow.”

The prime minister, who is Barisan Nasional chief, said that when it came to promises, the ruling coalition was able to deliver them through various initiatives and capabilities within its means.

“In fact, even before we make the promises, we ensure that whatever is said is realistic,” adding that the Government would be responsible and take into account every aspect of the people’s well-being and long term interests.

He said it was irresponsible for any party to introduce initiatives that were only populist in nature, without explaining to the people the actual cost of the plans and methods of financing the initiatives.

“Simply saying these plans will be funded by plugging leakages in government spending does not present a transparent explanation.

RELATED ARTICLE NAJIB: I Cheat, Therefore I Am (a Patriot) A Dramatic Story Three Little Pigs Retelling relatedarticle Ummi Hafilda lost her locus standi when the prosecution never called her to testify in court to rebut the prostitute allegation RELATED ARTICLE Najib said truth and justice could be achieved if doubts were removed.You take Najib out of … Read more THE GRAND SAINT OF IMMORAL AUTHORITY NAJIB LOST THE ‘MORAL AUTHORITY AND LEGITIMACY’ TO LEAD THE GOVERNMENT

The global economic crisis taught us to question our most cherished beliefs about the way we conduct macroeconomic policy. Earlier I had put forward some ideas to help guide conversations as we reexamine these beliefs. I was heartened by the wide online debate and the excellent discussions at a conference on post-crisis macroeconomic policy here in Washington last week. At the end of the conference, I organized my concluding thoughts around nine points. Let me go through them and see whether you agree or not.

1. We've entered a brave new world in the wake of the crisis; a very different world in terms of policy making and we just have to accept it.

2. In the age-old discussion of the relative roles of markets and the state, the pendulum has swung--at least a bit--toward the state.

3. The crisis made it clear that there are many distortions relevant for macroeconomics, many more than we thought earlier. We had ignored them, thinking they were the province of the micro-economist. As we integrate finance into macroeconomics, we're discovering distortions within finance are macro-relevant. Agency theory--about incentives and behavior of entities or "agents"--is needed to explain how financial institutions work or do not work and how decisions are taken. Regulation and agency theory applied to regulators is important. Behavioral economics and its cousin, behavioral finance, are central as well.

4. Macroeconomic policy has many targets and many instruments (that is, the tools we use or variables to implement policy). There are many examples of this that were discussed at the conference, but here are two.

Monetary policy has to go beyond inflation stability, adding output and financial stability to the list of targets, and adding macro-prudential measures to the list of instruments.
Fiscal policy is more than just "G minus T" and an associated "multiplier" (the proportion or factor by which changes in government spending or taxes affect other parts of the economy). There are potentially dozens of instruments, each with their own dynamic effects that depend on the state of the economy and other policies. Bob Solow made the point that reducing discussions about fiscal policy to what is the right multiplier does not do service to the issue.

5. We may have many policy instruments, but we are not sure how to use them. In many cases, we are uncertain about what they are, how they should be used, and whether or not they will work. Again, many examples came up during the conference.

We don't quite know what liquidity is, so a liquidity ratio is one more step into the unknown.
It was clear that some people believe capital controls work and some don't.
Paul Romer made the point that, if you adopt a set of financial regulations and keep them unchanged, the markets will find a way around, and ten years later, you'll have a financial crisis.
Mike Spence talked about the relative roles of self-regulation and regulation. Both are needed, but how we combine them is extremely unclear.

6. While these instruments are potentially useful, their use raises a number of political economy issues.

Some instruments are politically hard to use. Take cross border flows. Putting in place a multilateral regulatory structure will be very difficult. Even at the domestic level, some macro-prudential tools work by targeting specific sectors, sets of individuals, or firms, and may lead to strong political backlash by those groups.
Instruments can be misused. The more there are, the more the scope for misuse. It was clear from the discussion that a number of people think that, while there may be an economic case for capital controls, governments could use them instead of choosing the right macroeconomic policies. Dani Rodrik argued for using industrial policy to increase the production of tradables--goods or services that can be traded among countries--without getting a current account surplus. But in practice we know the limits of industrial policy, and they haven't gone away.

7. Where do we go from here? In terms of research, the future is exciting. There many topics on which we should work--namely macro issues with, as Joe Stiglitz said, the right micro foundations.

8. Things are harder on the policy front. Given we don't quite know how to use the new tools and they can be misused, how should policymakers proceed? While we have a good sense of where we want to get to, a step-by-step approach is the way to do it.

Take inflation targeting. We can't, from one day to the next, just give it up and have, say, a system with five targets and seven instruments. We don't know how to do it and it would be unwise. We can, however, introduce gradually some macro-prudential tools, testing the water to see how they work.
Increasing the role of Special Drawing Rights in the international monetary system is another example. If we go in that direction, we can move slowly from, say, creating a market in private SDR bonds to exploring the possibility for the IMF to issue SDR bonds to the private sector and then, if feasible, issuing them to mobilize funds in times of systemic crisis.

Pragmatism is of the essence. This was a general theme that came up, for example, inAndrew Sheng's discussion of the adaptive Chinese growth model. We have to try things carefully and see how they work.

9. We have to keep our hopes in check. There are going to be new crises that we have not anticipated. And, despite our best efforts, we could have old-type crises again. That was a theme in Adair Turner's discussion of credit cycles. Can we, using agency theory and the right regulations, get rid of credit cycles? Or is it basic human nature that, no matter what we do, they will come back in some form?

I was asked whether the conference was "Washington Consensus 2". It was not intended to be and it was not. The conference was the beginning of a conversation, the beginning of an exploration, and we look forward to your contributions.“It does not give a clear picture of the government’s need to increase revenue and avoid being dependent on natural resources,” he said, adding it was not the time for the people to try and experiment but to continue to hold on tight to what has been tested and proven.

Najib said this was why the Government implemented policy to rationalise subsidies even though, in principle, it believed that subsidies were vital for certain groups and sectors.

“We have to understand that Government resources are limited while the nature of demand is unlimited.