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our debt is 1 Trillion |
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our debt is 650 Billion, no no no, it's 1 Trillion, yes sir, it's definitely 1 Trillion as Tun said |
Former prime minister Najib Abdul Razak today suggested that Moody's Investor Service's estimate that Malaysia's debt-to-GDP ratio stood at 50.8 percent proves that the Pakatan Harapan administration had misled the public.
"The top international credit rating agency, Moody's, have independently assessed the Harapan government's claims of RM1 trillion debt and a self-declared debt-to-GDP ratio of 80.3 percent.
"Moody's have found those claims to be untrue, and have maintained our debt ratio to be the 50.8 percent declared by the BN government previously.
"You can mislead the people but you cannot mislead the experts," Najib wrote on Facebook today, shortly after Moody's latest report on Malaysia was posted.
The rating agency had maintained that "direct government debt" stood at 50.8 percent of GDP in 2017.
"Moody's have found those claims to be untrue, and have maintained our debt ratio to be the 50.8 percent declared by the BN government previously.
"You can mislead the people but you cannot mislead the experts," Najib wrote on Facebook today, shortly after Moody's latest report on Malaysia was posted.
The rating agency had maintained that "direct government debt" stood at 50.8 percent of GDP in 2017.
Well, it's obvious in this post, Moody is not Muhyiddin wakakaka. As to who is Moody, let's hear from Wikipedia:
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities.
Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies.
The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default.
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities.
Moody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies.
The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default.
Moody's Investors Service rates debt securities in several bond market segments. These include government, municipal and corporate bonds; managed investments such as money market funds and fixed-income funds; financial institutions including banks and non-bank finance companies; and asset classes in structured finance.
Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.
I wonder what is the new FM doing in his portfolio when it's Mahathir who has gone to Japan to borrow money (to increase our debt?) and Daim telling judges to resign, deciding on SST, etc.
What is the role of the FM?
Do we have money to build another-new Mahaton car?
Do we have money to build another-new Mahaton island at Middle Rocks?
[Mahathir built one about 40 years ago in the South China Sea NW of Labuan - after spending hundreds if not thousands of millions, I wonder what profit that island has brought for Malaysia?]
Is the new FM to be a puppet to take responsibility for the Japanese loans which had stung us before during Mahathir's previous premiership (1981 to 2003)? Remember that Anwar Ibrahim as once-Finance Minister was held responsible for the scandal of FOREX humongous loss.
Fucking Najib parrot Ktemoc strikes again, simply regurgitating Najib's spin.
ReplyDeleteMoody's was accountant jargon talking about Direct debt.
Last month , the Malaysian Government was forced to pay RM 144 M on 1MDB debt due. If not, Malaysia would be in Greece-style debt default.
That debt and similar 1MDB debt was not included in Moody's number , but nevertheless need to be paid - with real money.
Who is Najib kidding ?
Who is Ktemoc kidding ?
Just because a debt is hidden - but it still needs to be paid.
I do 't blame Moody's- they handle the accounts the same way everywhere
I blame Najib for exposing Malaysia to real but hidden debts accounting-wise.
poor Monsterball, working damn bloody hard for his dedak, wakakaka
DeleteHuh? I believe kaytee condemn madhater currrency control. And it doesnt recover....yes...no
DeleteEverything is ok because of najib...kaytee
our fm role is to talk najib, 24/7.
ReplyDeleteAnd najib? Why 1mdb in such mess in the first place? Why kaytee is so indebted to najib?
ReplyDeleteAll these politicians and credit agencies play with words and technicalities. To me whether it is debt, liability, contingent liability or whatever, this is leaf-blower accounting. Najib blows it one way, LGE blows it back. Blow-jobs.
ReplyDeleteAs long as our government (ie taxpayers) have to settle a HUTANG, it is a DEBT. In the case of 1MDB, it may have started off as a government guarantee or contingent liability but now it is confirmed the government has to pay back by installment to settle, so it is a DEBT.
Yes, that is why the vast majority of the Malaysian public agree with Lim Guan Eng.
DeleteA debt is money you are legally obligated to pay back. Full Stop.
Every ordinary person who has to earn a living , AND pay his debts understands that.
Fuck Creative Accounting. That is for Kleptocrats and their toadies.
KT places such high esteem on Moody to do selective fitnah broadcasting!
DeleteMoody's, along with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies.
YET, during the US subprime crisis, it was clearly identified that these Big Three had their fair shares of rating manipulations to prop up the infamous subprime bonds, cdos etc.
In fact, they made huge profits out of both their rating exercises & market participating!
They r the economic vultures of the worst kind!
My friend . Still strong 💪🏻
ReplyDeleteHi Matey, stay strong
DeleteMy advice to MCA is to act as a Community Service-oriented NGO , and rebuild your credit with the Chinese community - currently Zero - to await the day DAP becomes corrupt and out of touch ( as MCA is today) , then strike.
DeleteMy guess is it will take 15- 20 years.
or when there is tussle n break up among ph, or when all the no backbone mca leader retired or kena kick out, n the new one do possess some sense of shame etc etc
Deleteu sure 20 years cukup?
Kaytee matey? No wonder Kaytee also hit by the virus of "Do not know what's happenning after 9/5".
DeleteMCA should leave BN now and relect new leaders and chart a different future rather than be a Soh Chai in BN.
Should transform into a Buddhist/Taoist/Confucius based party since DAP is already too Christianised a multiracial party.
PAS being an Islamist party may one day be your ally since their leaders are also easily bought by lots of RM which MCA still has plenty.
The future is pointing towards a contest between secularist party vs religious party since religion has become a drug for Malaysians and as racism slowly dies away to be taken over by religion.
MCA still alive kah? Hahahaha!
DeleteYou meek cowards can only sum up enough courage to friendly fire your own mateys in UMNO, but lack the gumption to take on DAP wallflowers much less their attack dogs. Some like RPK theorise your lack of fighting spirit to you all playing a good cop, bad cop act with DAP, but from where I stand, you MCA folks are ball-less cowards, bar Wee Ka Siong who took LGE to the cleaners.
The MCA and especially you, Ti, only barks and growls at your teammates while whimpering away when face with DAP chihuahuas. You MCA lot are a disgrace to the MCA cause & to the Chinese community, the 90% of you folks should just quit politics or perhaps join DAP and continue to lick their lords' arseholes.
Let MCA be reborned by those who have some backbone that most of you lacked.
whether it is moody's or coody's or doody's they all have their own expert assessment and they may not be definitive, najib and naturally chabo would swear by it, airasia may prefer coody's, kimjung un may rely on doody's, Robert kuok may prefer nomura's, me I prefer to believe our own fm cos he has all the actual stats, accounts, reports and files that the others may not have at their disposal but seriously all these ratings or assessments don't mean shit to me but the thought of having to pay back the rm10 or rm1tril if you like, that someone stole that is getting on my tits..
ReplyDelete"Everything was rigged. Thanks to major lawsuits by the San Diego-based law firm Robbins Geller Rudman & Dowd, documents revealed that the U.S.’ two top ratings companies – Moody’s and S&P – have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash."
ReplyDeleteThe above reporting was from Financetwitter....relevant to our current discussion of how these rating agencies work.
"Between 2000 and 2007, Moody’s doled out AAA ratings to 30 mortgage-backed securities every day. When the 2008 subprime crisis finally hit the United States, 83% of those first class securities became junk – they were downgraded. The funny part was – Lehman Brothers’ own debt still had an investment grade rating when it filed for bankruptcy protection.
But Moody’s Investors Service wasn’t alone in scamming investors. Together with Standard & Poor’s and Fitch Ratings, the big three credit-rating agencies were all guilty for not only failing to warn investors of the dangers of investing in many of the mortgage-backed securities at the epicentre of the financial meltdown, but benefiting by not pointing out deficiencies.
In fact, S&P (Standard & Poor’s) was sued by the U.S. Department of Justice over its despicable role. Those credit-rating agencies were working hand-in-glove with investment banks in the marketing of risky mortgage-backed securities, also known as collateralized debt obligations, which helped bring the U.S. financial system to its knees 10 years ago."
For those who are interested to know more, go to :
http://www.financetwitter.com/2018/05/new-government-practices-transparency-and-foreign-analysts-agencies-arent-happy.html
Many GST lovers are so sad that it got zero-rated, and will be repealed soon. But understandably they are also distrustful of paying the 6% to Tabung Harapan. Therefore I suggest UMNO/MCA/MIC/GERAKAN, since they all voted to pass the GST law in Parliament, start a rival Tabung called Tabung GST so they can faithfully pay their 6% on a voluntary basis. Then we can have a friendly competition to see which Tabung can collect more. That way, in no time all the ratings agencies will be happy because we will have both bases covered.
ReplyDeleteGood suggestion. Bloggers like Ktemoc and his Botak Sifu should support this. Must stand up to PRINCIPLES, right ? the word that Ktemoc is so fond of, wakakakkaka. ROFLMAO !
DeleteBy the by, Umno member Lokman Noor Adam (who was previously from PKR) is now gunning for Youth Chief post...hehehehe. Ktemoc and Sifu Botak must come out in droves to strongly do some serious campaigning for him la...after all, he's your commander-in-chief of the Umno cyber warfare, with the cybertroopers and bloggers under his control, besides the mainstream media like Utusan, etc. Looks like he gotten over his shock and is now back with his chou kar attack again...these people have all the luck in the world...during Jibby's era, they can say anything they want...lie, spin, fabricate outrageously...but get off scot free. Now in new era sans Jibby Pirate, they again can practically get off scot free under the Freedom of Speech espoused by PH government. Sheesh...these people do have all the luck in the world, hihihi, except for that part where they lost an election, hoo hoo.
I sense a pattern emerging among Ahjib, Kaytee, cybertoopers in trying to draw attention away from some other hidden scandals which is so great as to annihiliate UMNO and it's component parties completely.
ReplyDeleteBy creating and sowing confusion on whatever PH is reforming currently, it is hoped some other things remain hidden while everyone is busy arguing over and buying time before a complete cleanup is done of whatever is still hidden from public eyes.
Could it be that Malaysia is already indebted and sold to some other countries based on some hidden agreements which even bypass all the Govt. ministries, BNM etc?
You mean a sort of Super Red Files that's locked up in some vault overseas that we Malaysian cannot get our hands on ?
DeleteMoody's do not pay our debt. We do. Fuck what Moody's has to say. Kt also do not have to pay for our debt. East for him to talk shit.
ReplyDelete