And so, I update this.
Well, Part 1 of my update today is about the National Budget 2011 for Malaysia. Yes, it is a 1Malaysia-based economy plan which is also the New Economic Model (NEM).
And here's the overview of the budget from Malaysiakini.
I bet many Malaysians are not somehow impressed with this high valued budget issued by our beloved Mr. Najib last Friday.
On education and some social improvement stuffs, like the MRT, I don't have any critics against it, however, when I was reading the highlights via Twitter during class at 5 pm, my senses told me that this budget is a materialized piece of budget that doesn't satisfy all Malaysians.
Even Anwar Ibrahim agreed with me in Twitter (yes, he replied me!) saying that it is a total waste of money.
And yes, I am one of the voices that is not impressed with the budget.
And so, this is my critique.
BEFORE THAT: I am not affiliated to any Opposition nor the BN political bodies. I am a political atheist who does not support either of these 2 parties, for I only believe in an egalitarian system (resource-based economy).
1. Our national debt will be increased.
Our government doesn't own 100% of our money. Besides of taking from our taxes, they also borrow money from the central bank for the extra expenditures. At the end of the day, they are to pay back the loans and the INTEREST rates in it, thus increase our debt to the banks.
They do this purposely for various reasons. One of them is to ensure the money circulation to be increased around the society. Printing out more money doesn't help solve the debt problem. Instead, it increases the debt amount as the government distributes the money via loans from the central banks. Remember the fact that money is DEBT. It exists from loans (principle), and the debts are impossible to be paid (principle + interest).
Here is an excerpt from Zeitgeist: Addendum where the narrator, Peter Joseph describes the creation of money.
So, it has been reported that our 2011 National Budget is 2.8% higher than the 2010 budget. Imagine how much more debt will our nation have. Little do our politicians know how deadly it is our banking system is - also known as the Fractional Reserve Banking System, or FIAT.
2. $5 billion "White Elephant" project?
As we all know, Kuala Lumpur is currently under the Greater KL project where we want the outsiders to know how "materialistically" awesome our new Malaysia will be by the year 2020.
And this new tower, named the Warisan Merdeka, is 100 storeys tall, and will outshine the "ageing" Petronas Twin Towers and the KL Tower. It shall be owned by Permodalan Nasional Berhad (PNB) and people will feel more grand by staring at that tower.....blah blah blah...
And my reaction is - What is the point of building a 3rd skyscraper while the other two had been well known internationally? Why join in the race for building the tallest city when you know that the tower costed in billions that should be used to benefit people more?
Why spend more on materialistic aspects and NOT on social aspects?
3. High income = high expenses
Yes, we all are delighted to know that we will be a high income nation. It sounds so positive right? But, a high income nations will have their daily expenses increased, and the increase of tax from 5 to 6 per cent is something that I expect along this concerning agenda.
Sure you can argue that there are laws being processed in order to ensure everyone, EVEN the poor security guards to have their salaries increased, but imagine what if your expenses are increased to the point where you find it hard to earn some savings for the future, what will be your thoughts about it?
As a result of this phenomenon, I can assure you that this high-income good news doesn't guarantee you that it improves social living, for the rich-poor gap will continue to skyrocket. Someone will be left behind. Plus, what about the increasing unemployment rates and the uncertainty of the Western-dominated financial system? They are unpredictable all the time, and you will not see them coming.
So, that's my critique ever since I heard the highlights last Friday. Based on the Facebook groups on Malaysia, I can see a radical change which is beginning to form within the Malaysians. I can see that they wanted a radical change, as people tend to solve problems, not money. So, why not allocate more monetary resources to help the people?
"What Malaysia needs is a radical change towards a welfare-based and loving society, NOT a materialistic one."
P.S - Please join this group if you disagree with the $5 billion mega tower project, our voices needed to be heard if you want to see positive change in society, as in spirituality and social justice.
"Armies can be stopped, but not to an idea whose time has come"
- Victor Hugo