Friday, May 28, 2010

Malaysia Could Be Bankrupt By 2019

Malaysia will be BANKRUPT? Do you know that Malaysia is on its way to be bankrupt in just another 9 years in 2019? What? I read this shocking news this morning while enjoying my day off. Being a Malaysian, I have never thought that my very own country-Malaysia will be shadowed with the bleak prospect of being flat broke. All this while I have reckoned Malaysia to be a country with rich resources but with awful governance. Little did I know that the ice we are stepping on is so thin right now! :/

Malaysia Bankrupt
Malaysia would be bankrupt by 2019?

What had happened to our iceberg? Mismanagement? Corruption? It seems that we only have the tip left from the whole icy mountain. Why Malaysia is going to be bankrupt in 2019? The answer is simple, it is because all this while the Malaysia government has been pampering certain quarters of people too much by giving subsidies. In other words, Malaysians have been spoilt and we will be bankrupt soon! The subsidies given include petrol, food items, gas, toll rates, health care and education. If these subsidies are not cut as soon as possible, we will be doomed!

Malaysia Bankrupt
I can tighten my belt. No problem.

But the good news is we can prevent this tragic ending from happening! Malaysia will save RM103 Billion over the next 5 years if all the subsidies are reduced and stopped. That is a lot of money. Likewise if we thing that it is our special rights and privileges to continue to enjoy subsidies, then we have to be prepared to see our country becomes bankrupt by 2019. If the subsidies is not being halted, our country's debt will continue to grow by at least 12% per annum and by 2019 this huge debt will equal our country's GDP (Gross Domestic Product).

Malaysia Bankrupt
I hope we will not end up here. :/

When our debt matches our GDP, it means we are bankrupt (Debt=GDP=Bankrupt). And Malaysia will end up just like Greece who is bankrupt right now if we continue to be ignorant. So by hook or by crook, we have stop all the subsidies now. Our government has realized (finally) this problem and has initiated the move to cut subsidies. Of course this must be the most unpopular decision the government has made since Independence, but those who are educated know this must be done.

Malaysia Bankrupt
Cut all our subsidies. Potong! Potong~potong!

Those lazy and ignorant Malaysians who are always waiting for the government's help will be angry with this decision. These select Malaysians are the ones who are killing our country-Malaysia. They refuse to work, they refuse to labour because they know at the end of the day help will come to them. Because they claim this is their right and special privilege! No one will like this subsidies cut but we must do it for our future generation. I do not want my children and grandchildren to suffer from the "CRIME" that we commit. I want the subsidies to be cut for my future generation! Cut all the subsidies now!