Article: RM1.4 trillion in debt
MMJ 20220523
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Malaysians are RM1.4 trillion in debt
Yes Malaysians are RM1.4 trillion in debt but instead of shouting those figures as trouble for Malaysia it is more relevant to shout that as a monetary system gone wrong. In a monetary system where bank debts equal money we should be worried this will create unending general inflation suffered most by the poor and bubble rocketing inflation for house prices. We should also be worried the poverty gap will deteriorate - the rich gets richer and the poor gets poorer. When banks do not point money to real sector we should be worried for unemployment and frozen salary level for youth and graduates. We should also be worried that more young couples get bankrupt just so the bank owners get their pound of flesh. So while its trendy to jump at all figures as failure of current govt, monetary reformers hope people will begin to talk about the evil of the monetary system also.
We have always maintainde the cleanest of govt will still have inflation, rocketing house prices, unemployed youths and widening poverty gap.
We repost below our views on Sri Lanka vs Malaysia in terms of debt. It's the external debt where outside people can hurt us. Local debt is self-induced inside suicide.
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Dikemaskini [Updated]: Sam Ahmad 20230627