TEORI EKONOMI AUTA MAT MASLAN DAN RAFIZI

Here are unbelievably naive and misinformed comments by Rafizi and Mat Maslan over the OPR hikes. My comments in blue.

Rafizi says PKR MP wrong to fear interest rate hike will cost unity govt in state polls
Rafizi said PKR Pasir Gudang MP mistaken OPR increase jeopardise state polls
I told him to not follow the opposition’s sentiments
wrong if he is afraid OPR, EPF issues affect votes in state elections

Rafizi not personally briefed by BNM over OPR rationale 
OPR hike necessary to support ringgit

(OSTB : Support the Ringgit? Mat Maslan said the OPR hike was to reduce inflation. Rafizi says it was done to support the Ringgit. Ini sudah lain cerita. But the Ringgit is still weakening. Here is the one month chart for the Ringgit vs US Dollar. See that red line (I drew it but you can see the trend - it is down, down, down). The Ringgit is still weakening. The OPR hike is not helping.)

problem attracting and retaining foreign investors into Bursa Malaysia

(OSTB : The Bursa Malaysia or any stock market cannot and does not come under the area of monetary policy of any central bank anywhere in the world. This is Rafizi's auta economic theory. It is NOT the job of Bank Negara to try and save the stock market.

And how is the Bursa Malaysia doing? Here is the KLCI Chart (Bursa) for the past three months. It looks like a roller coaster going downhill. How is the OPR "helping" the KLCI? What d' hell is Rafizi talking about?

Rafizi said: “For example, if our interest rate is below three per cent and Indonesia is around five per cent, potential and current investors might look to Indonesia to invest in the stock market. 

(OSTB: Nauzubillah. The Minister of Economy does not understand basic finance. When interest rates go up it kills any stock market. Why? Because the margin traders (please call your nearest stock broker and ask him what the hell are margin traders) will suffer higher bank borrowing costs to buy shares through margin trading. Higher interest rates means higher borrowing costs which will dampen any stock market.

Rafizi has confused interest rates, the stock market and savings rates.  When interest rates go up, the savings rates, money market rates and fixed deposit rates should also move up and this will attract savings into Ringgit (including by foreigners). This will push up the demand for Ringgit and hence strengthen the Ringgit. The stock market is something else. Higher interest rates will kill the stock market.

Ok now lets hear Mat Maslan's auta economic theory:

OSTB : Tuan-tuan dengar baik-baik. Mat Maslan kata 

• rakyat tidak faham
• bila OPR naik ianya akan turunkan kadar inflasi
• OPR yang rendah pula akan jejaskan kos sara hidup

Maksudnya Mat Maslan yang pandai, dia faham sangat. Orang lain tak faham. Orang lain bodoh. Inilah kaliber pale hotak Mat Maslan.

First of all Jabatan Statistik kata kadar inflasi negara kita well under control. 

Indeks Harga Pengguna (IHP), yang mengukur kadar inflasi di Malaysia turun kepada 3.4 peratus pada Mac 2023 menurut Jabatan Perangkaan Malaysia (DOSM).

Hello Mat Maslan dan Rafizi, Jabatan Statistik kata kadar inflasi negara sudah pun menurun kepada 3.4% sahaja.  Jabatan Statistik pula bawah kawalan Menteri Ekonomi.

Habis pasal apa pula Bank Negara kasi naik OPR? 

Ini ada carta inflasi lagi:

Sila lihat sendiri - Jabatan Statistik kata kadar inflasi sedang menurun.

Mat Maslan kata OPR yang rendah akan menjejaskan kos sara hidup. Ok kalau begitu then kenapa tidak naikkan OPR menjadi 10% atau 20%?  Lagi tinggi OPR maka lagi bagus untuk menurunkan kos sara hidup ke?  

Tetapi Jabatan Statistik kata inflasi sudah menurun ke 3.4% sahaja. Tetapi bila OPR naik, kos bayaran bulanan kepada bank (housing loan, personal loan, car loan) semua akan melonjak naik. Lagi ramai yang hutang kepada bank boleh bankrap. 

Yang sangat jelas, bila OPR naik, bank-bank GLC dan bank-bank yang oligopoli akan bertambah kaya daripada kenaikan interest rate bagi housing loan, car loan dan apa jenis pinjaman bank pun (termasuk bank yang berperisa Islam). Mereka semua akan kaya.

Rakyat marhaen akan rugi.

Bila tarif elektrik bagi pengguna MV dan HV dinaikkan 54% pada Disember 2022 (37 sen kw/hr ditambah 20 sen) harga barang naik sekali. Persatuan penjual kereta umumkan harga kereta naik 10% bulan Januari 2023 sebab kenaikan tarif letrik. 

Hanya syarikat letrik GLC itu yang untung atas angin, kaya berbillion Ringgit. 

Rakyat marhaen  rugi.

Baru ini konsesi tol bagi EMPAT highway bertol di Lembah Klang dilanjutkan tempoh konsesi.  Rakyat marhaen bayar sajalah. Rakyat marhaen rugi. 

Begitu juga konsesi monopoli syarikat gergasi farmasi dan konsesi monopoli syarikat gergasi impot beras semua sudah dilanjutkan lagi.  Rakyat marhaen terpaksa bayar saja. Bayar sampai kiamat.  

Yang saya nampak, kesemua ini untuk memperkayakan syarikat GLC, bank-bank GLC dan kaum elit yang semuanya boleh membantu kaum politik. That is what I see.

Nak kata hak tuan-tuan terpelihara atau kebajikan tuan-tuan dibela - all that is bull sh-t sahaja.  

 The views expressed are those of the writer and do not necessarily reflect those of MMKtT