Time To Get Real

At least Malaysia's Prime Minister Najib Tun Razak is one who recognised that recent 60 per cent fall in crude oil prices affects the global economy, and Malaysia is no exception. When he tabled the RM273.9 billion 2015 Budget last October, it was pegged to US$110 (RM390) per barrel in 2014 and a projected estimate of US$105 (RM370) per barrel this year. His Second Finance Minister Datuk Seri Ahma Husni Hanadzlah said yesterday Budget 2015 will likely be restructured to take into account the weakening of the ringgit and falling oil prices. Opposition voices are already clamoring for the government to delay the start of a six-per cent goods-and-services tax which kicks in on April 1.

Insulated by his million dollar package, the Transport Minister who's middle name should be spelt with a "F" instead of "T", is still regurgitating the 3.4 per cent roll-over from the 6.6 per cent full hike recommendation of the previous fare review adjustment in January 2014. When Brent, light blend 38 API, fob U.K. was quoted at US$105.7 per barrel. He resorts to mathematical masturbation to demonstrate that a 2.8 per cent increase is a negative 0.6 per cent decrease. Hence the attention grabbing headline: "Public transport fares may drop next year: Lui"

In his recent interview, Lee Hsien Loong gave himself a pat on the back for "putting a lot of emphasis on education". Fortunately not everyone swallows the propaganda dished out in the classrooms, and more are getting educated by the school of hard knocks. They can see their shrinking purchasing power at first hand, continually eroded by government tariffs and charges which can only go up, never down. "You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time." - Abraham Lincoln