From time to time, economic statistics get revised. Usually statisticians require a lot of time to compile data and in that mad rush, certain data could left out first and included only later when everybody gets a chance to reflect. There is nothing structural about the revision. It is just about errors, corrections and business […]

There are a lot of discussions about federal-state relations, especially with respect to Sabah and Sarawak. But I find those discussions and the points stressed are really hard to pin down in terms of numbers. So, I am putting the following chart up, mostly for my own purpose, and perhaps, also for the make benefit for glorious […]

Ten months into 2014, I have now resigned to the fact that my projection for the annual inflation rate in Malaysia is too high, with the actual rate being relatively benign. The reason I had put it so high — it was in the region of 3.5%-4.0% compared to what it would likely be, which is 3.0%-3.5% — […]

Here is an interesting paragraph which describes how a cut in government debt can lead to lower borrowing cost in the economy: A decrease in the supply of government debt has forced some money fund managers and cash investors to scramble for alternatives. Higher demand for commercial paper, repurchase agreements and other short-term private debt […]

Democracy by far is the most respectable way a society can govern itself. That, however, does not mean that democracy has no weaknesses at all. As Winston Churchill is often quoted, “democracy is the worst form of government except all the others that have been tried.” It is the best that we have after thousands […]

I do consider the payment of income tax as a responsibility I must fulfill. As a member of society, I have some responsibilities toward its maintenance. The fact that I am a citizen makes that responsibility of paying taxes doubly important. That responsibility arises from my enjoyment of multiple public goods that exist through public […]

Let us take for granted the assertion that a government cannot default on its debt obligation if all of its debts are denominated in the local currency. For the more macroeconomic inclined, if a country controls both its fiscal and monetary policies, it can never default on its debts. Taking the axiomatic approach notwithstanding the […]

There is a narrative going around in Malaysia that a government which has a majority of its debts denominated in a local currency can never default on its borrowings. For the purpose of clarity, it is the case where a national government has control over both its fiscal and monetary policy. I have trouble with […]

I am a supporter of regionalism. Despite whatever jokes I may have about the euro, I do not want to see its disintegration. While I have refined my opinion by stressing on the importance of having similar economies coming into a union instead of having a disparate set of economies with wildly different setups and […]

I do not understand the intricacies of Japanese politics. I simply do not follow it closely. But I do know that Japan can play a significant role in Asia, if it finally decides to take up that role, which it has not under the uncertain leadership of the Democratic Party of Japan. The DPJ wanted […]

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