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Nor Mohamed: Economy under attack every 10 years PDF Print E-mail
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Sunday, 27 July 2008 10:55

(The Star) - The country’s economy seems to face “attacks” every 10 years, Second Finance Minister Tan Sri Nor Mohamed Yakcop said.

He said these “attacks” could be either coincidental or attempts by “unseen hands” to sabotage the economy.

Nor Mohamed said there seemed to be a force that planned to disrupt the country’s efforts to achieve higher growth.

Asked if he was merely speculating, he said certain quarters could have made attempts to undermine the Government and make it fall.

Nor Mohamed said the Government had to be resilient in finding solutions in facing the current economic situation.

“I don't know why our economy is attacked every 10 years, with the last being in 1998. When our economy is growing, it is suddenly stunted at the end of the 10-year period. This is puzzling me,” he told newsmen after opening the Tekun Nasional Business Centre in Tasek Gelugor here yesterday.

Nor Mohamed said the Government would adopt a more flexible approach in managing the economy to ward off any sudden attack on the economy.

“We have to ensure that our economy is managed in a dynamic, effective and competitive way, to make it resilient in facing challenges,” he added.

Comments (35)Add Comment
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written by miracle, July 27, 2008 11:07:34
yeah rite .. you .. , the govermt and the could step down leader are the cause... need not speculate further .. the certain quarters you mentioned definitly yourself make the country fall ...

world oil pricing down and still have to wait to see how long its stand down... "how long " is your "long" ... 1 year, 2 years .. 3 years .. to lower down the country oil price??? Full of bullshit , when you increased why dont you wait and speculate for how long the world oil price go up??? dont always think the rakyat are stupid ...
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written by jolmy, July 27, 2008 11:15:29
I'm surprised that he would make such a statement.

Anyone could forseen that there is a 10 to 12-year cycle of the economy based on past experience. Even I, who do not have any background in economy and finance have forseen this coming many years ago!

We have faced recession in 1962, 1974, 1986, 1997 and you can see the cycle repeats, after recession will be a recovery, followed by growth, and then into a recession again.

If a Finance Minister cannot foresee it and said he doesn't know why, then, I wonder how can he manage our economy?
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written by Ahjamal, July 27, 2008 11:16:41
Stupid Minister handling the country economy. Ask an answer which you are the subject on it. Under attack by who? UMNO/BN allows it to happen. Not only in every 10 years it is everydoay, spend the country tax payers money like it beyong to your fathers.
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written by apasalahku, July 27, 2008 11:30:10
here comes the conspiracy theories. Wonder which Jew they would use now as bogeyman? Steven Speilberg? Barbara Streisand?

This is the dude that lost RM10 billion from speculating with Bank Negara's fund. In any other country, he would've been sacked a decade ago.
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written by InEffective, July 27, 2008 11:35:17

27mill peoples being led by the finance illiterate brings new definition to qualified economic and fiscal governance.

Our financial futures sure do look promising...

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written by ctchoolaw, July 27, 2008 12:04:59
Hellooooo! EVERY YEAR the economy is being attacked by rent-seekers. Just ask all the non-Bumiputra bunsinessmen. What nonsense are you saying Nor Yakcop. http://ctchoolaw.blogspot.com/
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written by yellowkingdom, July 27, 2008 12:16:34
This incompetent Finance Minister is spouting filth as if he had a "Eureka" experience. IT is completely obvious that the Malaysian economy is full of holes like a sieve with every UMNOPutra's hand in the cookie jar. From infrastructural projects to sports projects, at every level from the Minister to the officer-in-charge leaks are not plugged.

He said these “attacks” could be either coincidental or attempts by “unseen hands” to sabotage the economy.

Hey! Nor Yaakob, Our very Government is sabotaging and undermining the rakyat. These hands reamin "unseen" because the Govt. chose to. Bring on the IPCMC and independent ACA accoutable to Parliament. Then let's see if these "unseen hands" are not remonved permanently.
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written by omarkhayyam, July 27, 2008 12:28:22
with a nasi kandar.teh tarik n roti canai background .... nor mohamed,

i believe what u say ... the unseen hands are actually waving again n one of it belongs to you and if i need an unseen finance minister u are are my choice

cheers
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written by Bradcrz, July 27, 2008 12:44:48
THIS IS A REALLY STUPID REMARK FM A FINANCE MINISTER..IT ONLY GOES TO SHOW HIS CALIBRE..TO BLAME CYCLICAL ECONOMIC WOES ON "ATTACKS"..INSTEAD OF LOOKING AT D PROBLEMS AHEAD TO RESOLVE THEM WITH CLEAR MINDS...
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written by FFT, July 27, 2008 13:16:32
It's called the business cycle you moron.

And the losses you perceive are solely due to UMNOputera rent-seeking and leeching.

And Malaysians, the Malays especially, get angry over the loss of Pedra Branca? Keep up this stupidity and maintain Ketuanan Melayu that churns out cabbages like Nor Yackop and you will lose your entire country next.
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written by capcomangel, July 27, 2008 13:49:46
if u are not doing wrong.i bet no one will attack u..but is u own self making trouble with citizen.

who correct, who wrong.rakyat know how to judge.not same like u gov always sit in air-cond room goyang kaki...rakyat already suffering to pay high gas price.u do happy isnt it?
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written by HARIMAU BIN ABDULLAH, July 27, 2008 14:14:09
From now onwards, it will be constantly under attack all the time, and on every other day, until the whole nation is bankrupt. The existing policy is bad for the economy, and now the political situation is making things worst. Unlike Singapore, we do not have a strong foundation for growth. 50 years of spoon-feeding the bumis has created a severely handicapped society. The result is clear: TDM = the most corrupt ex-leader. AAB = a lame-duck PM. Almost all the BN leaders are either stupid or dishonest. Even the Titanic cannot withstand this kind of situation. No pain no gain. We must learn from some of the highly successful Chinese who started with nothing. Yet they do not belief that wealth can last beyond 3 generations. Why do you think so many Malays become bankrupt????
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written by zonefinder, July 27, 2008 14:17:36
Nor Mohd, we are not surprised at your ignorance. Don't even try to blame the Global economy or the 10 yr cycle because you and your cohorts in Umno are the reasons why our country is slipping further and further down the league of nations. With more of your monkeying around, we will soon become a banana republic.
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written by Msian 2, July 27, 2008 14:17:51
Wow, such meaningful & colourful words'dynamic,effective,competitive,resilent'. Has wisdom too BUT this is TALK saja. Unfortunately Yakup can only fool the kampung folks & secondary school kids. Does he knows the meaning of meritocracies, transparencies and no racist financial policies ?? Oh yeah he sure understand cronyism & how to steal the rakyat's money as well as robbing their hopes. With so much financial mismanagement & if not for the $$ flowing from Petronas, the nation would be in worst shape. How come S'pore don't have this problem ???
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written by Awang Hitam, July 27, 2008 14:18:38
Satu Lagi Projek BN!
Try to hide BN failure to address the economy since 1997-1998. We knew our money from oil helped us through but you BN goons did not grow the business for the people. All mega projects were over priced and given to BN cronies without a care for fair competition!

Morons like this one was failed business associate of a compnay and AB appointed him as Finance Minister! What a joke! Now the joke is on AB and his BN! !0 year cycle my foot! It is 10-year cycle for change of Malaysian ruling government! Just get ready to face the wrath of Malaysian rakyat morons!
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written by temenggong, July 27, 2008 15:16:23
We have a superstitious FM, who probably also believes in conspiracies, UFOs, aliens, bomohs and Freddie Kruger!

The economy have to be continuously fine tuned and tweaked to adapt to worldwide , fiscal and monetary measures. There is no 'nyiap ing seng matakai' moron! Or do you already have a panel of bomohs and astrologers as economic advisors?
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written by Lim Lim, July 27, 2008 15:17:24
here it comes again!!for umnogoons,blaming others is always the easiest way out,but would the rakyat buy ur bluffing stuffs n easily taken for a ride??no way man,why not talking about the high possibility due to ur umno incompetency n corrupted practices??many sensible financial controllers hav started to be prepared 2 yrs ago on this economic onslaught;what hav u guys been doing???u goons hav been still busy carry on the 'one for u n two for me' stuff!!so,blame the world??n next,maybe blame god??
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written by mgeo, July 27, 2008 15:19:46
While he was at BNM, Malaysia achieved another world first "Boleh" title: first central bank to speculate in forex. When the other countries took note and leaned on us, common Malaysian paid for it.
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written by durianmangko, July 27, 2008 15:41:27
hang yg tak pandai gunakan otak, atau pun hang memang bingai hang kata ekonomi diserang setiap 10 tahun, kepada hotak hang
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written by 1st2stay, July 27, 2008 15:59:58
Nor Mohamed: Economy under attack every 10 years

True. Only, this time is the first time that the man at the top failed miserably in his undergraduate economics program, so miserably that he decided to take up Islamic Sciences. That's fine, we have Islam Hadhari now. But the problem we are facing is the one on the economic front.
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written by aplus, July 27, 2008 16:47:54
The only attack UMNO gets every 10 years is their syndrome of denial.
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written by Hello Keithy, July 27, 2008 16:51:51
In the case of Malaysia, it's a yearly occurrence. The economy will only recover if BN is no more in power.
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written by glock17, July 27, 2008 16:53:31
Hello Pak ***** Yakop....

Dun you dare blame outsiders for your own ministry screw-ups, mega corruptions, racism, judiciary manipulations, dark shady NEP that scared the shit out of the daylight of any law abiding hardworking people.

After you Omnoputras racist-corruptive narrow-minded ethno nationalist regime sucked fry this country....you start putting the blame on imaginery boogeyman such as International Jews, Israle/Zionist, pesky minorities infidel chinese, pork suppliers, tamil terroist, etc.

Mind you..your 51 yrs old systematic racist-corruptive governance system has weaken every economy fundamentals of this country to an erectile dysfuntional dick that is the (butt of) joke of all neigbouring country.

G17
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written by glock17, July 27, 2008 17:02:51
Dear Mamah Pak Yakult...

Your r another classical moronic minister we inherited from Omnoputra regime (after another ******* minister whom says loosing Pulau Putih is a 'Win-Win Situation").

After loosing 10billion of bank negara money in overseas speculation...u still have the nerve to become our FM...shame on you, you should be commiting 'hara-kiri'(seppuku) live telecast in front of United ***** and Nanah Organisation building near pWTC.

God Save Us All...if this eunuch FM still hold our country major economy decisions. We might as well start our roti canai stall b4 the oil runs out.

G17
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written by bunian, July 27, 2008 17:36:28
This is puzzling me
Coming from someone in your position, it indicates the intellectual quality that is pervasively lacking in people running our country. Our southern neighbor has well-qualified people, most of whom are senior military-grade reserve officers, managing their affairs -- and they don't go around braying "Is puzzling" this or "I don't know" that. What exactly is not puzzling to you, other than where the next cocktail reception will be or which opening ceremony will you be attending?
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written by capcomangel, July 27, 2008 18:10:21
did he ever think the failure project handle by them? how much it pay but cancel it by the way just like johor - singapore bridge,port klang scadal...how much i wasted by did not bring any income to rakyat?
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written by hiro, July 27, 2008 18:41:57
Every 10 years UMNO goes through a leadership crisis.

Every 10 years our economy takes a nose dive from bad to worse.

Malaysians can do the math. No more UMNO after this because it's one experiment we can't afford to carry out again.
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written by ricky, July 27, 2008 18:46:51
Coming from someone who manages our country's finances (or what's left of it), this has got to be the joke of the century ...
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written by ahmadneil, July 27, 2008 19:39:54
If he knows this happens every 10 years then why is he not taking any precaution. I bet he know nothing about economics.
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written by peace brother, July 27, 2008 19:54:39
Talking this subject like having a conversation at the KOPI TIAM is not helping at all in our economy, as a 2nd Finance minister.
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written by saladin08, July 27, 2008 21:06:03
Nor Mohamed: Economy under attack every 10 years......bla bla bla....

no no no....actually Malaysian economy mishandled by;
1. DUMB (Abdullah Badawi) and
2. DUMBER (Nor Mohamed)........nuff said!!!
smilies/angry.gif
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written by JaguhKampung, July 27, 2008 21:20:03
Yeah, attacked by Barua Negara.
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written by Experienced, July 27, 2008 22:47:37
smilies/smiley.gifIf we go by the Mr. 10% rule, then after 10 years it becomes 100%. Then the % attacks, not the foreigners. The cancer becomes the strongest and becomes difficult to attack. The economy suffers. Everything becomes cancerous, being 100%. More different cancers join in from every department. It started with the head. Loyalty must be shown to the head by following suit. Now we see the problems, Perdana maintenance, etc. Everywhere, the Gemas police-station, etc. You add to the list. All the people stand in awe with their mouths open including the Finance Minister. 100% increase over 10 years and we were productive. Now we stand with our mouths open and productivity suffers. We never saw it until it reached 100%. We stand and watch the miracle or disaster. From where do we start. Our capital gone and no longer at our disposal. If projects were 50% cheaper, the extra would come in and sustain us. What is the R & D on costs of double tracking per km. with breakdown and parties involved? Open tender is the answer. No more so-called negotiated tenders. No more robbers sharing the loot. Get brains into the civil service, not skin-colour. smilies/sad.gif smilies/sad.gif smilies/sad.gif
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written by Lim Lim, July 28, 2008 00:03:27
“I don't know why our economy is attacked every 10 years, with the last being in 1998. When our economy is growing, it is suddenly stunted at the end of the 10-year period. This is puzzling me,”
this kind of statement from the malaysia finance minister!many might thought that they were watching Rilley's 'believe it or not'!!!what a shame...he is an absolutely nonsense!!
Hey!Nor mohd,malaysian by enlarge know why but why not u?? the answer is jus clear n simple; BECOS U UMNOGOONS ARE CORRUPTED, INCAPABLE N STUPID!!do u get it now???
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written by Jimbo, July 28, 2008 00:26:30
Only an ******* and dickhead like Nor Mohd Yackob can blame others for the failure of UNMO to run the country effectively. 10 years ago the dickhead lost billions of taxpayers' money speculating on the currency market. For the last 51 years the UMNO led govt has been screwing the country of trillions of dollars belonging to the people.They just have no clue on how to run a country except to find ways to line their own pockets, get rich quick thru the AP's, govt contracts with exhorbitant prices, fictitious projects etc etc.
Of course they have not heard of economic cycles cos they never studied economics or commerce. They only did Islamic studies, malay studies and so on. Malaysia was way ahead of countries like Hong Kong, Taiwan, South Korea, Singapore, and where are we today compared to them. They also have no oil and bountiful land. They used brain power, ours used corruption power and skin color. Of course coupled with dickheads running the govt what can we expect.
So Nor please shut the **** up and don't embaress yourself. If you don't speak at least we think you are dumb and not stupid!!!!!!!
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