Friday, 29 June 2007

The state of NEP, and its fallout.

mujehidin wrote:

Yet the Malays create numerous excuses to prolong their crutches mentality.

28/06 04:38:53


Yes mujehidin.

You said it right.

You wanna see how virtuous a nation is - watch the money.

NEPist think they can control money - they do not understand that money is an "idea", and not a piece of paper.

It is a contract for value, between two entities.

If there is exchange between them for anything other than this, slowly but surely, if perpetuated, it would lead to an economic meltdown. It would encourage corruption, and it would attract all the conmen, pirates, cheats and speculators who are the opportunistic capitalists (read- parasites).

That is why Zimbabwe is having an inflation rate of 4500%, today. They thought that the money will flow in the moment everyone had land and assets, once they give them wealth through “affirmative action”.

They did not understand that money will stay only with those who know how to "create wealth".

No legislation in the world can change the laws that rule the idea of "money".

Do the NEPists realize that by depriving others of opportunities to create wealth legally, by demanding respect through legislative acquisition of assets, they cannot suppress them (the entrepreneurial society) and elevate the Bumiputras? Indeed they don't. They don't realize that what they need to create, is a “paradigm shift” in the as a result of the acquisition of knowledge (via legitimate education/ competition), and not creation of overnight millionaires via “policies” of “affirmative action”.

Do they honestly believe that the rogues of the economy who have “struck gold” would actually care for the people of their own “kind”?

Do they believe, that by depriving the truly entrepreneurial guys of equal rights or legitimate opportunities and giving freely to parasites, would create wealth for the dispossessed?

Sadly they are mistaken .... all that they would succeed in doing is, driving the economy "underground" and creating a "black money" economy (as was the case in many socialist nations of the past e.g. India). This black money/ undeclared money cannot benefit the people and it has to circulate among the corrupt, or in the "entertainment and gaming industry". It encourages dubious business ventures in an effort to make it "white". (In India, there is even a movie theatre that screens the “Sholay”, three times a day – for the past 30 yrs - to an audience of no more than a handful, so that “they” can declare incomes from a “full house”!

The people raise a hue and cry when it is alleged that the police are part of the underworld – but do they have a choice? They are doing their job, as per the NEP, which has unwittingly given a boost to the underworld! Therefore it (the underground economy) has become an essential part of the NEP!

This black money is "hot" and it wouldn't stay, if it cannot turn "white" - hence the appeal of Swiss/ offshore banks, purchase of precious metals, entertainment/ gaming industry and dubious business ventures.

When there is strife and chaos as a result of an economic meltdown, this money will be the first to flee, while the people languish in squalor created by the "protectionist affirmative policies" that protect the criminals, rather than the victims.

This is what the NEP (as it is practised) is in actual fact doing.

This is where Malaysia is heading with its economic policies - Zimbabwe!.

Read excerpt from Atlas Shrugged at:

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