JOE BIDEN

As posted by Dr. Mahathir Mohamad at Che Det on December 08, 2014

1. ​The United States assumes that it is the greatest democracy in the world and is in a position to tell others what is right and what is wrong and what they should do and what they should not do. On this assumption Joe Biden, Vice President of the United States chastised Malaysia for retaining the Sedition Act and the trial of Anwar Ibrahim.

2. ​Who is Joe Biden to take the moral high ground?

3. ​Being the Vice President of a country that detains people without trial for more than a decade, torturing them while in detention; a country where torture is legal, a country which has no qualms about invading other countries, killing millions of innocent people, destroying towns and villages, leaving them without electricity, water supply and sewerage systems; what right has Biden to condemn the retaining of a law to prevent racial conflicts and violence in Malaysia.

4. ​Today the United States is engaged in assassinating people opposed to America. Malaysia used to detain people without trial. But the United States passes death sentences without trial, without the knowledge of the victims even. Then drones are sent to kill the designated victims. The judgements and death sentence are not made in a court of law. They are made by officials. These people appoint themselves as judges, prosecutors and executioners. This is justice as practiced by America.

5. ​And America dares to claim that it is doing all these to protect democracy. What democracy is there for the innocent people killed, wounded and maimed for life? Wherever the United States goes there would be deaths and destructions.

6. ​In the United States itself there is no justice. Within a short space of time police shot and strangled three blacks. The grand jury then says that there is no case for the police killers to answer.

7. ​Arrogantly one white American official says the victims were killed because they resisted arrest. I saw the picture of a black raising up both hands. Is it how Americans resist arrest. The black teenager had no arms but was shot dead. A 12 year old boy had a toy gun. He too was shot dead.

8. ​Then of course there is this condemnation of the legal action taken against America’s candidate for Prime Ministership of Malaysia. The Malaysian courts have been extra lenient, taking more than five years, listening to appeals after appeals with nearly 30 postponements. In America a grand jury (whatever that may mean) decide not to indict and the criminal is free. Where is due process?

9.​ America is a land stolen from the Red Indians through genocide. Americans should really bow their heads down in shame forever.

10. ​Just don’t go around telling people how to behave and what they should not do. Tell it to your own people, about how Americans prosper through slavery, through discrimination against blacks and Hispanics, about spying on your own people, about your controlled media etc. That is what Joe Biden should do.

THE OIL PRICE

As posted by Dr. Mahathir Mohamad at Che Det on December 08, 2014

1. The price of one barrel of crude fell from US$110-00 per barrel to US$70-00.

2. Is it true it will have no effect on us (Malaysia) or that it will be good for us?

3. When the Government budget for 2015 was launched, it was premised on the price of oil being US$110-00 per barrel.

4. Obviously the Government expected its oil revenue to contribute to the budget based on this high oil price. Is it possible that the effect of the low oil price on the Government’s budget will remain the same, or will improve now that oil has gone down to US$70-00?

5. Petronas contributes to the Government a substantial sum by way of dividends and petroleum tax. Will Petronas contribution remain the same when it earns less from sale of oil, LNG and gas?

6. The oil and gas businesses which have grown very big lately was based on high cost to be paid for by high profits from oil. The capacity for payments of contracts at the old rate must be affected.

7. The lower price of oil must affect the servicing and payment of debts by producer. They have to sell more in a weak market. Profits must go down if not disappear completely. Taxes for the Government will consequently go down.

8. Unless the Government cuts its spending, the deficit must become bigger. The claim that it will not increase the deficits need to be explained.

9. When the Government reduces expenditure, a lot of businesses will suffer. Profits will go down and with it the taxes. Government revenue must decrease because of reduction in Government expenditure.

10. The pump price of petrol would only go down if subsidies remain. But the capacity to subsidise would be lowered because of less earnings and contribution by Petronas. Without subsidy the pump price will remain the same for motorists and industries. It might even go up as the Ringgit has depreciated. So the people will not enjoy the benefit from lower crude prices?

11. We import much of our raw materials and components for our industries. Mostly they are priced in USD which is now costly. We will have to pay more Ringgit for our imports. This will negate the benefits from the depreciation of the Ringgit.

12. I think we should not dismiss lightly the effect of falling oil prices. Share prices in the USA have gone down by considerably. Can we sustain our share prices, especially those concerned with the oil and gas business. Remember we went into this business when costs were high. Our expectations is that returns would also be high.

13. When returns go down due to the lower oil price, will share prices remain the same? As usual, the first to run will be the foreign investors. The locals will be left to shoulder the problems.

14. We have not yet signed the TPPA. Have we worked out what would happen when there is a massive flight to quality of foreign capital.

15. Incidentally, there is a new call for higher minimum wage. Increase in minimum wage must be accompanied by increases in wages above minimum to retain parity. Costs of production will go up and prices will go up also. We will become less competitive in the market, domestic and foreign. Some businesses will fold up. Unemployment will increase.

16. I think we should think carefully before we comment on the oil price.