23rd October 2008: Bursa Malaysia KLCI closing at 891.32 points, down 12.96 points or 1.43% from previous day closing. A total of 477 counter down. Regional market generally in the downwards trend.
I still clearly remember our Deputy Prime Minister cum Finance Minister Datuk Seri Najib, 2nd Finance Minister Nor Mohammad, and Deputy Finance Minister Kang, told public and media that our country's economy remain stable, and not likely to be affected by the global financial turmoil happening now. We (the country) have strong reserve, with the capacity to finance up to 8.7 times of the country's short term debts. No worries, we are save.
3 of our top person in the country's Finance MUST BE GENIUS. One has taken over the Ministrial position less than a month, the other one also not sure whether he understand economy, the lowest ranked even worst, made to sit there just to fill the position. And they dare to convince the nation, that the country's economy is still very strong, remain resilient to downturn.
Days ago, announcement was made about the capital injection plan of RM5 billion into ValueCap for local bourses investment especially in undervalued GLC shares. Nor Mohd further said that there are genius in ValueCap who are very well verse in investment. He think that they can make the difference.
Today, the share market still tumbled.
Do not try to capture the falling knife, it could be dangerous.
But the people, including the government keep doing that. Simply because, they thought they are smarter than the rest. The can create the difference. They are different.
So, do you still believe them?
