RM60 Billion Stimulus Package – Will that help
Today the government announced a RM60 Billion stimulus package in order for the country to cushion the impact of the ever worsening global economy. Will the RM60 billion is sufficient or do we have that kind of money. As we all know that the US government is now broke and they need more bail out and stimulus package in order for the economy to survive and people to keep their job or worse some may not able to put food on the table tomorrow.
Else where too there are stimulus after stimulus package being introduce, the US, China, Australia and many other countries, we yet to see any positive impact. US giant insurance group may go to bankruptcy after efforts to save it seem to bring not positive result or it was merely to save the creditors. In China, cheap borrowing did not ended up in investment but to higher returning deposit thus economy still remain sluggish. Steel price remain rock bottom, an indicator that no economic movement has taken up recently.
There should be a more serious commitment by the governments and policy makers as well as investors and business owners that everyone should remain focus to revive back the economy.
Already the Dow Jones is at 7,000 points and I am not surprise to see some more retreat on the Dow. Many companies including big giant like AIG could be delisted. Citigroup market capitalization also dropped that some banks in Asia overtook the US financial giant in term of market capitalization.