Wednesday, 2 October 2013

Najib can't meet Obama

Was quite surprised at the speed at which President Obama dropped his plan on meeting the PM in Malaysia. This perhaps is a bit of gamesmanship because Najib has refused to sign TPPA. So now Obama can dangle the carrot of TPPA in front of Najib in anticipation of another state visit.

With respect to the Government shutdown, I would be surprised if it ends early. It seems that the Republicans will try to push this right to the end and maybe even trigger a technical default of the US Bonds.

I would guess the reason is for political legitimacy. The last time they folded too easy and now the markets dont take them seriously. In order for you to be taken seriously, you have to force the agenda - so thats why they will push it all the way and beyond the Oct 17th deadline.

In the meantime, the markets aren't pricing this in. Markets do have a short memory.

With respect to the auditors general report, I really do not see what the fuss is all about. There is absolutely nothing new, and in fact, if the wastages were as small as that, then then its a bonus. No point to go hoo-ha over this. The only thing that could ever trigger a change in the way how things are run is if the Ringgit : Sing dollar crosses 3. Till then, it will be this silly game that is not even worth getting worked up about.

1 comment:

Kampong man said...


Obama even miss the Bali APEC recently for the ovbious US budget problems.He will find a suitable date before his presidency expires he said.No big deal.Everyone has his priority right.Cheers dude.

@ Btw,have always thought you are Sakmongkol fan, no ?.