Tuesday, June 10, 2008

Horsemen in the Distance

First came China
Then came the West
All grew faster
And chewed up the rest.

US paid by printing money
China paid by its sweat
We all rejoiced
Now promptly got wet.

The US dollar sinks
And local prices rise
This does not make sense
Except when the ringgit tanks.

The ringgit stands firm
And sinks with the dollar
They say it's good policy
Trade surplus does us honour.

Use other people's fortunes
Rob windfall gainers
We shall all look good
When we play Robin Hood.

Set a minimum wage
To contain all the rage
Raise income higher
To fan the inflation fire.

What shall we do
What shall we do
We are all goody two shoes
But the shit hits the fan again.

Stay clear, you incompetent lot
Laissez faire will do the job
Leave us alone, leave us alone
Take your filthy hands from the pot.

Cut import tariffs
Ban import quotas
You'll see prices fall
In no time at all.

Legitimise smuggling
Remove import taxes
Businesses and trading
Will soon pick up their paces.

Now finally the good times are over
Fiscal policy cannot expand anymore
Monetary policy remains uptight
Inflation this round is not its fight.

Who grows the money supply
Who keep interest rates low
Who floods the system with liquidity
Speculation in property and equity.

Raise interest rate
Stop asset inflation
Prices will adjust down
The start of a solution.

People will then save
Better firms will thrive
Quality goods will be made
Wages will then rise.


nangka said...

A little late
I am afraid
where were you then
when we knew how to spend
Undoing economic policies takes years
A lot of political guts, and a lot of tears
Worse, with an ignorant finance minister
And numbers more than 10 cannot register
Where is the hope
Where is the dope
A new regime
for a new beginning
Can they make a difference
Rid the monopoly and bring in the competition
Or will we end up with more of the same
And keep playing the same game

CT Choo said...

Witty, wise and cheeky. I like it! After this literary & poetic interlude, how about some more economic analysis, O wise one?