HK voodoo economics

Dear Legco members,

G20 and China in fact are now adapting the Macroeconomic policy while our HK government is still using their Voodoo economic policy in the new budget. During your question period about HK gov. involvement in Lehman Minibonds, please be reminded that the economic policy of Hong Kong is completely wrong and outdated. Mr. Chu is the best brain behind Lehman Victim group and his letter to Premier Wen in facts show (but not speak out)the anger of China government over HK government economic policy:

迷 債 苦 主 心 聲 - 請 中 央 政 府 插 手 處 理 溫家寶總理、習近平國家副主席：發生香港迷債事件，至今快半年，債主們在痛苦之中等待。一日不解決，如何能保持香港國際金融中心的地位？令香港整體社會經濟受損。再不能寄望曾特首為首的政府庸官，其等祗不過是前港英政府，在溫室"培養"出的產品，缺乏獨立判斷處理事件的經驗，不會主動採取處理問題 (去年東亞銀行擠提，雷曼兄弟破產前，股市U價事件)。無經濟、政治的危機感，高薪厚祿，無責任感 (其等薪金中，包括了職位上的政治責任的風險津貼，不知到了北京才知官位的大與小，在港也文也武擺款)。盼望中央政府插手公正公平的解決迷債事件，追查有關官員錯誤的失責(香港是問責政府，當然要查)。挽回政府管治威信，銀行的信譽，市民的信心，保持香港國際金融平台美譽。同時要求中央政府責令，以香港中銀集團為首的中資銀行，帶頭配合中央政策 - 安定繁榮香港社會，保持香港成為國際金融中心平台，向迷債苦主100%回購投資迷債的本金。如果此事發生於國內，中央政府會如何解決呢？是否任其一路惡化下去，危害整體社會經濟利益？為國為民，切勿拖延，造福市民，亦國家之福。請登入http://www.lbv.org.hk/查閱。

香港特區 - 迷債苦主朱先生2009-3-10

Prof. Sung, Ph.D from Univ. of Minnesota. , advisor of Regina Yip, dept. head of economic of Chinese University and represent Premier Wen macroeconomic advisors approach of Chinese economy-

Chairman of the Council of Economic Advisors during the Kennedy-Johnson years, Walter Heller (1915-1987) became the chief spokesman and exemplar of the "New Economics" which attempted to maximize economic growth through "fine tuning." Heller advocated deficit spending to spur economic growth. Professor of Univ. of Minnesota. during 70s. Heller followers worked for President Clinton and President Obama.

HK government Prof. Chan , Ph.D from Univ. of Chicago and statistician Yam, HK Univ. bachelor degree HKMA chief following Univ. of Chicago voodoo economics and both involved in cover up of Minibonds bank frauds

-Milton Friedman (July 31, 1912 – November 16, 2006) was an American economist, statistician and public intellectual, and a recipient of the Nobel Memorial Prize in Economic Sciences. He is best known among scholars for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.[A global public followed his restatement of a political philosophy that insisted on minimizing the role of government in favor of the private sector (eg. HK pirate bankers and US investment banks robbers). As a leader of the Chicago School of economics, based at the University of Chicago.

HK government in fact is now covering up their responsibility in the Lehman Minibonds frauds with all these delaying actions and also the new budget also shows that HK government is still insisting in small government approach with so small deficit spending to speed up HK economy that need your vetos to their wrong economic policy that will further sink HK economy to bottom.

Mr. Tsang Voodoo economics


Tsang keeps options open on new stimulus measures
(04-06 11:14)
Hong Kong may adopt a further economic stimulus package this year to counter the impact of the global financial downturn, Chief Executive Donald Tsang Yam-kuen said.

He said the territory is facing its most serious economic test since World War II but is in a position to weather the storm.

Tsang told the Financial Times the city had HK$400 billion in the bank ''so I'm in a good position to spend more if I want to ... If necessary we will do something in the middle of the year.''

While Hong Kong has generally capped government spending at 18 percent of gross domestic product, Tsang said it is difficult to make a major impact on the wider economy.

''Fortunately I've still got a lot of ammunition in my pocket,'' he said.

On Friday, Tsang said he will take more measures if needed to help people cope with the crisis.

The government will not be stingy when more measures are needed, Tsang said after a meeting of the so-called Task Force on Economic Challenges.

AGENCE FRANCE-PRESSE

Task Force on Economic Challenges sets priorities

The Task Force on Economic Challenges, established by Hong Kong’s Chief Executive, Mr Donald Tsang, and composed of top government officials, finance experts, economists and representatives of major industries, held a detailed discussion on the global situation and how it may affect Hong Kong's economy at its first meeting on 3 November.

After the meeting, Mr Tsang said that the Task Force had agreed to focus on boosting the competitiveness of Hong Kong's four major economic sectors and tapping new opportunities in them, while exploring more measures to support small and medium enterprises and promote employment.

"While Hong Kong's financial system has demonstrated a high degree of robustness and resilience during the financial tsunami, we will not be immune from the wave of global credit tightening and economic downturn. And being a small and open economy, the risk of Hong Kong going into a recession in 2009 has increased," he said.

"It is expected those sectors relating to financial services, trade and logistics, tourism and consumption-related services, real estate and construction services will be hit rather harder in the next year or so."

Mr Tsang said first and foremost is the urgent need to mitigate the extent and impact of the expected tightening of the credit market in the city, both for the corporate and the retail sectors, adding the Financial Secretary will continue to spearhead the Government's efforts on this front.

Noting SMEs in particular are facing increasing difficulties in their daily operations due to the tightened credit market and possible fall in consumption, Mr Tsang said members believe further measures to support SMEs should be considered.

He added that preserving the confidence of Hong Kong people in our economy and promoting employment are top priorities, noting that the unemployment rate is likely to rise.

In the coming months the task force will monitor global and local developments to assess their impact on Hong Kong, with its secretariat co-operating with government bureaux and departments in developing remedial and preventive measures.

Task force on economic challenges formed

Think tank: Chief Executive Donald Tsang briefs the media on the appointments to the task force on economic challenges.

Chief Executive Donald Tsang has appointed 10 people from different fields to the task force on economic challenges formed in response to the global financial turmoil.

They are:

* Mervyn Davies, Standard Chartered chairman; like to sell Lehman ELNs to old people.

* Dr Victor Fung, chairman of Li & Fung group of companies, Greater Pearl River Delta Business Council and International Chamber of Commerce; sold cheap toys and garments to help international name brands to make high profits .

* Prof Lawrence Lau, Chinese University of Hong Kong Vice-Chancellor and President; Ph.D. degrees in Economics from the University of California at Berkeley. May be replacement for Prof. Chan to please China.

* KC Leong, Roctec Futures Trading Company chairman and former Hong Kong Futures Exchange chairman; like to sell high risk derivatives.

* Margaret Leung, HSBC Global Co-Head Commercial Banking Group General Manager; appointed PIFL directors to steal our money.

* Ayesha Macpherson, KPMG Partner; HK low tax lawyer for the rich and accounting firm related to Lehman bank frauds.

* Dr Stephen Roach, Morgan Stanley Asia chairman; International shark. Sellers of Victory Peak notes, another type of Minibonds that some of the notes lost 100% of the values. Now non-Lehman related series 15 died in 2010 after Lehman bankrupt to show that these notes are very high risk which linked to Chinese government, an insult to China.

* Shih Wing-ching, Centaline (Holdings) Company chairman and member of the Estate Agents Authority and the Housing Authority; loved to sell very small house to Chinese very rich investors at very high price up to 30,000 /sq. ft.

* Dr? Patrick Wang, (Master degree at Physics) Chairman and Chief Executive Officer of Johnson Electric Holdings and Hong Kong Applied Science & Technology Research Institute chairman; and like to make cheap and unreliable motors for VW, Ford, GM that I quit as his engineer and only like to buy Japanese cars with Japanese motors that never burnt. He hired Joseph Yam as director in year 2010.

* Mathias Woo, Zuni Icosahedron Executive Director. HK Univ. culture sector with no international standing.

New perspectives

"The challenges ahead of us are daunting. The damage the financial tsunami has inflicted on the global economy has yet to be fully revealed. We need to evaluate the situation, consider ways to respond, identify new opportunities, and ultimately enhance our international competitiveness," Mr Tsang said.



"While the task force has a small membership and does not include representatives of every sector of the economy, I hope it can bring to us new perspectives. With experience and collective wisdom, members will come up with specific proposals for the Government and the relevant industry to consider and take forward. This will help us weather the storm and turn the crisis into an opportunity."

When asked about the appointment of Mr Woo from the cultural sector, Mr Tsang said he hoped every economic sector can join and help, adding the creative and cultural industry is a sector being affected, too. However, he said members have been named not only to tackle the long-term economic issues, but also to tap new opportunities.

2009年4月12日上午8:20
hanhoco 提到...

Donald Tsang is involved in protecting the banks and cover up of the HK Minibonds banks frauds by not investigating these criminal acts thru HK police with more than 500 cases involved since Janaury 2009 because they cannot received go ahead order by him. For cases involved in Shanghai Commercial Bank than knew about these 100 or more CDO's involved in Minibonds and related products, I know from the bank employee that all their bank managers were treatening to sell these Minibonds to old people, and these orders were given by top managers there and HK police with names of these bank managers never search the bank records.

Donald Tsang is involved in setting up free market economy in HK supported by foreign investors, financial sharks to steal money from HK coorparation and H-shares companies and even in business magazines these international sharks are praising him to be the last place on earth that they can steal money thru HK stock markets. Even Premier Wen is angry with him for not disclosing his free fall market policy to chinese financial experts to protect chinese H-share companies in HK stock markets in U-shape market price.

Donald Tsang when he got power from China government two year ago, hiring Prof. Chan, a University of Chicago Ph.D, who advocate Voodoo economics that allows political philosophy that insisted on minimizing the role of government in favor of the private sector (eg. HK pirate bankers and US investment banks robbers) to steal HK middle class lifetime saving thru Minibonds. And that forced China to set up new international financial center in Shanghai for chinese cooparations.

US govenment officials are admitting their private sector are causing these financial crisis, HKMA chief Yam is now cover up his role in allowing HK Banks frauds. There are many papers published by HK University, Baptish University, City Poly University, Chinese Univesity, ex-professors from China, Chinese government study groups based in HK, business accociations about Minibonds Saga and private sectors integrity and Donald Tsang continues to disregards these frauds and protecting Yam by not investigating his role thru OMD in allowing banks frauds

Donald Tsang is not adapting G20 and China Macroeconomics approach by deficit spending to spur economic growth, delaying all developement projects for the past five years, dispersing technical staffs to other countries including China for jobs. He is protecting Minibonds banks frauds, and his cover up is exposed in Financial Times, Yahoo.com, Googles, CNBC and tens of other major international media include many China financial media . And he is now covering up his wrong economic policy by lying to Financial Times that he mistakely disregards the level of financial crisis involved this time. All he cares is his indulging of slang wordings in Legco.

Donald Tsang and HK government judges are still protecting rich and powerful in the HK courts. PCCW case is only one small example. HK laws still use the old colony laws adapted from English to protect the new rulers of HK and disregards the charter on human right of UN with many violations by HK police which lag Univ. qualification police officers thru his uneducated police chief Tang . Donald Tsang disregards the calls of Lehman Minibonds Victims group to put bank frauds as criminal cases and negligence and wants to force victims to courts for justice that makes legal costs unaffordable for all victims in order to cover up banks frauds.

2009年4月23日上午4:41 (revised Sept 2010)

張貼意見