Friday, August 20, 2010

Results vs Realities

According to The Malaysian Insider, Anwar Ibrahim mocked the country’s 8.9 percent economic growth in the second quarter of 2010, saying it has not been felt by the general public. The PKR leader also said his Pakatan Rakyat (PR) could do better and would implement “policies to step change the level of wages in the country to achieve a minimum household income of RM4,000” (Webpage http://www.themalaysianinsider.com/malaysia/article/latest-gdp-figures-dont-reflect-reality-says-anwar/, posted August 19, 2010).

“The disconnect between an announcement of stellar economic performance and realities on the ground is symptomatic of an economic management that is unable to eradicate income inequality in society,” Anwar said in his usual eloquent style. I certainly agree with him because there isn’t much cause to celebrate when the rakyat has to endure continuous price hikes in an economy that is lackluster – putting aside the fantastic economic figures released by Bank Negara on Wednesday.

In the Europa League qualifier, Liverpool produced a slender first-leg 1-0 lead over Turkish side Trabzonspor. The Reds scored when Joe Cole produced a surging run from midfield and weighted a nice pass intot he run of Ryan Babel, who took a touch before sidefooting high into the far corner of the net (45+1).

And Celtic boosted their chances of reaching the group stages of the Europa League with a home win against FC Utrecht. Celtic midfielder Efrain Juarez gave the hosts a 19th-minute lead with a powerful strike after good work by Georgios Samaras, and then the latter doubled Celtic's tally in the 34th minute with a fine strike of his own from distance.

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