Mon, Sep 23, 2013 - Page 8 News List

[ LETTER ]

Ma must step down

Can Taiwanese afford to wait for President Ma Ying-jeou’s (馬英九) “reign of error” to end following his second — and thankfully final — term in the presidential office?

Although Ma wrote his thesis at Harvard University in the US, his economic policies in Taiwan are a complete disaster. He clearly does not understand fundamental economic principles: praxeology — the study of human economic interaction — capital allocation or basic property rights.

His “6-3-3” promise of 6 percent GDP growth, 3 percent unemployment and salaries of US$30,000 was wildly optimistic even as the promise tumbled from his lips on the campaign trail. There is a word for that: “incompetent.”

He further promised to give away half of his salary if he failed to reach these goals. It is now five years and his polices have failed, but he has not acted on that promise either. There is a word for that, too: “liar.”

There has been no progress on any of Ma’s “12 iTaiwan” projects and there is no sign that a “golden decade” will start any time soon. Ma is a disgrace to Harvard and a disaster for his voters.

Apart from the efforts of Taiwan’s worthless media, I fail to see how this vainglorious ass got re-elected given his failure to understand that any island-based economy will bleed itself dry if it relies on imports for its food and energy. Meanwhile, exports of high-tech components are rapidly being stolen by its nominal enemy, China.

Ma is focused on the 20th century macropolitical world and ignoring the 21st century challenges to the global climate, economy and the people he was elected to represent.

The Ma administration is also borrowing and spending like a drunken sailor. Given that Taiwan is not under the IMF umbrella, where UN membership is a prerequisite, who is going to buy government bonds to support the insane 18 percent preferential interest rate given to former teachers and carpetbaggers from the Chinese Nationalist Party (KMT)?

This fiscal unsustainability will not end well for Taiwanese and given that China’s economy is on the verge of collapse, no help should be expected from the communists.

Ma’s incompetence and deceit must not be underestimated or ignored. This crisis is real, and it is here today. Taiwan’s banks and individuals should sell all of their US paper and buy as much gold as they can as quickly as possible.

Time is running out before a low-growth, low-carbon global environment faces the harmful effects of climate change. The first frog to jump out of the slowly boiling pot will certainly be the winner in this finite global game of food, resources and energy.

The president is an absolute economic moron, whose transparent intention is to destroy the economy. It is imperative that forces unite against his autocratic legacy.

The nation’s leader must put partisan issues aside and prepare for the upcoming economic and climatological disasters.

TORCH PRATT

New Taipei City

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