It would appear that my pedestrian reading of greater monetary movements into Malaysia in a recent blog post has been proven to be accurate. I am not insane! There is "hot money" flowing in.
There are murmurs about re-instituting some form of capital control to regulate the influx of these speculative funds into Malaysia's economy.
Analysts are expressing concern about capital controls being imposed.
I am in agreement with this school of thought that no capital controls should be instituted.
Any form of capital control runs contrary to what the Malaysian government has being pronouncing on economic issues.
The challenge is whether Malaysians are nimble enough to parlay this influx of temporary largesse into high multiplier activities as opposed to the narcissism of fooling around with Bursa Malaysia-listed shares and, buying condo properties in Mont'Kiara.
As the mariners know, when the wind blows you set the sails.
The thing is, do we have the right compass directions?
And, by the way, the economic managers shouldn't worry too much about the exporters, especially the palm oil industry.
It's time that Malaysian exporters wean themselves off their own version of a "subsidy mentality". Don't keep baying for a cheap Ringgit. That is a decidedly Third World mindset.