Commodity Prices Are More Important Than Stock Prices

Commodity Prices Are More Important Than Stock Prices

Ma Ying-jeou Office Press Release
July 26, 2007

KMT vice Presidential candidate Vincent Siew said on July 26 that the DPP government had taken no action in the face of all-time-high commodity prices in Taiwan and the index for the misery of life for ordinary people continually rising. Ma Ying-jeou outlines four points on this:

1.Government officials are only able to sit in air-conditioned rooms looking at numbers. They do not believe there is a commodity price-rise issue because the consumer price index has risen only 0.61 %. However, they do not know that the price of gasoline has risen 11 times in as many weeks and the latest rise has seen the price of one liter of fuel go up by 25% from NT$ 25 to NT$ 30. This proves that the DPP government has no cure for the ills besetting Taiwan’s economy.

2.The DPP government is only able to use non-economic methods in an attempt to solve economic issues. It subsidizes the price of gasoline. So why not subsidize other domestic expenditures, for example, cooking oil?

3.In recent years, wages have not increased, which has made people particularly sensitive to commodity prices. The reason why wages have not increased is that the DPP has ruined the economy.

4.Commodity prices are more important than stock prices. Now the stock market is doing extremely well because of the infusion of government and external funds. However, ordinary people are not benefiting from rises in stock prices, nor have their lives got any better. Therefore, there is a necessity to allow the KMT to regain power next year in order to make Taiwan’s economy strong once again.

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