Millions of Malaysians voted on Sunday with one of the world's longest-serving governments under serious threat from an upstart opposition that pledges sweeping reform.

• PHOTOS
• VIDEOS

Voters queue up to check their names on the electoral list outside a polling station in Georgetown, Penang on May 5, 2013. (AFP/Goh Chai Hin)

• 

• prev
• ENLARGE
• next

KUALA LUMPUR - Millions of Malaysians voted on Sunday with one of the world's longest-serving governments under serious threat from an upstart opposition that pledges sweeping reform.
Eager voters queued at polling stations across the multi-ethnic country, but the process was marred by controversy from the start.
Voters took to the Internet in droves to accuse Prime Minister Najib Razak's government of trying to steal the election, as indelible ink that he touted as a guarantee against voter fraud was found to easily wash off.
The complaints added to other allegations of irregularities that have raised the spectre of a possible disputed result.
Polls closed at 5:00 pm (0900 GMT), with first results expected within hours.
The Election Commission estimated about 80 percent of 13 million voters -- or more than 10 million people -- turned out, which it called a record high.
The figure compared to eight million people voting in 2008. Malaysia has a total population of 28 million people.
Until Sunday, the supremacy of the ruling bloc dominated by the United Malays National Organisation (UMNO), and now led by Najib, had not been threatened since independence in 1957.
But the diverse Pakatan Rakyat (People's Pact) opposition alliance captained by charismatic former UMNO star Anwar Ibrahim stunned the country with historic gains in 2008 polls and is gunning for a landmark victory Sunday.
"There is clearly, undeniably, a major groundswell and a major shift among the population across ethnic lines," Anwar, 65, said after he cast his ballot in a polling centre in his constituency in the northern state of Penang.
"Inshallah (God willing), we will win."
Najib's 13-party Barisan Nasional (National Front) coalition is widely given the edge, but Anwar has been feted by massive crowds on the stump and recent opinion polls have suggested a race too close to predict.
Pakatan has gained traction with pledges to end ruling-party corruption and authoritarianism, and to reform controversial affirmative-action policies for majority Malays. Anwar says they are abused by a corrupt Malay elite.
His back to the wall, Najib has offered limited political reforms but a largely stay-the-course vision for the Muslim-majority nation, while touting solid economic growth.
The ink was introduced for the first time and touted by Najib and the Election Commission -- widely viewed as Barisan-controlled -- as proving their commitment to fair polls. It is applied to a person's finger to show they have voted.
But voters like Halim Mohamad, 77, said the ink, supposed to stain the bearer for several days, washed right off.
"This is cheating. I was shocked when it came off," he told AFP after voting at the same polling centre as Anwar, showing his cleaned index finger.
"I complained to an Election Commission official and he just laughed."
The opposition had already alleged numerous irregularities including a charge that tens of thousands of "dubious" and possibly foreign voters were flown to key constituencies to sway results.
The government has said the flights were part of a voter-turnout drive but has provided no details, while Najib tweeted Sunday that no foreigners were drafted in.
"We are committed to a fair election," he said.
But videos, pictures and first-hand accounts of purportedly foreign "voters" being turned away from polling centres went viral online.
Anwar was a former deputy premier until his ouster in a 1998 power struggle and six-year jailing on sex charges widely viewed as trumped up.
He later brought his pan-racial appeal to the once-divided opposition, dramatically reversing its fortunes.
Najib has warned of chaos and racial strife under the occasionally fractious Pakatan, which includes Anwar's multi-racial party, one led by ethnic Chinese, and another representing conservative Muslim Malays.
Najib's ethnic Malay-dominated government retains powerful advantages, including control of traditional media, key institutions and an electoral landscape critics say is biased.
"It's a tight run. But I'm not scared, I'm excited," retiree H Y Ong said of the race before voting in the capital Kuala Lumpur.
"The times have changed, they (the government) need to change. Money politics should be controlled," he added, while not divulging his voting preference.

- AFP/ir

Three injured in scuffle in Air Putih

4pm: Air Putih, Penang - Three people have been reported injured after a scuffle broke out between a group wearing 1Malaysia t-shirts and members of the public at the SRJK(C) Kong Min polling centre earlier this afternoon.

According to eyewitnesses, the 1Malaysia group had challenged some people to a fight.
The police have detained a suspect.

Caretaker Chief Minister Lim Guan Eng, who arrived about 3pm, has called for calm.

Lim is the incumbent and candidate in the Air Putih state seat which falls under the Bukit Bendera parliament constituency.
3.40pm: Star Online quotes EC chief Abdul Aziz Mohd Yusof as expressing the hope that the turnout will be better than in 2008, which was about 75 percent.
"If we can get a turnout of 80 percent or higher, it would be among the highest in the world," he reportedly said.
Contrary to the Bernama report earlier, also citing the EC, Kelantan leads the way with a turnout of 62.02 percent as at noon.
It is followed by Kedah (61.88%), Terengganu (60.9%), Johor (60.01%), Perlis (59.27%), Penang (59.04%), Pahang (59.02%), Selangor (58.9%), Negri Sembilan (58.35%), Sarawak (58.26%), Perak (58.08%) Sabah (57.1%), Putrajaya (55.82%), Malacca (55.67%) and Labuan (45.82%).
3.30pm: Segamat, Johor: PKR claims that its agent was told to leave a polling station in Felda Palong Timur after discovering that voting was being conducted in a disorderly manner there.

"Our officer was told that his duty was done there and he should leave," says campaign worker Victor Chua.
"We were informed that the EC officers there did not print out the electoral roll and only recorded voter's information from the computer on a piece of paper with the 1Malaysia logo."
The polling station is Palong Timur 140/01/03 at SK Palong Timur 1.

PKR is mobilising its people to put pressure on the polling station which is 40km from town, deep within an oil palm plantation.
3.15pm: Alor Setar, Kedah - Unlike other polling centres here, Chinese voters outnumbered the others in the morning hours at SRJK (C) Keat Hwa.

The gloomy weather and light drizzle has not deterred voters from lining up to vote.
A graduate student from Universiti Malaya in Kuala Lumpur expressed her wish for federal power to change hands.

"I want a change from BN to Pakatan Rakyat. I was to abolish PTPTN. Support Pakatan, I want free education," says the first-time voter who did not wish to be identified.

She says 90 percent of her friends on campus have returned home to vote.
3pm: Air Putih, Penang - Caretaker Chief Minister Lim Guan Eng's press secretary Cheong Yin Fan reports that a member of the public has "caught" a Bangladeshi coming to vote at the SRJK(C) polling centre in Air Putih.

The voter, JJ Choo, says he felt there was something suspicious about another voter, who later was discovered as a Bangladeshi with a Malaysian identity card.

Choo went to the EC website and tried to find his name, which was actually registered under another polling centre - Chung Ling High School, in the Air Itam state seat.
He immediately alerted the DAP volunteers on the ground, who contacted the DAP candidate for Air Itam Wong Hon Wai.

However, nothing could be done as the person holds a valid IC.
3pm: Penang - The DAP's Tanjong candidate Ng Wei Aik has lodged a report with the EC because some ballot papers have not been stamped.
Ng, who is the Penang DAP secretary, said complaints were received from three locations or polling centres:

- SJK(T)) Jalan Sungai (under the Jelutong parliament constituency)

- SJK(C) kong Min Cawangan Kedua (under the Bukit Gelugor constituency); and

- SK Taman Sejahtera under the Bukit Mertajam constituency.

Penang EC deputy director Mohd Faiz Syazwan Zainal Abidin says some ballot papers were not stamped due to the "negligence" of some officers.

"Whether stamped or not, we will accept the papers as it is according to the EC regulations," he says.
3pm: Kota Damansara, Selangor - Despite the heavy downpour, voters are resolutely making their way to polling centres.

With less then two hours before polls close, endless shouts of "Ubah" (Change) and "BN" can be heard from supporters of Pakatan and BN rspectively, who are sheltering under umbrellas. Each side is determined to outdo the other in cheering.
2.47pm: Tamparuli, Sabah - A woman dressed in what looks like a security guard's uniform walks out of a polling room at SK Pekan Tamparuli, with an unmarked ballot paper.

When stopped by polling agents and police officers, she says: "Oh, I need to fill this in, too? I didn't know!"

EC officers allow her back in to mark the ballot even though her finger has been marked with indelible ink.

It appears that she had cast her ballot for the parliamentary seat, and not the state seat.
2pm: Penang, Air Putih - A scuffle has reportedly erupted at the SRJK(C) polling centre in Air Putih, reportedly involving individuals wearing the 1Malaysia blue t-shirts.

Incumbent and DAP secretary-general Lim Guan Eng, who is defending the state seat, is rushing to the venue, from a visit to the parliamentary constituency in Bagan on the mainland.
Up to now, 67.51 percent or 569,184 voters - of 846,232  on the electoral roll - have voted.
2pm: A team of 18 foreign observers has been watching the voting process at various centres around Kuala Lumpur since this morning, reports Bernama.
Twelve of them - from Cambodia and Thailand - were accompanied by EC secretary Kamaruddin Mohamed Baria.
Observers from Indonesia, Myanmar and the Asean secretariat are also observing the 13th general election on the EC's invitation.
Those met at the polling centre at SMK Seri Gombak described the process as "accountable", also praising such features as the use of indelible ink and the vetting of voters prior to the ballots being marked.
Later today, they will be taken to the counting centre in Putrajaya.
The EC has also endorsed 1,200 local observers from 17 NGOs.
2pm: St Paul Institution, Seremban - The EC officer stationed here says the number of voters has dropped off. Some had to line up for up to two hours this morning. 
1:40pm: Segamat, Johor - The stand-off between Chua and the Umno woman continues at SK Bukit Hampar.

Chua: I saw voters passing you their identity cards because they thought you are an Election Commission officer.

Woman: I'm just helping, I didn't do it, it's someone from my (party) division that did it.

Chua: I saw you doing it with my own eyes

Woman: Yes, but that is the division's. That person was the one checking, he has left.

The police arrived five minutes and concurred that it was an offence under the Election Offences Act.

"We will investigate once a police report is lodged. By right, those who allowed inside are only those with EC passes.

"For now we consider the matter resolved. We have asked her to leave and taken her details.
"It's up to your side to make a report. Our priority today is to ensure there is no disturbance here," said a police officer named Nasyim.

The woman later denied that the name list belongs to her, and the police urged her to also make her own police report. 
1.30pm: Citing multiple reports nationwide of long delays after voters were forced to do a manual search of their voting stream, PKR has urged the EC not to delay the process with bureaucracy."Voters who already know which voting room (saluran) they are in, usually (by) searching the EC website beforehand, should be allowed to proceed to their respective voting rooms," says the party in a statement.

1.33pm: Malaysians for Beng Hock coordinator Ng Yap Hwa who cast his vote at SK Sri Tangkak, at 11am, has complained that EC officers demanded that he remove a yellow ribbon with a Bersih logo worn on his hand.
This was despite him arguing that only political party symbols and colours are not allowed. He intends to lodge a complaint.
1.30pm: Johor - It has been raining heavily in parts of Johor, from Kulai to Batu Pahat along the North-South highway.

Several traffic accidents have occurred in both directions between the Machap and Ayer Hitam exits, causing a massive traffic jam.
1pm: About 58.99 percent of voters had voted nationwide by noon, at 8,245 polling centres. A total of 12,992,661 voters are eligible to vote, the EC has told Bernama.
Selangor had recorded a 58.95 percent turnout or 1.2 million voters up to 1pm.
In Negri Sembilan, the turnout was 58.3 percent of the 555,982 voters up to the same hour.
Malacca, as at noon, recorded 40 percent of 424,519 voters.
In Perak, 30 percent of the 1.36 million voters had voted up to 11am, while the turnout in Pahang stood at 29.44 percent of the total of 736,111 voters.
In Kelantan, it was 13.19 percent of the 918,573 voters up to 11.30am.
In interior areas of Sabah, such as Kampung Mangkasulap, Beluran, as well as in Penampang dan Kudat, polling centres closed at 11am.
1pm: Seremban - It is drizzling in Labu and Seremban 2, but it is not expected to affect voting.
12.15 pm: Seremban - A check of polling centres reveals that many voters have turned out already, with the weather being kind up to now. However, roads are congested around the town.
12.01pm: Kota Kinabalu, Sabah - The scorching sun is apparently keeping voters away from the polling centres around the capital city.
Compared to this morning, queues are hardly seen, except for voting streams 3 and 4 assigned to younger voters.

"We're hoping they'll come out when it gets cooler," one SAPP polling agent says at the Maktab Sabah polling centre in Luyang.

SAPPP estimates that about a quarter of the total voters have turned up at the polling centre.

The heat is also taking its toll on election agents who are taking cover in the shade.

"It's so hot I've had to remove my head scarf!" an Umno polling agent lamented at SMK Sanzac, in the state seat of Tanjong Aru - where PAS candidate Hamid Ismail is attempting to break the party's "extremist" image.
However, in Api-api, closest to the city centre, a 100m-long line of voters has formed outside the SJK (C) Chung Hwa Kampung Air. The line continues into the school compound.

A man who is standing midway in the queue says he has been lining up for 30 minutes.
Api-api is contested by PKR's Christina Liew, BN's Yee Moh Chai and three others.

Liew, who lost to Yee by less than 200 votes in 2008, has continuously urged supporters to come out to vote as an additional 4,000 names have been added to the roll.
Noon: Penang - Given the number of complaints about the 'negligence' of polling clerks in stamping ballot papers, Penang DAP secretary Ng Wei Aik will lodge a formal complaint with the state EC director at 3pm today.
Noon: Air Putih, Penang - Despite all the allegations of vote-buying and that voters have abandoned him, caretaker Chief Minister Lim Guan Eng has been received warmly when making the rounds of Air Putih.

Lim, the DAP secretary-general, is defending the state seat.

Many rushed to greet him and shake his hands, wishing him "Good luck and all the best".

Sporting a white shirt, which is soaked with sweat, Lim assisted the disabled to enter the voting centre at the SRJK (C) Kong Min in Air Itam.
11.50am: Kulai, Johor - Chai Siew Pin, 42, a voter in the Kulai parliamentary seat and Bukit Batu state seat, has found that someone has voted in her name.
She found this out when she arrived at the polling station at SJK(C) Batu about 10am.

"I'm waiting for the agents of political parties to help me. I will fight for my rights," she says.

Chai was later issued a Borang 10A by the EC officer who still did not allow her to vote.

When contacted at 3.10pm, she said: "I still cannot vote. I'm now making police report at Ayer Bemban police station."
"It is totally unacceptable that a simple basic rule of election is not understood by the workers and even the presiding officer of the polling centre."
11.50am: Penang, Pantai Jerejak - PKR's Bayan Baru candidate Sim Tze Tzin says he had received several complaints from voters in Pantai Jerejak that their ballot paper was stained with indelible ink.
"When I checked with the Returning Officer, I was told that if it stains the back of the paper, it is still okay. But if it stains the front where voting is done, then it would be considered as spoilt vote," he says.
Sim, the Pantai Jerejak incumbent, says other issues have cropped up - for example, ballot papers being placed in the wrong box
"The problem has been resolved after talking to the officers concerned," he adds.
11.37am: Segamat, Johor - PKR candidate Chua Jui Meng's election agent says two voters have objected to discrepancies in Chua's name on the ballot paper.

"The main polling station showed us the ballot paper, which states 'Datuk Chua Jui Meng'," says Victor Chu.
"But we are also getting reports that other ballot papers have printed his name as Dr Chua Jui Meng."
A complaint has been lodged with the Returning Officer, as a precaution.
11.30pm: Segamat, Johor - An argument has broken out at SK Bukit Hampar after PKR's Segamat candidate Chua Jui Meng surveyed the polling station and found an Umno member ticking off a name list of those who have voted.

When confronted, the middle-age woman replied: "I'm just sitting here helping out my Umno branch for record."

Chua rebutted: "Umno has no power to check. You cannot do this, it is against the law, you have no authorisation."
The police officer guarding the station said he was unaware that the woman was tracking voters and thought she was only sitting there.

The woman has called her Umno bosses, while the police have also been called in and are on their way.
11.23am: Alor Setar, Kedah - Former premier Dr Mahathir Mohamad and his wife Dr Siti Hasmah Mohd Ali are mobbed by hundreds as they arrive to cast their votes at Sekolah Kebagsaan Titi Gajah, according to the New Straits Times.
They are among 29,056 voters in the Anak Bukit state seat, under the Kuala Kedah parliamentary constituency. 
11am: Bagan constituency, Penang - At the SRK Sungai Nyior, Bagan Dalam, DAP election agent Sim Phoi Yong complains that a voter lost his right to vote because an EC officer marked his finger with indelible ink and then told him that he is not registered as a voter at that station.
"We have reported the case to the Returning Officer, who has taken note of this," says Sim.
11am: Seri Delima constituency, Penang - Two pondok panas - one set up by BN and the other by DAP - are located a few metres outside the voting centre at SMK Hamid Khan.
An Election Commission supervisor, who declined to be named, says that, as long as the pondoks are not in the school compound, it "should be okay".
When met after voting, retiree Kua Chan Peng (left), 57, complained that the voting procedure was messy.
"I had printed out my details from the EC website and, by right, do not need to get the voting slip. I went straight to my stream but they told me, I must have the slip. After I insisted, they let me vote. Some senior citizens may be turned off by this messy procedure."
Retired nurse Jenny Chong,78, says she had to insist on a new ballot paper as the one given to her was "tarnished".
"There was a line drawn on the parliamentary ballot. I debated with the EC representative and finally got a replacement, but I had to wait.
"They told me not to dirty the paper, but I replied that it was already dirtied and that I know how to vote, as I have been doing it since the 1960s."
10.50am: Kedah - Voting is proceeding smoothly in five polling centres in the Ayer Hitam and Kota Siputeh state seats, although the number of voters has increased sizeably since this morning.
PAS' Ayer Hitam candidate Abdul Ghani Ahmad voted at the Ayer Hitam primary school about 8.30am.

At two polling stations, banners have been spotted with a message that voters will reject BN's Ayer Hitam candidate Mukhriz Mahathir.
Another warns Mukhriz and his father Dr Matahir Mohamad not to cause a split in BN Kedah.
10.30am: Mengkibol, Johor - DAP candidate Tan Hon Ping accuses the EC of irregular practices at several polling stations in the state.
For instance, he says a polling clerk at SJK (C)Yun Ming has not stamped the ballot papers  issued to voters, according to observers.
At the polling station in SK Parit Keroma Darat, Muar, the polling clerk is said to have told voters that it is "all right not to stamp" the ballot papers.

At SMK Seri Mersing, a 29-year-old voter has lodged a police report, claiming that his ballot paper was not stamped.

In Mersing, a polling centre has not provided pens or pencils for people to mark their ballot papers.
So they used the indelible ink on their finger to mark the papers.
10.20am: Selayang, Selangor - Although the indelible ink on his finger has 'faded', BN's Selayang parliamentary candidate Donald Lim does not think it is a problem.

"There are two processes in voting - one is the MyKad identification process and the other is to check for ink," he tells reporters after visiting the polling centre in SK Selayang Baru 2.

"It's not easy to bring a fake MyKad ... (Moreover,) both sides have observers to check the name (on the electoral roll)."

Lim had earlier cast his ballot at the Petaling Jaya Selatan constituency.

He remains confident  that Selangor MCA will win half of the seven parliamentary seats and 14 state seats being contested.
"In life we have to aim high ... well, at least this stage, yes (we will win 50 percent)."
10.30am: Beruas, Perak - PAS candidate Dr Khairudin Abd Malek is confident that he can capture Pengkalan Baru for Pakatan Rakyat.

He is banking on young Malay voters who have returned to vote, and have been attending the party's ceramahs.
He also claims that PAS has made a big breakthrough in Malay villages in the constituency
"Although we have some problems reaching the older generation, especially women, they only make up a small percentage of voters. So I think we can make it this time around," he adds.
10am: Port Klang, Selangor - According to a Nanyang Siang Pau SMS alert, some 500 voters are still waiting in the hot sun to vote.
It attributes the delay to 'improper arrangements' at the polling centre in SJK Pandamaran (B).
9.55am, Selangor: PAS' Kota Raja candidate Dr Siti Mariah Mahmud has visited the polling centre at the Impian Sentosa apartments.
She asks voters queuing under the hot sun to be patient.

9.45am: Pandan, Selangor - PKR's Pandan candidate Rafizi Ramli has arrived to inspect the voting process, also taking the opportunity to greet voters at SK Pandan Indah. Some have taken photos with him.

"A lot of people are suing you, so how?" one voter asked.

Rafizi curtly replied: "They sue, we fight lah."

He says that his polling agents have reported that the voting has gone on smoothly so far.

"The biggest issue are some reports of the indelible ink being washed off, which has caused some anxiety among voters," he says.

Accompanying Rafizi is his wife Afizsa Ashah, who will be voting at this polling station.

However, Rafizi himself won't be voting today, saying that he won't be able to vote in Kemaman, Terengganu, and then rush back to Pandan.

9.45am: Beruas, Perak - The PAS pondok panas at SK Beruas is within 50m of the polling station, although this is not allowed by the Election Commission.

The booth is in front of a house, opposite the main gate of the school.

However, a EC staff member says he is unable to do anything as the party has claimed that the booth is on private land, within the area of the house.

He says the EC can only consider that the 50m starts from the polling centre up to the main gate of the school.
9.43pm: Penampang, Sabah - Some voters have managed to remove the indelible ink on their fingers using grass.

One voter, Robert, 50, says he tried to remove it out of curiosity.

Malaysiakini saw the ink removed within minutes by rubbing grass on it.

Star Moyog candidate Bernard Lawrence Solibon is also finding that the ink on his fingers has gone off.

"I didn't even put anything on it. The transfer may cause stains on ballot papers and spoil many votes," he says.
9.40am: Seremban, Negri Sembilan - The voting process has been generally smooth up to now.

But DAP election worker Lawrence Fah, located near Sekolah Wawasan in Seremban 2,  complains that the EC had prevented them from helping voters check their names and voting stream.
9.33am: Pekan, Pahang - Star Online reports that BN head Najib Abdul Razak and his wife Rosmah Mansor have cast their votes at Sekolah Sultan Haji Ahmad Shah.
In Pagoh, Muhyiddin Yassin cast his vote at SM Sri Muar at about 8:20am, according to Berita Harian.
At Lembah Pantai, Umno Wanita chief Shahrizat Abdul Jalil cast her votes at 9.14am, based on her tweet.
Nanyang Siang Pau reports that the DAP's Karpal Singh has voted.
Sin Chew Daily says a female voter in Puchong who smudged her ballot papers with the indelible ink on her finger had asked for replacement ballots - and waited 10 minutes to get these.

9.30am: Bukit Mertajam, Penang - DAP's Bukit Mertajam candidate Steven Sim Chee Keong complains that Election Commission officers are "barring" people from voting unless they show their slips.
"People are compelled to take the slip before being allowed to vote. I was 'forced' to take the slip as well," he says.

"Some folks have been turned off by double queueing. I protested to the Returning Officer and he said he has given orders to stop the (compulsory vetting).
"The EC should not deny ppl to vote by creating unnecessary obstacles."
Sim says that, by creating unnecessary obstacles, the EC is denying Malaysians their constitutional rights under Article 119.

"I urge the people to be patient, do not give up even if forced to queue.

"In 2010, I was invited to be an international observer to the Philippines general election. The people there queued from morning till evening to cast their votes," he says.
"Malaysians, this is our time. The country needs us. Keep calm, persevere."
9.30am: Segamat, Johor - BN's Segamat incumbent and candidate Dr S Subramaniam declines to speculate on the possibility of losing.
He says he wants to remain positive.
"We have done our work in the parliamentary constituency of Segamat and I believe we still have a chance of winning albeit a small majority," he tells journalists after voting.

"Even though the competition is stiff, we've seen some changes with Indian support returning to BN and Malay support remaining solid. This will allow BN to regain more seats compared to 2008."
9.25am: Gelang Patah, Johor - Before leaving the SJK(C) Pu Sze polling station, the DAP's Lim Kit Siang talks to Johor Bahru Utara district police chief Ruslan Hassan over the arrest of a Chinese youth.

According to Ruslan, the police had detected the youth climbing over the wall and jumping into the polling centre.

"We will investigate why he trespassed when the gate is opened ... I don't think he is a registered voter here. We are still checking."

However, a friend of the youth argues that he did not climb over the wall but had entered through the main gate of the school.

Kit Siang and DAP's Skudai candidate Dr Boo Cheng Hau have spoken briefly with the youth. Boo passes him a name card and asks him to call the number on the card for assistance.
9.20am: Batu Caves, Selangor -: Incumbent PKR candidate Amirudin Shari complains the EC has wrongly printed its ballot papers.He says that, on April 20, when nominations were filed, he and another Pakatan Rakyat candidate were placed No 1 on the list, while Independent Suman Gopal was at No 2 and the BN candidate Ravisandran Narayan was at No 3.

When Amirudin (left) checked today, his name is listed at No 2 while Ravindran's is placed at No 1. The Independent is at No 3.
'We will lodge an official complaint with the EC as this is against the Election Regulations 1981 Section 11 (2). This is an election irregularity and will result in confusion to the voters, says Amirudin.
9.17am: St Michael's school, Penampang, Sabah - Voters park their cars a kilometre away to get to this polling centre.

One young man walking next to an elderly woman who has no teeth tells her she need not fear anyone.

"Let people say anything, you just vote for who you want (kau tanda saja X)," he says.

Penampang is being contested by PKR's Ignatius Dorell Leiking, BN's Bernard Dompok and Star's Melanie Annol.

DAP's Dr Edwin Bosi, who is contesting the state seat here, is greeted by handshakes and hugs by some voters.
9.15am: Selayang, Selangor - BN's Taman Templer state candidate Subahan Kamal has cast his vote at the SK Agama Selayang Baru.
"I feel excited. The voters will determine if I've worked hard enough over the last five years," the incumbent tells reporters.
Some 200 voters waiting in line to vote.
9.15am: Pekan parliamentary candidate Datuk Seri Najib Tun Razak andDatin Seri Rosmah Mansor arrive at Sekolah Sains Sultan Haji Ahmad Shah to cast their ballots.

9.12am: SMK Buloh Kasap, Segamat, Johor - BN's Segamat candidate Dr S Subramaniam arrives with his wife.

Journalists have to rush here after Subramaniam's press team has earlier gave them the wrong polling station in another school.
Subramaniam cast his votes 10 minutes later after briefly greeting other voters who are present.
9am: Permatang Pauh, Penang -
Anwar says he is confident of bringing change to the nation if given the mandate.
"There is clearly and undeniably a groundswell, a major shift among the population across ethnic lines. Initially, they said it did not touch the Malay (voter) base but all surveys - even our rallies - have shown a strong, formidable Malay presence.
"There's no reason why we can't garner support to take over Putrajaya."
Anwar said he believes there will be a peaceful transition of power should Pakatan win.
It will have to deal with all kind of problems in the electoral roll, he notes, given the number of complaints about non-Malaysians having been included.
Anwar advises supporters to remain calm after the results are announced and not to respond to any provocation.
He says he is satisfied with the election processs thus far, but that the siuation nationwide will have to be monitored.
Referring to a rumour that Dr Mahathir Mohamad has gone abroad, Anwar says he was told this as well.
"I wish him well (with) whatever medical treatment he is seeking," he says.
Up to last night, Mahathir had been seen campaigning in Kedah.
9am: Permatang Pauh, Penang - Anwar Ibrahim says that, if there is no major fraud or cheating in the election process, both sides should accept the result.
He put his level of confidence at Pakatan winning Putrajaya as "52 percent".
"I'm cautiously optimistic but since Najib had also coined the same term during his interview with Al-Jazerra, I will say we feel comfortable with the situation now."
On alleged vote-buying in Ayer Putih, he says a high turnout would overcome the impact.
"I have met people who received the money but said they will still vote for Pakatan."
Anwar also says Pakatan has a video recording of the last batch of 'phantom' voters who flew from Borneo on a Boeing 747.
8.55am: Gelang Patah, Johor - DAP's Gelang Patah candidate Lim Kit Siang visits SJK(C) Pu Sze at Skudai together with the party's Skudai candidate Dr Boo Cheng Hau.

Many Chinese voters are excited to see him.

"Mr Lim, can I shake your hands?" asks a young female voter.

One voter who does not recognise Lim is introduced to him by Boo.
She appears surprised when photographers surround her.

This is the first of six polling stations that Lim is due to visit today.

"The response was positive, very encouraging, but this is just the first polling centre," he says when asked about his feeling.

Lim himself is not voting in this general election as he is not registered in the Gelang Patah parliamentary constituency.

Boo Cheng Hau, who is wearing a red shirt, tells reporters that this is his lucky colour for the day.
8.45am: Jerlun, Kedah - Mukhriz Mahathir and his wife arrive at the Siputeh primary school to vote, joining about 806 others.
Met by reporters after voting, he seemed bullish about about his chances of win the Ayer Hitam state seat for BN.

"God willing, every move we make must be confident. But don't overdo it. My confidence stems from my realisation that I must do the best I can to garner God's blessings.

"That is where my confidence comes from. The rest I leave to God," he says.

Asked to comment if reports that he will be named Kedah menteri besar if BN wins the state will backfire on him, Mukhriz says he does not feel the announcement will effect him negatively.
"Indeed, based on feedback, a lot of people have been waiting for the announcement, especially the Chinese community who are overjoyed. Before this, they were doubtful," he says.
8.54am: Muar, Johor - A voter at SJK (C) Nanhua by the name of Lee complains that the Election Commission is not following procedures as those who already know their voting channel are required to line up again in the school field to be vetted again.

He said normally voters would go to their respective channels directly, but the double vetting and the time wasted have frustrated many voters.

 

"We are concerned that some people may not be able to go work later today," he says, urging the EC to follow proper procedures. 

8.44am: Permatang Pauh, Penang - Election Commission (EC) officers tries to eject Agence France-Presse (AFP) chief reporter Goh Chai Hin from Sek Keb Sri Penanti as he does not have the EC’s pink oath slip. However, Goh refuses to leave.

"I have got the media pass from both EC and the Information Ministry. I was never told about this,” he says.
Incumbent MP Anwar Ibrahim arrives with his wife, Wan Azizah Wan Ismail, to vote.
Dressed in a white shirt and wearing a songkok, he says Pakatan is optimistic that it will capture Putrajaya.
He expresses his disgust at the open attempts to buy votes in Penang. "It is sickening," he decries.
8.24am: SK Beruas, Beruas, Perak - More than 50 voters are queuing at different classrooms to cast their votes.

Chow Kok June, who works for a multinational company in Singapore, says he has just cast his first vote at Malaysia’s election. Speaking to Malaysiakini, the 28-year-old says he takes pride in fulfilling his responsibility as a citizen.

“I hope there will be some changes,” he says, adding that he will be going back to Singapore tomorrow.

Yiew Sin Keat, 27, is so excited to cast her first vote that she got up early this morning.

“The country needs to change,” she beams. She will be driving back to Kuala Lumpur, where she works, soon to avoid the expected traffic jam along the highway.

Both are voting in the Beruas parliamentary seat and Pengkalan Baru state seat.

Beruas sees a straight fight between Chang Ko Youn (BN) and Ngeh Koo Ham (DAP), while Pengkalan Baru is a three-way battle among Abd Manaf Hashim (BN), Khairuddin Abd Malik (PAS) and Ahmad Nizam Ibrahim (Independent).
8.15am: Seri Delima, Penang: As early as 7.30am, 100 people have gathered at the Chung Hwa voting centre to cast their votes. Old age and disability fail to keep people away from doing their national duty.
DAP secretary-general and caretaker Penang Chief Minister Lim Guan Eng arrives with his wife Betty Chew and his mother, Neo Yok Tee, 73.
Chew wears a white cap to cover her bald head, which she shaved on Friday to protest against vote-buying. Lim looks rather exhausted, probably due to the intense 15-day campaign.
8:06am - Subang Jaya, Selangor: The line at Sek Men USJ12 is about one kilometre long as the gate opens.
About 3,000 voters came early to vote. Malaysiakini sub-editor G Umakanthan says he has never seen such a huge number of people coming out to vote this early.
The state seat falls under the Kelana Jaya parliament seat.8.05am - Lembah Pantai: Long queues are reported at polling stations in this Kuala Lumpur constituency, which sees PKR's Nurul Izzah Anwar defending her seat against a strong challenge from Umno's Raja Nong Chik Zainal Abidin. 
According to a voter, it may take about one hour to vote.

8.03am - SK Pandan Indah, Pandan, Selangor: About 300 people are queuing up at this polling station to cast their vote.

"I want to do my civic duty," said Tan Sew Chai (right), who is first in the queue.

The 47-year-old delivery truck driver says he has waited since 6.30am.

8.01am - SK Buloh Kasap, Segamat: Some 40 voters, who had been waiting outside the school as early as 7.30am, are allowed into the polling station.

BN's Segamat candidate S Subramaniam, who is also caretaker human resource minister, is expected to vote here later after completing his morning prayers at Sri Thandayuthabaani temple.

His rival PKR's Chua Jui Meng, who was fielded in Segamat at the eleventh hour, was not able to change his address and will not be voting in this constituency.
8am - Kuala Lumpur: The Malaysian Meteorological Department has forecast that there will be no rain in the morning today in most states while some will have overcast skies.
   
The states are Perlis, Kedah, Kelantan, Terengganu, Penang, Selangor, Negeri Sembilan, Malacca and the Federal Territories.
   
However, there will be rain in the morning in some areas in Perak, Pahang, Sabah and Sarawak.
   
"This weather forecast is only a guideline for voters. They are encouraged to come out early to vote as some areas will experience rain and thunderstorm in the evening," said the department.
8am - Kuala Lumpur: The skies are forecast to be clear across Malaysia this morning, as the country heads to the polls for the 13th time to elect a new government.

The 15-day campaign period ended midnight yesterday, and today will see Malaysian voters make their mark, both on their ballots as well as the annals of history, in what is seen to be Malaysia's most closely fought and hotly contested general election, as BN struggles to hold on to power with Pakatan Rakyat snapping at its heels.

Some have dubbed this, "The mother of all electoral battles".

A total of 222 parliamentary seats and 505 state assembly seats are on the block, most in straight fights between the two major coalitions, though 270 independents, the largest ever in history, are also looking to make their mark.

However, Sarawak's 71-seat state assembly will not be holding its polls as it has already done so in 2011.

The atmosphere this morning is electric as supporters decked out in party colours throng the streets for a last-minute show of strength as voters trek to the polling stations on this day of days.
7.45am: Kuala Lumpur - Polls will open at 8am today as Malaysia decides between BN and Pakatan Rakyat on which coalition will rule the country for the next five years.
Voters are urged to vote early as showers and thunderstorms are expected in many parts of the country in the afternoon. Polling will end at 5pm and the counting of votes will begin soon after. Results will start coming in at around 8pm.

There are 222 parliamentary seats up for grabs, with the ruling BN currently holding 135 seats, Pakatan Rakyat, 75, and the other 12 going to independents and three other parties. Whichever coalition that wins 112 seats will claim power.

Meanwhile, Pakatan controls four states - Selangor, Penang, Kelantan and Kedah, while BN has nine under its belt.

This election will see a huge number of new voters - an increase of three million, or about 25 percent, since the 2008 GE, making it the biggest spike in Malaysia’s history.

'Someone has stolen my right to vote'

1:01PM May 5, 2013

Several voters in Kulai and Klang have claimed that they cannot vote as some other people have done so  in their names.

They are lodging complaints with the Election Commission (EC).

In Kulai, Chai Siew Pin, 42, arrived at the SJK(C) Batu polling station  at about 10am and found that her name had already been used.

“I am waiting for the agents of political parties to help me. I will fight for my rights," Chai said.

Chai was later issued a Borang 10A by the EC officer who still did not allow her to vote.

When contacted at 3.10pm, she said: "I still cannot vote. I'm now making police report at Ayer Bemban police station."

Kulai DAP candidate Teo Nie Ching (right) said she has received five to six similar complaints and that the voters are waiting for her at her service centre.
Teo, the incumbent Serdang MP, said Liew Ah Moy went to SMK Kulai Besar at 10.30am, but that EC officers told her that she ‘has already voted’.

“When I checked Liew's fingers, there was no indelible ink mark,” Teo tweeted.
Liew (right), 70, has voted many times before and was shocked to find that she cannot vote today.
Eventually, Liew did not get to cast her ballot as the EC officer did not issue her with a Form 10A, which is issued when there is a dispute over identity, saying she would not be able to read the document even if she were given one.

Teo said another voter Chu Moi Moi, 74, was also not allowed to vote at SMK Kulai Besar, as the personnel on duty there claimed that she had already voted earlier.

The DAP candidate also said another voter Chong Mui Yoong, 52, was not allowed to vote at SMK Sultan Ibrahim as the EC also alleged that she had already voted earlier.

Teo said she has noted all the complaints including Liew’s and Chai’s.

She also claimed that the EC officer in SMK Kulai Besar told her that the polling station would be closed at 5pm sharp even if there are still some voters queuing, as those voters did not come early in the morning.

"The polling station has seen long queues of voters since this morning," said Teo.

In Klang, PKR’s Dr Xavier Jeyakumar tweeted that two voters have protested because others had voted in their names.

“Use Form 11 and allow the genuine voter to vote,” Xavier tweeted.

50 Signs That We’re Due For A Major Crash

This indicator is suggesting slower economy and lower stock prices

Lumber prices over the past 25 years have been a quality leading indicator for the future direction of the economy and the stock market, in both directions.
Back in March, the Power of the Pattern pointed out that Lumber was at the top of a 25-year channel (formed a bearish rising wedge), where 50% declines in Lumber often happen in the past…. which was followed by a slowing economy and lower stock prices.  (see post here)

CLICK ON CHART TO ENLARGE
This trend/pattern has only happened for the past 25 years!!! 

Doc Copper bullish sentiment plunges… Critical price point for Copper & Crude Oil!!!

CLICK ON CHART TO ENLARGE
Speaking of Dogs, Copper comes to mind over the past two years as Copper has lost 25% of its value.  The decline of late has few people liking Copper as bullish sentiment has plunged. (see inset chart).
I believe Copper is a quality barometer for the global economy, especially the Emerging markets/China story.  Copper is on a three-year support line that needs to hold!  With Copper on support and sentiment so low, a short-term rally should not be a surprise!

Global Slowdown – 70% Of China’s Export Partners Saw Orders Plunge

Growth in China exports to its Top 20 trading partners…


Source: Bloomberg Briefs
We discussed previously the slowing of the global economy and the drag on global trade and it appears that despite some hope-ridden headline data from China, things are definitely troubling under the surface. As Bloomberg Brief’s Michael McDonough notes, while superficially, export growth was a rare bright spot in the first quarter, it may have been exaggerated by exporters inflating invoices. Excluding exports to Hong Kong, March’s export growth would have fallen 4.8 percent year-on-year compared with the reported 10 percent. China’s exports to 14 of its top 20 trading partners declined in March year-on-year. Tepid global demand may continue to weigh on China’s exports and domestic economy – and in its vicious cycle manner, feed back into global growth (and stain the US ‘clean’ shirt).

Dark side to jobs report: Big drop in hours worked - Shorter work week equivalent to 500,000 jobs lost

MarketWatch

Hours worked in April fell 0.4%, equivalent to the loss of more than 500,000 jobs.

Think of it this way: If companies had hired all 12 million unemployed people in April, but had cut everyone’s hours in half, the unemployment rate would have fallen to zero, but we’d be much worse off. Our paychecks would be much smaller, and the economy would contract violently.

In April, companies hired 165,000 more workers, but they cut everyone’s hours (on average) by 12 minutes. That doesn’t sound like much of a decline, but spread out over the 135 million-strong work force, the decline in hours worked is the equivalent of firing more than 500,000 workers while keeping hours steady.

….

Too Much Debt And Too Little Savings Continue To Be The Major Problems

It has long been our underlying thesis that the huge amount of household debt accumulated during the housing boom would inhibit consumer spending and economic growth for some time to come, and this is what has been happening over the last few years.  The errors recently found in the famous Rogoff-Reinhart (RR) book do not change this view.
Simply put, household debt averaged 77% of disposable personal income (DPI) over the 61-year period since 1952.  It crossed over the average line in 1985 and took a sharp upward turn in 2000, eventually peaking at 130% of DPI in 2007.  Since that time, consumers have reduced their debt to a level that is now 105% of DPI, still significantly higher than in the past.  The result has been a significant slowdown and tepid recovery in consumer spending growth, a process that is far from finished.
The role of household savings is a key element in analyzing both debt and spending.  For 41 years between 1951 and 1992 household savings rates as a percent of disposable income were consistently between 7% and 11%.  However, as income growth started to slow down, consumers increasingly maintained their old spending habits by going into more debt and reducing their savings rate.  This reached an extreme during the prior decade, when the savings rate stayed below 2% from 2005 through 2007, while debt soared.  We all know how that ended….

CONFIRMED: GLOBAL ECONOMY IS COMING TO A SCREECHING HALT

The magic number for the PMI is 50. A reading of 50 or higher generally indicates that the economy is expanding.
Manufacturers Around The World Slowed Down In April
April 29, April 30 (All Times EDT)

• 7:15 p.m. Japan: Markit/JMMA Manufacturing PMI — 51.0, up from 50.4 in March
• 1:00 a.m. Russia: HSBC Manufacturing PMI — 50.6, down from 50.8

April 30, May 1

• 8:00 p.m. Australia: AiG Manufacturing PMI —36.7, down from 44.4
• 9:00 p.m. China: NBS Official PMI—50.6, down from 50.9
• 11:00 p.m. Indonesia: HSBC Manufacturing PMI — 51.7, up from 51.3
• 2:00 a.m. Ireland: NCB Manufacturing PMI — 48.0, down from 48.6
• 3:00 a.m. Netherlands: NEVI Manufacturing PMI — 48.2, up from 48.0
• 4:30 a.m. UK: Markit / CIPS Manufacturing PMI— 49.8, up from 48.6
• 9:00 a.m. US: Markit Manufacturing PMI — 52.1, down from 54.6
• 9:30 a.m. Canada: RBC Manufacturing PMI — 50.1, up from 49.3
• 10:00 a.m. US: ISM Manufacturing — 50.7, down from 51.3

May 1, May 2

• 8:00 p.m. South Korea: HSBC Manufacturing PMI — 52.6, up from 52.0
• 9:45 p.m. China: HSBC Manufacturing PMI — 50.4, down from 51.6
• 10:00 p.m. Taiwan: HSBC Manufacturing PMI —50.7, down from 51.2
• 10:00 p.m. Vietnam: HSBC Manufacturing PMI — 51.0, up from 50.8
• 1:00 a.m. India: HSBC Manufacturing PMI — 51.0, down from 52.0
• 3:00 a.m. Turkey: HSBC Manufacturing PMI — 51.3, down from 52.3
• 3:00 a.m. Poland: HSBC Manufacturing PMI — 46.9, down from 48.0
• 3:15 a.m. Spain: Markit Manufacturing PMI — 44.7, up from from 44.2
• 3:45 a.m. Italy: Markit/ADACI Manufacturing PMI — 45.5, up from from 44.5
• 3:50 a.m. France: Markit Manufacturing PMI — 44.4, up from 43.8
• 3:55 a.m. Germany: Markit/BME Manufacturing PMI — 48.1, down from 49.0
• 4:00 a.m. Greece: Markit Manufacturing PMI — 45.0, up from 42.1
• 4:00 a.m. Eurozone: Markit Manufacturing PMI — 46.7, down from 46.8
• 9:00 a.m. Brazil: HSBC Manufacturing PMI — 50.8, down from 51.8
• 10:30 a.m. Mexico: HSBC Manufacturing PMI — 51.7, down from 52.2
• 11:00 a.m. Global: JPMorgan Manufacturing PMI — 50.5, down from 51.5

…

Margin debt hitting levels only seen ONE other time in history!

Some times in history, investors feel so confident about the future of stocks, they actually use up all their available cash and then borrow money to invest in the stock market.  Now is one of those times!!!
The chart below was created by Doug Short, see his outstanding work here.

CLICK ON CHART TO ENLARGE
Positive net worth takes place when.….Investors have little money borrowed and plenty of cash in their brokerage accounts.  (2003 & 2009)
Negative net worth takes place when.…Investors have large amounts of money borrowed (on margin) and little cash in there brokerage accounts. (2000, 2007, 2011 & now)

The Worse The Numbers, The Greater The Misses, The HIGHER The Markets Will Rally!!!

The worse the data, the more parabolic the move. This is great news. Let’s all hope for a negative non-farm payroll on Friday. That could push the dow to 16,000 by Monday.
Here’s The Great Disconnect That Has People Saying The Market Is Rigged By The Fed

Business Insider/Matthew Boesler, data from Bloomberg

HALF of all Americans over 14 ate at McDonald’s in March

Staggering figure despite a reported one percent sales drop in first quarter of 2013
The numbers are out for 2013 and the verdict is in: More people make purchases under the golden arches than anywhere else.
McDonald’s beat out such behemoth’s as Wal-Mart, Walgreen’s, and Target to stake its claim as the country’s most visited retail business.
And the numbers behind it are staggering. In March, 49 percent of Americans over 14 years old ate at McDonald’s.

22 Facts That Prove That The Bottom 90 Percent Of America Is Systematically Getting Poorer

#1 According to the Pew Research Center, the top 7 percent of all U.S. households own 63 percent of all the wealth in the country.
#2 Between 2009 and 2011, the wealth of the bottom 93 percent of all Americans declined by 4 percent, while the wealth of the top 7 percent of all Americans increased by 28 percent.
#3 On average, households in the top 7 percent have 24 times as much wealth as households in the bottom 93 percent.
#4 In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.
#5 According to the Economic Policy Institute, the wealthiest one percent of all American households have 288 times the amount of wealth that the average middle class American family does on average.
#6 According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.
#7 The six heirs of Wal-Mart founder Sam Walton have as much wealth as the bottom one-third of all Americans combined.
#8 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.
#9 In the United States today, corporate profits as a percentage of GDP are at an all-time high, but wages as a percentage of GDP are at an all-time low.
#10 In 1980, CEOs at S&P 500 companies made 42 times as much as their employees did on average.  Today, CEOs at S&P 500 companies make 354 times as much as their employees do on average.  In fact, there are many CEOs that make more than 1000 times what the average employees in their companies make.
#11 According to a report recently issued by the Pew Research Center, Americans over the age of 65 have 47 times as much wealth as Americans under the age of 35 on average.
#12 U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.
#13 Back in 2007, about 28 percent of all working families were considered to be among “the working poor”.  Today, that number is up to32 percent even though our politicians tell us that the economy is supposedly recovering.
#14 At this point, one out of every four American workers has a job that pays $10 an hour or less.
#15 Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
#16 The U.S. economy continues to trade good paying jobs for low paying jobs.  60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.
#17 As I mentioned yesterday, the homeownership rate in America is now at its lowest level in nearly 18 years.
#18 The United States now ranks 93rd in the world in income inequality.
#19 Approximately one out of every five households in the United States is now on food stamps.
#20 The number of Americans on food stamps has grown from 17 million in the year 2000 to more than 47 million today.
#21 According to the U.S. Census Bureau, more than 146 million Americans are either “poor” or “low income”.
#22 At this point, the poorest 50 percent of all Americans collectively own just 2.5% of all the wealth in the United States.

20 Signs That The Next Great Economic Depression Has Already Started In Europe - it just hasn’t reached the United States yet.

#1 The unemployment rate in France has surged to 10.6 percent, and the number of jobless claims in that country recently set a new all-time record.
#2 Unemployment in the eurozone as a whole is sitting at an all-time record of 12 percent.
#3 Two years ago, Portugal’s unemployment rate was about 12 percent.  Today, it is about 17 percent.
#4 The unemployment rate in Spain has set a new all-time record of 27 percent.  Even during the Great Depression of the 1930s the United States never had unemployment that high.
#5 The unemployment rate among those under the age of 25 in Spain is an astounding 57.2 percent.
#6 The unemployment rate in Greece has set a new all-time record of27.2 percent.  Even during the Great Depression of the 1930s the United States never had unemployment that high.
#7 The unemployment rate among those under the age of 25 in Greece is a whopping 59.3 percent.
#8 French car sales in March were 16 percent lower than they were one year earlier.
#9 German car sales in March were 17 percent lower than they were one year earlier.
#10 In the Netherlands, consumer debt is now up to about 250 percent of available income.
#11 Industrial production in Italy has fallen by an astounding 25 percent over the past five years.
#12 The number of Spanish firms filing for bankruptcy is 45 percenthigher than it was a year ago.
#13 Since 2007, the value of non-performing loans in Europe has increased by 150 percent.
#14 Bank withdrawals in Cyprus during the month of March were double what they were in February even though the banks were closed for half the month.
#15 Due to an absolutely crippling housing crash, there are approximately 3 million vacant homes in Spain today.
#16 Things have gotten so bad in Spain that entire apartment buildings are being overwhelmed by squatters…

A 285-unit apartment complex in Parla, less than half an hour’s drive from Madrid, should be an ideal target for investors seeking cheap property in Spain. Unfortunately, two thirds of the building generates zero revenue because it’s overrun by squatters.
“This is happening all over the country,” said Jose Maria Fraile, the town’s mayor, who estimates only 100 apartments in the block built for the council have rental contracts, and not all of those tenants are paying either. “People lost their jobs, they can’t pay mortgages or rent so they lost their homes and this has produced a tide of squatters.”

#17 As I wrote about the other day, child hunger has become so rampant in Greece that teachers are reporting that hungry children are begging their classmates for food.
#18 The debt to GDP ratio in Italy is now up to 136 percent.
#19 25 percent of all banking assets in the UK are in banks that are leveraged at least 40 to 1.
#20 German banking giant Deutsche Bank has more than 55 trillion euros (which is more than 72 trillion dollars) of exposure to derivatives.  But the GDP of Germany for an entire year is only about 2.7 trillion euros.
Yes, U.S. stocks have been doing great so far this year, but the truth is that the stock market has become completely and totally divorced from economic reality.  When it does catch up with the economic fundamentals, it will probably happen very rapidly like we saw back in 2008.
Our politicians can try to kick the can down the road for as long as they can, but at some point the consequences of our foolish decisions will hunt us down and overtake us.  The following is what Peter Schiff had to say about this coming crisis the other day…

The Percentage Of Self-Employed Americans Is At A Record Low

The other day I came across the following two charts in an article by Charles Hugh Smith, and I was absolutely stunned by what I saw.  This first chart shows that the number of unincorporated self-employed Americans has dropped back to levels that we have not seen since the mid-1980s even though our population has increased by tens of millions of people since that time…

As you can see, from 1970 to the mid-1990s the number of unincorporated self-employed Americans rose steadily.  But in the mid-1990s it began to level off and now it is falling rapidly.
This next chart shows the percentage of self-employed Americans as a share of non-farm employment.  In other words, those that work on farms are excluded from this chart.  The percentage of self-employed Americans was fairly stable between 1970 and 1990, but since 1990 it has been steadily eroding and it has now reached a level never seen before…

Seth Klarman: “If The Economy Is So Fragile That Government Can’t Allow Failure Then We Are Indeed Close To Collapse”

From Seth Klarman of Baupost:
Is it possible that the average citizen understands our country’s fiscal situation better than many of our politicians or prominent economists?
Most people seem to viscerally recognize that the absence of an immediate crisis does not mean we will not eventually face one. They are wary of believing promises by those who failed to predict previous crises in housing and in highly leveraged financial institutions.
They regard with skepticism those who don’t accept that we have a debt problem, or insist that inflation will remain under control. (Indeed, they know inflation is not well under control, for they know how far the purchasing power of a dollar has dropped when they go to the supermarket or service station.)
They are pretty sure they are not getting reasonable value from the taxes they pay.
When an economist tells them that growing the nation’s debt over the past 12 years from $6 trillion to $16 trillion is not a problem, and that doubling it again will still not be a problem, this simply does not compute. They know the trajectory we are on.
When politicians claim that this tax increase or that spending cut will generate trillions over the next decade, they are properly skeptical over whether anyone can truly know what will happen next year, let alone a decade or more from now.
They are wary of grand bargains that kick in years down the road, knowing that the failure to make hard decisions is how we got into today’s mess. They remember that one of the basic principles of economics is scarcity, which is a powerful force in their own lives.
They know that a society’s wealth is not unlimited, and that if the economy is so fragile that the government cannot allow failure, then we are indeed close to collapse. For if you must rescue everything, then ultimately you will be able to rescue nothing.
…

U.S. May Charge JPMorgan For Power Market Manipulation: Analysts

(Reuters) - The regulator of U.S. power markets appears likely to pursue manipulation charges against JPMorgan Chase & Co , analysts said, after a New York Times report on the agency's document that seemed to lay out its case.
The Times said on Friday it reviewed a confidential, 70-page government document that the U.S. Federal Energy Regulatory Commission (FERC) sent to JPMorgan in March, which alleged the bank manipulated the power market in California and Michigan in 2010 and 2011.
FERC investigators found JPMorgan devised "manipulative schemes" that transformed "money-losing power plants into powerful profit centers," the Times reported, citing the document. It said the bank has until mid-May to respond.
It has been clear since last summer that FERC was pursuing a deep enquiry on JPMorgan's trading activities, the latest in a string of FERC investigations that have rattled the U.S. power market and - in the case of rival bank Barclays Plc - concluded with $470 million in proposed penalties.
FERC has not moved to publicly charge JPMorgan, but experts said that now seemed likely.
"FERC staff would not have gone to the trouble of putting together a 70-page document without a case. If they have gotten this far they will likely pursue it," said Susan Court, a former senior lawyer at FERC who is principal of SJC Energy Consultants LLC in Arlington, Virginia.
The document also criticized Blythe Masters, JPMorgan's head of global commodities and former chief financial officer, saying she "falsely" denied under oath that she was aware of schemes carried out by a group of energy traders in Houston, according to the Times.

"We strongly dispute that Blythe Masters or any employee lied or acted inappropriately in this matter," JPMorgan spokeswoman Jennifer Zuccarelli said. "We intend to vigorously defend the firm and the employees in this matter."
YEAR-LONG SAGA
The document cited by the Times came after a months-long inquiry into the bank's trading in power markets, one of several high-profile investigations since FERC's enforcement powers were expanded in 2005 following the Enron scandal a decade ago.
"We cannot, and do not, speculate as to any investigations, as they are all non-public. We do not speculate as to whether investigations are taking place, nor do we speculate as to whether or when the Commission will take any action," FERC spokeswoman Mary O'Driscoll said.
FERC last summer subpoenaed JPMorgan to produce 25 internal emails - some between Blythe Masters and the bank's head of principal commodity investments Francis Dunleavy - as part an ongoing investigation focused on bidding practices that may have raised electricity prices by about $73 million in California and the Midwest power markets.
FERC normally does not disclose investigations but chose to subpoena JPMorgan after the bank claimed the emails were protected by attorney client privilege. A federal magistrate in November sided with JPMorgan and ruled that FERC could not see the emails. FERC appealed that decision in January.
TRADING BAN 'NO BIG DEAL'
In November, FERC imposed a temporary ban on JPMorgan's ability to trade physical power at market-based rates for six months, starting in April, for failing to disclose information to the FERC and the California ISO in a market manipulation investigation.
In December, JPMorgan Chief Executive Jamie Dimon said the trading ban is "not that big a deal" for the bank.
FERC Commissioner Cheryl LaFleur dissented in that November vote, saying the agency should include penalties for any failure to disclose information as part of the market manipulation case if the agency decided to pursue it.
In order to pursue a penalty or disgorgement of profits, FERC staff typically issues a public show-cause order, which has not yet occurred in the JPMorgan case.
"A lot of the letters that FERC sends out are trying to get at facts. And the tone of this (letter) sounds a little different ... a little bit more sharp," said Marc Spitzer, a partner at the law firm of Steptoe & Johnson in Washington, and a former FERC Commissioner.
HUNTER IMPLICATIONS?
One open question at this point is to what extent FERC's cases may be weakened by a ruling in March on a case related to Brian Hunter, a natural gas trader for the now closed Amaranth Advisors hedge fund, who was fined $30 million by FERC for alleged manipulation of gas prices in 2006.
A federal appeals court ruled that FERC acted outside of its mandate in imposing the fine because the U.S. Commodities Futures Trading Commission (CFTC) has jurisdiction over financial derivatives trading.
FERC has jurisdiction over physical power and natural gas trading, but several of its recent cases - including the one against Barclays - hinge on demonstrating that traders may have manipulated physical prices in order to profit on derivatives.
Barclays has disputed the FERC allegations and said it will defend itself in court if FERC issues a final order seeking to impose the fine. To date, FERC has not issued a final order.
"We need more information about the JPMorgan and Barclays cases to know whether there are Hunter questions. I am confident law firms with manipulation cases at FERC are pursuing that question," Court, of SJC Energy Consultants, said.
(Additional reporting by David Henry and Cezary Podkul in New York and David Sheppard in London; Editing by Nick Zieminski, Jeffrey Benkoe and Richard Chang)