CUTTING THE NOSE TO SPITE THE FACE

Posted: December 17, 2016 in 1MDB, Financial Crisis, Malaysia, Malaysia Foreign Reserve, Malaysian Economics
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“Cutting off the nose to spite the face” is an expression used to describe a needlessly self-destructive over-reaction to a problem: “Don’t cut off your nose to spite your face” is a warning against acting out of pique, or against pursuing revenge in a way that would damage oneself more than the object of one’s anger.

The phrase is known to have been used in the 12th century. It may be associated with the numerous legends of pious women disfiguring themselves in order to protect their virginity.

It was not uncommon in the Middle Ages for a person to cut off the nose of another for various reasons, including punishment from the state, or as an act of revenge. Cognitive scientist Steven Pinker notes that the phrase may have originated from this practice, as at this time “cutting off someone’s nose was the prototypical act of spite.”

The expression has since become a blanket term for (often unwise) self-destructive actions motivated purely by anger or desire for revenge. For example, if a man was angered by his wife, he might burn down their house to punish her; however, burning down her house would also mean burning down his, along with all of their

The Embargo Act of 1807, passed by the United States Congress in protest against British and French interference in U.S. shipping. The Act had the side-effect of prohibiting nearly all U.S. exports and most imports, greatly disrupting the U.S. economy.”

Now course we have this 1MDB fiasco at a time when a dipping growth rate and drop in value of the Ringgit was holding out hopes of revival.

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