Confidence crisis

This years merdeka celebration has come and go without much fanfare. Many feels that this has probably been one of the worst merdeka celebration in recent times. In contrast to last years extravagant and lavish celebration, this year has been really quiet.

It was almost as if that the whole malaysian nation has decided to cooperate in not putting up as many jalur gemilang as possible, and none of those ridiculous "kek jalur gemilang terpanjang didunia" attempts as well.

On the one hand, it is a positive thing that we encourage a less lavish merdeka celebration, for it is a after all a remembrance of those who has sacrificed for the indepence of this nation.

Nevertheless, it is almost a general consensus that there is a feeling amongst many malaysians, a feeling of despair, a feeling of uncertainty, and a feeling of dissatisfaction towards a many things which has happened and still happening in this country.

Politics, and the economy.

I think I'm tired of commenting on the political state of this country.

But it is a worrying concern to me though, that each day, the economic situation in this country seems to get worse.

I thought the budget was quite good.certainly more goodies than last year albeit the fact that borneo received a whole chunk of it, but really, they deserve it after being ignored for a long long time now.

It is a concern though that again, this is a deficit budget.that means we are spending more than what we are earning.

Its like using the american express lah, no money also can budget to spend.

The vistage-mier ceo confidence index showed that the confidence index in the country amongst its top corporate people are at the lowest ever. It is even 41 points lower than it was at the same time last year.

It has identified the following items as upcoming challenges:

1. Current and expected economic conditions to worsen

2.Lower revenue and lower growth expectations

3.Higher oil prices

4. Political uncertainty

5. Dissatisfaction with broadband service

6. Efficiency of public service

7. Rising living cost

I think we are now living in a very challenging period. interest rate being capped at the current level, will only leave us all guessing, at what point really is the inflation now. The official figure was something like 6 percent or something, but then again we are such a protected/subsidized economy that it is almost impossible to really identify how inflated the economy is at the moment.

A report by a foreign research house says that malaysia will face a recession by 3rd quarter next year, and it may be worse than 1997.

I guess the cycle is back at the bottom now.

Hang on to your seats.fasten the seatbelts!






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