Posted by: tathsing | October 8, 2008

WORLD ECONOMY AND MALAYSIA

Malaysia today holds it breathe waiting for the announcement of Prime Minister Datuk Seri Abdullah Ahmad Badawi’s stand in the coming UMNO’s Congress to be held in March 2009. He has arrived at the Supreme Council meeting of the Barisan Nasional at 3.36pm.

According to the Malaysiakini report, Pak Lah is expected to announce his ‘stepping down’ date after the BN Supreme Council meeting.

Among the coffeshop talk are also the court case of blogger Raja Petra Kamarudin’s sedition charge and Datuk Seri Anwar Ibrahim’s sodomy charge. With all these something somehow was not right.

Yes, our Malaysia economy. While the whole world is facing a financial crisis with bailout by the U.S. Government and even Japan had to prep up their economy, our Malaysia economy seems to be smooth sailing. Are we the only country to be above the water level while the rest seems to be using snorkelling gear to ride out their economy conditions?

I am not an economist but my friend who is a young entrepreneur Donald Stephens had this to say;
“The past weeks have shown the meltdown in major world economy. First with the U.S. with the bailout of AIG and the apporval of US$700 Billion to bailout the U.S. economy. Then Europe economy started struggling with Banks bailout in major economies superpower such as Germany and United Kingdom.”

The past president of Junior Chamber International Malaysia Donald also added, “This has affected the Asia Pacific stock markets with confidence low in trading and cost leveraging. We are talking about Japan, China, Korea are leading in the economy meltdown.”

Now, Donald has put it nicely. What is scary for a economically blur person like me, is the eerie silence by the Malaysian press and our national leaders! Instead of the distraction of the parties elections of UMNO and MCA, ISA and others, are Malaysia ready for the DEPRESSION if World Economy get worse?

My dear PM to be designated cum DPM cum Finance Minister, what is the plan of action? Take action only when the Economy Tsunami hits? Temporary sweep the current nation’s economy problems under the expensive carpet?

Sigh……..Tun Mahathir doesn’t look so bad after all. I am beginning to miss him because during his time, my house, car, electricity, water, household and home living were all affordable then…………


Responses

  1. Previously UMNO leaders said don’t pressure PM to step down but i think PM still kena pressure to step down secara terhormat… so, pressure or not pressure??? i think still pressure… haha!

  2. “Black Mondays used to be a once-a-decade event – now they’re coming along more regularly than a London bus” declared one senior London trader as the UK stock market suffered the biggest one day points fall on record.
    CASINO CAPITALISM’S CRISIS CONTINUES:–>
    http://asocialistmalaysia.blogspot.com/2008/10/economy-casino-capitalisms-crisis.html


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