Panic button on Malaysia economy

The panic button has to be pressed by now. Currently, Malaysia economy is on “Auto-pilot”. Where are the pilots to lead the plane? Are we planning a free fall economy? Do we want to see Malaysian Ringgit become like Zimbabwe Dollar? On 16 July 2008, the official inflation rate was reported by Zimbabwe’s central bank as 2.2 million percent.

One must wonder who is the “Auto-PILOT”? They are the private sectors. Private sectors are the one who drive the Malaysia economy at the moment since our FDI is low. Recently, the central bank decided not to raise the interest rate so that encourage the public to spend. This is to sustain the private sectors growth. The public had in fact over spend. How many Malaysians when you ask on the streets who do not owned huge credit cards debts?

Is this the sign that the “Auto-pilot” is reaching it retirement soon? If this really happen, more Malaysians will fall below the poverty line.

                     Percentage of population living on under US Dollar 1 per day

5% or 1,350,000 of Malaysians are still living in poverty. Malaysians urgently need capable pilots to steer our economy into greater heights again.

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