Malaysian Economy

The sky is the limit? It seems that the soaring prices 0f global crude oil price don't have a limit. Just a couple of years ago it was just around USD30 per barrel, now it is lingering at USD130 per barrel a difference of USD100 per barrel. How high will it go?

The economic cycle this time around is much more extreme than the Asian Financial Crisis, 10 years ago - human greed was being alleged as the main culprit. But this time around, all element of disaster, nature and human greed is taking part to create havoc. Started with the US sub-prime crisis, followed by collapse of several Financial giants, series of interest rates reduction, weakening dollars...

At the same time the crude oil prices increased, blaming on demands from emerging nations like China and India, but why so sudden increase. Speculation was also to be blame, greed for higher prices prompted traders to put price higher even though OPEC had increase their production.

Now, several disasters are wrecking several major food producing countries. Flood, drought, earthquake, cyclone, all the nature elements are destroying paddy fields, soy bean, poultries etc. Thus demand for oil also increase due to these phenomenon. Food are getting expensive and several countries is already facing food crisis. Philippines had shortage of rice, China earthquake affected high percentages of their population, Laos and Vietnam's paddy field submerged in flood water.

Inflation is imminent to the global economy, but Malaysia has been recording a very low inflation statistics, it is about time we look at our calculation and our subsidy policies. Are Malaysian to be spoon fed for the rest of our lives? Malaysian has been living in an unrealistic scenarios for a very long time, our economy figures did not really shows the true picture of our current situation. And for the rest our live, we have been sweetened by subsidies and rosy statistics - shows that our population and our nation are doing well.

So what are the implication; complacency. We always thought that we are rich with natural resources and will always survive, but the question is what have we done to ensure our survival. Nothing.

Look at Singapore, they don't have the natural resources, but they had the will to survive by taking advantage of the industries where the neighboring countries neglected. Their bio-technology research are more advance than ours, while we have all the resources like palm oil, rubber, petroleum etc.

Are we still going to cry due to the higher fuel price, something should be done. I am not going to recommend taking public transport, cos Malaysia's public transport really sucks! Roads and transport infrastuctures are haywired. Not enough parking at Monorails, LRT & Komuter stations. Security? Very doubtful. Then these facilities is not extended to some areas, especially the areas where high number of lower income group dwells.

Even in the heart of KL, parking is very scarce, even open air parking are charging as high as RM15-20 per day.

Did the government really understand the rakyat, the People are now well educated, we are no longer in the era of our forefathers where they are easily deceived. That is the reason why BN lose rakyat support. Ignorance & arrogance is not a nice word but I can't think of any better words...