The inevitable.

Alright, I may have mislead you to think that this would be an emo post. Right, I apologize. Now, getting to the point, in the year 1997, the global economy experienced a meltdown which caused many jobs to be axed and purchasing power to dip way below a comfortable point. Now, economic analysts say that (to be fair, I’m not quoting exactly anyone, sorry I’m too lazy to find references) every 10 years, an economic recession would take place after it’s boom.

However, ten years later, 2007 nothing of sorts happened. Now we forward to today. The 23rd of December year 2008, we have yet to experience the recession. It’s only a matter of time before the recession hits, and because it has delayed for 2 years, it will hit harder and faster than before (excuse the cliché)

Now put some thought into it, are we, Malaysia, ready to face the recession? Quite frankly, I haven’t been actively keeping up with the local news, my bad on that with no excuses, but with my already limited knowledge, I have a strong feeling that Malaysia, will be pushed to the limits of its economic strength.
Back in 1997, when Tun Dr Mahathir was leading the nation as prime minister, the Ringgit was packed, therefore, we didn’t suffer as badly as many other nations.

Under the leadership of Datuk Seri Abdullah Ahmad Badawi, the Malaysian Ringgit was unpacked for several positive economic reasons. The impending recession will now probably drown the Ringgit at it’s most vulnerable stage, but times have changed, and with some luck and blessing, I really pray that the Malaysian economy will be able to withstand the crushing force which is to come.

~ by sean392 on December 23, 2008.