Remember 1997? The year the economic boom hits yet again(If memory serves me well, the 1st one happened around the year 1980s')? And now the year 2008? Where experts and analysts everywhere has been forecasting the impeding crisis and has warned almost everyone to prepare for it? I mean, if the spiraling oil prices aren't any indication of something big yet to come, I don't know what is.
According to some people, this economic crisis that will soon come to your doorsteps and mine is all due to the fact that banks loans money to some people who can't afford to pay. And why do the banks do such a stupid thing? I don't know. Heck, this piece of information might even be wrong. But you don't give loans to people who can't pay you back. Its just common sense. So why did those people need loans? To buy and grab lands when you can, obviously. Prices are spiraling out of control, and the mindset out there is, "If you don't buy now, when are you gonna buy a house? When an apartment unit costs you $1 m? (prices over-exaggerated)" Because of this, the bank lacks the money, and businesses revolves around money. No money no talk. But hey, who am I to talk? I'm just a student, and a non-economy student by the way.
With the world growing darker(literally- I mean, rain rain rain, its been so long since I gazed upon a clear blue sky,not that rain-till-you-drown-or-hot-till-you-drown-in-sweat-type-of-weather ), our government is still talking to the press saying everything is fine. There is no recession, no economy crisis, no whatsoever impending doomsday. Malaysia- truly Asia is a paradise. Yup, a real paradise. There no starvation, no poverty, no nothing bad. Read the mainstream newspapers, Utusan in particular, and you'll be hit with barrage of news reporting that our dear ministers telling us that "Malaysia will not go into recession".
Nice huh? Well, at least the weather is fine today at my area.
14 years ago
No comments:
Post a Comment