Is the Malaysian economy in trouble? Statistically, no. Sentiment wise, we may really be. Every time anyone sees news about people losing their jobs because the company was closing down, it’s due to the economy. Whatsapp messages become viral and everyone is alarmed of the situation. Never mind that the total unemployment is still very low and so many companies are posting job advertisements. Earlier article here.
When a new smartphone was launched at ever higher retail price, they say that’s due to the Ringgit and it has been down because the economy is bad. Never mind that most of the currencies are down versus that ONE currency which is still telling the world that they are the superpower and yet refused to compete fairly. Always through subsidies… We also forget that currency strength should not be based on speculation but based on trade. Surplus means it strengthens and deficit means it should weaken. Nothing of that sort is happening today.
When some new malls close down, they say the economy is bad. Many people are no longer buying. Never mind that some malls were doomed to fail in the first place due to inexperienced management. By the way, Car sales are somehow up…. Anyway, please drop by to the successful malls and see yeah. Image shows the queue just yesterday evening in Penang. Perhaps ONLY Penangites are still rich?
Let’s not forget the viral Whatsapp sharing every time there’s another prediction of a property bubble coming very soon. By the way, usually a bubble will only happen after many warning signs. Understand some of them here: Understanding 3 property bubble signs and more. Happy understanding about the ‘BAD’ Malaysian economy of today. Hopefully the thought will never become a reality.
written on 9 Dec 2018
Next suggested article: Positive news for Malaysian economy. Sharelah.