I read with surprise in today’s newspapers that our country is not in any financial crisis as the world is on a rescue mission to safeguard falling financial institutions. It’s true that none of our banks are coming close to collapsing like many major world banks are, but I don’t think we will be spared in any way as global recession is looming as the fall of the largest economies in the world are expected.
I don’t quite understand why we are denying to ourselves that we are not in crisis when we are going to fork out some additional RM10 billion to sustain the stock exchange’s undervalued blue chips. RM10 billion is a lot of money and if we are spending such money to hold the market, is this not a crisis? Don’t tell me this kind of decision is business as usual and it happens every other day!
The whole world knows what is going on. No poing pretending we are high and mighty and that bad times are not upon us. We aren’t the strongest of economies around and we are so highly dependent on many major markets. If they fall, we fall. No way we will be the last one standing.
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Our country’s top people are always in denial
Thankfully we are not, and much wiser.