Monthly Archive for March, 2009

There are no signs of the economy reviving itself to becoming better for the world and there’s really nothing much we can do  about it. Companies are laying-off employees, shares are hitting rock bottom, investments shown on papers are merely a piece of paper — we’re so totally screwed! (I was looking at the shares I have in hand — everything is underwater. every single share!!! gosh. phhhffftttt!!!)

The economic downturn is cyclic. When the shares were at its all time high earlier last year, lotsa analysts and experts have said that this huge bubble will burst soon. True enough it did. Has it hit rock bottom? Don’t know, and I doubt it has. I’m no analyst (and my knowledge on economics is so rusty it’s unbelievable) but I’ve read several papers written way back when I was completing my final year project about the cyclic pattern of the economy. One of the many papers interestingly shows that the economy (or at least the share market) will be at its lowest point during the year of the Tiger, following the chinese animal zodiac cycle. Year 2009 is only the year of the Ox. The year of the Tiger will not come until year 2010. Now, if that study is true… things will only get worse by time. Gosh.

Anyway, is the economic turmoil and recession (or some believed that we are in the midst of depression) reflected in the personal consumption patterns of the society? Well, at least the people in Malaysia? I don’t see quite a lot of changes. I don’t feel the hype of people cutting down on their spendings; eating out at expensive restaurants, or spending on a certain entertainment, shopping etc. Recently, when I was on my usual rounds of blog hopping, I still see lotsa pretty interesting habits; I see ppl hanging out at nice hotel pubs, eating awesome food at fancy dancy restaurants, spending money on new gadgets and I thought to myself — what economic downturn??

Hang on a minute… I MUST THE ONLY ONE WHO’S BROKE! CRAP!!

I’m one lucky bugger coz I don’t have much commitments. No car loans, no housing loans. The biggest thing I’m paying off right now is my school fee. The rest are rather petty stuff; small household bills, insurance, allowances etc. I’m honestly grateful to be this lucky.

Still, I’m careful with my spendings these days. I think twice going to fancy restaurants. Make that thrice. My parents are going to hooiju’s commencement ceremony and I want to be able to contribute a little to their trip. I know I won’t be able to contribute much and how I wish I would have the ability to contribute and give them everything but knowing that I can’t, I would still like to chip-in a little. I know how good that would make them feel — hence making me happy.

Since November last year, I don’t remember buying anything for myself (unless buying toothpaste, shower gel and other toiletry stuff counts) [UPDATED: alright, I just recalled I bought myself 2 books last week. THAT has got to count]. I don’t feel sad or anything, coz I think I have all that I need. I’m thankful. There may be things I wish I could own, but again, if the current one is working absolutely fine, there’s no point spending another few hundreds getting a new one. I’ve got friends who recently asked me to go on holidays and how I wish I could go but then again, spending the money on my parents would make me feel so much better. I can still go for a getaway nearer to home, right? It doesn’t have to be far — what matter is who you’re going with.

So yea. I have a feeling that this economic downturn is gonna be worst than the 1997/98 Asian economic crisis. We can only hope for the best. It doesn’t hurt to have extra cash in ur wallet every now and then during these times. Let’s all hope for the best.

p/s: crap — income tax period is coming. LAZY!