Mercury Rising-The New Poor in Malaysia

Loans and Ah Long Beckons

The Edge Financial Daily has made an educated guess and rightly so.

After the price rise of 20 sen per litre of gasoline at the pump and the current inflation rate, this paper has projected that a family of 4 (with 2 children), earning a combined income of RM 6,000 will have very little left in the kitty.

A Forlorn picture of Hopelessness

Assuming they have a conservative housing loan as well as a car loan, the estimated savings would now by only RM 357 at the end of the end. No contingencies!

Do it quietly?

With the impending GST application through Budget 2014, it's mercury rising for the middle class especially those of the salaried class and the pensioners and retirees.

RAM Holdings Bhd group chief economist laments that the effect of the  middle income squeeze will not be good as a large population of the Malaysian people are in this bracket.

Apart from the filthy rich elites--cry, fellow Malaysians as you feel the sharp sting of urban poverty.

Further misery through GST

Any further increase of indirect taxes through the GST will certainly impact negatively on the happiness index and will create further poverty in the country.

Runwaway inflation at the food stalls

Even now, the price of food at food-stalls and coffee-shops has gone up by 50 sen.  That is easily 10% of the going rate! The cheapest bowl of noodles is now RM 6.00.

The French Revolution?

Woe betide the Malaysian people!