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| Shrinking wallets, too? |
Now things have really gone overboard.
School canteens have also increased their food prices. Poor students-poorer parents!
Go to the mamak makan stores especially Kayu Restaurant, it is from 20 sen to 50 sen.
Don't go into any Chinese kopitiams unless you have more than 10 ringgits. Otherwise you may have to leave your watch or any other valuable behind!
When government leaders do not think when they raise their own salaries and have all kinds of income,only the rakyat feels that bitter taste in the mouth and the wallet.
Welcome to Malaysia when you are hit from all sides all at one go!
The ringgit indeed has shrunk.
Best way out?
Do not hold anything in ringgits.
As such many have opened foreign accounts in both local and foreign off-shore banks.
A second best alternative-hedging.
Despite the poor property market prospects because of government overkill such as that ridiculous RPGT regime, the poor quantum of bank loans and the abolition of DIBS, a good property will still be a good hedge to ensure your value of the ringgit remains so. Besides rents, there is a good chance of capitalisation gains as most developers have pull back housing launches for the time being to review business plans. So, any glut situation will disappear as housing stock shrinks!
Any other investments from stocks to unit trusts to insurance and savings are vulnerable to the shocking inflation woes!
