While the formal economy can parade all kinds of cosmetic numbers to shore up support for the government and the stock market momentarily,you cannot mickey mouse with the man in the street.
Go to the wet market and you can feel the gloom and impending doom. Ask the nasi lemak seller hawking in the byways and she tells you she used to sell 6 kilos per day and now even with only a reduced 3 kilo of rice, there is a visible lack of sustained buying.
Where have all the buyers gone?
I guess every one is cutting back. In spite of the 2 million odd foreign workers here, the lack of demand for cooked food at the stalls is alarming.
I believe every one is cooking at home or eating bread which is cheaper in comparison.
The crunch is coming to the informal sector. Very soon, the put on cosmetization of numbers from the formal sector will peel off and turn ugly.
As the Eurozone rolls back its demand for our commodities,the Greek debacle will be at our doors soon and this time it is no Trojan horse!
How sad. As they say, "In times of crisis, cash is king".
So, hold on to your cash, avoid unnecessary expenditure and buy the cheaper alternative to stretch your ringgit.
Pray, we get out of this economic black hole.
