For the past few weeks when I was driving around my house I noticed a new set of advertisements hanging around the lamp post. Bank Lelong! It seems there was a big surge of auctions in many area. Usually this only happened when the owner has declared bankrupt and could not repay their housing loans.
When I asked around the people in Malaysia how was the sentiment towards the global financial crisis, the reaction was Malaysia Boleh, or government said we have are stable and has less impact compared to countries like US or Europe. I am not so sure about this, really. Personally, I would think nobody will be spared from this crisis and it's really how big is the magnitude which will affect the country. Of course I will pray that it will have low impact on us, but I believe everyone should be prepared and educated on how to face this crisis. However, this is not true when I speak to most of the people I have spoken to. In another hand, I believe more spending will generate income for the economy to move, but at the same time, we should also cut down on the unnecessary. Awareness must be created!
Just 2 days ago, I went for a haircut. Last year at the same time, I paid RM45 for a haircut, and today I was charged RM60. I thought it should be cheaper or same rate in view of the current economy climate. My hair stylist then told me, the business has indeed went down. However, this is true for hair coloring or perming which usually are very costly. When this sort of treatment went down, they have no choice but to increase to most basic service (hair cut) to cover their expenses!
I guess, if you are doing or planning for a business at this time. Opt for the business which provide basic necessity and not luxurious services which are less important. We have to keep the economy move but it's really the time to go back to the basics!
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