Brace yer-self people!!!
The effects of incompetent economic management by our gutter-government combined with the current world-wide economic crisis, is almost upon us. Though the full effects of recession has yet to set in, one can just sense the glooming dark clouds coming in.
They say the first clear signs of recession is when shoppers start holding back on their spending…….and by the looks of how quiet the cash registers are these days, I’d say the signs are loud and clear.
You know Jusco? Everyone’s favourite Japanese retail chain store?
Remember whenever they have their very popular “Members’ Day Sale“, one would always avoid the roads leading to where these stores are because the traffic jam can be so darn horrendous? And if you’re one of the Jusco member card holders who would take a day off work just so to go grab some bargains, you’d see so many people that it may just give you claustrophobia? Or where it takes at least 30 minutes to pay for something?
Well, Jusco had one of those “Members’ Day Sale” two days ago, and guess what? The road in front of my office which leads to Mid Valley, that houses a Jusco, which used to be jammed pack during such sales, was clear of traffic!!!! Even the internal roads within Mid Valley was clear!!!
So what is going on!!??
A friend told me that, apparently, retailers at a high end shopping mall (the one that is standing on what was previously a convent school in KL’s golden triangle?) are planning to appeal for a waiver off several months of rental due to bad bad bad sales.
Recently, I checked out Metrojaya’s Members’ Preview Sale………it used to be so packed that one would potentially lose weight just by standing while waiting to try out an outfit at a fitting room. Well, not this time………the crowd was not only a lot smaller but it felt like any normal shopping day, despite the great discounts and free supper 😀
Even prudent spending has gone to healthcare.
Wednesday February 25, 2009
It’s a sign of an ailing economy
IPOH: Longer queues at government hospitals and health clinics. That’s one of the side effects of the economic crisis.
Deputy Health Minister Datuk Dr Abdul Latiff Ahmad said more people were seeking treatment at public hospitals instead of private ones to save on expenses.
And patients did not mind waiting for three hours to seek treatment, he said. “Even those with minor problems are seeking aid at the Accident and Emergency units,” he told reporters after launching the third Perak Health Conference.
“When there’s a reduction in purchasing power, you naturally spend less. This is why people try not to seek treatment at private establishments.” – The Star
I’m an economic bimbo……….when economists discuss or explain how the economic machinery works, they’d probably get 5 minutes, max, of my attention, after which my eyes just glazed over and thoughts wander into space.
But when you see empty retail shops, or hear about family or friends being laid off, it certainly doesn’t take an economic genius to have one’s worry nerves being tickled? How NOT to know and worry about the recession that is round the corner, or if not, already setting in, as far as some folks are concerned. How many of us here who are already living within the boundaries of our salaries even before this economic turmoil started?
Our current Deputy Prime Minister, who is also our Finance “Tai Kor” (God help us all…….), has announced a much bigger 2nd stimulus plan to be injected into the ailing economy.
Firstly, “Thank You” Mr DPM, for FINALLY acknowledging that our economy is in trouble, instead of insisting that we still going strong…..that our “economic fundamentals” are rock solid. However, like the 1st stimulus package, we can expect zilch or minimal details as to how this “stimulation” is going to be carried out.
So, let’s just discount this government from coming up with anything brilliant to save us.
Although things have not gone to the “bottom of the sewers” just yet, but based on what’s going on now, think there’s no other way but to take matters into our own hands and consider these options, in order to survive this round of economic woes ;
1. Cut down on impulsive and frivolous spending.
Easier said than done, I know, but one way of achieving that would be to leave your credit card behind if you’re going out window shopping. And get rid of all but one ATM card for emergencies only.
(Darn!!! And just when all the major retail stores are having their sales!!! AArrrgghhhh!!!)
2. Find a better paying job.
If local employers are using the economic downturn as an excuse to pay Peanuts, then wish them “Monkeys“. Look for jobs elsewhere or overseas. Check out jobstreet.com or similar websites.
I know it’s tough leaving one’s family and loved ones behind, but consider the overseas stint as a temporary measure and the experience would definitely make one’s resume look good.
3. If No.2 is not an option, then increase your earnings.
I know a lot of people who are supplementing their current pay by taking on a 2nd job or operating a small-time business. The extra earned could go into your emergency fund, which would come in handy during times of financial emergency.
4. Identify and eliminate nonessential and discretionary expenditures
Some experts call it “Trimming away the Fats”.
That may mean terminating your Astro, club membership, weekly buffet treats, Starbucks or club-hopping. Also, you may want to consider cutting down on those cigarettes, alcohol and high-maintenance dates.
That may put a damper on your social life, but just think of it as a “temporary reprieve” and it’ll help.
5. Last but not least…..stay focused, determined and always adopt a positive outlook.
Being depressed will not help anyone, much less yourself. Face each challenge head on and always remember that when one “door” is shut, there will always be other “doors” opened……..PERSEVERENCE is the key
(Sounds totally cheesy, I know, but it’s sooo true!!)