Wednesday, February 21, 2007
Is the economy really doing that well?
The government vehemently denies any election plans this year, from the Prime Minister to senior UMNO aides but I believe that Abdullah Ahmad Badawi will call for one this year. He has been describing the state of the economy as healthy, hinting broadly that this was due to his good management of the economy. Sounds just like how he took credit for the much-awaited South Johor economic zone plan, which was in fact a plan that was hatched during the Mahathir administration.
The mainstream newspapers have been busy spinning how wonderful the trade numbers have turned out, with the magical RM1 trillion number being bandied liberally on the front pages of all the main newspapers. That number, with a little examination, will reveal to anyone that it is just a sum of the total number of export value and import value. In reality, it does not really amount to much. The fact that this was on all the front pages means, editors were instructed to carry it, pretty much word for word, as dictated by the Prime Minister's aides. And they say that there is more freedom of the press under the current administration.
The latest spin being promoted on the front page of the Star newspapers is the fact that car dealers are offering huge discounts to would-be buyers. The Star has surmised that this is due to the fact that the industry has developed to such a progressive level (obviously under the current administration) that customers are now spoilt for choice. Never mind that auto sales in the last couple of years have dipped on a year-on-year basis, as the public remain cautious of buying big-ticket items, as the economy remains sluggish.
Is the man on the street confident about the state of the economy? How would news that total sum of international trade breaching the RM1 trillion mark create confidence on the ground, to the voters that matter? I for one, is very cautious with my spending habits. I consider myself someone who are earn a comfortable living and yet, I do not see the conditions out there as conducive for me to go out and splurge. ¶ 10:34 AM
The mainstream newspapers have been busy spinning how wonderful the trade numbers have turned out, with the magical RM1 trillion number being bandied liberally on the front pages of all the main newspapers. That number, with a little examination, will reveal to anyone that it is just a sum of the total number of export value and import value. In reality, it does not really amount to much. The fact that this was on all the front pages means, editors were instructed to carry it, pretty much word for word, as dictated by the Prime Minister's aides. And they say that there is more freedom of the press under the current administration.
The latest spin being promoted on the front page of the Star newspapers is the fact that car dealers are offering huge discounts to would-be buyers. The Star has surmised that this is due to the fact that the industry has developed to such a progressive level (obviously under the current administration) that customers are now spoilt for choice. Never mind that auto sales in the last couple of years have dipped on a year-on-year basis, as the public remain cautious of buying big-ticket items, as the economy remains sluggish.
Is the man on the street confident about the state of the economy? How would news that total sum of international trade breaching the RM1 trillion mark create confidence on the ground, to the voters that matter? I for one, is very cautious with my spending habits. I consider myself someone who are earn a comfortable living and yet, I do not see the conditions out there as conducive for me to go out and splurge. ¶ 10:34 AM
