Debts

This artlcle really jolted me tonight.

I am not a fan of dry economic data or commentaries. But what stuck out like a sore thumb was this figure from the article:

"The central government bore RM362.5 billion of debt last year, accounting for 52.4 per cent of Gross National Product (GNP). If the government does not control its spending, I am afraid that the government bond rating may fall, leaving the debt on the shoulders of our descendants."

In layman's terms, for every RM1 that was earned, we had to borrow an additional 50sen. And correct me if I am wrong, this will either mean that future generations will have to pay for the debt, either through reduced spending or printing more money.
Reduced spending will mean less services and capital expenditure or renewal for future generations while printing more money will mean higher inflation, reduced purchasing power for future generations.

Any way that you read it, the future looks gloom. You can attend the most optimistic motivational talk, yellow or blue ocean, whatever eagle philosophy or seeing you at the top, the sad fact remains to the purchasing power of our ringgit.

The message being sent out is very clear - grab all you can today, convert it into another currency and you will be worth much more when the ringgit is in a freefall later. I am not trying to be unpatriotic here, I am just trying to see how all this will affect me in the future - a Malaysian who does not accept emigration as an option nor even as a discussion topic. I am Malaysian through and through.

As it is, middle income Malaysians find great trouble to balance their household expenditure vs. their income every month. 10 years ago, I can make do with all the necessities + little savings + some surplus left for some little luxuries.
Today, not only I find it hard to balance the necessities, savings are at a bare minimum and don't even mention having a weekend meal at KFC as being luxury.

I guess this really gives the real meaning to 'living dangerously'. Living dangerously because there isn't much left for buying health insurance, education savings for my children and retirement expenses once I get too old and weak to work and essentially any form of savings.

Those who are well connected gets parcels of land in prime areas to develop another white elephant, leaking buildings and unsinkable submarines while we ordinary folks have to tighten our belts and make do with rojak without the sotong or nasi lemak without the fried chicken.

What really happened to Malaysia the past 10 years?

2 months before Raya, we scramble to pull strings to get stalls to sell Raya stuff. It is the same 2 months before Chinese new year or Christmas. We scramble and toil hard to get some new clothes for the kids. We take it as blessing or rezeki when we make a little extra to have a joyous celebration. Once the few days of holidays are over, we are back to the sad routine for the next 11 months, eagerly awaiting the month end to check the ATM.

It flew past me, and suddenly I am jolted into reality that RM4000 per month just is not enough to sustain my family. I believe that many millions of Malaysians fall within this category, and I also strongly believe that many of us get into trouble by the 10th of every month, sweating and cursing so that month end comes faster.

It is not because that we are big spenders, not because we are lazy nor is it because we are not intelligent enough. Frankly, my friend, it is because of the systematic abuse of our system that we are here today.

For want of a better future, I am apppealing to the Government, there are struggling Malaysians, be it Malay, Chinese, Indian, Iban , Kadazan, Dayak etc.. Please do not only enrich the division leaders, or the warlords or little napoleons. The masses of rakyat is finding it hard to get by.

Dear YB!

Why does it have to be like this?