CPI 7.7% – Who is running this country???

I am still recovering from the shock of Shahrir’s announcement of the CPI rising to a 27-year high of 7.7% (read here) in yesterday’s papers.  Looks like Singapore also announced an increase of their inflation forecast to between 6% and 7% (read here).  The shock was that all this while, the government has been telling us that we are only experiencing a 2% to 3% inflation rate for the longest time when everybody doesn’t think so.

Now that we are told our inflation rate is 7.7% and I believe this is just the start.  Watch as the months move on that the inflation rate will continue to be well above 7%.  And our GDP is going lower to around 4%.  Our Singapore neighbors who earn a whole lot more won’t feel that much when we earn far less and inflation far higher than them.

So the question begs – who is in-charge to manage our economy?  Who is making sure that the inflation rate is back under control?  Who is putting the fiscal and monetary policies to stimulate growth, curb inflation and encourage investment?  Right now, there seems to be nobody doing what they should be doing.

It seems our economy, if not checked and managed, will go on to a free fall.  If all we do is blame the global economy as beyond our control, blame the rising oil prices, we have really shirked from leadership responsibilities.  Every country faces the same but our neighbor, Singapore, with no oil exports have clearly shown how to manage their economy in the light of external forces.

In Malaysia, when we keep blaming external and not take the responsibility of taking charge and deciding how to move in the correct strategy and execute it, we are in deep kimchi and deeper kimchi in the months ahead.

Clear policies and execution is required to stabilize the country.  Projects to be implemented to address specific fiscal and GDP stimulation must be clearly seen.  Foreign investors want a stable and predictable environment to put their money here.

When we don’t know what we are implementing or doing things ad hoc, it shows that we have no idea what to do.  When we are only talking about sodomy, political rhetorics, defamation, C4, DNA and everything else that has nothing to do with economic growth, Malaysia has MISSED the point big time.  The leaders forgot who voted them and their obligation to protect and enhance the wealth to everyone, not just themselves or a select group.

Now, we stare at the current number of 7.7% and wonder how much higher it will be in the coming months.  The government saying it will be lower on the average is merely trying to put wool over our eyes.  Malaysians are NOT stupid people.  We have grown and matured over the last 50 years.

Who in Malaysia is going to do anything about this?  Anwar? (He says that the intent of wanting to take over the government is to to implement the reform agenda that covers economy, culture, education and politics – Read here). Daim and Mahathir? (Who alluded to lack of strong leadership and clear policies which are confusing to Malaysians and foreign investors -Read here). What about Pak Lah?  (Read here).  Sorry, I can’t find anything to link to.  And that’s the point.  There’s nothing we can find that clearly states how to move forward.  The 9MP has yet to show positive impacts to mitigating the fuller impact of the global crisis.

Everyone making statements are not in the power position to implement anything and everyone in the power positions are not talking and doing what is necessary to move the country forward.  Does anyone know how the hell we can avoid heading there?

This is a horrifying thought!  OMG! WHO IS RUNNING THIS COUNTRY?  Are we on auto-pilot?  God help us please!

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One Comment to “CPI 7.7% – Who is running this country???”

  1. Majority of Malaysian hit the panic button during the March election.
    The signal must be travelling by snail mail to the rulling government. Cause Pak Lah and everyone else is like still in La-la-land.

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