From yesterday’s The Star newspaper report, about 30% of Malaysia’s affluent earn RM4,000 and above. Are you part of the 30%? With the economic doom and gloom and sub-prime crisis in USA with impending global recession, it heralds for austerity measures for the rich and poor alike. The rich will be affected in their potential earnings and drop of value in their shares or unit trusts while the poor will have to suffer by paying more for food and cost of living without any marginal increase in their income. Gone are the days where we can spend impromptu and without much thought. With so many banks in USA going bankrupt like Fanny Mae, Freddie Mac, Lehman Brothers, etc, we have to watch out for our hard-earned savings that are thankfully guaranteed 100% by the Malaysian government up to year 2010.
Related posts:
