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Every day you see people shopping in the supermarkets. In the past when [say] Chinese new year is approaching, you only see many Chinese shoppers., same for Hari Raya or Deepavali, you see mostly Malays and Indians.Dulu-lain-sekarang-lain. Today, all races shop throughout the year. SHOPPING has become the uniting force of all races in Malaysia... not that it is something to be proud of.There is OVER-CONSUMPTION now in Malaysia and if we do not reduce this, we will be perpetually in debt.
I am telling you guys... comparatively speaking very few Indonesian are bankrupt. Simply they (consumer & businesses) prefer cash transactions. Banks or financial institutions does not really trust the consumers and so does the consumers towards the bank. Most people prefer to put their cash under the pillow and banks preferably lend only to the super rich.Most Malaysian lives on credit. Malaysian can buy anything on credit... even in massage parlor.
You are absolutely correct PJB. Many Malaysians [especially the younger generation] have contracted the [Western] disease of spending-on-credit.Their minset now is .."if I pay cash I can only buy one item, but if I pay by credit card and instalment I can buy many items!". They want to have every thing AT THE SAME TIME. One look at their income will tell them that this is impossible... but wat to do, they still want everything.I also buy certain things [expensive ones] that I NEED by instalment payments. I will not buy another item until I have almost paid off the first item. Sure I want both at the same time - but I can't afford it.
i used to but my stuff when i really need them. in fact i try to compare prices n have a good bargain. But now i am buying on credit due to the fact that is interest-free. so why should i pay let's say RM1000 instead of RM56 x 18 months. EPS - Easy pay Scheme. Today i went to a Tailor Shop in D'sara Jaya.He is offering ESP!!! n i ask him what is ESP. Today i learn a new short-form --ESP. If i were to buy 10 items on ESP means i will be spending RM$$$ X 10 items x no of months. in other words shopping n spending unnessary. What more to we expect from our youngster. They spend bcos of new n advance stuff be it a car or iphone.. As for the older people -have to enjoy n spend as in their mindset "will tomorrow comes". Just now i received a phone call from Klang. -" nie yau lay wan wan mah? .... hahah spend or not to spend. just to make here happy, i said , ok ok coming. i dont even know where!
Don't just blame it on the people for overspending, the lousy Government's at fault, too, for the spiralling prices of all commodities compared to the meagre income. The rakyat have to live and move forward. I think minus the widespead corruptions, every Malaysian can be a millionaire, easily.
Yes, tt326c -- u ur absolutely right. for the 50 over years, if it is smooth n fair administration the majority of the rakyat are rich n living in a developed country. there are people working for the last 10 years with just the take home pay. No rises no bonus. The reason -- this (increments/bonus) are to be given to " u know who" so that the company can go on so does keeping the job. These cronies are infact doing daylight robbery. life goes on.
bapak JB, the new generation have to learn from u. "How to use book-keeping" they have to bring along the small booklet --"555" -- i sure a lot of the people n the now youngster do not know or forget about the 555 booklet. hehehe .
one way or another, the govt is setting the trap for you guys out there.first, they allowed the developers to build badly-ventilated houses, so that you need to get the home air-conditioned. this is spending.second, they make the electricity so expensive, that you won't want to stay at home and 'consume' your own air-cond power usage...SO HAVE TO GO OUT. where to? the complexes of course. (got air-cond mah)spending again, in terms of fuel for the car, parking, one or two meals outside...plus some impulse purchases.third, they used up every inch of land for development (of bad houses, stuffy condos, or complexes), INSTEAD of the much required 'PLAYGROUNDS'.old people in Singapore and HongKong could go to the playgrounds or parks to idle away their time, BUT not for Malaysian old folks. They have nowhere to go.No Choice, BUT to the Complexes.Spending again.Yes, we were all being LURED, FORCED, TEMPTED and TRAPPED into the complexes...It's the conspiracy of the B-N govt. Whey do we even call them the FED govt. Coz they need our money to feed them.If you and I try to TOTALLY shy away from the complexes , JUST for 1 month, I think , not only the businessmen all die, even the govt will not get 'FED'. Then they MAY die too.So, we want them to die OR we want ourselves to die? Staying indoors for 1 month won't make us die, will it?make a choice.
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I still remembered how very proud I am whenever I makes the payment using American Express Card. And I called it 'Credit Card'.In those years (early 80's) having the card means you are among the elite. I once made a purchase in front of my mother using the plastic; which made her embarrassed. I overheard her murmuring... I am using black magic to con the goldsmith.
oh yes, there are helluva lot of people who thought carrying many CCs in their wallet is like living in paradise.This friend of mine once wanted to pick up a tab for our lunch, and upon paying, he took out a credit card BUT before putting it on the water's tray, he held it close to his head and made a 'thinking' gesture. It's like he's trying to recall IF THERE WAS STILL ANY CREDIT LEFT IN IT.Then he shook his head and pulled out another CC instead. He shook his head again, and only finally decided on the fifth card.I guess, the first four cards were already swiped broke to the brim.SO WHY BOTHER TO CARRY IT AROUND? For Glamour?What Glamour?...Scratch my head.
Credit cards are useful if you do a lot of business overseas travelling and entertainment and can claim back from the company quickly upon submitting your travel claim.And if you are self-employed with your own business it is a good source of emergency cash while waiting for funds to be received [better than borrowing from Ah Longs]. However, whatever is withdrawn [with high interest] must be FULLY PAID as soon as the funds are received.Yeah PJB, it was a status symbol in the seventies. I use to flash around my American Express and enjoyed the special service and smiles [big shot ma!]...hehe!!.Like what woody commented "...there is no glamour in using the card.."..... CASH-IS-KING.
I go with TT and Woody San on this. Go beyond the technicalities of the issue, how dit it all started.For the last 50 years our Gov has been performing very well in 'Wayang Kulit'. While they keep bombarding the imbecil Malaysians with how great was the Malayan Union to chase of the Mat Salleh, behind the screen they squander on NEP funds. Letter all the private sectors, Insurance Companies, Financial Institutions, Toll Concessionares, Telcos, Astros, etc to rape the public in broad day light.
Btw., can I say that the Banks are "Indebted" with the Gov.?
Ali bro,can I then say that:the humans manning the banks are actually rubbing shoulders with the humans manning the govt machinery on every possible Happy-Hour outing?Their activities involved exchanging ideas like: 'How about grabbing money from the poor and sharing it among us here?' OR"Hey, my bank is running out of cash, why not we implement some service charges on existing services?' Than way we can scrape another 5billion a month....'