Bad times are here. There’s no need to sugar-coat it and live in denial – inflation and a potential recession is looming on the horizon that is closing in on us faster than the last haze we experienced. Those of you who think this is just temporary – remember that temporary in this case does not mean short period of time – it’s going to last for quite a while and you’d better be able to out last it. Don’t for a moment think it’s a joke. This is how serious the situation is.
Many hotels have admitted to losing up to 70% of business and why is this? Because most of the events had at hotels are from the government and if you remember correctly, the newspapers reported that the government will be cutting way back on their functions.
So when an organization/company loses at least 70% of business what options are there? They can either close shop or cut cost – either way, it’s going to affect the job market. Speaking about jobs, the Human Resource ministry was very careful to note that they will be watching carefully on organizations executing “tsunami” VSS. Are they aware that companies want this? They’ve just been waiting to VSS their staff as a cost-cutting measure – and mind you, this is VSS with little or no payment at all. I suppose they expect those who lose their jobs to survive on hope and love. Reality check. This isn’t the 60s, it’s 2008.
What’s happening here will become or if it isn’t already, a global issue. It will not only be the death of many businesses, but also result in many physical deaths. Debts will increase, depression will set in, suicides will occur. This is a very real and frightening domino effect and all because of poor governance not only by the government but also by those who run certain companies. Don’t be shallow and think it’s all good. Slap yourselves awake or I can do it for you.
5 comments:
OOh yah Ernie. It is indeed a good reminder and warning!
btw, heard some people said its gonna get very bad after Olympic, what do you think? Why?
It's not the time for dream anymore. It's time to act. Things can happen anytime and you need to be ready, if not you'll be the first one to DIE.
Welcome to recession! I got a slap already when I ate my mee goreng daging with telur dadar and it cost me RM7.20. It's crazy.
Thanks for this article, Ernie. People need to realize that a lot of businesses will close shop and there won't be many jobs available on the market.
I was really irritated when I saw in the newspaper that the government is advising people to get a second job. Duh! That just show their level of intelligence... minus 2.70 times 1,000,000,000. Yes. The level goes to negative value.
Imagine the faces of government servants who you're familiar with.
Now, imagine them working at McDonald, Starbucks, petrol stations, 7-eleven... Not a nice sight.
Ernie, what is your advice for the middle and lower class people? What should they do in order to survive this recession?
Chetz Yusof
A Member of outLOUDers
The No.1 Confident Community
Hi Ernie! How are you?
Ya.. A lot of people forwarding emails about the increment of the petrol price. Some even did the math on the petrol price.
How can we tell the governement off?
our company is big but yet, we have to cut cost...hr is limiting each dept to use one rim of paper per week for photostating....
is really frustrated to see how our governement to manage the country and the good resources that we have...
It's truth people keep talking about there is a recession in every 10 years. In 1997, my first time to see & understand how bad of the market during the recession period. Now is worst!
If you think you work hard, work HARDER! Welcome to the real world. Stop blaming, look forward and find the way out from this bad times. Do whatever is under our control. Be tough and strong to face the challenge.
Post a Comment