Malaysian: Forget about our Finance Ministers, please be prepared.

First of all, I would like to apologise for inconsistent postings on my blog in past few days (a week perhaps).

As you all probably know, the world in past week has seen an unprecedented event unfolding - the subprime crisis evolved into financial crisis in global scale, the effect spread from Wall Street to Main Street in New York, to Los Angeles, to Europe, Tokyo, Sydney, Singapore, Shanghai, Jakarta, everywhere!

But strangely, both our Finance Minister Najib and Second FM Mohamad Yakcob said nothing about the crisis. Instead they played down the effect and insisted that Malaysia would be spared from the crisis. Perhaps we will rise again unscatched?

Based on what assumption that our 'finance ministers' believe Malaysia is financially stronger than Europe, US, Singapore, and all the advanced nations? Prudent finance policy and transparent banking system perhaps?

Do I have to remind you that oil price has plunged to below $80 ($77.85 to be exact in last trade)? And palm oil has plunged more than 40% from its peak?

And above price indicators are just two that concern our national major income. I havent mentioned the unemployment rate that shot up everywhere from US to UK and Australia and elsewhere.

Do you think that debt-strapped consumers in those advanced nations will feel nothing from the crisis and keep on spending on products manufactured in Malaysia?

This crisis is unprecedented.

It's sad to see our finance ministers are still in denial state, keep on playing down the effect of the crisis on our nation.

Confidence is one thing, but giving out false impression would not prepare our citizens for possible crisis, would it? I think the right thing to do is to give the real overall picture of the financial crisis and its possible effect on Malaysia so that our people would be ready for any hardship ahead.

Time does not permit me to write more. Perhaps the article below from Singapore Straits Times would give you some ideas.

And please follow the news too. And of course I would try my best to post the news and development in here as frequently as possible. So dont forget to visit this blog.

Too, I urge all of you to be prepared for any possible outcome arising from this crisis. Certainly I would pray for the best.

Good luck.