Fiddling while Bolehland burns
There is the economic theory that business cycles moves a full circle for every 10 years or so. WE have the oil crisis in the mid 1970s, recession in the 1985 and the financial crisis in 1997. No doubt perhaps the Internet era has increased the productivity of the nations and especially US who drives the global economy together with the emergence of China.
But sooner or later macroeconomic shocks will tilt the global economy into arecession. My guess it will be sooner rather than later probably in 2008. For malaysia hopefully it wun be a case of stagflation with slow growth, rising inflation, high oil prices and weak labour markets. Already inflation is rearing its ugly head in bolehland with growth moderating. High oil prices remained a concern although it has dropped considerably in the past months.
It would be wise to prepare oneself for the coming rough times especially when our Caesar is still having his nap