Raise your hands if you believe that this minister does not know about economic cycles.
If your hands are raised, now slap yourself hard for being stupid. What he has done is simple, with one seemingly silly statement, he has made everyone swallow the fact that we are going to have a downturn, and that this downturn will be a repeat of the one in 1997.
By diverting the focus to his “ignorance” and with the media interviewing “top” economists who all point out that this is just part of the nations’ economic cycle, the average Malaysian is now gearing up for what he has survived through in 1997.
If you believe that this “downturn” will be a repeat of 1997, slapping yourself wont do. Open the drawer, get the hammer out, and keep knocking some sense into your head until I tell you to stop.
Its going to be worse. How much? I cant say, but if you think back to ‘97 and multiply that by a hundred you are beginning to scratch the surface.
This looks more like a repeat of 1929, with the added bonus of not having much of a chance of a world war to pull us out of it.
What can you do? Buy Gold. Or you can read my previous post.
