Living Standard Comparison between late70s and today. Are we 10 times poorer?
Late 70s and early 80s, our Msian purchasing power was much better.1. My auntie a school teacher could afford to buy a brand new Nissan. My uncle, bought a brand new toyota. my mom managed to buy a brand new civic. Those cars were only about RM6,000 - 8,000. Today it cost 10 times or more! Toyota RM80K++2. School days, I was settled with 20-30sen pocket money for the daily meal. Today, my sister have to fork out a minimum of RM3 per day for her kid. That's 10 times!3. It seems that, in order for us to match the Purchasing Power&Standard of Living between today and early 70s&80s, we have to multiply by ten.E.g. If we earn RM5,000 today, it is only similar to the Purchasing Power of those who earned RM500 in the 70s/early80s. To be able to earn RM1000&have the same purchasing power like the old days, we must earn around RM10,000 today.In other words, if one today earned RM3,000 per month, he/she is only earning RM300 Purchasing Power in the 70s/early 80s.Hi Anderson&Mr Bean,Thanks. Yes, its true, inflation happens in most countries, but here in Malaysia, the situation is worse.Eversince Proton was introduced, the standard of living gradually went down. I cant believe we are paying a piece of scrap (proton) for 9 years for substituting Japanese and European cars. And all that for the so-called National Car?A few individuals make big bucks at the expense of the nation.I guess we are well off if we there were only cows&donkeys in the parliment. Maintenance is low&free of corruption.Miss5mile, thanks.Yes, that's true. And yet, the ruling authorities said that our inflation is below 3% per year.We used to have mercedes benzs as taxis before. Our police used to be equiped with brand new volvos, alfa romeos&huge cc bikes. Today, they are roaming in the cities on kapcai!Hi NoMoney,True, Spore's consumer prices (goods/food) are cheaper, with higher qualities.Bo_$$,Yeah, I've been working in Jeddah before in 2003. The petrol was cheap. The Camry cost RM65k, while my colleague bought brand new Accord for only RM54K.Daniel,Oh man, that's true. I just got married (pictured) and we are expecting a newborn next month. I am already tighting my belt, and wonder how is it gonna be like with 3 or more kids like others.The Bear,You're right pal, it is a matter of finding solutions&alternatives today.Hi Yuna,Right, we are paying at outrageous price tags for cars, for the interest of a small group of people. Not the interest of the nation.The National Car Policy burdened our nation with high taxes on import cars (to make way for Proton&individuals with APs ) and left us with much lesser Disposable Income.Without much disposable income, our nation is unable to buy other necessities such as quality food, shelters, transportation, families'life&health insurance, educational plans and all others that could stimulate the economic activities&growth. And of course, while the nation could enjoy much higher standard of living, the government could gain tax income on those activities.I would say most of the policies implemented are way too premature and affected our Malaysian at large.As what suggested by The Bear, we ourselves have to find the alternatives&solution ahead of 2020.If I were still single, I would have worked elsewhere, eg Europe or Mid East.
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12-12-2008
