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Living Standard Comparison between late70s and today. Are we 10 times poorer?

This is a discussion on Living Standard Comparison between late70s and today. Are we 10 times poorer? within the RM forums, part of the Suzuki category; Late 70s and early 80s, our Msian purchasing power was much better.1. My auntie a school teacher could afford to ...

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Old 12-12-2008   #1
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Default 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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Old 12-16-2008   #2
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I totally agree with you. during the 70s&80s salary are low but with few cents you can buy lots of things but today even you got RM 3000/ month you still wont enjoy the money due to things now are more expensive.----i agree with you that malaysia is getting worse and things is getting more&more expensive everyday.i take an example:- a noodle here cost RM3.50 to RM 4 per bowl. in singapore it only cost SD 2.50 to SD 3.00 per bowl. minus the exchange rate singapore is cheaper than here.
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Old 12-24-2008   #3
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Agree with you. This happened all around the world. I grew up in the 80s/90s and still i can see big differences in purchasing power.I remember in the 90s too that if we bought 10 kg of rice, it's cost around RM8++. That's the cheapest. Today that price is the same with 5kg of rice. I'm fortunate that we produce our own rice... :)
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Old 02-25-2009   #4
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my dad always tell me this..haha..when i ask for more pocket money, he says last time he just need 20sen for a bowl of noodle... sadly enough now i have to pay rm4-10 for a bowl of noodle...with prices of everything keep increasing now, we r the ones who suffer.. look at the petrol.. always increase even when we have our own petrol.. petrol in saudi arabia only costs 0.60riyal (value of riyal n rm are the same).. that means it cost 60sen for a liter... ------
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