Stupid Economic Analysis

In the present turbulent economic times, staying up to date with the latest financial news is important for the most of us, even if most of the time, we senior citizens get panic attacks after reading crisis upon crisis leering out of control, disastrously affecting our lives and 'retirement nests'. It was with a small feeling of relief, albeit temporary, that we read this piece of news Economists expect interest rates to rise in StarBiz, that for a little while, the poor forgotten elderly can keep pace with inflation, even if for a fleeting moment.

However, I would like to suggest that when analysts and economists write about trends, they also should be rational about their views and expectations, and not treat readers as gullible fools. I quote from your report, " He said the good news was the 10 sen cut in petrol RON97 in June to RM2.80 per litre would help to offset the price pressure. Hence, price pressures should start to subside in the second half...."

Give us a break! How will the 10 sen reduction in the price of RON97 petrol help to offset and subside the price pressures in the second half of the year, when even without factual statistical input, we all know that about 90% of the poor and middle income rakyat use RON95 for personal and business purposes. They have no choice as the difference between RON95 and 97 is RM1 per litre.

I did my recent round of groceries, and I found that ALL the usual items have increased, and even Gardenia bread has increased by 20 sen. Will the analyst confirm that if the RON97 stays at RM2.80 for the remaining part of the year, the price of the loaf of bread will revert to RM3? Or the cup of kopi O will reduce to RM1.10 from 1.30?

It's easy to write without thinking. Try living on a shoe string budget like 95% of the elderly and the retired... :-(