The Americans are facing an economic "stagflation", a term coined in the 1970s when recession happened at the same time as inflation, counter to what we learned in economics class (thanks, Sheryl, for this educational bit of news).
The Australians, a number of them, anyway, are facing the mortgage and credit card repayment woes. Some of them could not pay their monthly loans and are evicted from their homes.
In Malaysia, prices of goods are going through the roof, and many people are badly affected by the price hikes. Properties are being foreclosed and auctioned off, too. However, the difference lies in how we Malaysians face this setback.
Instead of being worried by day to day living, we are being entertained endlessly by a live soap opera. It is none other than the alleged sodomy case against Datuk Seri Anwar Ibrahim, our former deputy prime minister.
His story reads like a best-selling Harrold Robbins novel. Check out the latest update in The Star.
