Are we in recession or are we not?

The government says we are not. Technically, as you know, a recession is when the economy experiences two consecutive quarters of negative growth.

For developed countries, that makes perfect sense. But for emerging economies, you really shouldn't wait for two consecutive quarters of negative growth to determine if we are in recession.

As with most things, I prefer the real acid test. Are people on the street finding it increasingly difficult to make a decent living? Are businesses growing? Are our expandable income shrinking?

Malaysians have a notorious 'tidak apa' attitude. Nobody seem to fear for the upcoming turmoil (ok, let's not call it recession). You should be.

View this for perspective.