COMMENT | The economy is depressed

COMMENT | The government and I live in different worlds. For the government, it is always party time. The Covid-19 pandemic and the Emergency declaration hasn’t affected the government’s optimism – we shall still grow at 6.5 percent to 7.5 percent, it seems. The Ministry of Finance carries a cheeky smile in the face of investor’s confidence.

In spite of everything, Azmin Ali told the country that the trade surplus is the “highest ever” (ignoring the fact that this also indicates a weak domestic economy).

Contrast this party spirit to mine; I am a downer. The second movement control order (MCO) was nightmarish to me and my clients’ businesses because it drastically cut short our recovery time.

Drying cash flow is typically the first bad sign. Stalling business activities mean fewer transactions and lower cash transfers take place. Suddenly expenses looked high, and you start worrying about the day-to-day.

But of course, I may be an outcast in the grand scheme of things. In my quest to overcome my loneliness, I searched high and low for data about how small-to-medium businesses are doing. Is everyone else affected the way I am?

I saw a YouTube video by a Chinese uncle called Elmo – the same name as the friendly Sesame Street character. He went on a neighbourhood survey of the hawker stores and restaurants in Petaling Jaya to understand how MCO 2.0 has affected them...