The Damage Had Already Been Done

Gov't set to announce fuel price cut

Aug 1, 08 2:07pm (www.malaysiakini.com)

Prime Minister Abdullah Ahmad Badawi today said the government was set to announce a cut in fuel prices, following a 41-percent hike in June that stirred protests.

Good to hear that, but it was meaningless. The damage had already been done. Costing of living had already shot up. Even though the government cut the fuel price, I doubt it can be restored back to the previous level.

Government has cut down their projects; private companies has changed their bearing from expansion mode to survival mode; inflation rate has rocketed to 7.7% (which I still believe the real life figure is much higher); job market looks shaky and consumer's spending is dropping (Generally a restaurant business dropped 20%-30% after the fuel price increase).

There is an old chinese saying: "If you know that this is the consequence, why you want to do it in the first place?" I don't believe none of the economist/expert warned the government before they announced the 78 cents fuel price increase. Why? Why do this at the expense of the general public?