Recession??!? … and temptations

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plutonomy
No excuse for Bankers. Analysts. Mega Rich. not to know the word!
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Ajay Kapur, global strategist at Citigroup nailed it on the head with the term Plutonomy” in 2005. And since then, I am a convert.

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Petrol prices has long gone down and thanks Mr. Prime Minister, I enjoyed my 625 ringgits subsidy whilst driving a Land Rover which I filled only twice during the price soar! {no sarcasm here. just gloating}
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But, ironically, I am still paying inflated prices for everything that took a sudden hike during the oil price rush. The explanation offered by the ‘char koay teow’ man, news stand uncle, roti thambi to the astute learned and reasonable man is no longer “petrol price up mah” BUT “recession”.
Well, if that were the case, how do you explain the queue outside Coach boutique, which my colleague and I were guilty participants of?
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Plutonomy
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Another interesting observation.
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Range Rover
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First made its debut about 2 years back for 1.1 million ringgits.

The Discovery 3 {affectionately known as Disco 3} had a hefty price tag of close to 800K ringgits.
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About 6 months after its launch in Malaysia, the Range Rover took a humble dip – 800K ringgits for the smaller sports model.
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Disco 3 hardly made an appearance.
Being in its own small niche market, the Disco 2 owners I was told:
…..a) did not like the new Disco 3 ‘look’,
…..b) found it too expensive to upgrade,
…..c) both a) and b).
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Well, b) was confirmed by a group of Disco 2 owners whom I met, sipping champagne at the launch of Jaguar’s Z-class coupe and convertible in Bangsar Shopping Centre. And, oh, 2 coupe Jags were sold that night. I too had my hands on a Jag convertible that night; albeit driving it from the platform down to the lobby of the shopping mall. Ahhh… the advantages of knowing people in high places! ;p

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A month ago, I received an evil promotional flyer in the post. It’s content?
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The glaring obvious one was that the Disco 3 prices had taken a plunged to 380K ringgits and there were at least 10 CBU units available to be snap up during the Land Rover Carnival on 9th – 10th January. At the 800K and thereafter at the 500K ringgits mark, I was happy. ‘the love of my live’ was way, way, way beyond reach. It was just ridiculous. Unthinkable. Sinful. To splurge half a million on wheels!!!

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But… but… at 380K ringgits … that’s achievable. Painful. But achievable.
As a defense mechanism, I threw the flyer to the recycling pile and erased the 9th and 10th January dates from my consciousness.
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But 9th and 10th January came and went. I was fully aware. However, I was safe in my home. Far, far, far away from the Carnival venue.
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Last week though, thinking it was safe by then, and not having much choice, I drove my ‘leland baby’ into Land Rover Malaysia for service. 130,000 kilometres. Ouch! Major servicing. Going to cost me an arm and a leg, I thought, feeling a pang of pain in my chest. But that pain was nothing compared to seeing 3 Disco 3 sitting regally in the showroom. Two of which in my favourite colours! gaaaggghhHHHHH!
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And since every single person in Land Rover Malaysia knew that the ‘love of my life’ is a Disco 3, I was immediately drowned with Disco 3 information. Maintenance, fuel consumption, hire purchase rates (unbelievable savings at 2% interest rate only), performance …
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SHUT UP!!! Leave me alone you leaches!!!!
The freaking economy is bad! You hear?
10,000 people just lost their jobs in January alone here.
I am a goddamn Banker. We are all going to be on the street …soon. Maybe. Hopefully not.
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Well, I survived the ordeal. The temptations.
See, in instances like this, the golden rule is: NEVER ever test drive the goddamn thing.
The moment you enter her and feel her, you have lost the battle. Emotions and hormones takes over. Logic is thrown out of the window. Your brain ceased to exist other than tweaking your mouth muscle upwards. Resulting in you grinning from ear to ear like and idiot. And you will find your head involuntarily bobbing ‘up’ and ‘down’ signaling ‘YES’. This I learned the bitter way a few too many years back when I ended up driving a black convertible home.
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And with ‘leland baby’, well… I am probably the only person you will ever know who bought a Land Rover without a test drive.
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Since, the latter is a huge probability, I quickly made a dash for the exit at the first opportunity I had. Since then, I have spent 96 hours convincing myself I do not need the damn Disco 3. I can’t park the Disco 3 for Pete’s sake! 2 people don’t need a 7-seater vehicle. No! no! no!
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Bah…
this ordeal renews itself tomorrow when I collect my ‘leland baby’ from his 130,000 kilometres servicing.
Wish me luck! I need all the strength. Sigh.
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BTW, true to nature and the word plutonomy, only 2 Disco 3 are left since the Carnival on 9th and 10th January. I didn’t dare enquire how many Range Rovers were sold.
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* for a dash of reality and sense of relativity, the average annual {reported} income of a person in Malaysia is approx. 35,000 ringgits p.a.

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a last glimpse of the ‘love of my life’ …
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7 thoughts on “Recession??!? … and temptations

  1. freaking @#%%&^&**&^ *%%$^&#%*&!!!remind me again why i hate corporates, bankers and all those that represents $$$ and class.go get it babe!my ears are red and hot listening to you go oooh and ahhhs about it. enough! get me out of my misery and stop feeling sorry about being able to afford it.though you could give me the money though.

  2. I LOVE the rear view!I watched stupid Tom Cruise in action over and over and over and over again to admire this beauty. No wonder the 5 ringgit DVD kaput at the night car chase scene! LOLCannot lah… no job how?

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