Country in fiscal crisis. Total collapse in 3 years.

**the_wildthing** · August 25th, 2004 12:18 PM

Idaan na lang sa inuman...

Filipinos are known for the "bahala na" mentality. Come what may, we will still try "na idaan na lang sa tawa..." We're still the happier sort...

Of course there's a downside. You can't have too much of "bahala na".

But what can we do? There are so many problems that need to be addressed, where do we start? Nakakalulang isipin...

I have no answers. Sana lang lahat ng tao ang mind set ay "for the good of our country" instead of "for me alone" in all of our actions.

**RafRaf** · August 25th, 2004 12:24 PM

eh kung ampunin nalang tayo ng US... gawin parang hawaii or isama sa US asia pacific islands... tapos dollar na rin currency natin...

obvious na desperate....

**Cardo818** · August 25th, 2004 12:29 PM

Is this more worse than the economic crisis in 2000-2001?

naalala ko that year biglang baba yun presyo ng stocks. until now di pa rin nakakabangon... is it happening again? or isolated lang to sa pinas?

**jolog1** · August 25th, 2004 02:03 PM

Kung natuloy ang bagsak ng economy natin, ang maapektohan ay mga middle-class. Yan ang laging result. The poor stays poor because they have no money to lose. The elite rich becomes richer because the bulk of their money and family are overseas. The middle-class will disappear. Parang sa India, there's the poor class and there's the elite.

Take a look at our GDP, debt, deficit, and peso devaluation. It's logical to conclude that bankruptcy is near.

**theveed** · August 25th, 2004 02:11 PM

or dinadaan sa dasal sheesh... ala cory...

**explorer** · August 25th, 2004 02:17 PM

Originally posted by Auto_Xer
During the early 80's the peso went from ~8:1 to about 20+:1 then 35:1 coming back down to as low as 25:1 before going up to 45:1 then to it's current rate.

and to think that peso value was being fixed by CB at that time. but we are not at that situation at this time, the peso value is dictated by market conditions and speculations. remember the asian crisis? it was more of speculation than the actual economic condition, that's why mahathir of malysia was so mad about the US businessmen because he thought that it was more of economic sabotage (because of speculation) on asean economies.

**theveed** · August 25th, 2004 02:18 PM

Originally posted by mazdamazda
btw, I didn't think that we experienced "mass labor lay-offs" when the Peso devaulated during the Asian crisis? as I remember, from P28 it plunged to P45.

I think we did, we (dad ko and his collegues) closed down 2 factories in clark (despite its tax incentives) employing 1000+ workers from that crisis, daming nagsarahan na factories in clark alone.

**explorer** · August 25th, 2004 02:25 PM

Originally posted by theveed
I think we did, we (dad ko and his collegues) closed down 2 factories in clark (despite its tax incentives) employing 1000+ workers from that crisis, daming nagsarahan na factories in clark alone.

yup. in automotive industry alone, toyota, honda, nissan, mitsubishi and isuzu tried to cut the laobr force by as much as 40% by offering the voluntary separation plans. some employees were tempted because of the attractive 'package'. but i know some people who availed those retirement packages in 1997 are unemployed until this time.

**theveed** · August 25th, 2004 02:37 PM

eto lang sakin...

yes, andyan na yung prob ng debt... but di issue masyado ang debt eh, malaki nga halaga, but such debts aren't even expected to be paid, maybe people have forgotten which country has the biggest debt in the world..

THE UNITED STATES

The ONLY solution I can see for this country is in the micro level.... the individuals. Filipinos in general are too apathetic and too self serving to know the value of their own country. Have a country whose inhabitants love the place they are living in, the country will prosper, maybe it'll take time, but at least many are looking at the same direction... Dito hindi eh, kung may additional direction other than 360 degrees dun pupunta ang tao eh...

Just look at the action of every-day pinoys that drags the country down...

Throwing trash anywhere, pissing anywhere, lack of respect for other's property and rights, mudslinging, grapevine rumors that has no basis...

Honestly, do you think filipinos, at least majority of it, will change starting from themselves anytime soon?

Until they do, don't bother with complex solutions like politics, economics, etc etc etc.

**wowiesy** · August 25th, 2004 03:18 PM

Originally posted by JAYarc
imho lang, media must be responsable by limit, or block issues that will caused panic and dollar holding..

imagine if people get panic! result mass account withdrawal, panic buying= spontenous downfall hehe..

ang problema sa media... kita kasi nila pag tumataas ang ratings... it plays along with their interests na tumaas ang ratings kapag emotional o ipa-panic nila ang tao... pag emotional issue.. sensationalized... mas marami manonood.. mas lalakas ang ratings.. they get more power to charge higher for advertisers...

minsan naiisip ko. yung mga public service ek ek nila ... just a way to get the masa glued to them.. utang na loob baga.. para lagi pa rin sila tangkilikin... para steady pa rin ang viewership.. para they can command higher price sa advertisers...

you can easily see it... yung mga talk shows.. especially yung mga showbiz related... imbes na they make a move na magkabati ang mga nag aaway away.. anong ginagawa nila.. kukunin lang ang panig.. they will plant words / scenarios na magiging emotional yung mga taong concerned para kung ano mang banggtin nila eh explosive... imbes na they make efforts na ipagbati off camera.. tapos pag nagkabati na eh tsaka nila i air yung pagkakabati... ine air nila yung pag aaway.. alang pakialam kung magkabati o hindi...