Exposing Manny Villar

[Stoner]

Kinda ironic that we have a thread like this, yet the ad' Get to Know Manny Villar' is being flashed at the top of the page.

[Red Bureau]

Hindi naman daw talaga magnanakaw si Villar once he becomes President.....magnenegosyo lang

[tiquico]

Si Manny Pacquiao, ang magtatapos ng ating kahirapan.

(This will be Pacquiao's campaign speech in Sarangani.).

[uls]

here's something i stumbled upon kanina

a Business Mirror article written by Manny Villar

in the article, you would sense that this future president (if he wins) isnt gonna fight the OFW trend

in fact, he's embracing it

doesnt sound like he will be pushing for industrialization

this enforces my view that the Phils. is (and will remain) a manpower agency to the world and the Phil. economy is (and will remain) an end-user consumption driven economy and is not (and will not become) a serious goods-producing economy (like other Asian countries)

OFW remittances contribute greatly to our country's foreign currency reserves

so we're confident we always have enough money to pay for imports

and service foreign debt

which is why foreign lenders are always willing to lend us money

coz they clearly see we have a steady source of foreign currency income

No wonder politicians love OFWs

The Philippines’ ‘OFW advantage’
http://businessmirror.com.ph/home/op...advantage.html

Opinion
Written by Manny Villar / The Entrepreneur
SUNDAY, 17 JANUARY 2010 20:15
IN this second part of a “look-back” at the economy, I pay tribute to our modern heroes, the overseas Filipino workers (OFW). They have once again responded to the silent distress call of the economy as it teetered into recession last year.

I believe that our countrymen, who continue to endure separation from their families to eke out a living abroad, are a big factor behind our success in avoiding the recession that hit richer countries and bigger economies in 2009.

The estimated 1-percent growth in terms of gross domestic product for 2009 is nothing to crow about, but the figure would have been negative if it were not for those 10 million OFWs who continue to send precious foreign exchange home.

I call this our “OFW advantage,” something that other labor-exporting countries cannot claim. This is the continued deployment of Filipino workers last year, defying predictions by economists and multilateral agencies that demand for imported labor would decline because of the global economic slump.

As a result, remittances from overseas Filipino workers increased by 6.7 percent to $1.53 billion in October 2009, the highest monthly remittance level recorded so far. It also brought the country’s total remittance inflows to $14.3 billion for the first 10 months of the year, up 4.5 percent from a year ago.

The Bangko Sentral ng Pilipinas (BSP) estimates remittances for the whole of 2009 at $17.1 billion, up 4 percent from $16.4 billion in 2008. For 2010 the BSP expects remittances to grow 6 percent to breach the $18-billion mark.

On the other hand, foreign direct investment inflows increased by 17.9 percent to $1.33 billion in the first 10 months of 2009, from $1.126 billion during the same period in 2008.

In the meantime, exports of Philippine goods dropped by 24.6 percent to $35 billion (the actual inflow will be much less if the value of the imported components of export goods is deducted) during January to November 2009, from $46.2 billion for the same period in 2008.

Given these developments, it is reasonable to say that OFW remittances contributed significantly in making the Philippine peso the second less volatile currency among 13 selected currencies. Volatility is a measure of the extent of fluctuation of a currency.

To all exporters and importers, the less volatility, the better. That’s because wide fluctuations in exchange rates make it difficult for them to plan their operational budgets. And their income, in peso terms, depends on the exchange rate.

According to the Bangko Sentral, the volatility of the peso stood at 1.51 percent in 2009, the second least volatile after the 0.08 percent of the Chinese yuan.

BSP data show the volatility of other currencies in 2009 as follows: Japanese yen, 3.8 percent; Thailand baht, 2.49 percent; euro, 5.16 percent; Indonesian rupiah, 8.17 percent; Korean won, 7.81 percent; Singapore dollar, 3.23 percent; Taiwan dollar, 2.19 percent; British pound, 5.96 percent; Australian dollar, 11.89 percent; Malaysian ringgit, 2.59 percent; New Zealand dollar, 12.18 percent.

OFW remittances provide the funds to service our foreign currency-denominated debt, keeping our balance of payments in surplus. Remittances fuel consumption, which has been driving economic growth in the retail and services sectors and, together with the business-process outsourcing industry, keeping the real-estate industry bullish.

This is significant. As I mentioned in a previous column, the government was not able to pump-prime the economy as much as it should have done because of poor revenue collection.

Even the domestic automotive industry attributes its unexpected 6.4-percent increase in sales to 132,444 units last year to OFW remittances. The industry is also confident that, because of the continuing inflow of remittances, automotive sales will grow by at least 4 percent to reach 138,000 units this year, another record-high.

Again, this is significant given the continuing slump in the global automotive markets.

What happened last year, and what would have happened were it not for overseas Filipino workers, give us a better appreciation of our OFW advantage. We saw that it sustained the economy during the crisis.

I try to show my appreciation by helping OFWs who suffer abuse, one of the risks of working abroad, and those who want to start a new life home. But I wish the government will do more to protect them where they work and live, help them when they get in trouble, and support them when they finally come home to begin a new livelihood.

[Rev!t]

si Villar ang "tunay na mahirap".... pero siya ang pinakamayaman na Senador..
buti pa kung sinabing "tunay na GALING SA mahirap"...

Vision ni Villar na yumaman ang pamahalaan/gobyerno natin pero walang say tungkol sa $53+B na utang ng gobyerno... mukhang payayamanin nga ang foreign debt ni Juan dela Cruz..

^ginagawa niyang tanga ang Pinoy...

[JackFlash]

here's something i stumbled upon kanina

a Business Mirror article written by Manny Villar

in the article, you would sense that this future president (if he wins) isnt gonna fight the OFW trend

in fact, he's embracing it

Without OFW's, di na siya makakagawa ng ads that project him as their savior.

In another one of his ads, his purportedly old dilapidated house in Tondo was featured. I joked about it while talking to a cab driver: "Sa dami ng pera niya, di pa rin niya pinaayos yon?" Sabi ng cabbie, "Siyempre, alam niya kasi na gagamitin niya yun sa commercial balang araw."

[vinj]

here's something i stumbled upon kanina

a Business Mirror article written by Manny Villar

in the article, you would sense that this future president (if he wins) isnt gonna fight the OFW trend

in fact, he's embracing it

doesnt sound like he will be pushing for industrialization

Uhm... one of the biggest buyers of properties (house and lot) are OFWs.

Nasubukan mo na ba magpasko sa gitna ng kalsada? ----> Syempre nagawa na ni Villar yun, sa gitna daw ng C5.

[CVT]

here's something i stumbled upon kanina

a Business Mirror article written by Manny Villar

in the article, you would sense that this future president (if he wins) isnt gonna fight the OFW trend

in fact, he's embracing it

doesnt sound like he will be pushing for industrialization

this enforces my view that the Phils. is (and will remain) a manpower agency to the world and the Phil. economy is (and will remain) an end-user consumption driven economy and is not (and will not become) a serious goods-producing economy (like other Asian countries)

OFW remittances contribute greatly to our country's foreign currency reserves

so we're confident we always have enough money to pay for imports

and service foreign debt

which is why foreign lenders are always willing to lend us money

coz they clearly see we have a steady source of foreign currency income

No wonder politicians love OFWs

Kaya nga walang pakialam ang ating mga namumuno kung magsara ang mga trabaho rito.... Dahil gusto nilang mag-OFW na lang ang mga Pinoy taking advantage of the family/clan relations para magpadala ng dolyar dito to keep the economy afloat....

Hay naku! ....

9202:toothbrush:

[lenlen]

if we all want to swim on garbage and want to celebrate christmas on the streets,
then we should vote for villar.

[CVT]

Hayun,- panay na ang broadcast ng endorsement ni Pidol sa kanya....

9202:toothbrush: