Philippine Economy Talk

[shadow]

seryoso kayo?

boohoo?

OMG hindi tao yan

when jut703 said



he meant "so Cathy knows someone who had to move out of Forbes and live in an Avida condo... kawawa naman i'm gonna cry boo hoo hoo"

Sarcastic na iyak.


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[_Cathy_]

OT: Ang boohoo si UF when her parents told her that they might transfer to Alabang. She was so distraught because it is too far daw and she has to go through traffic and pay toll. Mahirap naman talaga ma uproot pero maganda pa rin naman lilipatan nila, malayo lang. Buti di natuloy.

BTT: Ano kaya plan ni psycho to help our economy. I hope the unemployment won't be too high. At ayoko masama sa statistic!

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[uls]

^^^

ung nawalan/mawawalan ng trabaho wala na magagawa ang gobyerno diyan

ang magagawa ng gobyerno gumawa dapat sila ng programa similar to US unemployment insurance

the gov't should put money in the pocket of those who lost their jobs

it will act as economic stimulus coz the money will support end-user consumption

(our economy is consumption-driven)

[jut703]

^^^

ung nawalan/mawawalan ng trabaho wala na magagawa ang gobyerno diyan

ang magagawa ng gobyerno gumawa dapat sila ng programa similar to US unemployment insurance

the gov't should put money in the pocket of those who lost their jobs

it will act as economic stimulus coz the money will support end-user consumption

(our economy is consumption-driven)

This is an alternative take on how to keep the economy afloat during the pandemic:

Why we're seeing mass layoffs in the US but not the UK - YouTube

US: Lets you get fired, lets companies fold; gives you money to tide you over until you find your next job (if there would still be jobs available).

UK: Gives firms money to keep operating (and thus no layoffs); avoids firms from going under and disrupting the economic chain.

In our case that would mean gov't giving incentives for PAL, SM, PLDT, ABS-CBN, etc to keep employing its people even if revenue is down, so they don't have to get fired, look for new jobs, and get trained again, which is a lengthy and stressful cycle altogether.

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[uls]

This is an alternative take on how to keep the economy afloat during the pandemic:

Why we're seeing mass layoffs in the US but not the UK - YouTube

US: Lets you get fired, lets companies fold; gives you money to tide you over until you find your next job (if there would still be jobs available).

UK: Gives firms money to keep operating (and thus no layoffs); avoids firms from going under and disrupting the economic chain.

In our case that would mean gov't giving incentives for PAL, SM, PLDT, ABS-CBN, etc to keep employing its people even if revenue is down, so they don't have to get fired, look for new jobs, and get trained again, which is a lengthy and stressful cycle altogether.

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well yeah that will work

but the optics...

it will look like the gov't is bailing out taipans

the media will jump all over that specially Rappler (not to mention anti-du30 socmed)

and besides, many of the layoffs are from small businesses

meron naman SSS Small Business Wage Subsidy (SBWS) to keep employees on the payroll but the one time P8,000 isn't enough

[uls]

basically the gov't has to spend tons of money to support the economy

kaya mga news writer who keep pointing out lumalaki ang utang ng gobyerno i wanna ask them what the alternative is

may graph pa sila showing gov't debt from the time of Marcos

during this crisis, governments around the world are spending a lot of money to support their economies

this isn't unique to PH

[shadow]

For me piliin nila yun dapat I-bail out na malaking companies. hinde pwede lahat i-prioritizes din nila per industry.

As for kung paano mas important isang industry over the other. Hinde ko alam, siguro manufacturing that employs more low income workers
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[Ry_Tower]

For me piliin nila yun dapat I-bail out na malaking companies. hinde pwede lahat i-prioritizes din nila per industry.

As for kung paano mas important isang industry over the other. Hinde ko alam, siguro manufacturing that employs more low income workers
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Salary and incentive re-structuring too so that expenses could go down thus less need of funds for bail-out. Everyone will need to sacrifice during this time imho.

[shadow]

Salary and incentive re-structuring too so that expenses could go down thus less need of funds for bail-out. Everyone will need to sacrifice during this time imho.

Mahirap salary re-structuring. Alam mo naman pag nag adjust mahirap na ulit ibalik.


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[jut703]

well yeah that will work

but the optics...

it will look like the gov't is bailing out taipans

the media will jump all over that specially Rappler (not to mention anti-du30 socmed)

and besides, many of the layoffs are from small businesses

meron naman SSS Small Business Wage Subsidy (SBWS) to keep employees on the payroll but the one time P8,000 isn't enough

It doesn't have to be exclusively taipans. Pati mga Nuat Thai, Brunos Barbers, pati yung hardware store sa kanto, etc etc. Essentially any business (big or small) that has been unable to operate due to the pandemic should receive a subsidy to continue paying wages. Govt can make a priority call depending on which industries are most vulnerable and pour in aid there first.

It allows the businesses to continue on life support as we wair for the economy to get better. It's targeted towards keeping the economy afloat, as opposed to the US method which targets to keep individuals afloat (it's inherently not designed to support a crashing economy).

What it doesn't account for though is the gravity of the situation of the individual. Since you're bailing out industries, you don't know if there was an industry that wasn't prioritized that actually employed somebody who was one meal away from starvation, while the industry you bailed out actually had employees who could still make it through the week.

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[12vdc]

Do you still people believe that this government will care and bail you out??

After what happened to 11k jobs lost at ABS-CBN and closure of Honda earlier? All this government want is your money and China thru loans and more taxes. No long term solution as long as the people and gov't are stupid.

I don't believe in this government a loong time ago, i just pay my taxes to belong.

[uls]

actually the US has a program for small businesses to not layoff workers during this crisis

PPP

Paycheck Protection Program

[uls]

Do you still people believe that this government will care and bail you out??

After what happened to 11k jobs lost at ABS-CBN and closure of Honda earlier? All this government want is your money and China thru loans and more taxes. No long term solution as long as the people and gov't are stupid.

I don't believe in this government a loong time ago, i just pay my taxes to belong.

during the lockdown DOLE gave out P5,000 to workers, SSS sbws gave out P8,000, SAP

di ko alam kung may business ka o may kilala ka may business baka pwede ka magtanong tanong you'll find out totoo ang mga programang yan

meron talaga natatanggap na cash mga tao... hindi bailout pang tawid gutom lang

kahit papano may konting tulong yan cash sa economy coz it got spent and went into circulation

ang discussion dito ano ginagawa / gagawin / magagawa ng gobyerno para suportahan ang economy

Sir minsan... kahit minsan lang... baka pwede ka mag post without hatred and heavy political bias

your hatred towards the gov't and China has consumed your entire being dunno how you can live like that everyday

[uls]

going forward i'm sure the gov't will come up with some stimulus program

dunno if they'll give money to companies keep workers on the payroll

or give money directly to laid off workers

but there will be something

[glenn_duke]

Do you still people believe that this government will care and bail you out??

After what happened to 11k jobs lost at ABS-CBN and closure of Honda earlier? All this government want is your money and China thru loans and more taxes. No long term solution as long as the people and gov't are stupid.

I don't believe in this government a loong time ago, i just pay my taxes to belong.

Nagsimula na govt assistance diba? SAP first trench, DOLE salary subsidy, SSS and GSIS calamity and salary loans.
May mga hindi nabigyan dahil narin sa endemic na incompetency ng govt institutions like DSWD and entrenched corruption ng mga baranggay.
But I believe even the pinaka tamad na tambays ay nakinabang.

Sa SMEs naman, umusad na yung micro loan assistance, kaso lang daming kailangan, hindi suffice yung busines permit, pati ITR or income statement kailangan to prove na existing yung busines mo before covid.

What I dont agree ay yung i bail out yung mga multi national, basahin mo mga financial statement or disclosures ng mga yan billions ang NET Profit ng majority nyan.
Pag binigyan ng gobierno ng pera yan gagamitin lang nila sa ibang investment yan.

And against ako sa salary cuts, maybe sa executive level. Although may mga kakilala akong VP-AVP level ng multi-national na open sa salary cut but nawalan parin ng trabaho.

Bottomline is, bankrupt ang gobierno, walang tax na pumapasok, and covid is an on-going nationwide tragedy kaya govt is bleeding continuously.

Kailangan i open ulit ng gobierno yung overseas job market, tanggalin na restriction sa deployment ng health workers.


And thank you for paying your tax

[_Cathy_]

during the lockdown DOLE gave out P5,000 to workers, SSS sbws gave out P8,000, SAP

di ko alam kung may business ka o may kilala ka may business baka pwede ka magtanong tanong you'll find out totoo ang mga programang yan

meron talaga natatanggap na cash mga tao... hindi bailout pang tawid gutom lang

kahit papano may konting tulong yan cash sa economy coz it got spent and went into circulation

ang discussion dito ano ginagawa / gagawin / magagawa ng gobyerno para suportahan ang economy

Sir minsan... kahit minsan lang... baka pwede ka mag post without hatred and heavy political bias

your hatred towards the gov't and China has consumed your entire being dunno how you can live like that everyday

Sa Makati P5000 EACH resident, and it's for everyone, not just low income families. Yung Uncle and Aunt ko, they're really well off, nauna pa magbalita samin na credited na LOL

I realized yung LGU makes a huge difference. Swerte residents ng Pasig, Valenzuela, Marikina and all other cities with competent LGUs.

[uls]

Sa Makati P5000 EACH resident, and it's for everyone, not just low income families. Yung Uncle and Aunt ko, they're really well off, nauna pa magbalita samin na credited na LOL

I realized yung LGU makes a huge difference. Swerte residents ng Pasig, Valenzuela, Marikina and all other cities with competent LGUs.

yeah pati mga LGU nagbigay din ng cash

--

ung DOLE 5000 was one of the first programs to give cash to workers

the payout was via Palawan pawnshop

--

all i'm saying is those gov't programs are real

people really received cash from the gov't

di fake news yan as some people are trying to imply

[12vdc]

Long term ba yan uls o survival for this covid season lang? Kung pang tawid covid lang yan, every government is doing that already. I know you're also a businessman/economist so how about if the government give incentives to the dying industries. Set aside political vendettas, help everyone in the industry that employs people. Give priority to health, education, agriculture.
Pass a bill that only taxpayers could vote and decide for the future of this country, etc..

I don't know how but that is the job of the government people. That is how taxmoney should be spent, long term, self sustaining, sustainable.

[uls]

the past 2 or 3 days we were talking about the damage caused by ECQ to the economy (which i've been posting about for weeks)

the emergency gov't spending programs are not permanent -- it's only to keep the economy alive / lessen the damage

the economy right now is like a person who lost a lot of blood and those emergency spending programs are only blood transfusions to keep the person alive

we're not talking about politics right now

--

btw i do not believe in gov't keeping dying industries alive

if a country is not competitive in... say... auto manufacturing or steel production, don't keep throwing money at those industries sayang lang ang pera

tanggapin nalang na hindi natin linya yan

that's another topic for another time

[uls]

going forward i'm sure the gov't will come up with some stimulus program

dunno if they'll give money to companies keep workers on the payroll

or give money directly to laid off workers

but there will be something