Philippine Economy Talk

[dreamur]

The bad things just keep rolling out...

Yup, like my DDS in-laws who lost their jobs yet still singing high praises to digong. Dinamay pa sister ko sa kabobohan nya. [emoji36]

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[dreamur]

Extinction

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[uls]

may option naman mga mayaman

huwag lumabas ng bahay hanggang magkaroon ng vaccine

[dreamur]

may option naman mga mayaman

huwag lumabas ng bahay hanggang magkaroon ng vaccine

Isa ka na dun uls. Sabi mo okay lang hindi magbubukas business nyo hangang december.

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[jut703]

Dito ba sa Tsikot merong severely impacted yung kabuhayan because of COVID? Parang kung magpost naman mga tao, immune sila sa COVID kahit naka ECQ.

I would assume the employees here are ok. Hindi naman arawan mga member dito. Yung mga may negosyo sinasabi ok naman sila kahit hindi magoperate and may pera naman.

It's really the lower income Filipinos that are affected. We are all facing the same storm but we definitely aren't on the same boat.

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[dr. d]

i like that!
same storm, different boat.

[yubby24]

i like that!
same storm, different boat.

Same image I saw hile browsing 9gag.

[_Cathy_]

i like that!
same storm, different boat.

I don't think about money issues anymore, sort of in denial of what is happening and I just focus on what makes me happy like crush. Napakamalas kasi this is the WORST time to lose a job, and it's a job that I love. Crush has an idea of my family's finances and he told me we stand to lose 30%. Ewan ko talaga saan ako pupulutin, I hope 2021 will be kinder. This is very Filipino... bahala na.

[uls]

jut703:

Dito ba sa Tsikot merong severely impacted yung kabuhayan because of COVID? Parang kung magpost naman mga tao, immune sila sa COVID kahit naka ECQ.

I would assume the employees here are ok. Hindi naman arawan mga member dito. Yung mga may negosyo sinasabi ok naman sila kahit hindi magoperate and may pera naman.

It's really the lower income Filipinos that are affected. We are all facing the same storm but we definitely aren't on the same boat.

i'm the one who's super concerned about the economy and wants the lockdown lifted

somebody here was repeatedly implying that i'm in financial trouble kaya gusto ko ma-lift ang lockdown

hindi naman ma-bring up ung tungkol sa ganun if somebody wasn't repeatedly trolling

actually he's the one who's implying that he's so rich he can survive a lockdown no matter how long it lasts

#matira_ang_whatever

[uls]

even if you're on the biggest boat (coz you got billions in the bank)

when the banks fail you'll end up in a life boat

[Sweetlucious]

Actually if you’re in a bigger boat you have bigger waves to hurdle.

Personally think that low/mid level employees are the most resilient.

They don’t have much investments, they still don’t own/co-own/partnered in businesses. All they have to worry are household expenses. If you compare household expenses to business expense, its peanuts.

The lobbyists now for businesses to start opening are rich guys. Mayaman ang nagwoworry. Yun medya-medya ang di namomroblema.

[Ry_Tower]

even if you're on the biggest boat (coz you got billions in the bank)

when the banks fail you'll end up in a life boat

But that definitely won't happen. If the Philippines is facked, they'll just go somewhere else.

The spanish flu was way worst, yet the world recovered.

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[jut703]

jut703:



i'm the one who's super concerned about the economy and wants the lockdown lifted

somebody here was repeatedly implying that i'm in financial trouble kaya gusto ko ma-lift ang lockdown

hindi naman ma-bring up ung tungkol sa ganun if somebody wasn't repeatedly trolling

actually he's the one who's implying that he's so rich he can survive a lockdown no matter how long it lasts

#matira_ang_whatever

I agree that we should be looking at the situation as a whole as opposed to just the immediate effects to us personally.

Also unproductive to be goading people to say that they are pushing one direction over the other even if it doesn't affect them as cognitive dissonance, so wag nalang patulan.

It's prudent to slowly restart the economy, but the big prerequisite is to have mass testing and contact tracing. This is how other countries are able to resume the economy while still taking care of its citizens. Until we have that, people will always clamor against economic normalization.

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[dreamur]

jut703:



i'm the one who's super concerned about the economy and wants the lockdown lifted

somebody here was repeatedly implying that i'm in financial trouble kaya gusto ko ma-lift ang lockdown

hindi naman ma-bring up ung tungkol sa ganun if somebody wasn't repeatedly trolling

actually he's the one who's implying that he's so rich he can survive a lockdown no matter how long it lasts

#matira_ang_whatever

Oh cathy nagpaparinig. Diba i-ban mo?

#matira_ang_tunay_na-lalaki

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[boybi]

Dito ba sa Tsikot merong severely impacted yung kabuhayan because of COVID? Parang kung magpost naman mga tao, immune sila sa COVID kahit naka ECQ.

I would assume the employees here are ok. Hindi naman arawan mga member dito. Yung mga may negosyo sinasabi ok naman sila kahit hindi magoperate and may pera naman.

It's really the lower income Filipinos that are affected. We are all facing the same storm but we definitely aren't on the same boat.

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We have franchised businesses (restaurants and spas). Most probably mabankrupt na spa. Restos naman, if maging take out and deliveries pa din until year end, sarado na din.

Ano magiging effect ng covid crisis sa banking system? What if madami mag default sa mga loans? What will happen to lending rates? TD rates?

How about currency market?

[uls]

Ano magiging effect ng covid crisis sa banking system? What if madami mag default sa mga loans? What will happen to lending rates? TD rates?

How about currency market?

definitely madami mag default sa loans

banks are getting ready for that

(pero before default mag restructuring muna)

BSP will stand behind the biggest commercial banks

worst case BSP will print money to buy bad loans to save the banks

--

naka ilan rate cut na ang BSP... lending rates should be lower

depende na sa bangko if they will pass the lower rates to clients

if you're creditworthy naman you'll get low rates

--

coz BSP lowered rates, damay ang rates paid on savings, TD

--

USDPHP

problema pag humina ang pasok ng $$$ dahil madami OFW nawalan ng trabaho

[boybi]

If BSP will print money to buy the debts, di ba tatas inflation natin?

Re: currency, of if few USD getting here, means tataas USD vs PHP. Patay naman nyan import business.

[uls]

it's hard to create inflation when the economy is experiencing negative growth

if BSP will print money to take bad loans off banks' books, that's only to stabilize banks

i don't think banks will go on a lending spree after that

--

pag humina ang PHP tataas ang import prices that's gonna cause inflation

but if the economy is weak there won't be a lot of demand for imports

[jut703]

In light of the pandemic, it seems that maintaining your current income is already the best-case scenario. We see so many sectors affected - restaurants, tourism, events, recreation, automobile, petroleum, and so on.

We see some sectors holding - mostly essential food and household goods, hygiene products, healthcare.

But have not seen any booming sectors (i.e. businesses growing sustainably faster than pre-covid times). Everyone is just struggling to stay afloat. Millions have lost their jobs or have significantly reduced their income. Many SMEs have taken such big financial hits that they might not be able to reopen.

Even if the economy does indeed reopen, it'll be a while before consumption returns back to pre-covid levels. What doesn't help is our government's slow and uncoordinated response.

We lose 18B per day that we are on ECQ as the economy continues to suffer. That is an expensive cost compared to what it takes to restart the economy - mass testing and contact tracing.

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[uls]

yes JUT703

grabe ang damage

understand why i was sounding the alarm in this thread