Philippine Economy Talk

[jut703]

Was in The 30th yesterday. Wala talagang tao parang ECQ lang din. Wala na ngang tao when the economy was ok, paano pa ngayon.

Unfortunately ilang milyong negosyante muna malulugi at maghihirap bago tamaan mga tycoon.

I've never heard of anyone from the Forbes Top 100 Filipinos (kahit gawin mo pa siguro top 10,000) na nung nalugi negosyo naging middle class nalang. Meron at merong backup yan. Kung malugi negosyo may koneksyon pa rin to start up some new business.

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[_Cathy_]

Was in The 30th yesterday. Wala talagang tao parang ECQ lang din. Wala na ngang tao when the economy was ok, paano pa ngayon.

Unfortunately ilang milyong negosyante muna malulugi at maghihirap bago tamaan mga tycoon.

I've never heard of anyone from the Forbes Top 100 Filipinos (kahit gawin mo pa siguro top 10,000) na nung nalugi negosyo naging middle class nalang. Meron at merong backup yan. Kung malugi negosyo may koneksyon pa rin to start up some new business.

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10,000 marami din "naghihirap" even before the ECQ. Off the top of my head, I know 3 who moved from 9 digit worth houses (I would classify that as rich) into less expensive areas. Recently, my Mom's HS classmate who lives in a 1,000+ square meter house in Makati, the mother died, siblings decided to sell the family home and her portion was only enough to buy a condo near the old home. Hindi rin safe mga mayayaman, unless nga top 1000 or tycoon level...

[jut703]

10,000 marami din "naghihirap" even before the ECQ. Off the top of my head, I know 3 who moved from 9 digit worth houses (I would classify that as rich) into less expensive areas. Recently, my Mom's HS classmate who lives in a 1,000+ square meter house in Makati, the mother died, siblings decided to sell the family home and her portion was only enough to buy a condo near the old home. Hindi rin safe mga mayayaman, unless nga top 1000 or tycoon level...

Yes merong mga significantly natamaan. But if you had 500M and you lost 99% of all your money you'd still have 5M and that is still far, far more than what the average Filipino has.

Boohoo had to move out of Forbes to live in an Avida condo. Millions will never even be able to afford an Avida condo, even if they work hard for 30 years.

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[_Cathy_]

Yes merong mga significantly natamaan. But if you had 500M and you lost 99% of all your money you'd still have 5M and that is still far, far more than what the average Filipino has.

Boohoo had to move out of Forbes to live in an Avida condo. Millions will never even be able to afford an Avida condo, even if they work hard for 30 years.

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But still that's not something a 70+ yr old should experience, she's too old to have to adjust to a new lifestyle, she is widowed with all her children living abroad. I think downgrading one's lifestyle is a tragedy,no matter the income class.

I do hope Filipinos will be able to bounce back kaagad from this nightmare pandemic

[Deestone]

Yes real estate prices is on lockdown sale right now due to the pandemic. Anyone interested buying a condo in roxas blvd and mall of asia while on sale? Just let me know im selling mine and will give commissions for referral. Need to liquidate a bit....

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[papi smith]

Who is boohoo?

[dreamur]

Who is boohoo?

Hehe...tdk siguro yan bro. [emoji23][emoji23][emoji23]

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[dr. d]

Who is boohoo?

if it's a famous person's circumstantial nickname, i do not recognize it.
perhaps it is a generic person whose fortunes have dictated his "moving out"...?

[uls]

seryoso kayo?

boohoo?

OMG hindi tao yan

when jut703 said

Boohoo had to move out of Forbes to live in an Avida condo. Millions will never even be able to afford an Avida condo, even if they work hard for 30 years.

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"

[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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[tsupermario]

kapatid ni booyah

[_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

[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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[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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