The Search : -
Out of poverty (series)
Pending US economy recession
24-Jan-2008 01:57 AM
The Philippines economy as a whole don't really mine if there's pending US economy,
I mean who cares if the Americans will loose there job and can't pay there bills?
But on the contrary I my self mine, if the prediction is correct, there will be lots of things that will happen to the Philippines.
I call it the domino effect.
The news of the stock market record down is relayed to me by my brother; actually I expect it to happen. The downing of real estate in the US shows me a sign. What will happen when some investments on the real estate got sour, who will shoulder the damages it will create? The toppled real estate is the indicator that another economic domino will also fall. But what I did not see is that, can the fall resulted to an economic melt down. This is what the world leaders have seen. That's why they gather together and conduct economic meetings. President Bush also announces a meeting with the congressmen.
I tell you this is really serious stuff.
But here in the Philippines, some are smiling to the ears.
The economic news has created a kind of double effect.
Because of the news the dollar to peso exchange have resulted very acceptable good news.
Today the dollar is $1=P41.10 and really the advantage for this comes from the OFW, on which by the way have been hurting to a low dollar exchange.
Think of it:
If the foreseen US economy melt down do occur, peso to dollar will change.
Back in the time of former President Estrada, the peso is reportedly reach P50=$1
Although the Philippine economy as a whole hurt, a sector of the Pilipino is earning much. Many have sell there dollars that time and even reportedly become richer.
On the lighter side:
What do Former President Estrada and the dollar have in common?
There seen coming back to the high level.