Financial Crisis: The Philippine Version

**tidus1203** · October 29th, 2008 10:02 AM

Mga militante kasi laging asa sa gobyerno di marunong umasa sa sarili. I think what the government is saying is we will not see massive layoffs here. And wala nga naman so far... Only the stock markets got hit but its only the rich who gets hit anyway normnal folks don't own stocks.

**jpdm** · October 29th, 2008 10:16 AM

Originally Posted by tidus1203

Mga militante kasi laging asa sa gobyerno di marunong umasa sa sarili. I think what the government is saying is we will not see massive layoffs here. And wala nga naman so far... Only the stock markets got hit but its only the rich who gets hit anyway normnal folks don't own stocks.

Yup not only militants but also those rich people who keeps on robbing our public coffers dry...

At least militante, barya barya..500 pesos, NFA rice, dole outs....

E yung mga hindi militante, mga mayayaman, nakabarong, naka SUV pa nga e ....mas malaki asa sa gobyerno...

...ZTE deal....

...Comelec's palpak na 1.2 billion peso computerization

...and other rigged contracts and government biddings

...large scale smuggling sa free ports...

....large scale technical smuggling using custom bonded warehouses or plain misdeclarations.... (with approval from corrupt BOC men)

....tax evasion and tax avoidance....

.....unauthorized used of public funds ( transport allowance, food allowance, travel allowance)

...100-200 million tongpats...

...6.9 million contigency fund sa pasyal nila sa Moscow...

...800 million fertilizer fund para sa kampanya....

...di ba...

...isipin mo kung yung bilyones na yun napunta sa real investments tulad ng infrastructure and security (equipments for our PNP to maintain peace and order and make the investment climate in the Philippines alot better)..

...di ba, e di mas matibay Pinas sa financial contagion na yan...

**tidus1203** · October 29th, 2008 10:25 AM

Well those are the government officials who are robbing the coffers and I am not for them too! But what can you do? Life goes on. Kaya wala na akong pakialam dyan as if naman may magagawa ka. I only care about how I can uplift myself and rather spend time on that rather than waste time on the government and other people.

**jpdm** · October 29th, 2008 10:29 AM

Well, this is OT sa kabilang thread, e di magdasal ako together with the bishops who are denouncing the large scale corruption in the philippines...

Anyway,

in the end, ang gobyerno takbuhan...

...lkatulad sa US.....

**jpdm** · October 29th, 2008 10:33 AM

Originally Posted by tidus1203

Well those are the government officials who are robbing the coffers and I am not for them too! But what can you do? Life goes on. Kaya wala na akong pakialam dyan as if naman may magagawa ka. I only care about how I can uplift myself and rather spend time on that rather than waste time on the government and other people.

Will you not care about your love ones?Kapibahay?kaibigan? kapwa Pinoy?

Di ba dapat tulong tulong tayo as a nation to survive these contagion...

Paano kung may business ka, ang bumibili lang mga kapit bahay mo...dahil di mo tinulungan walang pera..paano pa sila bibili sa iyo?

**uls** · October 29th, 2008 10:39 AM

hehe

what they're doing isnt right (the corrupt govt people)

but that's their diskarte

they have something the poor, the powerless, the militants don't have

they have high positions in govt... that's their survival advantage...

They got to be in those positions by fighting their way to those positions.

They won elections... they bought elections... they cheated... whatever... they simply beat their opponents...

Whichever way you look at it, it's still Darwinian natural selection.

You can deny it all you want.

But the fact is, it is survival of the fittest out there.

It aint pretty

It's harsh, it's brutal

but that's the way of the world.

**jpdm** · October 29th, 2008 10:48 AM

Originally Posted by uls

hehe

what they're doing isnt right (the corrupt govt people)

but that's their diskarte

they have something the poor, the powerless, the militants don't have

they have high positions in govt... that's their survival advantage...

They got to be in those positions by fighting their way to those positions.

They won elections... they bought elections... they cheated... whatever... they simply beat their opponents...

Whichever way you look at it, it's still Darwinian natural selection.

You can deny it all you want.

But the fact is, it is survival of the fittest out there.

It aint pretty

It's harsh, it's brutal

but that's the way of the world.

So corruption and this financial contagion can be explain by your Darwinian Theory on Capitalism and Corruption....

**tidus1203** · October 29th, 2008 10:51 AM

Originally Posted by jpdm

Will you not care about your love ones?Kapibahay?kaibigan? kapwa Pinoy?

Di ba dapat tulong tulong tayo as a nation to survive these contagion...

Paano kung may business ka, ang bumibili lang mga kapit bahay mo...dahil di mo tinulungan walang pera..paano pa sila bibili sa iyo?

No I don't. I care about my love ones but only them. To hell with the guy on the street if he dies of hunger. People buy my products for my products but not because of me, so as long as my products are top notch people will buy. There will always be people who will have the money and it might not be my neighbor. I may sound cold, but the world is cold.

**uls** · October 29th, 2008 12:27 PM

So corruption and this financial contagion can be explain by your Darwinian Theory on Capitalism and Corruption.... Darwinian natural selection explains everything

Corruption:

Where can u steal the most money?

At the top. (president level)

How do get to the top?

You fight your way to the top.

sa 2010, ilan ang tatakbong presidente?

ilan ang magiging president?

hindi ba survival of the fittest yan?

**niky** · October 29th, 2008 01:32 PM

Ahem... seeing as we're veering off-topic... (and such topic of rich versus poor should be in another thread... and as to whether I'd pay revolutionary taxes or government taxes? Seeing as I benefit from neither? Hmmm... let me think about it...

)

While I have often been outspoken in my criticism of PGMA's policies... the whole crisis thing can't be blamed on them... it really is a global catastrophe in the finance markets, and not something we are in a position to stop.

But it also exposes the fact that a lot of the gains touted by the administration weren't as big as they'd lead us to believe.

The fundamentals are also not as strong.

But still, I believe the Philippines can weather this storm... we already hit basement level in the 80's once... when we got hit with the massive debt the Marcoses left behind... then in the mid-90's with the Asian financial crisis... our position now is bad, but not as bad as those two previous times, and not categorically worse than it is for all the countries around us.

The current government could have minimized this by controlling currency. Let it float to a high level then allow that to encourage investors to come in... foreign businesses to set up shop locally and hire local labor.

There's something that was also exposed in the escalation of food costs that accompanied excessive fuel demand last year... the utter lack of spending on development for agriculture here in the Philippines.

On projects which would empower the regional poor... instead of patently expensive ones (ZTE) that would benefit only government contractors.

Oh... hell... thinking of those billions lost to kickbacks and useless projects... billions that we now don't have to shore up our economy... yeah... maybe it would make sense to get pissed at the government right now...