THE most harmful legal provision of all

[uls]

our poor government depends on foreign borrowings to continue operating.

If the bankers cut off the flow of money, the gov't will collapse.

The gov't knows it.

The bankers know it.

Who is at who's mercy?

Repeal the debt servicing law?

sure... the bankers shut off the valve. No more loans.

The gov't ceases to function.

Anarchy in the streets.

Philippines = Somalia

[Flagg]

Repeal the debt servicing law?

sure... the bankers shut off the valve. No more loans.

The gov't ceases to function.

Anarchy in the streets.

Philippines = Somalia

I nominate myself as dictator for life. Ah, teka lang, there are many politicos both richer and with more guns than me... takbo nalang ako to my safe haven.

[tidus1203]

Debt to Equity swap is one of the latest approaches here....

6000:mobile:

Kulang nalang pati kaluluwa natin benta na natin sa rich masters.... Para din tayong alipin, di makabayad ng utang akin ka na That's why I hate debt both on a personal level and national level. Debt is slavery. So guys wag umutang beyond your means. Kung di nyo kaya bilin, di nyo kaya bilin period. Wag nang ibenta ang kaluluwa sa mga bangkero....

[uls]

I nominate myself as dictator for life. Ah, teka lang, there are many politicos both richer and with more guns than me... takbo nalang ako to my safe haven.

Can't beat them? Join them.

Mag aaply nalang ako sa pinaka siga na warlord.

[coiter]

ngek. repeal? uutang tayo tapos hindi natin babayaran? parang puv driver a. babangga tapos kamot ulo na lang.

ikaw ba kung may umutang sayo, pauutangin mo kahit wala syang guarantee na babayaran ka? o kaya pinautang mo isang tao dahil nagguarantee sya. tapos after a few years sasabihin nyang "ay di na pala kita babayaran", papayag ka ba?

dapat kasi ayusin yung paghabol sa may sala sa pagwaldas ng inutang na pera. hindi yung paparusahan mo yung nagpautang. it doesn't make sense.

but i'm in favor of charter change.

[jpdm]

Well, the insatiable appetite for foreign goods of Pinoys can be partly blame for this problem...

....we buy more (import more)that we sell (export) in the global market...

..so we need money to finance our importations...($ 7 billion dollars last year!!My GOD!!Sayang yung foreign exchange na nawala sa atin.China $200 billion dollars surplus naman. Kaingit dami nila pera))

...with less export..there will be no money to pay for the imports...

...so we resort to loans...

...year after year...imports are bigger that exports....

...loans that we use to pay for the imports are not paid...

...or paid by asking for more loans....

...our dependence on imports made us over dependent on foreign loans...

...if we started to default from our loans...

...we will lose our credit-worthiness or credit standing.....credit (wala ng magpautang)then will ground to a halt...

...no money, no goods....

...we are dead.

.....we are condemned to be in this rut for many years to come unless we reduce our importation and make our country more productive, self-sufficient specially in food and energy (relatively, even in industrial products) and industrialized
...