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WELCOME FRIENDS TO MIKEY GATAL'S WORLD => BREAKING NEWS => Topic started by: OMG on March 25, 2008, 12:43:58 PM

Title: Coming financial crisis will make times much harder, warns economist
Post by: OMG on March 25, 2008, 12:43:58 PM
Written by Lala Rimando   
Monday, 24 March 2008

Expect the coming months to be tough, warned an economics professor. And the tough times may start next month.

"It's going to be a hard year for us. Everyone will be affected. And the hurt will be deepest among the low-income families," Ernesto Pernia, a professor of economics at the University of the Philippines and former economic chief at the Asian Development Bank told abs-cbnnews.com/Newsbreak in an interview.

The United States, a major destination of our export products and the host of overseas Filipinos whose dollars account for half of total remittances to the country, is facing a looming economic recession or growth slowdown. 

"We will probably start feeling the impact of the US slowdown by the second quarter, which is April to June, and up to the third quarter of 2008," added Pernia. "It also depends on how the US government stirs its economy. If they (US) don't recover by the third quarter, then most probably the Philippines will go through hard times the rest of 2008."
WORSE THAN 1997 ASIAN CRISIS

Pernia's prognosis describes a gloomy year never experienced by Filipinos in the past. Unlike the Asian crisis eleven years ago, which only hit Asian economies including the Philippines, this one is not just a regional financial crisis but a global one. "Brace yourself for difficult times ahead," Pernia cautions.

The US economy is feared to be entering either an economic recession, defined as two consecutive quarters of negative growth, or a growth slowdown, which is like putting on the brake to the superpower's economic growth to a point that it will decelerate to just less than one percent.

This will have an impact on all aspects of the Philippine economy—from generation of jobs to remittances to prices of basic goods.
LESS U.S. DEPENDENT

While we have become less dependent on the US as a buyer of our products for export—the US accounts for only 17 percent now, compared to up to 30 percent in the past—we are selling a wide range of finished products and raw materials from electronics to furniture to countries like Japan (about 20 percent of our exports), recently to China and Hongkong (about 27 percent), and to a small extent to Europe.

These countries also sell to the US. Thus, while analysts and economists were betting on the rise of other possible superpowers like China and India, the slowdown or the recession in the US shows how intimately intertwined they all are.
PESO-DOLLAR NOT BELOW P40

The impact of a slowing superpower to the Philippines will be pervasive, says Pernia.

Take the twin case of peso-dollar exchange rate and the remittances from overseas workers. The $12 billion annual remittances account for 12 percent of our gross domestic product, or the overall measure of the state of the local economy.

But despite the sharp weakening of the dollar, the peso has not been appreciating as much. The central bank has said it is allowing the market conditions to prevail.
OFWs STRETCHED TO THE LIMIT

Pernia believes that the capacity of the overseas Filipinos to remit money home is being stretched to the limit because the peso equivalent of their previous remittances is just too much for them.

"The income of these remitters is not elastic. They cannot just continue to catch up. In other words, they are reaching their limit, and they cannot catch up," explained Pernia.

The peso has lost about 30 percent of its value against the dollar since early last year.

In addition, Pernia thinks that the host countries of the OFWs are also feeling the pinch, so some of the OFWs might have not received their usual salary increases, or worse, have been laid off, or are just working part time now.

About 50 percent of total remittances to the Philippines come from US and Canada. As the economies of other major host countries—Europe, Japan, Singapore, Middle East, Taiwan, Hongkong, etc—also slow down, Pernia thinks remittances to the Philippines will also be affected.

Thus, while it has been earlier predicted by bankers that the peso-dollar exchange rate will reach P38, Pernia thinks otherwise. "My prognosis for the peso is that it will probably oscillate between P40 and P43 or 45. I don't think the peso will go below P40, especially with this slowdown in the world economy."
NOT ONE SPARED

Every aspect of the economy will be affected, Pernia warns.

Foreign direct investments might slow down, and US investors will most probably have a wait-and-see attitude, with the possibility that a new administration will take over by the end of the year. "Both companies and the US government may not resume their investment spending or export and import activities in the meantime."
THREAT TO BPOs

That's a threat to the likes of the business process outsourcing (BPO) sector, a popular job provider. American clients still account for a big chunk of those that local BPO companies currently serve. BPOs have been a major stimulus for other sectors like real estate, retail, transport, and consumer goods.

The real estate sector has boomed in the recent years because of office space needs of the growing number of BPOs setting up shop not only in Metro Manila, but in other cities, like Cebu. Residential properties, on the other hand, have also been growing, partly because OFWs and their families have bought 20 percent of the available supply.

Both sources—investments and remittances—now stand to be affected by the slowing global economy.
EVEN TOURISM

Even the tourism sector, which had a banner year in 2007 with more than three million tourism arrivals, stands to be affected too.

"One of the elements of tourism is how much spare income these foreigners have. They come from South Korea, the US, China, Japan, which will all be affected (by the global economic slowdown). Even balikbayans will most probably spend lesser money when and if they come home," Pernia said.
HOW DEEP AND LONG

Given that the economic slowdown is just around the corner, inevitably the next concern is how deep will the fall be and how long will it take for us to recover.

Pernia expects that compared to our Asian neighbors, the Philippines will take longer to recover.

He recalls the 1997 Asian crisis: "The economies of Thailand, South Korea, and Malaysia went through a sharp downturn. But they also had a sharp upturn. It was V-shaped: deep fall, but a quick recovery."

The Philippines still posted a positive growth during that time, though a miniscule 0.5 percent. "But our rebound was very slow," he explained. "Most probably it will be the same this time.

Pernia attributed this to the fact we have a consumption-led economy, which is dependent on whether there will be more job-generating investments soon, and if the OFWs are able to send more money home.
NEIGHBORS HAVE CUSHION

Our neighbors, on the other hand, will be able to cope better because they have a lot of "cushion" already. "The economies of Thailand, Malaysia, Korea, even the likes of Cambodia and Vietnam, have been growing steadily, some actually in double digits, even before the Asian crisis. They might slow down, but their growth surplus in the past has gone into their economic base, which is cushioning them now. Their economic base is already solid for a quick recovery."

The Philippines, meantime, has had long periods of growth deficits. "A 7.3 percent growth last year is just a flash-in-the-pan. During the last seven years with [President Gloria Arroyo], the average growth rate is only 4.7 percent. That's not enough." Pernia said.

Pernia also notes other problems that will hamper a fast recovery for us: "We have a baggage of high population rate, low savings rate, low tax collection, low science and technology base. Then of course there is corruption. There are a lot of things are not going to our favor in terms of higher growth path."
POOR WORST HIT

What lies ahead then?

If the Philippine economy will be severely affected by the US economy's slowdown or recession, causing people to lose their jobs and making prices of basic commodities and transportation cost unaffordable, will these be enough to trigger social unrest?

Surely, a drastic economic slowdown in the Philippines will hit the poor, especially those in the lowest 40 percent of income distribution. When a restless and restive population connects the dots and blames the allegedly corrupt government officials for their hunger and strife, a recipe for disaster might be in the offing.
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: consuelo on March 25, 2008, 01:40:59 PM
oo nga ang dollars nga naman,bumaba na ng bumaba
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on May 08, 2008, 01:56:18 PM
i hate to hear this
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: Phoebe_Halliwell on May 08, 2008, 04:04:41 PM
2 yrs ago,ang laki ng palitan ng yen at dollar,10,000 yen is 5400 pesos yata.pero ano ang ginawa ko,nasa bohol lang ako at nagkanta kanta sa banda.hahaha

nya kron nga naa na ko diri,4000 nalang intawn ang 10,000 yen.pastilan gyud.
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on August 27, 2009, 04:08:54 PM
may maisasagot na naman si willy dito kasi expert sya nito
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: aiko on August 27, 2009, 06:50:38 PM
2 yrs ago,ang laki ng palitan ng yen at dollar,10,000 yen is 5400 pesos yata.pero ano ang ginawa ko,nasa bohol lang ako at nagkanta kanta sa banda.hahaha

nya kron nga naa na ko diri,4000 nalang intawn ang 10,000 yen.pastilan gyud.
ule utro Phoebz..kay ang yen is 52 baja  ;D
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on August 28, 2009, 10:40:51 AM
ule utro Phoebz..kay ang yen is 52 baja  ;D

pwede diay ko diha kay parehas ra man ang kita
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: aiko on August 28, 2009, 07:42:46 PM
pwede diay ko diha kay parehas ra man ang kita
kina puedehan mikey  ;D basin ma doble ma wid bonus  ;D
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on January 26, 2011, 05:11:47 AM
kina puedehan mikey  ;D basin ma doble ma wid bonus  ;D

barato na kaayo and fares going to Japan from Los angeles Airport
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on February 08, 2011, 01:00:54 AM
Not so, here in Australia. Situation is reversed. Aus$ is getting stronger and stronger. Expected to continue. Sheilas, wanna buy me? My price's surging.  :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on March 24, 2011, 08:27:51 PM
Sheilas, be warned!!!
Don't believe USA is a rich country. Its economy's bankrupt. It owes the world 3 trillion dollars. Skipper and Dawg are breaking their backs, working like doves, to pay off Uncle Sam's debt. Hehehe.
Instead, come to Aus. Don't believe in the govt propaganda on migration fraud (Pls see thread 'Aus Govt - Migration Fraud Summary). Me certainly can guarantee you a visa. A 'once in a lifetime' opportunity.
Oh, yes, we work like doves, too. Saving Aus endangered species - its human race. But it's a labour of love. Something we enjoy doing. ;D
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on March 24, 2011, 08:57:16 PM
"Life is a dream for the wise, a game for the fool, a comedy for the rich, a tragedy for the poor."  :) ;)   
- Sholom Aleichem
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on April 08, 2011, 08:43:28 PM
"If you want it, here it is come and get it
Mm, make your mind up fast
If you want it, anytime, I can give it
But you better hurry because it may not last

Did I hear you say that there must be a catch?
Will you walk away from a fool and his money?
If you want it, here it is, come and get it
But you better hurry because it's going fast" ;D ;D ;D
- song line from The Beatles 'Come and Get It'
Title: United States public debt
Post by: juan on April 20, 2011, 06:10:20 PM
Sheilas, be warned!!!
Don't believe USA is a rich country. Its economy's bankrupt. It owes the world 3 trillion dollars. Skipper and Dawg are breaking their backs, working like doves, to pay off Uncle Sam's debt. Hehehe.
Instead, come to Aus. Don't believe in the govt propaganda on migration fraud (Pls see thread 'Aus Govt - Migration Fraud Summary). Me certainly can guarantee you a visa. A 'once in a lifetime' opportunity.
Oh, yes, we work like doves, too. Saving Aus endangered species - its human race. But it's a labour of love. Something we enjoy doing. ;D

As of March 25, 2011, the Total Public Debt Outstanding of the United States of America was $14.26 trillion and was 97.3% of calendar year 2010's annual gross domestic product (GDP) of $14.66 trillion. No wonder skipper and Dawg have remained unmarried.  ;D ;D ;D
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on April 20, 2011, 07:37:13 PM
nagdedeposit ako ng money sa pinas banks para sa aking bakasyon but sad to know na may nagsara na naman like Banco Filipino
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on April 20, 2011, 07:57:53 PM
Banco Filipino! Lost some money there when Marcos shut it down. :'(
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on April 20, 2011, 08:04:16 PM
One reason chose Aus was because exchange rate was US$1.20 = Aus$1. Could send home more money. 3 yrs later, nosedived to US$0.57, 'coz of the opening of the iron mine in Brazil which has hi-grade iron ore deposit enough to supply earth for 500yrs. Competiting Aus, the biggest exporter of iron ore to Russia, China, and rest of Asia.
Also, a technological breakthrough in farming lead to surplus in USA. Rather than burn their surplus wheat, etc and slaughter their cows, etc, Uncle Sam subsidized farming in the form of reduced tariff. Leading to a drop in price. Again, competiting Aus, the largest exporter of these products to Russia, China, etc.

Has never recovered. But now, creeping up. Current rate is US$1.07. One advantage of living in Aus is its resilient ability. Yet another reason for sheilas to choose Aus instead of USA. Hehehe. :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on April 20, 2011, 08:51:42 PM
so, i believed that opening an account with Banco De Oro is still safe for overseas workers
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on April 20, 2011, 11:44:26 PM
With the current situation in Phil [and, for that matter, anywhere], best is to buy properties under another's name. Ie, someone you can trust. 'coz, one day, you might get married to a thief and ... you know. The risk here is, tingalig ma 1-2-3 ka. Know what me mean? Hehehe. :) ;)

My opinion only.
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on April 21, 2011, 01:56:57 AM
sakto pod ka, lisod na sa panahon karon
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on August 10, 2011, 08:30:00 PM
As of March 25, 2011, the Total Public Debt Outstanding of the United States of America was $14.26 trillion and was 97.3% of calendar year 2010's annual gross domestic product (GDP) of $14.66 trillion. No wonder skipper and Dawg have remained unmarried.  ;D ;D ;D

Latest USA debt figure is : $14.598 trillion. For updates, click http://www.usdebtclock.org/ :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on August 10, 2011, 10:41:04 PM
it is happening now
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: felix on August 11, 2011, 02:52:05 AM
saudi riyals rate is going downhill due to US dollars inflation
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on August 11, 2011, 06:08:19 PM
So’s the Aus$. From 1.1023 before the plunge to 1.03 this morning. Better spend my money on ABS. Hehehe. :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: felix on August 11, 2011, 10:34:11 PM
as Mark Cuban says' "there will be another CRASH"
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on August 11, 2011, 11:05:39 PM
it is happening now

What’s happening now? Your cattle farm? Gotta hurry. So, we can all go home and have something to do there rather than doing our own thing all the time. Hehehe. :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on August 11, 2011, 11:06:50 PM
as Mark Cuban says' "there will be another CRASH"

Been watching the usdebtclock. The figure just keeps going up, up, up, ... Doesn’t come down anymore! What’s going on?  ??? :o Uncle Sam must be eating lots of iguana meat.  ;D  ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: felix on August 12, 2011, 10:21:37 PM
the money's going to cold pockets
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on September 30, 2013, 07:47:15 PM
Sheilas, be warned!!!
Don't believe USA is a rich country. Its economy's bankrupt. It owes the world 3 trillion dollars. Skipper and Dawg are breaking their backs, working like doves, to pay off Uncle Sam's debt. Hehehe.
Instead, come to Aus. Don't believe in the govt propaganda on migration fraud (Pls see thread 'Aus Govt - Migration Fraud Summary). Me certainly can guarantee you a visa. A 'once in a lifetime' opportunity.
Oh, yes, we work like doves, too. Saving Aus endangered species - its human race. But it's a labour of love. Something we enjoy doing. ;D

Latest USA debt figure is : $14.598 trillion. For updates, click http://www.usdebtclock.org/ :) ;)
The Outstanding Public Debt as of 01 Oct 2013 at 02:02:28 AM GMT is: $16,744,316,784,559.36
No big deal. Only a marginal increase in debt.
 :) ;)
Been watching the usdebtclock. The figure just keeps going up, up, up, ... Doesn’t come down anymore! What’s going on?  ??? :o Uncle Sam must be eating lots of iguana meat.   ;D  ;)

Perpetual erection. ;D ;D ;D ;D ;D

Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on September 30, 2013, 08:10:06 PM
the money's going to cold pockets
And how about your Saudi money? ??? Where did it go? ??? :) ;)
Here!

(http://i300.photobucket.com/albums/nn3/BoholBizz/Female%20Celebs/073e5a54.jpg)(http://i300.photobucket.com/albums/nn3/BoholBizz/Female%20Celebs/828da0d2.jpg)
Cristine Reyes is one of the sexy and cutest stars in Philippine showbiz.
;D ;D ;D ;D ;D
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on September 30, 2013, 08:18:16 PM
it is happening now
Really? ??? You're joking. :) ;)
Title: More than just a financial crisis
Post by: juan on October 04, 2013, 12:46:24 AM
The Drum By Chris Berg Posted Tue 1 Oct 2013, 3:35pm AEST

While the policy ramifications of the GFC have been modest and reversible, we have been left with a deep cynicism about our economic and political institutions, writes Chris Berg.

Five years ago, the United States Congress was debating its $700 billion bank bailout bill.


Lehman Brothers had collapsed a fortnight earlier. Global share markets were in free fall. It was a time of panic.

But half a decade onwards it is clear the global financial crisis was a cultural crisis as much as an economic one. That's only natural. Assigning events with cosmic moral significance is part of the human condition.

In his famous crisis-era Monthly essay, Kevin Rudd said the economic downturn was so great that we were entering a new epoch in human history http://www.themonthly.com.au/issue/2009/february/1319602475/kevin-rudd/global-financial-crisis (http://www.themonthly.com.au/issue/2009/february/1319602475/kevin-rudd/global-financial-crisis) . But Rudd was positively restrained compared to what you heard on talkback radio and newspaper letters pages.

Take this letter http://www.theage.com.au/news/opinion/letters/we-can-blame-this-mess-on-our-genes/2008/10/13/1223749940831.html (http://www.theage.com.au/news/opinion/letters/we-can-blame-this-mess-on-our-genes/2008/10/13/1223749940831.html) , in The Age at the time, in which a professor of medicine speculates that our brains may need rewiring after the crisis. Meanwhile, this is a good example http://www.theage.com.au/federal-politics/greed-has-made-us-very-scared-20081007-4vt6.html (http://www.theage.com.au/federal-politics/greed-has-made-us-very-scared-20081007-4vt6.html)  of the typical hand-wringing column warning of the danger of greed and avarice.

All pretty ridiculous in retrospect. And all, of course, from the political left. Perhaps understandably so. The left's opponents had crowed for three decades that there was no alternative to deregulation and privatisation. Now those certainties seemed dead. The political high ground was up for grabs.

Well, for a bit. The financial crisis quickly morphed into a sovereign debt crisis. That development somewhat dirtied the otherwise clean political message. Turns out the societies most damaged by the crisis were not those who had let their markets run rampant but rather those whose governments had been unregulated by the norms of prudence and responsibility.

So much for the revolution.

The crisis has prompted some modest changes in economic policy - the renewed interested in Keynesian demand management, for instance - and has entrenched government deficits into the foreseeable future. None of these are welcome, but they are reversible.

But it seems likely that the most significant long-term consequence of the Global Financial Crisis is a deeper, more prejudicial popular cynicism about our economic and political institutions.

And rightly so. The GFC involved multiple institutional failures. All sides of political economy were found wanting. Politicians, regulators, central bankers, and markets were all equally corrupt or incompetent. They all failed in their own special, complex, and opaque ways.

In retrospect, the crises of the 1970s - symbolised by but not limited to Watergate and Vietnam - were less damaging to public confidence than the financial crisis of 2008. As I pointed out in The Drum last year, polls record higher dissatisfaction with government http://www.abc.net.au/unleashed/3790244.html (http://www.abc.net.au/unleashed/3790244.html)  now than they did then.

Here's some indicative American polling data http://www.gallup.com/poll/1597/confidence-institutions.aspx#1 (http://www.gallup.com/poll/1597/confidence-institutions.aspx#1)   from Gallup on confidence in institutions, from the presidency to organised labour to banks. In almost all, there has been a clear long-term decline, a decline which was been exacerbated over the last five years.


Such cynicism inevitably manifests itself in popular culture. Hollywood has made a business of selling our neuroses back to us.
Yet most movies that directly tackle the crisis have been either forgettable or too heavy handed to succeed - for instance, the completely unnecessary Wall Street sequel. They tend to suggest that the crisis was caused by the Wall Street lifestyle; that the long economic slump can be blamed on greed, carelessness, or criminality.

As an exercise in fictional villain creation, this approach is fine. But it doesn't quite capture the all-encompassing nature of the crisis.

There are just so many villains to go around - not just Wall Street excess, but the politicians who forged the massive bailouts, the ratings agencies, the financial regulators, and the central banks.

(It is interesting that one of the only films ever made which shows financial trading in a positive light - The Pursuit of Happyness with Will Smith - was released at the end of 2006, just months before subprime started to hit.)

More evocative of the crisis was the 2009 George Clooney film Up in the Air. This film said nothing about the causes of the crash, but instead focused on the economic despair it caused.

Australians tend to call the whole episode the Global Financial Crisis, but in the United States it goes by the prosaic "Subprime Crisis", followed by "the Great Recession". That different emphasis - from the origins of the crisis to its consequences - explains some of the pessimistic ennui which has enveloped the Western world.

It would be one thing if the 2008 crash had been followed by a strong recovery. But instead the world has experienced a long, uncertain slump.

Up in the Air depicts an economy battered by anonymous forces that the victims neither see or understand. Clooney's job is to fire employees one by one. The recession in Up in the Air could be any recession. It doesn't matter how it started. All the sacked workers know is that they have no control over their fate. The existing institutions have let them down.
It captures, in other words, a sense of institutional estrangement.

Such estrangement, and the cynicism it breeds, will be the long-term legacy of the Global Financial Crisis.

Chris Berg is a Research Fellow with the Institute of Public Affairs. His most recent book is In Defence of Freedom of Speech: from Ancient Greece to Andrew Bolt. View his full profile here http://www.abc.net.au/news/thedrum/chris-berg/28138 (http://www.abc.net.au/news/thedrum/chris-berg/28138) .

Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on October 04, 2013, 01:54:27 AM
mao man my two banks in the Philippines ay medyo busog na
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on October 04, 2013, 03:21:12 AM
imo palang gihatag ni tart kami untang duha ang nabusog. ;D ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on October 04, 2013, 04:49:50 AM
buyag kay i have some hidden back accounts na ako ra makakita
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on October 04, 2013, 07:04:57 AM
lost money deposited in Banco Filipino before left Philippines. :(

Yep. This is more than a Global Financial Crisis. Just heard news that in the last boat people tragedy in Australia, many of the refugees/asylum seekers are Lebanese. Pm Abbott forewarned that Australia will not accept refugees/asylum seekers from Syria. Just too much.
An empty threat. Don't think will deter people smuggling. :(
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on October 04, 2013, 08:33:22 AM
solid pa naman ang BDO and PNB, try it
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on October 04, 2013, 07:21:59 PM
solid pa naman ang BDO and PNB, try it
Sa Pinas, prefer to put my money in this,
Quote from: juan on July 09, 2013, 03:17:48 PM
Offering money/scholarships to a young talented Filipino woman to become an engineer in exchange for a night (or nights) with you for whatever absurd plans and crap that you're very desperate of  becoming my wife.
 :-* ;)

__________________________________________________________________________________________
Have much2X higher return on investment. Hehe :) ;) Earn me truckloads of cash to bring into my next life. ;D ;D

Came across obituary of ex-gf while still living in Manila way back when. Hehe :) ;) Reverted back to her maiden name. Must be divorced.
Recalled bitterness felt when she left me for another. Was one of those supported in her last sem of nursing study till secured her RN. When went to USA, got married to a puti not long after.

In retrospect, can't blame her. Like many, she was desperate to secure GC asap. :)

"It's amazing to see a situation in retrospect and understand exactly why it happened...There is a reason for everything! (Unknown)" :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on October 05, 2013, 08:09:38 PM
The USA Outstanding Public Debt as of 06 Oct 2013 at 02:23:18 AM GMT is: $16,751,509,246,598.13
Click http://www.usdebtclock.org/ (http://www.usdebtclock.org/) for real time figure. It’s $16.9+ trillions.
 :o :o :o :o :o :o
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on January 06, 2014, 12:53:29 PM
save ng save na naman ako, naka over 100K na pala ako sa BDO
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: juan on January 07, 2014, 02:57:05 AM
save ng save na naman ako, naka over 100K na pala ako sa BDO
mine is in the hands of thieves. Yet to recover. Tamad mag-asikaso. Don't need the money. Can survive on govt pension.

Yet another reason for having a smart Pinay wife. Aron sya ang mag-asikaso. Hehe  :) ;)
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: OMG on July 30, 2015, 02:24:50 AM
sana maka save ulet before my vacation sa pinas
Title: Re: Coming financial crisis will make times much harder, warns economist
Post by: felix on July 31, 2015, 03:10:27 AM
nag save pud ko pero tag 10 per day lang jud ang kaya