Let’s have the good news first. According to official government sources, the socio-financial standing of the Country is not only good but also promising. They said the national economic fundamentals are well in place and the so called “global crisis”—regression, depressions or the likes—shall not render impact on the Philippine financial standing.
As such, even if the United States is in big trouble, the Country remains its steady trading partner. This is not even counting the pro-Philippines stance of China as a practically limitless source of investments—with or without Melamine, lead paint, contaminated ducks plus defective Christmas lights.
According to these sources, the strength of the Philippine peso against the US dollar is due to the efforts of the ruling administration that has been busy, very busy, doing everything possible to make the Filipinos at ease and in peace not only in their present but also future economic plight.
By the way, what really and where actually are those so often proudly repeated “economic fundamentals?” Since when have the government cheerleaders decided that the Philippines is no longer a part of the world by saying without batting an eyelash that the “global crisis” is irrelevant thereto? Has the Country now gone to the happy embrace and patronage of “Uncle Sun” and no longer “Uncle Sam?”
If the Philippine peso is strong, how come it precisely buys less and less? And if the national economy is that healthy and rosy, how come and more Filipinos are hungry? Or has the present administration instead done its best to engage in self-service since 2004, wasting the wealth of the Country and impoverishing the people?
There is, however, a bad news. According to the “Freedom from Debt Coalition,” the Filipino nation have to pay the record breaking total national debt of P537 billion as of last year.
This means that each and every Filipino owes the amount of P43, 649.57 to this government that has become addicted to borrowing money from all possible local and foreign sources. An individual Filipino has to pay no less than Pesos 7,012.12 every year just for the servicing debt they did not incur – the most probably neither benefited from one way or another.
By way of background, this coalition advocates for freedom from debt specifically in the case of the Philippines, because it is one big gaping hole in the wall or a key complimentary feature of a big bad dream with hallucinatory elements. But whereas “hope springs eternal,” the coalition continues to hope most probably until it is overtaken by pervasive and consummate hopelessness by or every before May 2010.
With the findings of the coalition, it is but normal to conclude that during these ominous times, the real reason why every baby born cries to high heavens is because of the immense debt he or she incurs upon birth!
November 12, 2008