Top Filipino economists are still insisting, as a matter of fantasy, that the biggest problem confronting the nation today is how to pay our external old debt of $65 billion dollars.
These economists are not even ashamed of themselves. As a matter of reality, our biggest problem is how to catch and put in jail those corrupt officials in government that made such loans not to benefit the nation, but to deposit into their personal bank accounts such foreign loans. Well, more loans are needed for the nation and, as we are acquiring more loans, how come the nation is getting poorer and sinking deeper into the economic quagmire?
As a matter of reality, however,, the biggest problem of the nation is the population explosion. Two million babies are born every year in the Philippines. Whatever economic productivity, if any, we may achieve, it will be just eaten up by more mouths to feed. Thus, instead of the higher, only the lower standard of living.
The trouble with our God-fearing, college-educated and faith-soaked economists is that they feel so blessed by God. Specially when they see Filipinos smiling and proud of their lower standard of thinking. As if with our poverty as a people and bankruptcy as a nation God will continue to bless this Pearl of the Orient Seas – the only Christian country in Asia.
It is all about the same stupid economy in cahoots with stupid theology year in and year out: the religious insanity ever playing the major role to keep up with the economic insanity of this God-forsaken country. After all, according to our Christian values and beliefs, the more we suffer, the more sacrifices we make for the Lord, the chances are better for the Philippnes to remain forever famous as the only Christian country in Asia. Poch Suzara
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I could almost hear them damned suit and tie guys convincing an innocent person how he should be handling his money: "If you had personal assets totaling hundreds of millions of dollars, would you give me $1,000,000 so that I could lend it back to you whenever you had a need to purchase anything? Oh yes, I would also require you to repay this loan back over lets see, shall we say ten years. And one more thing, you would be required to put something up as security, you know, just in case something unforeseen changed in your cash flow situation and you were unable to repay the loan. In the event that, some time in the future, you did not meet your commitment to me I would be forced to seize the property you put up as security.
I’m sure you understand and agree that this would be fair and justified on my part if and when these events were to transpire. Oh, I almost forgot, there would also be one more small detail of which you would undoubtedly also agree is necessary. Because of the cost of all the services I would be performing for you at your request, it would be necessary that one last obligation be placed on you. You would be obliged to pay a small yearly interest fee. On my part I would bind myself to the commitment that this said interest would never exceed thirty per cent (30%) per year.
Oops, almost forgot again. Keeping with the common sense of the above, and because of the great investment I have in this agreement you would have to agree that you would come to me for all your future money needs. In the event that you may one day require additional financing of an amount over and above the original $1,000,000 you initially gave me you would be obliged to forward these additional funds to me in advance to the loan being granted. Other obligations that would be bound only to you may be added to our contract at my discretion at the time of signing". Our monetary system in a nutshell.
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