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March 6, 2008

The Philippine economy is not doing good. Well, in fairness to our dear Mother Land, this is a global pandemonium.

Blame Uncle Sam, if you are looking for a escape goat. The overall mood of their economy is heading south. The Federal Bank is doing its best to avert a nosedive of local and foreign investments (by cutting down interest rates), but as we can see, it is inevitable. The Bush administration has passed the economic package/stimulus (US$168 billion) that could help jump start their economy. Again. This rescue package was passed by the US Congress a month or so ago — rebates for individuals (reaching thousands of dollars for some lucky Americans) and tax breaks for domestic businesses. The idea is to inject more funds to the public to encourage industries/businesses to invest in new plants and equipment; and more spending for the consuming public. Analysts believe that the effect of this will not be felt immediately. And they are right, we are still experiencing some problems. This week’s NYSE trading may have been better than previous weeks, but… well, still not good enough.

Uncle Sam’s problem is really affecting the investments worldwide. Europe. Asia. (Decouple my ar$e!) And of course, our beloved Philippines. The bad thing in the case of our country is that in addition to the global economic problems, we are experiencing political hullabaloos, exaggerating the already bad effects of the economic slowdown/downturn. Currently, the state of the P6 is going down in the short-term trend, but the long-term trend is still intact — not going up, but not going down. This week’s trading even showed consecutive green numbers on the trading floor.

I am still not comfortable with the current figures, I am hoping that after this political bickering between and among our ho[n]orable politicians, everything will be fine. It may not be next week, nor next month, but we all know that the natural way of things is to improve, and the government as well as all the companies that are still alive will be doing its best for their own good. (Darwin, you are my hero.) The PSE and some investment houses are positive that by second quarter of this year, the market and the overall economy will have a breather. Being a newbie, I don’t want to say I agree as if my opinion is of the same level as theirs. But based on the limited knowledge and experience that I have, I am positive — I am hoping and praying — that they are right.

I think this is one of those bumps that anyone’s economy experiences in its life cycle. For every action, there is an equal and opposite reaction. Expansion, then, recession.

Newton is such a killjoy.

(Image on the left is from Wikipedia.)

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