Philippine politics and economics

[Soapy Smith]

http://www.nytimes.com/interactive/2...T.nav=top-news

Tough to look at these photos.

Yes it is, but thanks for posting the story. Obviously some people dismiss the NYT because of its allegedly liberal slant, but the professional quality of this work on many levels is what separates this journalism from the kinds of lurid stuff on display in the gossip sheets sold at checkout lines in various retail stores.

[Chocha Monger]

I don't get the hags SB.

Living on a pension where you are at the mercy of foreign exchange fluctuations can be a *****. I know a few Europeans who suffer due to the Euro as well as Americans and Brits. Not just Aussies.

Pensioners in the Philippines certainly feel the pinch of those fluctuations when one considers that the core inflation rate averaged 3.88 percent from 2001 until 2016, and reached a high of 7.25 percent in October 2008. Many pensioned mongers in Angeles in particular are living a precarious existence trying to keep up with added pressure of ever rising beaver prices, rents, and trike fares, etc, which increase faster than the core inflation rate. All of this comes while many Western institutions are looking at ways of slashing the dole for pensioners.

[Wicked Roger]

The problem is you are only looking at a one year snapshot. Look back a little further and you will see it used to be over 45 to 1 with the AUD. You add to that the very small pension Aussies get you can see why there are fewer Aussies chasing beaver unless they can get the middle aged dried up old hags nobody else wants.

I don't get the hags SB.

Living on a pension where you are at the mercy of foreign exchange fluctuations can be a *****. I know a few Europeans who suffer due to the Euro as well as Americans and Brits. Not just Aussies.

[Dg8787]

The problem is you are only looking at a one year snapshot. Look back a little further and you will see it used to be over 45 to 1 with the AUD. You add to that the very small pension Aussies get you can see why there are fewer Aussies chasing beaver unless they can get the middle aged dried up old hags nobody else wants.

I have no idea what is a small pension that Aussies get. The poster posted that the Aussie dollar was falling off the cliff now. That was his snap shot given. 45 to 1 was about 8 to 10 years ago. If you want to say it fell off the cliff then? OK.

Certainly the sky isn't falling now for the Aussie pensioner 36 to 1 after climbing from 32 to 1.

[Screaming Beaver]

Can you give some real factual numbers? The Aussie dollar has been up at least 10% from 12 months ago. So the Aussie mongers have been getting 10% more beaver for the year. Even if they lose. 5% my math says they are ahead 9.5%.

Did I miss something?

The problem is you are only looking at a one year snapshot. Look back a little further and you will see it used to be over 45 to 1 with the AUD. You add to that the very small pension Aussies get you can see why there are fewer Aussies chasing beaver unless they can get the middle aged dried up old hags nobody else wants.

[GoodEnough]

http://www.nytimes.com/interactive/2...T.nav=top-news

Tough to look at these photos.

[Dg8787]

Aussie mongers are once again tightening their belts and cutting back on beaver purchases as the Aussie dollar was kicked off a cliff and fell against all major currencies. Aussie GDP shrank 0. 5% in the three months to September from the prior quarter, exceeding forecasts of a 0.1% contraction. This was the worst performance of the economy since the depths of the global financial crisis of 2008.

Aussie mongers can get about 36.81 PHP to the Aussie dollar today. However, with the economy at risk of going into a recession they can expect to get less in the future. These dull prospects mean pensioners will be forced to cut back on beaver and beer consumption in the Philippines making life a lot less enjoyable to vacationers and ex-pats alike.

Can you give some real factual numbers? The Aussie dollar has been up at least 10% from 12 months ago. So the Aussie mongers have been getting 10% more beaver for the year. Even if they lose. 5% my math says they are ahead 9.5%.

Did I miss something?

[Chocha Monger]

Aussie mongers are once again tightening their belts and cutting back on beaver purchases as the Aussie dollar was kicked off a cliff and fell against all major currencies. Aussie GDP shrank 0. 5% in the three months to September from the prior quarter, exceeding forecasts of a 0.1% contraction. This was the worst performance of the economy since the depths of the global financial crisis of 2008.

Aussie mongers can get about 36.81 PHP to the Aussie dollar today. However, with the economy at risk of going into a recession they can expect to get less in the future. These dull prospects mean pensioners will be forced to cut back on beaver and beer consumption in the Philippines making life a lot less enjoyable to vacationers and ex-pats alike.

[Chocha Monger]

Manila, Philippines- The local currency touched the 50-level in the morning session Friday but ended the day at P49.98, P0. 12 weaker than Wednesday's P49.86 close and its weakest after P49.99 close on Nov. 20,2008.

ING Bank Manila senior economist Joey Cuyegkeng, in a statement, attributed the peso's weakness to regional trend due to external factors such as expectations of a hike in the Federal Reserve rates in December and a possible 50 basis points increase next year.

The protectionist policies anticipated from the administration of US president-elect Donald Trump were also among the concerns of the markets along with the impact of the Brexit, stability in the European Union (EU) and slowdown of Chinese growth.

Cuyegkeng said local factors such as the liquidity implications of cutting access of thrust funds on the Bangko Sentral ng Pilipinas' (BSP) overnight deposit facilities (ODFs) were pushed at the background for now.

He also said that "underlying political concerns remain as market participants are also cautious despite the relatively favorable economic fundamentals. ".

He explained that because of these factors "market participants have been slowly increasing US dollar portion of holdings for future foreign exchange payments and servicing and for alternative investments. ".

"We are closely watching developments for now and retain our year-end 2016 P49.50 forecast," he added.

For the day, the local unit opened at P49.95, down from the P49.82 a day ago.

It traded between P49.91 and P50.00, bringing the day's average to P49.96.

Volume of trade reached $437.6 million, higher than the $360.5 million in the previous session.

The currency pair is seen to trade between P49.90 and P50.10 on Friday.

http://interaksyon.com/business/1346...ghtly-improves

[Jack Burton]

There will be action in front and behind the scenes. But only bickering and political posturing for the next 18 years. By then we will be transported individually by newly developed solar powered trike drones.

You win. I haven't been in the Philippines long enough to come up with that answer.

[Screaming Beaver]

Manila, Philippines The sustained rise in US Treasury yields, due in part to expected faster inflation rate by 2017, continues to hurt both the Philippine peso and the Philippine Stock Exchange index (PSEi) Tuesday. The local currency closed the day near its seven-and-a-half-year-low of P49.17 from its fresh 7.5 year-low of P49.20 Monday.

A trader said the currency's performance during the day was a bit weaker than its counterparts in the region. "The peso remained pressured by foreign selling in the equities market," the trader said.

http://interaksyon.com/business/1343...ne-peso-stocks

Yes, the USA Dollar seems to be slowly marching toward 50 to the peso. Let the good times roll. The price of beaver keeps getting cheaper.

[Chocha Monger]

Manila, Philippines The sustained rise in US Treasury yields, due in part to expected faster inflation rate by 2017, continues to hurt both the Philippine peso and the Philippine Stock Exchange index (PSEi) Tuesday. The local currency closed the day near its seven-and-a-half-year-low of P49.17 from its fresh 7.5 year-low of P49.20 Monday.

A trader said the currency's performance during the day was a bit weaker than its counterparts in the region. "The peso remained pressured by foreign selling in the equities market," the trader said.

http://interaksyon.com/business/1343...ne-peso-stocks

[GoodEnough]

I don't think I've ever seen a feature article about the Philippines in "The New Yorker" until this week's issue. For those who might be interested, here's the link: http://nyer.cm/BqUJEKW.

GE.

[Soapy Smith]

Noble sentiments here from Mike but he may be a little over-optimistic about how far this "uprising"has permeated.

Good for him though.

http://www.businessmirror.com.ph/the...-been-lied-to/

Sort of a blend of motivational speaker and "Up with People":

https://www.youtube.com/watch?v=8Xx-85VdCcw

At least Irish Mike appears to have spelled things correctly. The Goodie Two Shoes "Up with People" crowd didn't even care enough to check the spelling of Gawad Kalinga.

[Red Kilt]

Noble sentiments here from Mike but he may be a little over-optimistic about how far this "uprising"has permeated.

Good for him though.

http://www.businessmirror.com.ph/the...-been-lied-to/