Thursday, March 27, 2008

I don't think so...

When the dollar's value against the peso depreciates, our president would always say this is a good sign for our economy. I don't think so. HOw can we feel that when we are only in the Philippines and not using dollars to buy goods? Maybe when we go out and have our money changed into dollars so we can buy stuff there, then we can say our money is indeed getting stronger. But to ordinary pinoys like the rest of us, the devaluation of the dollar against the peso does not really improve anything. It only makes life harder for many Filipinos who only depend on family members sending them dollars every month. I am not an economist or a financial expert but it does not need much common sense to put two and two together.

2 comments:

Anonymous said...

so you think that end-products that you buy in the country do not use IMPORTED stuff? Don't you think it has made IMPORTED goods you buy cheaper?

Imagine oil has gone beyond $ 100 dollars per barrel (2 years ago it was about $60) but this has not affected us much as it should have... because the US$ has weakened!

1 + 1 = 2!

We value all life forms said...

Hi! Of course, only the rich go for imported goods. People in our country now have only food in mind.Prices are going up like crazy and we can live without imported goods. In the meantime, it's basically food first.