Wednesday, January 23, 2008

Current market crisis is 'worst in 60 years' -- Soros

Ito na ba ang pinangangambahan at kinakatakutang LOLA ng mga krisis ng Kapitalismo ng mundo? Sa kabila ng emergency interest rate cut na isinagawa ng Federal reserve ng US para ma-istabilized ang Global Market, patuloy na sumadsad ang US Stocks.
Dito sa ating bayan, aasahang magpopropaganda na naman ang ating mga magagaling na mga teknokrat sa bansa at pati si Ate Glo na kasalukuyang nasa World Economic Forum sa Davos, Swiss ay muling ipagmamayabang, ipagmamalaki, sasabihing "hindi maapektuhan ang Pilipinas" sa mga nagaganap na delubyo ng Western economies dahil daw sa "wasto at perpekto ang ating economic fundamental." Sa katunayan daw, kasalukuyang tinatamasa raw natin ang may 6.0% economic growth na GNP?

Ang RESESYONG nagaganap sa Amerika at sa mundo ng KAPITALISMO, kasama ang Pilipinas ay dahil sa pagsadsad ng malalaking bangko (hal, Bank of Amerika na nalugi ng $5.4 billion, bunsod ito ng kawalan na ng nagbabayad ng utang, malawakang write-offs ng mga utang) at pag-aatubili ng mga namumuhunan, ang matumal na bentahan, spending, consumption ng mga tao na nagreresulta ng pagslow down, pagbangkarote ng ekonomya ng US at ibang Kanluraning bansa.

Tuwing naglalakad ako sa kahabaan ng Matalino St., sa likod lang ng QC City Hall at nakikita ko ang kalansay na gusaling 22 story Fil-Estate condominium na nakatiwang-wang at nabubuluk, 'yan ang ala-ala't monumento ng Financial Crisis na tumama sa Pinas noong kalagitnaan ng dekada nobenta (90s) na humagupit sa Asia at Amerika.
Siguro, para sa mga OFW-PhilAm na nagsipagbalik o sa mga nakaka-angat, mariwasa't upper middle class na nagbabalak bumili ng CONDO unit, house and Lot, brand new vehicle, lap top computers, appliances at iba pang luxurious item, "ipagpaliban n'yo muna, TIGIL muna, maghintay-hintay muna ng isang taon (1 year), dahil sa epekto ng krisis, tinatantyang magbabagsakan ang mga presyo ng mga bagay na binanggit natin dito."
-Doy Cinco
January 21, 2008
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Agence France-Presse

http://business.inquirer.net/money/breakingnews/view/20080123-114206/Current-market-crisis-is-worst-in-60-years----Soros
First Posted 09:19:00 01/23/2008

LONDON -- The current crisis in the world financial markets is the worst "in 60 years," billionaire investor George Soros wrote in the Financial Times on Wednesday.
In his comment piece, Soros warned that while a global recession could be held off by strong growth rates in the developing world, the danger was that the resulting political tension from a rebalancing of international economic power could "plunge the world into recession or worse."
His remarks come a day after the US Federal Reserve surprised observers by cutting interest rates by 75 basis points to 3.50 percent, providing some much-needed relief to battered financial markets that had suffered heavy losses in recent days.
"The current crisis is the culmination of a super-boom that has lasted for more than 60 years," Hungarian-born Soros wrote in the business daily.
"Although a recession in the developed world is now more or less inevitable, China, India and some of the oil-producing countries are in a very strong countertrend," he continued, in his op-ed titled "The worst market crisis in 60 years."
"So, the current financial crisis is less likely to cause a global recession than a radical realignment of the global economy, with a relative decline of the US and the rise of China and other countries in the developing world.
"The danger is that the resulting political tensions, including US protectionism, may disrupt the global economy and plunge the world into recession or worse."



Why the Fed can't save us
By Allan Sloan, senior editor at large
January 22 2008: 7:47 PM EST

Bernanke and company are using up their limited ammunition, but genuine problems remain with the low dollar and U.S. debt, argues Allan Sloan.
NEW YORK (Fortune) -- Forget all those rational explanations about why foreign stocks markets, especially in Asia, have been melting down for two days. Despite what you've read, seen and heard, those declines weren't caused by fears of what a recession in the U.S. would do to the profits of companies whose stocks trade in places like India, China and Russia.
Rather, the meltdowns were flat-out market panics, where rationality gets tossed out the window as everyone tries to head for the door at once and gets trampled. Go-go markets, especially in Asia, had risen to ridiculous heights - they were going up because they were going up, and momentum fed on itself. Now, they're going down because they're going down, and momentum is feeding on itself again.
http://money.cnn.com/2008/01/22/magazines/fortune/sloan_irrational.fortune/index.htm?postversion=2008012217

1 Comment - Show Original Post
Blogger Joe_Taroogs said...

sabi nga ni Mang Gurnakh, "you reap what you sow." sa ilang dekadang pag-speculate ng mga dambuhalang stock exchanges sa virtual capital (hindi naka-base sa paggawa) at sa pag-trade sa panic... paulit-ulit na nagaganao yung biglaang pagguho na tulad nito.

8:45 PM

2 comments:

Joe_Taroogs said...

sabi nga ni Mang Gurnakh, "you reap what you sow." sa ilang dekadang pag-speculate ng mga dambuhalang stock exchanges sa virtual capital (hindi naka-base sa paggawa) at sa pag-trade sa panic... paulit-ulit na nagaganao yung biglaang pagguho na tulad nito.

doy said...

Tuloy-tuloy na ang pagdausdus ng US economy. Mas nagpabilis ng pagbagsak nito ang pangloloob sa bansang Iraq kung saan, kada araw, bilyong dolyar ang nauubos nito sa kabang yaman ng gubyerno.