Governor Joey Salceda, Gloria's fair haired Boy (?) responsible for keeping the economy afloat, says that we're still lucky. Only 4.3 million families are affected by the worsening economic crisis. However, he told us that the worst is yet to come. The full-blown effects of the global economic recession has'nt been fully felt yet. If government fails to act immediately, he said, the entire nation could face a catastrophe worst than the Chinese quake.
We actually are facing three big problems: one, rising food costs. Two, rising unemployment. And three, rising oil prices. These things are interlinked, in the sense that oil prices dictate inflation. A rise in inflation means some businesses closing, resulting to unemployment.
We are in a very precarious situation. We are surviving in the barest of threads. Consider that people are suffering now when we have'nt felt the full-blown effects of the US sub-prime crisis. I shudder to think of what will happen to us if we're hit by a strong earthquake or a typhoon. What if a natural disaster destroy our critical infrastructures? Will we be able to rise above it?
And how about a war in the South? Can we afford such an event from happening?
As I've said in previous entries, this country faces the most challenging situation in its history. This government could fall under the weight of this economic crisis. It would not be very long before we see the entire superstructure self-destructs.
What's the solution to all these things? Do we need a change in government now? Or do we stick with this government while we weather this man-made calamities?
There are no hard and fast rules to this.
What's clear is this---things would get worse before it gets better. That's the natural cycle of things. Question remains--is government strong enough to survive the worse effects of these multiple crises?
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