Duterte warns COVID could bankrupt PH

[fred]

President Rodrigo Duterte believes that the coronavirus pandemic can wipe out all of the government’s money if the lockdown fails to contain the coronavirus.
Duterte issued the grim prospect of a bankrupt government as his administration scrambles to raise massive funds to provide cash and food to indigent Filipinos and displaced daily wage earners while they were forced to stay home under the enhanced community quarantine.

https://business.bilyonaryo.com.ph/d...pCkHnv0BLAuZp4


https://politics.com.ph/duterte-warn...eta-flag-pole/

[fred]

73.1 million
The number of persons who were in the labor force was reported at 45.4 million of the estimated 73.1 million population 15 years old and over in July 2019.


Forbid those people from working and then commit to feed their family!!!
In just a short few months..Bankrupt indeed!
China to the rescue??

[Harry T]

Your not on your own over there Fred, many countries are in the same boat, I have no idea how the figures look, but with the furloughing of employees over here, then the money thats going to have to be paid to shops and stores that have been ordered to close, alongside the cost of the Health care being provided, the UK will have to find all this money from somewhere, and it wont come cheap. Yes we know eventually we will have to pay in Taxes, but before that every country has to find the money from somewhere, the problem is from where ?.

[fred]

Yes we know eventually we will have to pay in Taxes, but before that every country has to find the money from somewhere, the problem is from where ?.

Du30 is upset with the U.S for various reasons(He was once refused a U.S visa etc)and from the very beginning of his presidency he decided to divorce America and align R.P interests with China in a big way.
Since then the Chinese have been busy investing heavily in the country and began to send it`s hoards of businessmen and tourists here.
I dread to think how much the Government here have borrowed in direct loans from the CPP to finance DU30`s "build,build,build" infrastructure program, but I`m certain that they are already now in extremely deep.

So you asked "where the money will come from"?

As China is the worlds largest manufacturer and global supplier of cheap products,I bet they have trillions and trillions of U.S.D to invest all over the world.
After the stock market has crashed,Imagine how cheap it will be for them to buy it all.
Local scientists here are advising the Gov. here to remain shut for another 3 months..
If that happens,there will be local businesses going bankrupt left right and center.
The Chinese will buy them out for peanuts.. They will probably bail out Malacanang too while they are at it.
How magnificent,glorious and generous they are!
Enter Asia`s New economic super powerhouse!!!

[fred]

If I were one of those conspiracy theory nuts,I might come to the conclusion that China manufactured this whole scenario at a lab in Wuhan!

[fred]

Just looking at BHP Billiton share price.. Lost nearly half their value and it aint over yet.
I wonder when the Chinese will decide to start buying this huge global mining resource?
Cor blimey.. Nearly checkmate.

[imagine]

If I were one of those conspiracy theory nuts,I might come to the conclusion that China manufactured this whole scenario at a lab in Wuhan!

i wouldnt quite say im a conspiracy nut but, it looks very much like china did this as its plan, it will gain much

[Arthur Little]

i wouldnt quite say im a conspiracy nut but, it looks very much like china did this as its plan, it will gain much

............................................................... ... satanic forces, IMO!

[grahamw48]

The idiot West sold out to China years ago.

Now reaping what was sown.

As for poor countries such as the Phils, and their wonderful leader, ... small beer for China, who will (unless stopped by the U.S.) do whatever they wish in Asia...through fair means or foul.

Shame.

[Harry T]

Slightly off topic but still on economics, I cant for the life of me understand why the Chinese RMB is allowed to remain so low, I can only think it is because it suits big business, the west could stop this at a stroke by revaluing the RMB to what it should really be, and its not 8+ RMB to the pound or 7 Dollars to every 1 RMB, were the RMB at its proper rate, then Chinese goods or goods made in China would cost far more, which is why it suits big business to have a low RMB, hence Apple, JCB, etc etc make bigger profits.. reap what you sow but we all suffer. .

[fred]

Trump told us this years ago and was winning the Trade war fight until of course the Chinese recently released their Ace card. Corona Virus.

“China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. “It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!”

https://www.cnbc.com/2019/08/05/trum...o-new-low.html

[fred]

I see David Ike is in trouble again. Face book and Youtube banned and deleted his viral video that had surpassed 5 million views which would have hit 10 Million!!

Still on Bitchute though!!

https://www.bitchute.com/video/H4W7FwBy0Ukh/