V.A.T Drop to 15 percent

[Jay&Zobel]

Also i must say its amazing in Phill how many Phills are maxed out all the land and titles they own are borrowed agasint. Live hand to mouth it seems have no savings.

I was surprised how many houses when looking at the banks lists which were up fro sale due to reposseion locally had the famillies living in them just waiting for them to be bought by someone. I only looked at a few banks lists so there must be quite a sigficant amount in each area. Was also surprised how many people in phill lived on pawning items and then buying them back.

Although Credit via offcial means was fairly hard to come by many I witnessed borrowed from unoffcial methods, many goods seem to be bought on tick.

Also I noticed all the housing esates opening around Manila many of these houses would have to be bought on credit. As were many condos, many of which seemed to be advertised at locals rather than OFWs or people from abroad.

Give it a few years and there will be a huge credit boom. It will make at least one president and their party at least for a while seem very good at what they do.

Anyway whats all this about credit and its bad after all, any bank not or coin is just a Credit note.

hmmm... really sad but yeah you are right... i pray PI will not be as rich (NOT) as the 1st world countries when it comes to Utang(Debt) hehe.

there is 5/6 - where Indian Nationals in the PI lend money with high interest charges. i think it works like this:
you borrowed P500 and you must pay P600... (if im not mistaken)
terms: can be daily, weekly or monthly...
they prefer daily hehe so the moment the debt is paid off, you can borrow again hehe. plus they will always go after you! you cant hide hehe...

not all Filipinos can borrow money from the banks especially if you are in included in the grassroots area or below poverty line (which is again sad), the reason: how will you be able to repay the debt?

or Pinoys will vote for their favorite politician-celebrities - hoping that they will be able to be benefited once they won! Hmp lol... Pinoy mentality.. again SAD

Condos, Housing & Subdivision Businesses in PI are fast growing... why? because lots of Balikbayans and other Foreigners who married Pinoys or just would like to settle there.

again: sad, go look around the malls with your Brit/Pinay wife.. they will go & flocking around you... reason: FACE VALUE: your partner is WHITE! coz they always think that WHITE has always got money hehe... RACISTS Filipinos hehe! (we experienced this last year when we went to malls, quite funny but can be very annoying hehe)

[andypaul]

hmmm... really sad but yeah you are right... i pray PI will not be as rich (NOT) as the 1st world countries when it comes to Utang(Debt) hehe.

there is 5/6 - where Indian Nationals in the PI lend money with high interest charges. i think it works like this:
you borrowed P500 and you must pay P600... (if im not mistaken)
terms: can be daily, weekly or monthly...
they prefer daily hehe so the moment the debt is paid off, you can borrow again hehe. plus they will always go after you! you cant hide hehe...

not all Filipinos can borrow money from the banks especially if you are in included in the grassroots area or below poverty line (which is again sad), the reason: how will you be able to repay the debt?

or Pinoys will vote for their favorite politician-celebrities - hoping that they will be able to be benefited once they won! Hmp lol... Pinoy mentality.. again SAD

Condos, Housing & Subdivision Businesses in PI are fast growing... why? because lots of Balikbayans and other Foreigners who married Pinoys or just would like to settle there.

As well as Balikbayans and people from abroad, my wifes friends who work in Call centres and in fairly well paid jobs in manila seem to be targeted by credit companies both for cards and loans but also to buy Condos etc.
Im told the same is hapening in India, in the new young highly well paid by local standards. Young workers are buying there families houses and items they could not dream off much is funded in advance by credit....

It will work its way down and as I say one president although he or she should be able to see the damage it can do. But as Gordon and other leaders in the West the feel good factor for their voters is very hard to resist.

Give it ten or twenty years and credit will be easily avaiable in Phill. Not long ago it was very rare for the Person in the street to get credit apart from basic HP and loan sharks.

[Jay&Zobel]

Give it ten or twenty years and credit will be easily avaiable in Phill. Not long ago it was very rare for the Person in the street to get credit apart from basic HP and loan sharks

scaryyyyyyyyyyyyyyyyyyyyyyy. i pray Pinoys will always use cash hehe... and still be clever!

but i think... if there is a credit crunch, recession, finaNciAl meltdown (and other names) and businesses in UK/US are closing down because of these, do you think INT'L CALL CENTRES (India, PI based) will still be there, or will still exist? i think they will become redundant too?


Let us all be FARMERS!!! FISHERMEN!!! hehe