As government fails to resolve its fiscal crisis in 2008 and faces a severe deficit problem, the prospect of more burdensome taxes and shrunken social services looms in 2009. BY IBON FOUNDATION Posted by(Bulatlat.com) As government fails to resolve its fiscal crisis in 2008 and faces a severe deficit problem, the prospect of more burdensome…
Tags: global financial crisis
Bayan Slams GMA’s ‘Beggar Mentality’, Lack of Program amid Crisis
BY BULATLAT The Bagong Alyansang Makabayan (Bayan-New Patriotic Alliance) slammed the Arroyo administration’s ‘beggar mentality.’ The group was referring to the announcement of Mrs. Gloria Macapagal-Arroyo that the World Bank pledged $10 billion to a standby facility for members of the Association of Southeast Asian Nations (ASEAN). The World Bank (WB) denied making such commitment.…
US Bankruptcies, A Portent of Worse Things to Come
The bankruptcies of five global financial services firms based in the US are not yet the worst that could happen. There is yet no end in sight to the current convulsion of the crisis in the US. If things do not bode well for the US, more so for the Philippines. There is not truth…
Workers, Urban Poor Skip Meals to Cope with the Crisis
While the poor try everything from skipping meals to walking hours to the workplace just to cope with the economic crisis, all the government does is to distribute dole outs. BY THE CENTER FOR TRADE UNION AND HUMAN RIGHTS Posted by Bulatlat.com Vol. VIII, No. 27, August 10-16, 2008 Rosa, 55, is a garment worker…
The Bursting of the Bubble
The declines in the stock market and values of currencies may aptly be described as a bursting of the bubble because it reveals a lot of things: the real state of the world economy and the dominance of international mobile capital; the fundamental weakness and vulnerability of the Philippine economy; and the empty boasts of…