The Pains of Bankruptcy

I have seen a lot of people suffering in the US after the recession. I have friends who went through the same trials as everybody else there and still... they haven't recovered because they earn so little than what they used to. Filing bankruptcy was one of the easy things to do at that time but there are really big repercussions in doing that. The measly help from the government would not be able to get the children to school nor feed them three times a day. If this happened to them it would surely be possible anywhere else in the world.

United States insolvency dossiers increased to almost 14% at the end of the 2010 fiscal year. Bankruptcies dropped slightly from 2009 for non businesses. Although at the same period Chapter 7 liquidation and Chapter 13 reorganization (the one for personal bankruptcy) indicated significant increases. This has been affirmed by well known Sacramento bankruptcy attorney Gerald Glazer.

The worldwide and US recession that began in December 2007 ended in June 2009. This makes it the longest since the Great Depression. The National Bureau of Economic Research confirms this as we have seen the worse 18 months in that same period. These businesses appear to be recovering now but personal bankruptcy still lingers because of long-term unemployment and re-employment of the same people with lower indicated earnings. I hope it would not happen to us anytime soon. I am hopeful that the country's economic managers would be able to formulate a way to produce safeguards so we wouldn't suffer the same fate. Otherwise we'll stay in the third world title for a longer time.








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Oil Prices Low ; Is this caused by the recession?

It's something like this but its BIGGER and TALLER...more roomy! This is the small version of it I guess!

We own a Mitsubishi Space Gear Delica Executive Edition van ( a larger one and not like normal ones sold here normally in the islands) and it drinks Diesel like there's no tomorrow... I kinda am tired paying for that sometimes because its relatively cheaper if I just get a cab to and from work... the deal is, everyone in the house needs to use it so I compromise I guess. How am I still managing to save money? Well that's really a miracle!

I heard the news today oh boy! (no that's not the song!) that there would be a 3 peso rollback on diesel with Flying V... its not my brand and I always get Diesel from Petron... but since that is the competitor, most probably they will pull down the prices of the others also. I heard just this evening that oil prices fell to an all time low of 70 dollars. Remember it was about 130 before? that's almost half! Well, I think something good is happening with the US recession I guess huh? People are spending less, and not buying too much petrol is getting the prices and demands down so it is showing that on the market. This is good for motorists right? ^_^

This is where I usually gas up!

Flying V is 3 pesos off diesel and a peso off regular gasoline. Shell, Petron, Eastern Petroleum, Seaoil, PTT, Chevron at Total already rolled back a a lil over a peso off their rates for diesel, gasoline and kerosene.

I heard its about 2 dollars 80 where my Uncle is in the US... like a dollar lower than about a month ago... that is kinda good news. Now I can't wait for prices to go lower on commuters like me too. Maybe 10 pesos off the flagdown rate again? or maybe a peso off on regular jeepney rides would be nice even if I heard they were only asking for 50 cents this morning. I mean its better in Baguio than in Manila, they only have 25 pesos for their flagdown rate there... sheesh!

I hope prices of oil still go down in the world market... as we all need to breathe!

Philippine President GMA; Proud of The Strong Economy despite US Recession

Hey! don't compare the height! People say she's strong and powerful yeh know!

Despite the global economic crisis that affected the US, Europe and Asia... the Phillippine economy continues to be strong says President Arroyo. From a tv show I watched this afternoon, she stressed while speaking on a conference in Makati that the government she says has readied itself for these kind of situations. I doubt that it is the real score but I consider this strength is caused by the millions and billions of dollars that our Overseas Filipino Workers is pouring in as expected because we are obviously nearing the Yuletide season.

Nothing beats Christmas celebrations in the Philippines! We spend a lot this season!

I've heard that even the discovered oil in the Galoc property is going to earn 60-40 in favor of the government (in royalties) and it will be cheaper to transport oil from there instead of ports elsewhere. Palawan crude will be still sold at prices indicated by the world market. I just hope the government does not waste this opportunity to have the resources' earnings go to the rightful set of people. They in turn would be able to use the money for the right projects and make our country stable before the 200million barrels of oil run out. I hope that its not the last of it too because they are still exploring of course!

We (the Philippines) by the way have a 7 percent GNP rate last 2007 and it is expected to be higher this year unlike other countries that are in a slowdown. She also urges the business community to report anomalies to the anti-red tape task force. I just hope this just works so lets just be optimistic and cross our fingers and stop complaining too much! lolz! ^_^