It is NOT a joke what is happening all over the world, especially the economic collapse of countries, including the rich ones.
They say we are heading for a recession or economic crisis that will make more countries and more people suffer.
EXPENSIVE MONEY AND OIL
The United States, the richest country in the world, is raising interest or interest on bank loans.
This is to prevent anyone from having money to buy anything they want.
When something becomes salable, it is loved and other things will follow.
Just like oil is a commodity, when it becomes available, it loves and so do other commodities, including rice and other foods, medicines, fares and so on.
The increase in the price of all goods is a sign of recession that will result in the inability of the people to buy their needs and if this happens, the factories that produce the needs of the people will also stop and the businesses will also lose their income. worker
And in oil, Bro, there is the threat of the Organization of Petroleum Exporting Countries to reduce their production by one million barrels per day due to the slowdown in the countries’ use of oil.
This is where oil will surely love, which has increased the price of all commodities in the world.
Couple this with not being able to borrow from the bank as an expense due to the size of the interest or child on it, your hair will definitely stand on end when the economic crisis comes.
THANK YOU OFWs
Overseas Filipino workers play a very important role for us to fight the recession.
They are the ones who bring dollars into the country that are needed for foreign trade.
Instead of us borrowing from other countries with high interest to use in trade with others, there are their shipments or remittances worth about a trillion pesos.
Millions of OFWs and their families are also the reason for the functioning of food factories, home materials and infrastructure, school supplies, medicine, tourism and others that sustain our national economy.
Thanks to them.
FINES WILL FEEL
My beloved Philippines can and will feel the recession.
First, we don’t have oil so it’s all imported, except for the natural gas that we mine in Malampaya and use to generate electricity.
If there is no oil, the vehicles that deliver goods, food and factory products will not run and there will be no transportation to transport the workers.
That’s why we are forced to import even though diesel, gasoline and others are very expensive.
How can the factories work well if they don’t have capital because the debt is so heavy and investors are also running away from the shares of the companies in the Philippines?
What are we going to do?
We should save, not waste and use what we have in the right way and purpose.
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