My Thoughts: US Economy Now

While I was making dinner last night, I attempted to join husband as he watched Jones Cup game with Philippines playing against Chinese Taipei. I hate watching depressing games* so I decided to check the Sunday paper instead. Yeah, that busy, got to open the paper in the evening.

I have been a fan of Randy David since I was in high school. I always watch Public Forum and listen to his views and commentaries on important national/political issues.

In the Inquirer, he authors a column Public Lives and here is the link of his article yesterday.

http://opinion.inquirer.net/9519/the-humbling-of-America

In a nutshell, Mr. David shares his brother’s story on how the latter now cope with the depressing economy in the US.

During a talk with a financial advisor last month, I got a peek of the real score on the US economy and how much the country is in deep rut. There are matters that are not made known to people through the local news, Internet or papers. Yeah, what we see on the news, that’s not even half of it. At some point I think its best that some very sensitive matters are not made available for public consumption because it may cause an unnecessary panic especially from those who don’t understand the fundamentals.

What is important right now is, as some experts would advice, to put your money in the safest place possible. Investing now in the stock market is financial suicide. Mr. David sited one major catastrophe in the US stock recently and last night CNN talks about stock market plunge (http://money.cnn.com/2011/08/08/markets/premarkets/index.htm). 

Although, of course, US government says ‘don’t panic.’

For now, we can only hope and pray that US will be able to slowly rise up from this sorry state. Being one of the global leaders, many countries are dependent on how this great nation stays fueled economically.

Let’s also pray for our country to stay afloat during the worst part of the recession. During the SONA, many criticize Pres. Aquino’s performance during his first year. What these people sometimes don’t understand is what the Philippine government is doing right now so that we don’t get so much blow from the problems that US and Europe are dealing with.

*Don’t get me wrong, we won the game but on how it was played, well, you should hear the local annotators last night. Tsk tsk.