How to stop or solve the poverty in the Philippines?

[foolonthehill]

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This is not sustainable, this donation.

We dont want charity, we want JUST wages.

and this will affect postively 100% of the people . while your idea will benefit only the officers of the charity foundation,

What about this? Take note, this is just an idea, dunno the consequences yet.

1. Create a nationwide foundation dedicated to help each filipino for any purpose they need, like education, business, home building, etc...

2. Ask for a nationwide or worldwide (to those filipinos abroad) donations for this charity.

3. This foundation should not be handled by politics but to those civilians qualified (like foolonthehill) to avoid big corruptions.

4. Donations can be given on the foundations website (using paypal or any payment system), categorize by specific city or town the donation is intended to.

For every 5 pesos donation, 5 families can get 1 peso each. Only 200,000 5 pesos can make a million.

Whose with me? I'll make the website for free

If this is a bad idea, ignore it. I'm not an economist.

[foolonthehill]

Mr dakota,
You are good in practice but bad in theory.

You said you made your money in traditiona financial theories.

Did you mean traditional theories as in US economic thoery?

When you worked in Wall Street didnt you work in a country of Hyperwage? $7.00 per hour minimum?

And you earned $100 per hour?

Isntt aht hyperwage?

Thats why i said, in practice, you were a beneficiary of Hyperwage.

In theory, you didnt realize it was the Hyperwage Theory that you were already practicing.

Your "practice" is good, but you failed to see the "theory" behind your success.

Increasing the wages of workers without a like increase in value of the goods and services will just reduce the quantity demanded. Most goods and services are price elastic due to competition and a global economy. Period end of story.

I made my wealth using these so-called traditional economic and financial theories. The reason why is that they are fundametally valid. Academics can argue about this aspect or that but in the end that is pie in the sky discussions which are not the real world where the rubber meets the road.

If you are so confident that Hype-wage will work I challenge you to sell your story. Take it to the World Bank, the Philippine Govt, the IMF, anyone and see what they say. You may want to start with the SSA and see what their take is on how it will affect their payouts. Then take it to the Bank of the Philippines and ask them out it will affect inflation, the value of the pesos, the gnp and the debt ratios. Real world experiences lead to real world consequences. When you have some to share, please let me know. That said, in my career I have been wrong many many times. I was successful because I was right on the important stuff more often than not. Sometimes its a coin-toss, and you have to be be lucky and catch a break.

I wish you the best of luck in your endeavors

[Dakota]

foolonthehill,

you asked why I went to the USA or namely Ivy League schools for education. The answer is simple, I had excellent grades, aced the entrance exams, had outstanding extra curricular activities, and great references. The reason I succeeded there is because I worked my ass off, made contacts, and learned the really important fundamental theories, and let me say again worked my ass off.

[foolonthehill]

Congratulations Dakota.

You are 1% top of the population.

now, going back to hyperwage,

hyperwage is about salaries of the maids.

Dont the maids work their ass off?

How much do they deserve, mr. dakota, afer your experiences in the US?

Your min. wage their is P100T per month?

how much do the maids here deserve? P2T per month, P4t? P10T?

economic multiplier?
consumer expenditure?

Will these two variables be benefited by increase in wages?

foolonthehill,

you asked why I went to the USA or namely Ivy League schools for education. The answer is simple, I had excellent grades, aced the entrance exams, had outstanding extra curricular activities, and great references. The reason I succeeded there is because I worked my ass off, made contacts, and learned the really important fundamental theories, and let me say again worked my ass off.

[Dakota]

footonthehill,

I got paid more because I could create more value. Period. I didnt get paid more just being there. BTW, I guess my making millions was just pure luck because in your opinion I clearly dont understand economics or finance. I guess it just goes to show that sometimes it better to be lucky than smart.

[Dakota]

working hard is not enough, your hard work has to create a value that supports the cost. the point is and will always be, in a free market who will pay more the the same thing? what is the incentive?

[scriptologist]

There's a scene on Robert Kyosaki's book where he's only a kid working for an employer, and he asked for an increase and instead of giving him an increase, his employer gave him a decrease! The employer was giving Robert a lesson to not work conveniently for someone, that he should find his own way and find his financial genius. I hope I remembered it right

I am employed for 7 years before, until I was broke being employed then my mind started to wander what else is out there. Now I'm working for myself and happy.

[Dakota]

BTW, did you know that 90% of the worlds seapersons are filipino/a. This is an example of a labor market dominated by filipinos. Are the wages in this market equitable? Or have they been arbritarily depressed or inflated by the saturation of filipino workers?

[unsay_ngalan_nimo]

why are you so worried about the agricluter insdustry? are you suddenly generous person now?

are you worried about them today? what have u done?

And if the law will give P20T to the maids, and then by chain reaction you will get P70T month, will you return it back bec the agricutulre industry will collapse (per ur speculation?)

stop pretending to care for them in case hyperwage is implemented, bec ur not caring for them now.

hahaha.. why im so worried... hello pagkain po yan... dapat tayo mag worry... masmhal mag-angkat ng pagkain..

beisdes...

more than half of the philippines is under rural rather than urban and you're saying agriculture does not matter... check your UNDP index murag naa na sila pila ka filipino ang nasa rural ug urban..

i would also like to point out that the poorest of all filipinos are those in the rural areas... so how would hyperwage solve the problem on rural poverty...

hello!!!!!

yes i do mind... how much should my tenants pay me kung 25k ang minimum wage sa non-agri workers... how about the agri-workers?

or are you saying hyperwage is not applicable to agricultural workers and only to non-agricultural workers?

how about construction worker? kung musaka ila pay, pila namn ang pabuhat ug mga baly ug building diri sa ato-a?

ang rent sa balay musaka ba sad?

[al1974]

working hard is not enough, your hard work has to create a value that supports the cost. the point is and will always be, in a free market who will pay more the the same thing? what is the incentive?

So you mean to say us Filipinos are not giving the true value to deserve such low wages?

And why is Jollibee opening stores in the US where wages are higher? Is there a value difference on how the crew there cook the burgers and bus tables? Isn't it the same kind of job only the pay their in US is higher.

If you were working here in the Phils with third world salary despite your credentials, does that mean you are not giving the right value?