Manny Villar: "If business is booming, why are people poor?"

[sharkey360]

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Check this opinion article out

THERE are positive indications this will be a banner year for big business, including banks.

The results for the first nine months of 2009 show that some major players in business increased their profits not just by double digits, but even by triple digits compared with their profits for the same period last year. Banking, in general, has been highly profitable during the period January-September 2009.

Foreign investors quickly noticed what’s happening in the Philippines. Based on data from the Bangko Sentral ng Pilipinas (BSP), net foreign direct investments (FDI) increased by 31 percent to $1.28 billion during the first eight months of 2009 compared with $977 million during the same period in 2008. The BSP is targeting a total net FDI of $1.5 billion for the whole of 2009.

During the period January-August 2009, gross inflow of FDI reached $1.38 billion, while gross outflow amounted to $107 million.

Most of these investments—mainly from the United States, Japan, Hong Kong and the Netherlands—went to the manufacturing, real estate, construction, services, financial intermediation, mining and trade/commerce sectors.

The investment inflow in the first eight months kept the domestic economy on track to meeting the BSP’s projection of a net FDI inflow of $1.5 billion for the year.

The stock market is sizzling. The composite index of the Philippine Stock Exchange breached the 3,000-point mark on November 12, when it closed at 3,073.92 points, the highest since March 2008.

Thus, portfolio investments, which are called “hot money” because these are placed in quick-in and quick-out investments like the stock market, posted a net inflow of $358 million for the first 10 months of 2009, a turnaround from a $1.3-billion net outflow in the same period last year.

This reflects the return of the risk appetite of investors who believe that the worst of the global economic turmoil is over, as well as the positive growth of the Philippine economy compared with the recession in some of its richer neighbors. In October alone, the net inflow of foreign portfolio investments reached $129 million, a 175-percent jump from $47 million in October 2008.

That’s the good news. And now, here’s the bad news.

The results of a survey conducted by the Social Weather Stations from September 18 to 21 show that self-rated poverty increased to 53 percent, from 50 percent in June, and equivalent to 9.7 million families.

The World Bank said earlier that despite the growth of the economy, estimated at 0.8 percent to 1.8 percent in terms of gross domestic product (GDP) this year, at least 280,000 families or 1.4 million Filipinos would joint the swelling ranks of the poor next year.

Source - If business is booming, why are people poor?

[DonMarc]

Ahh...unsa'y labot ni Manny Villar ani Sir?

[COMCAM]

Ahh...unsa'y labot ni Manny Villar ani Sir?

Hahaha because you dont read the article thats why - read the source bro and its written by Manny Villar - My choice to be the President!

[MeMing]

para lang nako, mas dako sila gasto sa campaign, mas dako sila bawi-unon sa pwesto! mao ang nahitabo, butar ko sa mga tao nga wala gyud ko nakadungog kay tingali wala gyud silay gasto sa campaign so wala na silay bawi-unon kung ma-elect... ang problima sad, akong nabutar sauna kay "victor wood" man no-on unya nahibaw-an nako wala gyud diay ni alamag samot! waaaaaaaaaaaaaa! unsaon nalang ni nako sunod iliksyon ani!

OT!

[DonMarc]

Hahaha because you dont read the article thats why - read the source bro and its written by Manny Villar - My choice to be the President!

I wasn't really thinking that Villar has something to do with the article.. much more write it. I rated him very low during his one-one interviews in the television.

My point is, he's very rich. He can hire writer-analysts for the articles he feeds the media.

[dalmacio]

We need a sophisticated investor to lead this country. Villar has a proven track record that he could increase his networth (Total Assets - Total Liabilities) year after year. If he will be president, he will eventually increase the networth of the philippines. Thats the mindset of the rich, to have a constant financial growth. We need a president who will focus economic growth. honesty and simplicity alone will not save us from poverty.

[MeMing]

We need a sophisticated investor to lead this country. Villar has a proven track record that he could increase his networth (Total Assets - Total Liabilities) year after year. If he will be president, he will eventually increase the networth of the philippines. Thats the mindset of the rich, to have a constant financial growth. We need a president who will focus economic growth. honesty and simplicity alone will not save us from poverty.

ang problima KUNG IYANG MGA NEGOSYO UNAHON UG ATIMAN bai! mao nay dakong pangutana! IS HE WILLING TO HAVE HIS OWN BUSINESS INTERESTS TAKE A BACKSEAT for the sake of the Filipino people? ikaw? if you were on his shoes? would you?

[jntio]

syempre kwarta gyd unahon

[MeMing]

mao na diha ron! maoy nakalibog gyud sa atong nasud ani pero parihas raman sad siguro ning problimaha sa uban nasud bah so mas maayo nalang sad guro ng isa ra ka tao ang hakug kaysa anang presidenti nga daghan kaayo ug "advisers" kay daghan na sila mag-ilog siguro...

ambot oiz! lolz! labad gyud ni sa ulo nga topic so pass nalang sad ko ani! haha!

[redshields]

negosyante ra pud iya unahon. pero malay natin noh? basi diay kamao jud xa magpadagan sa country.