How do you feel the effects of the global economic crunch?

() - November 10, 2008 - 12:00am

Felix Ramento, Manila: It makes me fearful of human sufferings that would accompany a collapsed world economy.

Cris Rivera, Rizal: It’s nothing new. Like everybody else,I’m anxious about the future. It’s like a salted cotton rubbed on the wounds of a long ailing economy like ours.

More belt-tightening measures

Gerry del Cano, Muntinlupa City: It means more belt-tightening measures and energy savings to soften the impact of the global economic crunch.

Gerii Calupitan, Muntinlupa City: Hard as a rock! It led to cost-cutting measures. For example, I got a gas-tickler Honda Bravo 100 moped as my commuter bike. At P30/day, bakit ka pa magdi-jeep?

L.C. Fiel, Quezon City: My grumbling stomach is the first victim of the economic crunch since our one-ulam policy is now strictly enforced. Then, there’s the drastically reduced cellphone use.

 Rose Leobrera, Manila: For the poor like myself, I just need to work hard, be thrifty and avoid unnecessary expenses to be able to survive. It’s what I have been doing ever since, kaya nga I’m called “Kuring.” With rising prices and salaries remaining stagnant, people like me just find ways and means to alleviate this crisis. My motto kasi is magsipag lang.

The future looks bleak

William Gonzaga, Marikina City: The global crisis has already affected my family’s finances as my son-immigrant may need to send more euros for his monthly remittances. Furthermore, our small business and a new firm with former colleagues will certainly face hardships due to the economic slump. The future is bleak, indeed, as a recession seems imminent.

C.K. Yeo, Iloilo City: The global economic crunch has a domino effect; it is going to affect everybody. The car industry in the US will collapse because of the credit crunch. Millions will be unemployed, including our OFWs. With Americans using less gasoline, imports of oil from the Middle East will be cut. Eventually, Middle East employers will hire less OFWs, and so will OFW employers in other parts of the world. All these will result in smaller remittances. It will slow down our economy and so on and so forth. Heaven forbid that there will be anarchy in the streets when people go hungry.

C. Gaspar, Laoag City: The global economy crunch leaves distressing feelings of uncertainty and anxiety. We are facing a future of recession or depression. Que sera, sera.

More of the familiar dire conditions

Rodolfo Talledo, Angeles City: Those with huge investments will be devastated, but most of the ordinary people will survive the crisis with flying colors.

Joel Caluag, Bulacan: I can’t distinguish the feelings anymore. Maybe my mind and body are already numb from the usual local economic crunch that I can hardly feel the global one.

Aldo Apostol, California: No effects, as I do not have offshore investments. I am just a poor individual and the economic crunch has always been a part of my life. God bless the poor!

Imee Aglibot, Rizal: Global economic crunch or not, we ordinary Filipinos have always been in dire conditions. There’s just nothing more to cringe about. Many of us can still make both ends meet, while still many kababayans go to sleep with their stomachs grumbling. I still thank the Lord for making it easier for my family.

Lorenzo Fernandez Jr., Nueva Ecija: With or without the global economic crisis, we still experience the same economic hardship. That’s because we, as a nation, are undeveloped. Others use the term “developing” but this makes no difference.

Joe Nacilla, Las Piñas City: I’ve been living a poor man’s life since birth, without a single taste of luxury. Any economic crunch is nothing to me. The economic crises of today are nothing compared to life during World War II. Besides, it is in our culture that we love to eat, drink and be merry even in times of great difficulty. In 1985, it was already predicted that the next century would be full of confusion and chaos. Economies would be in disarray. So, there was already the threat of imminent danger, but the leaders permitted the threat to fully emerge. Any actions, words and all recriminations are too late.

Edwin Castillo, Tanauan City: I can’t lend money even to a friend because money is tight and hard-earned. I buy only basic needs. We are resilient kaya sanay na sa krisis.

Sanayan lang yan. Rey Onate, Palayan City: Since I got my first job and up to now, I’ve been on an economic crunch.

Life is getting harder

I.Q. Calata, Parañaque City: A graphic illustration of how the global crisis has affected me: My monthly pension used to enough for a month’s supply of canned goods, rice and other food necessities at home. Now, it is good only for 20 days.

Ruel Bautista, Laguna: The rapid and disproportionate increase in the prices of basic goods against a devaluating peso makes it harder to make both ends meet.

C.B. Manalastas, Manila: I feel the decreasing value of the peso. My P1,000 grocery money can no longer buy what it used to buy before.

Lydia Reyes, Bataan: Everyday, living is getting harder. A P100 bill has no value, unlike before, when you could go shopping with it and go home satisfied.

Erwin Espinosa, Pangasinan: Siyempre masakit sa bulsa sa mga ordinaryong Pinoy na tulad namin. Pati ang apo kong si Elord Exzekiel apektado sa gatas at vitamins niya.

Benjamin Nillo, Las Piñas City: I feel the effects of the global economic crunch because I’m now going to pay 14 percent on my bank loans, a big disparity from the usual.

This crisis is an equalizer

Johann Lucas, Quezon City: This crisis is an equalizer. No one is spared; everyone can feel its brunt, although there’s still a disparity that lies in the extent of the effect. In the end, we shall prevail.

Ricardo Tolentino, Laoag City: The positive effect of the global economic crunch is the downtrend of the price of oil, which had become so steep that the mighty oil cartel’s knees buckled.

Too early to feel anything

Germi Sison, Cabanatuan City: Honestly, I am not yet affected by the global economic crunch as I patronize only local produce and products. But surely, I will be affected when my personal effects become more expensive. Then, I may not need anymore those I cannot buy, and not buy those I do not need. Coping, when you have limited means, is as simple as that. Even millionaires cannot have everything they want.

William Bacani, Bulacan: Not much, actually. It’s what I read or hear about in the news that gives me the chills. I’m glad its effect has not hit us that hard yet. But that will come.

Leonard Villa, Batac City: Honestly, I don’t feel its adverse effects yet, and we owe that to the millions of OFWs. Their huge dollar remittances keep our country’s economy moderately stable.

Danny de Leon, Al-Khafji, Saudi Arabia: As an OFW in Saudi Arabia, I have not yet felt any effect of the global economic crisis. Life here is still the same. The company hospital I work for still needs more medical and non-medical staff. It’s only when I watch TFC and CNN that I feel the effects of the global economic crisis.

George Fellner, South Carolina: The global economic crunch has different negative effects on different people, however, one must not lose hope. The situation will improve as there is a global effort in this direction. Stock market rebounds usually start four to six months before the economy rebounds, so look for that and the economy will not be far behind.

Ella Arenas, Pangasinan: So far, in the domestic front, I don’t feel any changes yet. Everything is status quo.

Doing just fine

Don Hernandez, Las Piñas City: So far, I have not felt the ill effects of the global economic crunch. I continue to eat the food I like as prices have remained relatively stable in the supermarket. I also drive my car more nowadays, thanks to the continued downward spiral of pump prices. But more importantly, my investments and CTDs have remained secure in the bank. I just hope and pray that the situation remains this way.

Things are getting worse

Carl Saniel, Pasay City: I think it has been getting worse. The level of poverty, crime, disease, overpopulation and other sicknesses are increasing, not just here in the Philippines, but also in other countries. Corruption here is not situational; it is part of the job. That is why, if you want to get rich quick, just remember that the best position for corruption is open in 2010. That adds to the effects of the economic crunch.

R. Santos, Isabela: Losing one big market like the US is painful enough. What more if we lose trade to other nations? We are in for some rough sailing.

Reynaldo Agbayani, Cagayan: Let’s accept the fact that Philippines is being affected. The unemployment rate has been increasing.

No oil price rollback

Diony Yap, Bacolod City: Ramdam na ramdam ang kahirapan, pamasahe pataas ng pataas walang rollback kahit na bumagsak na ang presyo ng langis sa pandaigdigang pamilihan.

Juan Deveraturda, Zambales: My wife, kids, and grandchildren still lead a simple life so, fortunately, we are not affected by the financial crisis. Oil companies should, however, bring down their gas prices now so that prices of prime commodities would become affordable to the greater majority of the people, especially this Christmastime.

More stress

Manuel Abejero, Pangasinan: High prices of prime commodities, uncertainties, friends talking about sons and daughters coming home from abroad. Stressful, isn’t it?

Nestor Buñag, Mandaluyong City: I’ve ignored this economic phenomenon until now. Though superficially felt here, lately, it seems to be showing macroeconomic effects. That’s alarming.

In God we trust

Debbie Genato, Quezon City: God takes care of us. The economy of the world is far different from the economy of heaven. We do our best, hold on to God, and trust in Him.

Pedro Alagano Sr., Vigan City: I’m helpless, but I just grin and bear it, with hopes and prayers that the bad elements of society will moderate their greed in order not to exacerbate it.

Digoy Coro, Batangas: It’s very bad, indeed, for prices of basic needs are rising. Jobs will soon be scarce and we can’t do anything about it but pray.

The bigger cause for concern

Ric Vergara, Calamba: As a retiree, none. We can endure and survive. I am more worried more about the wrongdoing of our leaders.

Some positive effects

Rey Ibalan, Antipolo City: It’s definitely painful but the economic crunch will teach us to be frugal and prudent with our lifestyle, lest we bite bullets.

Rico Fabello, Parañaque City: Whenever I eat my wife’s cooking, I tend to ask if I am eating local produce. In the greater scheme of things, part of me becomes more patriotic.

Rizalina Reyes, Las Piñas City: You won’t believe it, but the current global economic crunch has done me good. Don’t get me wrong. While the economic crisis is a sad and tragic episode in our life, I know in my heart that it will come to pass, sooner or later. You see, before the economic crisis, I was a compulsive buyer and had the irresistible urge to overload my shopping cart with more unnecessary grocery items than what was needed. I had the propensity to indulge on junk food. And the result? I slowly gained weight. With the onset of the global economic crunch, I only shop and buy things which are necessary. No more junk food for me.

Rising cost of farm inputs

Justo Cammayo, Isabela: The increasing cost of farm inputs is building pressure on me to give up farming. Mark-up is nil, if at all.

Rudy Tagimacruz, Malaybalay City, Bukidnon: As a lowland rice farmer, the soaring cost of farm inputs hits me like Pacquiao’s left hook!

Life goes on

Arrin Villareal, Antipolo City: It’s scripted and dictated by one country. With the push of a button, it would all go back to normal again. We should just laugh about it and go on.

Eufrocino Linsangan, Isabela: We’ve been used to living a life that’s hard. Maybe, we would just grin and bear whatever ill effects this will bring to us. Life must go on.

Jose Fabello Jr., Cagayan de Oro City: It is of no use to curse the winds that caused this economic tsunami. I would rather see myself floating and riding out the waves as they come, keeping my head just a little above the water to somehow survive and then, to enjoy being wet, while I can.

We must plan for any eventuality

Robert Young Jr., San Juan: Most of us should be concerned about two things: Our money in the bank and our job. It is important to plan now. Make yourself invaluable to your company, plan on taking on a new job. Plan for any eventuality. Planning should also include saving on household and personal expenses; every centavo saved will be mean a lot later. Failing to plan is planning to fail.

Loi Castillo, Davao City: The global economic crunch is now at my doorstep. I can feel it because some of my colleagues in the industry are asking if we can take them in after their principals abroad ceased the funding of their development projects. It’s time to prioritize things. Save, save, and save. Hold on to your cash.

 Views expressed in this section do not necessarily reflect the editorial position of The STAR. The STAR does not knowingly publish false information and may not be held liable for the views of readers exercising their right to free expression. The publication also reserves the right to edit contributions to this section as it sees fit.

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