Tag: Unemployment

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Better Press Corp:Reuters and Inquirer Edition:Business – World economy to shrink below zero – INQUIRER.net

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I’ve got a beef with this title! World Economy to shrink below zero is obviously eye catching. You have a feeling that it is about growth but you have to read the second paragraph to be sure. This is shoddy writing!

World economy to shrink below zero
Reuters First Posted 15:12:00 03/10/2009
Filed Under: Unemployment, Economy and Business and Finance, World Financial Crisis
DAR ES SALAAM, Tanzania – (UPDATE) The world economy is likely to shrink to “below zero” this year, in what many are now referring to as the “Great Recession,” the head of the International Monetary Fund said Tuesday.
Business – World economy to shrink below zero – INQUIRER.net.

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Philippine Stimulus

Seems Congress is prepairing 100 billion peso stimulus package, roughly 5 percent of nominal GDP, not bad in scale, but I haven’t seen any of the details.(Can’t seem to find an online copy). As usual opposition makes noise because corruption would probably eat most of the stimulus, and recent reports suggests that they are going to use money from the SSS and GSIS. This is frankly scary because this is shadowing/mimicking what happened in the pre-need crisis early this decade. The GSIS and SSS do not have as large an endowement to begin with and it is probably not a good idea to enter investments they do not have any experience with. (I am reading reports that they plan on investing in infrastructure projects, which is very scary, because most of these projects are just not profitable in a purely financial sense, rather they are profitable in a societal utility sense.)

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