...more than the GDP of the Philippines...yes, just heard that today at CNN from the mouth of Richard Quest, a reporter/contributor of this premier cable news network that i always tune in. the president described it as "shameful" that the CEO of these companies, big bankers who asked for uncle Sam's bailout tax payers' money for their failure and they have the audacity to reward themselves with such an enormous amount of money, "MORE" than my country of origin's GDP, imagine that. while handing their hands out to the government for bailout money, 5 million Americans are losing their jobs. without remorse they gave themselves these huge amount of bonuses and even going out in exclusive resorts for company meetings, ordering a 5 million USD company jet, 75,000 worth of rugs for their offices. what kind of thinking is that. now what bothers me most is the comparison...the GDP of the Philippines is only to the tune of 20 billion USD...the amount that went to these shameless pockets. now the U.S. has at least 270 million people and the Phil. has 80 million, 1/5th less, but the land space is a lot, lot less there compared to here in the U.S. no wonder in the population comparison alone...people are packed like sardines esp. in my beloved city of manila. so what more can you say about the money that goes into their pockets...a similar job here paying 3-5 thousand USD a month shipped in the Philippines will just be 300 USD a month. now you know why corporations want their productions or operations done overseas, plus they don't have to deal with union headaches, paying health care insurance and shelling out pensions to workers here. so that is why houses are being foreclosed for American workers' jobs are shipped overseas...no work, so they can't pay their mortgages and the banks who hold these mortgages will also be a loser that is why the housing crisis is present. no jobs so no money for consumers to buy goods as well such as electronics and these companies who sell these will also lose profits and lay off workers adding to the great numbers of unemployed here...greed of the haves...the struggle between the rich and the middle class and sadly the middle class here is shrinking and losing. also hear these, some top pics of president Obama to work in his cabinet like the secretary of commerce is a republican who favors shipping jobs outside the U.S... where is the change then, may i ask? a lot also opposed to the idea being introduced in the legislature right now to buy American made goods which is not much now a days...so again, where is the change? the stimulus package being talked about is loaded with pork that doesn't address much about the plight of the millions of Americans who lost their jobs...yes, print more money and run down more or add more to the deficit, that is the solution at hand where the future of the young is in jeopardy being burdened with these huge deficit that they'll carry into their shoulders. the future is bleak right now. hope the problem will find its own solution in the hands of our elected public officials here but i can't help but being pessimistic. 500,000 USD, is pres. Obama's salary in one year. today, he put a cap into the earnings of the CEO's asking for bailout money. it will be the same as his salary. that will be a HUGE change of lifestyle to these millionaires whose yearly pay ranges from 3-24 million USD a year and they're not happy :) Gosh! in comparison to a person without a job or laid off from their company bec. of failed management, half a million is a lot of dough for these workers and we all know that. this economic crisis is global. it affects everyone, everywhere in the world. it needs to be handled right and the sooner the better for all of us...***
"DOLLAR" art is by andy warhol...his pop art in oil :)
