the Chinese are getting scared about the value of the dollar for they have around almost a trillion worth of investment here. there is this push for a new global currency that will or hopefully will be recession proof. with the bailout being dangled around banks, the car industry, the insurance firms, the Chinese do not like it for they say that the worth of the dollar is being devalued in the process. president Barack Obama when asked lately in his most recent interview about the push by the Russians and now being second demotioned by China with regards to a rival currency...he said...that there is no need to fear. after all the United States has a very stable form of government compared to the rest of the world and the best place to invest is still here in the USA :) i agree. and to those countries that are losing their confidence, can't blame them. maybe it's time to pull out their money and to invest somewhere else."an economic pearl harbor" this is how Warren Buffet, the most liked and one of the richest men on earth had described what is happening here. true. with almost 10% unemployment and around more than 5 million Americans lining up for unemployment benefits, that says it all. most manufacturing companies shipped their businesses out for cheap labor elsewhere causing massive unemployment, now the law makers are beginning to realize the adverse effects of the shipping out of jobs. tent cities are cropping out for some Americans who lost their homes bec. they lost their jobs for their employers want cheap labor that they can get outside the U.S. now you can hear politicians here blaming it to mortgage companies. really? let's do a very simple math here, where i excelled in school, laughs. no jobs=no money for mortgage, it's not the bank's fault who hold these mortgages...it's your fault bec. you...the politicians allowed or made it easier for these manufacturing jobs to get out of the country by giving the owners tax breaks as incentives and that i don't understand. you pay companies to have their businesses go out of the country out sourcing jobs? what is the reasoning behind that and that is not math anymore. so yes, i failed for i did not get it, the true logic of this. all things here being sold in the stores are made in China. i can't even get anything as a pasalubong to my friends and relatives, things that are made here except for perfumes and cosmetics. so the reason for this economic meltdown here is...greed of the rich...for more profit...the end.
and i thought it is holy week this week, but not yet, so here i am blogging again, but who cares, i know no one does, laughs. oh well.
