Tuesday, September 30, 2008

Some Thoughts on Bad News

Read the NY Times article here.

I wonder how all these new developments will affect the Philippine economy. While we are ably led by economists (including GMA), there is no denying that we will be affected more than most countries.

Healthcare should be a relatively recession-proof field, but then again you see people who places health lower down the priority chain because of dire circumstances. You already see it here in the Philippines.

There are a lot of Filipinos that work in the U.S. as doctors and nurses. What our countrymen should understand is that they too will be affected by the current downturn in the economy as the other person. And we are not immune to the effects on the problems of the financial markets - with our increasing dependence through our exports and outsourcing efforts.

I understand why mortgage-backed securities have contributed to the free fall on Wall Street. But less clear is the projected effect to the Philippines. And that is the uncertainty that makes me think about long-term career prospects.

Lest I be chided again for always talking about myself, it makes one wonder about the callers we will be receiving.

I might just be thinking about things too much these days. It's the fault of Bionic Commando Rearmed - I am stuck midpoint in the game. It might also be the long furlough I am having right now.

I will just comfort myself in the fact that I still have a job.

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