to be continued~ ^^,

Wednesday, November 19, 2008

Editorial for the 3rd issue of The Red Lily

=.= wow, that's a freakishly long title. anyway, one of my jobs as the EIC of The Red Lily (TRL) is to write the editorial. i thought i did a pretty decent job for the editorial of the 3rd ish so i figured i could put it up on here.


Editorial: The true spirit of economic recession?

As if dealing with the effects of the sudden spike in oil prices and just about every commodity needed in day to day living wasn’t enough, Juan de la Cruz must now face and win over the latest villain in its latest tragic novella, global recession.

Of course, the administration is quick to say that there will be no economic recession in 2009 just an economic “slowdown”. The administration is confident in this statement made by National Economic Development Authority Director General Ralph Recto who also said that they do not expect a recession to occur next year because, “there are many investments taking place.” Recto also said that recession meant there won’t be jobs available next year but “I don’t see it happening.”

On the other side of the metro, however, the results of a survey conducted by the Makati Business Club (MBC) were very telling of the fears that the local money players have. The majority of the survey’s respondents that comprised of prominent business men and CEOs feel that the whole economic situation will go from “bad” to “really bad” in 2009.

Totally opposite of what the government said, the members of the MBC believe that recession is a definite possibility in next year. MBC’s most pressing concern being the expected increase in layoffs which is expected happen towards the end of the first quarter of 2009, the same time when fresh graduates make the transition to the workforce.

Who’s Juan to believe? The government who’s chuck-full of PR statements that doesn’t really seem to pacify, well, anyone or the clean cut men and women of the local business industry who deal with money and employment on a daily basis?

Does it even matter who the Filipinos ought to believe? Will acknowledging the more accurate party ease the worries of the masses? Will believing make the threat of recession and economic “slowdown” less daunting than they really are?

The government said that the Philippines will have a 4.6% economic growth at the end of this year. They also believe that the country will experience a 3.6% to 4.6% economic growth next year, that’s all well and good but is the government really ready to safeguard the people against recession/economic slowdown?

Will the Christmas season still be fun and colorful? Will Juan, his children and grandchildren be able to feel the spirit of giving in this time of great need and poor economy?

And when the New Year turns, and recession or economic slowdown marches into the homes of every Filipino, will Juan be prepared and steadfast? Or is he only as ready as his government is?


as always, corrections, comments, suggestions and/or violent reactions are welcome!


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