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Will the Philippines new "investment grade" status spell...

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Will the Philippines new "investment grade" status spell...

Postby Mr S » Thu Mar 28, 2013 11:54 am

Fitch Ratings upgrade: Will the Philippines new "investment grade" status spell good times ahead?

Original content with graphs:
http://getrealphilippines.com/blog/2013/03/fitch-ratings-upgrade-will-the-philippines-new-investment-grade-status-spell-good-times-ahead/

In John Landis’s 1983 hit movie Trading Places, Billy Ray Valentine, a bum and hustler played by Eddie Murphy is picked up from the streets, cleaned up and dressed in an expensive business suit as part of an experiment instigated by wealthy brothers Randolph Duke and Mortimer Duke. The made-over Valentine is then set up in their firm Duke & Duke and introduced to his new colleagues as an up-and-coming hotshot trader.

Ordinary Filipinos are elated by the Fitch Ratings upgrade!

Ordinary Filipinos are elated by the Fitch Ratings upgrade!
As the film unfolds, the success of Valentine’s makeover quickly becomes evident. He starts out looking like a million dollars with his newly-manicured looks and power suit, then proceeds to step up and actually perform like a million dollars.

Fast forward 30 years later. Top-tier rating agency Fitch Ratings recently awarded the Philippines an investment-grade credit rating paving the way for the country’s improved access to a windfall of capital, presumably to fund further economic growth.

“This means much more than lower interest rates on our debt and more investors buying our securities,� Mr. Aquino said in a statement. “This is an institutional affirmation of our good governance agenda: Sound fiscal management and integrity-based leadership has led to a resurgent economy in the face of uncertainties in the global arena. It serves to encourage even greater interest and investments in our country.�

Fitch Ratings cited “improvements in fiscal management� begun under Mr. Aquino’s predecessor, Gloria Macapagal Arroyo, as one of the reasons for its decision to lift the Philippines’ rating from junk status, increasing it one notch, to BBB- from BB+. The rating applies to the country’s long-term debt denominated in foreign currency.

What this means is that Philippine businesses now have access to cheaper overseas foreign-currency-denominated loans. And with the peso rapidly appreciating, this is not a bad deal. Low interest rates combined with a depreciating principal means good times ahead.

Or does it?

Access to cheap capital is a double-edged sword. Much like the way sugar- and caffeine-fortified “energy drinks� boost performance over the short run, cheap dollar-denominated loans are notorious for their addictiveness. This is exactly what happened in the 1990s in the lead up to the infamous currency crash of 1997. The Philippines in the early 90s was awash with cash. The stock market was soaring, “blue-chip� IPOs were being hawked to starry-eyed “investors� by every “investment banker� and her dog, ordinary schmoes hit with the “wealth effect� bug were pouring excess highly-leveraged cash into real estate.

Then in 1997, the market tanked.

After Thailand ran out of money to fund the Thai baht’s peg to the US dollar, its Central Bank was forced to float its currency which, as expected, fell in value versus the greenback. The crash of the Thai baht quickly rippled across Asia, but the seeds for what was to become the Asian Currency Crisis of 1997 had already been planted long before. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt.

As local currency values plummeted local firms all over southeast Asia holding foreign US-dollar loans effectively saw their debt burden double and even triple. When you are stuck with a business that is earning in pesos while owing in dollars, you’re pretty much toast.

If we think being given a big piggybank full of money to “invest� will necessarily result in sustainable development, we should think again. In 1994, economist Paul Krugman published an article attacking the idea of an “Asian economic miracle�. He argued that East Asia’s economic growth had historically been the result of increasing the level of investment in capital. However, total factor productivity had increased only marginally or not at all. Krugman argued that only growth in total factor productivity, and not capital investment, could lead to long-term prosperity. Krugman himself has admitted that he had not predicted the crisis nor foreseen its depth.

The causes of the debacle are many and disputed. Thailand’s economy developed into a bubble fueled by “hot money�. More and more was required as the size of the bubble grew. The same type of situation happened in Malaysia, and Indonesia, which had the added complication of what was called “crony capitalism�.

Most people will agree that capital allocation in the Philippines is largely controlled by a small clique of wealthy oligarchs. Indeed, the Aquino-Cojuangco feudal clan is not just one such but one of the biggest of them all. So just on that alone, the manner and fairness with which any increased capital inflow into the Philippines will be channeled remains an iffy proposition. Will capital be channeled to the most deserving business proposition? Or will it be funneled into the portfolios of the most well-connected oligarchs?

But less-understood is the fundamental weakness of the capital base of the Philippines. Most “investments� in the Philippines are on highly speculative “assets� that do not contribute to real increased productivity (the ability to increase the efficiency with which we make and maket tangible stuff) that is enabled by a fixed tangible capital base (robust indigenous technological capability, stable manufacturing capacity, and a workforce equipped with the most relevant skills) — which is why despite reports of “healthy� rates of increase in the country’s “gross domestic product� (GDP), employment remains flat (and OFWism continues to gallop ahead), and per capita income remains at wretched levels.

Indeed, the Philippines remains that quintessential society of “educated hard workers� that remains impoverished and utterly vulnerable to economic forces and trends outside of its control.

When a society’s economic house is built on top of a sand dune of me-too approaches to business development, employment hinged upon capital created by entities not inherent or indigenous (in other words, external or foreign) to it, and ephemeral cost-plus commercial transactions, it is difficult to see a bottom in the event of economic collapse. There is no real equity at the core of such a society’s economic house of cards. There is nothing in the Philippines beyond the muscle of its workers that is worth buying. When demand for labour vanishes, Filipinos are left with virtually nothing. No world-class business assets and brands to sell, no safe and pleasant (much less interesting) cities and countrysides to offer to European and Japanese backpackers, no lush forests to pitch to researchers and eco-tourists, no world-class cutting-edge indigenous technology and scientific achievement to fall back to and build upon from scratch if necessary. Nothing.

Rather than build an asset base of people, infrastructure, knowledge and expertise, and culture of enduring value, Filipinos spent the better part of the last half-century harvesting its low-hanging assets and exporting them raw as stop-gap measures to prop up a mediocre economy. Much of what Filipinos take pride for in their country is its natural beauty. But that is rapidly being physically degraded as well as overlooked because of peace-and-order issues in the remaining viriginal parts of the archipelago. That leaves the human achievement component of the intrinsic value of the Philippine Nation. Not surprisingly, while Filipinos get heaps of kudos from their foreign employers (and themselves) for being such hard workers, not much can be said about the collective design and innovation faculties of the society. Unfortunately it is in the furnaces of design and innovation that Capital (with a big “C�) is ultimately forged.

Design-added-value results in creation of enduring value. Even in stillness, a truly valuable painting or literary work, for example, can keep a viewer transfixed, spellbound and reflective; offering a richness and depth that continuously reveals subtle aspects of itself with every additional hour spent exploring it. Its value is inherent and stored. Its value is capitalised — a finite amount of labour input resulting in an immeasurable quantity of value continuously delivered over a timescale that transcends the labours of its creator. On the other hand, labour-added-value is fleeting and volatile. The value it yields over time is dependent on a sustained effort. The need for said effort can easily disappear in one of those turns in fortunes that are notoriously impossible to forecast.

The Philippines’ is a labour-added-value economy. And it is the worst kind — a labour-added-value economy propped up by the remittances of a vast army of overseas workers.

It has no solid core no tangible capital base of consequence to collapse to in the event of that “market correction� that is always around the corner. In good times, the economic value sustained by commercial activity in most economies keeps peoples’ quality of life safely above the absolute poverty line. The inherent risk that is always present in labour-intensive economies becomes apparent in bad times.

Whereas a robust equity base in a well-capitalised economy helps keep its peoples’ heads above water in a depression, there is no such rock bottom in a labour-intensive economy. Like a super-massive star destined to collapse into a dimensionless black hole, economic collapse in a labour-intensive economy can plunge the majority of its population below absolute poverty into wretched levels of existence.


Will the Philippines live up to the new power business suit it’s been given by the world’s “credit rating� agencies the way Billy Ray Valentine did in Trading Places? Or will Filipinos merely rest upon the coming windfall of easy money and delegate their already deficited thinking faculties to the multinational firms that will likely make a beeline to cash in on Filipinos’ new-found perception of prosperity?

As always,

Abangan ang susunod na kabanata.
"The object of life is not to be on the side of the majority but to escape finding oneself in the ranks of the insane." Marcus Aurelius, Roman Emperor and stoic philosopher, 121-180 A.D.
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Postby zacb » Thu Mar 28, 2013 3:21 pm

Very interesting thoughts. I think one think holding back some areas is restriction on foreign ownership. If the ingenuity of foreigners were applied to their resources, I think you would have a winning combination. Nations and territories that allowed free trade and infusions of ideas (like Macau and HK) prospered. That is one resason I think that countries like Macedonia, PI, and other Asian countries don't tend to have long term economic success.
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Postby celery2010 » Thu Mar 28, 2013 11:13 pm

i disagree. The outsourcing industry that is largely centered in the Phiilppines is massive and only going to grow.

The #1 asset for the PI is their ability to speak English. Almost every entrepreneur talks about virtual assistants in the Philippines.

Over the long term (about 20 years), this will result in big changes, like how mass tourism has changed Thailand.
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Postby Taco » Thu Mar 28, 2013 11:44 pm

The strength of the Philippine economy is that its main trading partners are not based in Europe and North America. This is important because as the Euro and Dollar descend into oblivion its economy will not be as affected by financial carnage that's coming. The recent Cyprus bank bailout is just another reminder that the economies of Europe are not improving. However, there's a lot of evidence that the Philippines will emerge as a world leading economy when all the dust settles.

Philippines Soon To Join Tiger Economies
http://www.happierabroad.com/forum/view ... hp?t=14817
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Postby The_Adventurer » Fri Mar 29, 2013 12:56 am

Under Marcos, the Philippines was a powerhouse in Asia. They helped make Korea what it is today. After they got rid of him, look what happened.
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Postby Teal Lantern » Fri Mar 29, 2013 1:31 am

Fitch, via the Elites, throwing bait at nervous Euro bank account holders? :wink:
The Asian meltdown is far enough in the past to be ancient history for young Europeans.
Might make a nice bulwark against Sino ambitions in the region, too, or at least drive up their price to play.
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Postby zboy1 » Fri Mar 29, 2013 1:45 am

The_Adventurer wrote:Under Marcos, the Philippines was a powerhouse in Asia. They helped make Korea what it is today. After they got rid of him, look what happened.


What? Marcos absolutely ruined the Philippines; before him, the country was the richest country in Asia; during his rein, the country degenerated into near-economic collapse. Although, I do agree, Corazon Aquino and Ramos were incompetent Presidents after him. Only now, is the Philippines starting to become another "Tiger economy," after years of misstep.
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Postby Mr S » Fri Mar 29, 2013 9:09 am

Ha, ha all you dudes who think Philippines is going to become the next Asian tiger, that's a laugher. There is no way in hell it's going anywhere but stuck in first gear at the most. Everything you see here is smoke and mirrors. If anything were to change for the better it would take many generations, not within the next ten years. All the most viable people who would be willing to improve the Philippines for good are moving to Western countries, they are not staying in the Philippines. Why should they? They make crappy wages and there is no real growth potential for them after a certain point. Corruption, pollution, etc. The ones who stay either don't have the ability financially, intellectually or are physically too old now. The oligarchs rule the show pretty much and give their 'blessings' to selected peons that they favor.

I've been living here nearly 10 straight years and almost 'NOTHING' has changed in regards to quality of life for the average Filipino. Things I notice are actually getting worse cause everything is getting more expensive, especially food and wages are stagnant at best. Unless you think quality of life should be rated by more malls, condos and gated communities, then things aren't a whole lot different then when I first got here. Everything is the same quality but more expensive and more congestion with less infrastructure.

The BPO industry I don't think will survive as you see it today. When technology is able to provide similar services, plus if the peso keeps rising the cost incentive to keep the BPO industry in Philippines will lessen, which is already happening in America, companies are starting to move BPO services back to the states.

Most Filipinos learn in college whatever is the current trend so for example they have an inordinate amount of nurses at the moment, with most not able to find work in the Philippines so they either have low wages under 10k a month or have to work as a volunteer at a hospital. So if they can't get proper experience and don't have a decent command of the English language they can't work overseas in a Western country. So now you have way too many graduates in one field who have to work other jobs to get by or are unemployed and aren't even using their job skills.

Now 'hotel and restaurant management' is the next big jump on the band wagon course to study, I wonder where that will take Filipinos in the long run? Probably no where cause its the same BS trying to work overseas crap as previous degrees. These were pushed by fly by night colleges here like nursing and before that computer science/programming/networking/etc. Even when Filipinos have no inclination or interest in the subject matter they are forced to take up whatever is 'popular' due to peer or parental pressure because they think it will provide the golden ticket to the promised land, i.e. a Western country. They don't think of the long term ramifications of choosing to study a course that already has high competition with questionable employment results in their own country, Philippines. If they can't get out of the country to work, they are screwed in the long run. Wasted time and money learning something they can't use.

This is the story of the Philippines, it ain't going nowhere people. I know many of you are rainbow and unicorn optimists here, which is fine in certain circumstances but I'm a realist and I work in the Western overseas education/work industry and travel all around the Philippines and I know exactly what's going on, I don't subscribe to the propaganda that you guys think you see and read, it's not happening. I used to work in the BPO industry here too for a while and I know all about that crap industry too.

I don't just post articles and talk out of my ass when it comes to what's going on in the Philippines. Yeah, everyone has their own opinion but I post articles like this cause the writers actually know what's going on in this country and don't work for Manila Bulletin, Philippine Star, National inquirer, etc.

This country is only good for families who can live on 50k Pesos or more a month. Individuals can get by on around 20-25k depending on lifestyle choices) Actually, if you are well off it's a great place to live for locals or foreigners cause you get your ass licked everyday from the unclean masses, so most upper-end Filipinos and some foreigners get used to it and like brown dirty tongues licking their butt-hole for scraps and left over peso pocket change. If you don't make 50k or more then you either live with others who do or combine resources. For those who can never achieve that kind of income mark, which is the majority of the country they are sucking eggs, life is miserable in comparison to middle class and above lifestyle.

However I have a solution, maybe the Catholic church will save and financially support them, all they have to do is donate more money to the church that they don't have, pool it all together and everything will be just fine. I'm sure it will be doled out to everyone in need evenly. Like they say here, God will provide.... :roll: :lol:
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It’s RP’s Failed Protectionist-Welfare System, Stupid!

Postby Mr S » Fri Mar 29, 2013 5:26 pm

For those who need additional proof and commentary:
http://www.happierabroad.com/forum/view ... 884#125884
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Postby Teal Lantern » Fri Mar 29, 2013 6:02 pm

Mr S wrote:Ha, ha all you dudes who think Philippines is going to become the next Asian tiger, that's a laugher. There is no way in hell it's going anywhere but stuck in first gear at the most. Everything you see here is smoke and mirrors.


Smoke and mirrors can convince enough people to put in enough money to make a few people very rich.
This was the case with dot-com, housing, and even tulips. Works in the occasional election, too. :wink:

Add to the ratings upgrade a claim that deposits in P.I. banks are safe and/or show the stock indexes are "soaring" (doable under inflation, if all else fails) and you have enough to convince nervous European depositors & investors (and aging Americans, too) that this is the next
Hot Thing.

We are not in disagreement, Mr S.
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Postby celery2010 » Fri Mar 29, 2013 10:57 pm

I agree that the Philippines isn't going to be a miracle economy anytime soon. I traveled all over the country in 2012 and i can see that.

However, i just went to odesk.com, typed in html and the first person to come up was from the PI, and earns 16.67 per hour.

Computer skills are not useless. They can make a nice living online via outsourcing sites. Internet access allows people to earn a living from anywhere.

Granted the number of intelligent, hard working people in the PI is limited, but this is the sort of thing that create big changes over a 20 year timeframe.

When i visited Bangkok in 1992, it was a real 3rd world hole, as bad as the PI. Now after 20 years of mass tourism, it's the nicest mega city in SE Asia.

You would think that India would provide better potential, but Indians can't seem to see long term. They think that if they can rip us off for $150, that they have it made, not seeing that they could earn $1500 if they were honest and provided good work.
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Postby Mr S » Sat Mar 30, 2013 5:17 am

celery2010 wrote:I agree that the Philippines isn't going to be a miracle economy anytime soon. I traveled all over the country in 2012 and i can see that.

However, i just went to odesk.com, typed in html and the first person to come up was from the PI, and earns 16.67 per hour.

Computer skills are not useless. They can make a nice living online via outsourcing sites. Internet access allows people to earn a living from anywhere.

Granted the number of intelligent, hard working people in the PI is limited, but this is the sort of thing that create big changes over a 20 year timeframe.

When i visited Bangkok in 1992, it was a real 3rd world hole, as bad as the PI. Now after 20 years of mass tourism, it's the nicest mega city in SE Asia.

You would think that India would provide better potential, but Indians can't seem to see long term. They think that if they can rip us off for $150, that they have it made, not seeing that they could earn $1500 if they were honest and provided good work.


Please read:
It’s RP’s Failed Protectionist-Welfare System, Stupid!

To truly understand where PI is going, oh yeah NO WHERE. They are not Thailand and do not possess any similar cultural or economic traits other than Western style go-go bars but at a much lesser overall quality and experience. Individuals with marketable skills generally leave the country. If any remain it is rare, and even rarer if they find a way to make Western level wages. It's an EXTREME minority, not anywhere the norm.

I predict that PI will actually be a worse place to live for the average Filipino in 20 years than better, unless there is some leadership miracle in the pipeline that can't be foreseen right now. There has been almost zero improvement in the 10 years I've been here, I'm pretty sure with the over population and how the country can't even feed itself that things will get much worse for the poor. Importing food to feed the masses is not good economic policy. See what's going on in Egypt.
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Postby OutWest » Sat Mar 30, 2013 5:58 am

Mr S wrote:
celery2010 wrote:I agree that the Philippines isn't going to be a miracle economy anytime soon. I traveled all over the country in 2012 and i can see that.

However, i just went to odesk.com, typed in html and the first person to come up was from the PI, and earns 16.67 per hour.

Computer skills are not useless. They can make a nice living online via outsourcing sites. Internet access allows people to earn a living from anywhere.

Granted the number of intelligent, hard working people in the PI is limited, but this is the sort of thing that create big changes over a 20 year timeframe.

When i visited Bangkok in 1992, it was a real 3rd world hole, as bad as the PI. Now after 20 years of mass tourism, it's the nicest mega city in SE Asia.

You would think that India would provide better potential, but Indians can't seem to see long term. They think that if they can rip us off for $150, that they have it made, not seeing that they could earn $1500 if they were honest and provided good work.


Please read:
It’s RP’s Failed Protectionist-Welfare System, Stupid!

To truly understand where PI is going, oh yeah NO WHERE. They are not Thailand and do not possess any similar cultural or economic traits other than Western style go-go bars but at a much lesser overall quality and experience. Individuals with marketable skills generally leave the country. If any remain it is rare, and even rarer if they find a way to make Western level wages. It's an EXTREME minority, not anywhere the norm.

I predict that PI will actually be a worse place to live for the average Filipino in 20 years than better, unless there is some leadership miracle in the pipeline that can't be foreseen right now. There has been almost zero improvement in the 10 years I've been here, I'm pretty sure with the over population and how the country can't even feed itself that things will get much worse for the poor. Importing food to feed the masses is not good economic policy. See what's going on in Egypt.


I also see nothing that is significant enough to reverse the overwhelming pattern...systemic corruption from the remote barangays all the way to Manila. Intel recently closed down their operation here in the Philippines and cited a number of reasons for PR purposes. The reality as I have heard it directly from Intel management is far simpler: Intel got tired of dealing with the
Filipino mindset of total corruption at every turn. What could have been a jewel in the crown for a developing economy was turned into a mark of shame and Intel walked away. My father-in-law says that was a turning point in his mind and he is going to try to go to Chile with me. He is a mining engineer with good credentials, so I think he will be able to make the move.


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Postby publicduende » Sat Mar 30, 2013 7:23 am

Mr S wrote:Actually, if you are well off it's a great place to live for locals or foreigners cause you get your a** licked everyday from the unclean masses, so most upper-end Filipinos and some foreigners get used to it and like brown dirty tongues licking their butt-hole for scraps and left over peso pocket change.


Mr S I had enough of these rants of yours. You're right, believing in fairy tale economic stories and calling it optimism might be bad, but nurturing nothing else than hatred and despise and calling it realism is much, much worse.

If you hate the Philippines so much, why have you been living there for 10 years already? Why not just go away to Thailand, Japan, Singapore or back home? The PI gave you a wife, a job and a lifestyle that's probably miles away from what you could get in your homeland (the US, I presume), all things being equal. Or perhaps you don't have the skills and the credentials to do something useful for a top-tier Asian economy? If that's the case, stay where you are and stop complaining. It's all starting to get a bit pathetic now.

Are you afraid that, by going back to that Eden of free market capitalism that is the US, the magic carpet will be pulled under your feet and you will turn back into an underskilled Mr. N(obody)? Are you afraid of starting to eat shit processed food again and suck on the same welfare tit you so despise?

And anyways...all these ideas about the usual horse-size injections of free market capitalism and unbridled, unregulated foreign investment as a solution to the failed socialist model of the PI, or the Aquino government, are still being disseminated on such hate blogs as AntiPinoy and GetRealPhilippines. As if Filipinos were moronic enough not to see what that prime example of economic dynamism that is the US have become.

Outwest and some other people in here have been talking about living in Chile, an economy that has been routinely pillaged and raped by the US and free market crusaders in the past, and still managed to rebound thanks to that thing capitalism will never capture: that mix of progressive and socialist policy that comes from a real desire for social cohesion. Solidarity. The feeling that one's happiness means little if it's the result of another one's misery.

Another 10 or 100 years in the Philippines will never teach you more than you already know. Stay where you are, for gosh' sake.
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Postby Mr S » Sat Mar 30, 2013 8:57 am

publicduende wrote:
Mr S wrote:Actually, if you are well off it's a great place to live for locals or foreigners cause you get your a** licked everyday from the unclean masses, so most upper-end Filipinos and some foreigners get used to it and like brown dirty tongues licking their butt-hole for scraps and left over peso pocket change.


Mr S I had enough of these rants of yours. You're right, believing in fairy tale economic stories and calling it optimism might be bad, but nurturing nothing else than hatred and despise and calling it realism is much, much worse.

If you hate the Philippines so much, why have you been living there for 10 years already? Why not just go away to Thailand, Japan, Singapore or back home? The PI gave you a wife, a job and a lifestyle that's probably miles away from what you could get in your homeland (the US, I presume), all things being equal. Or perhaps you don't have the skills and the credentials to do something useful for a top-tier Asian economy? If that's the case, stay where you are and stop complaining. It's all starting to get a bit pathetic now.

Are you afraid that, by going back to that Eden of free market capitalism that is the US, the magic carpet will be pulled under your feet and you will turn back into an underskilled Mr. N(obody)? Are you afraid of starting to eat shit processed food again and suck on the same welfare tit you so despise?

And anyways...all these ideas about the usual horse-size injections of free market capitalism and unbridled, unregulated foreign investment as a solution to the failed socialist model of the PI, or the Aquino government, are still being disseminated on such hate blogs as AntiPinoy and GetRealPhilippines. As if Filipinos were moronic enough not to see what that prime example of economic dynamism that is the US have become.

Outwest and some other people in here have been talking about living in Chile, an economy that has been routinely pillaged and raped by the US and free market crusaders in the past, and still managed to rebound thanks to that thing capitalism will never capture: that mix of progressive and socialist policy that comes from a real desire for social cohesion. Solidarity. The feeling that one's happiness means little if it's the result of another one's misery.

Another 10 or 100 years in the Philippines will never teach you more than you already know. Stay where you are, for gosh' sake.


Wow, what brought this hateful personal rant, dude? Why you get all butt-hurt? These posts are to show others who care what is really going on in Philippines and to make their own decisions regarding its economic prosperity or not. For you to personally take offense to it is remarkable considering you should be more enlightened and more open to opposing opinions coming from a Western background. I can maybe understand ignorant nationalist Filipinos or other SE Asians maybe getting butt-hurt, but my fellow Happier Abroad board poster, c'mon it can't be? Or can it....? Hmmmm.

Anyways, dude I feel all hurt now that you insulted me and called me out for what I really am. I guess I should go wallow in self-pity and get my ass back to wherever I'm originally from and go work for some service sector industry part-time job or unionized government one like you told me too, cause as a free-thinking Alpha male that's all I'm good for I guess, cause that will show me who's really in charge. Get all those many hating Alpha females and dykes after me, ya that will fix him up real good. Throw in some whitey hating blacks and latinos too, that'll do the trick for sure! That will show him some real hate and negativity, Bwah, ha, ha. Eh, I wonder why you want to put me down instead of giving me a hand up? Hmmmm. I wonder on that one. I guess you must be unconsciously absorbing the anti-male feminist dogma in the airwaves of that once fine country of yours.

If you are tired of my posts or rants, which by the way I rarely do now regardless. Then don't read them, or comment on them. By you pussyfooting around calling out me and others you don't agree with really shows what kind of disposition you really have as an individual since none of what I posted was even remotely directed at your personage and for someone like yourself to take what I write personally, you have really got some issues to contend with.

The Philippines is a really messed up country, but like any country it has its positive and negatives with it. One has to tread in-between them to be successful. I want to warn others who get sucked into the initial fairy-tale side of it which generally affects newbies who are just first-time or casual tourists. Also for those who have lived here maybe less than two years. Generally if one lives here full time the honeymoon is over in two years or less and one has to then figure out how to tread skillfully between the positives the culture and bring as well as the negatives.

I am not Winston who posts everything about his personal life cause he craves attention he never got properly as a child, teen and young adult, so this board is not an outlet for those kinds of digressions. I originally joined this forum because I had discovered Winston's overseas blogs way back in 2004 I believe and since I was living the lifestyle he advertises and we had similar interests and were both free thinkers I decided to find others who had similar interests. Unfortunately, over the years the forum has attracted many newer posters who don't know the difference between CONSTRUCTIVE CRITICISM and PERSONAL CRITICISM. Posters such as yourself who attack the messenger because he doesn't like what was written or posted ruins the experiences for all.

I live in the Philippines for personal reasons at the moment, does it mean I like it or am stuck here forever? No. Technically I can leave whenever I wish and could find employment with a decent salary in most any country, if I so chose to do. Not to get into details but I am sacrificing a bit of everything I have or am for someone I truly care about that is innocent and has no other options to succeed in life if I were to leave arbitrarily. For you to make the uncouth assumption that I am a degenerate who can't make it anywhere else is of low consciousness level and without any valid evidence to the contrary. Think about it, how many foreigners would give up a lot just to be in the position I am in in regards to finding a way to live here long term with enough money to have a decent lifestyle and all that? Many wish they could but they either can't or don't know how to. I figured out a way to do both, so I can't be too stupid right? Don't you think it's probable that if I can do it in the difficult environment of the Philippines where foreigner employment is frowned upon, that I could easily succeed in other countries with similar anti-foreigner employment sentiments or excel in a country where foreigner professionals are welcome? I am not being supported by anyone but myself and for me to be able to figure out how to live overseas and maintain the same or higher quality of life must mean something to HA members don't you think? Don't you think I know something that you dudes stuck in your own countries don't? I don't post much anymore because posters like yourself don't listen or they attack the messenger. So I'm sorry that I don't post much here cause I got better things to do with my time then defend my honor and try to explain why I write or post particular things to individuals who don't quite get it, doesn't register at their current level of consciousness. BTW, I travel much more as a tourist then I let on but I don't post my travels cause I don't want to deal with personal attack comments that contribute nothing to the discussion. Those who have ears and eyes to see and hear could probably learn a lot from me if there weren't so many that were acrimonious to posts that explain what is really going on in the world around them.

Overall, unsolicited replies and criticisms that attack the messenger are pointless and don't contribute anything to the discussion. I don't care if you disagree with it but write up something comprehensible as to why that is backed up by facts and figures. The shallowness of personal attacks on this forum just shows how much of the mangina mentality that is pervasive in males living in feminist run countries now. You don't even know how sick you truly are as now you are attacking males who have survived the process of unplugging from the Western feminist multicultural gay loving Western countries they originally hale from. How many posters on Happier Abroad actually live the overseas lifestyle and have done it for a number of years? Not too many....Every country is screwed up in it's own way if you ignore the problems and only point out the positives, you will FAIL living as a permanent Western expatriot in any country. Even Winston hasn't technically been able to live fully overseas in multiple countries successfully. He lived/lives in Taiwan cause his parents have a residence there so that doesn't really count much. The only other place he has lived long term was the Philippines, which incidentally is practically right next to Taiwan. His other travels are basically ancient history as they occurred at the turn of the century. So as much as all you guys post about wanting to move out of your Western country and live overseas long-term, it's easier said than done. Only a small percentage on this board are probably willing or able to manage to make the hurdle to completely remove themselves from their Western matrix. Every year it gets harder too, not easier.

I'm done. I think I have wasted enough of my time and gotten my basic point across.
"The object of life is not to be on the side of the majority but to escape finding oneself in the ranks of the insane." Marcus Aurelius, Roman Emperor and stoic philosopher, 121-180 A.D.
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