Wednesday, February 04, 2004

Alan who ?

Dear Mouse, For some people who think that bar graphs are silhouettes of a metropolitan city’s skyline and pie charts are slices of pizzas minus the toppings, they will never understand that the highs and lows of currency and stocks can be affected by a mere smile or by simply a nod of some personalities that are believed to have an impact on the economy of a nation, struggling or otherwise. Alan Greenspan can drive the stocks bounce up and down by announcing a change in the interest rate, a rose-colored view about the economy and a protectionist trade policy accommodation. Like stocks and future commodities, currency is being traded in the market. Yes, economic principle of law of demand and supply is very well applicable to the valuation of the currency, so is EQ (emotional quotient). When the businessmen panic, their dollar accounts are safely transferred to offshore banks leaving the nation's banking system wanting from dollars to make the balance of payments balanced. Dollars will not be available for some groups of businessmen who need imported materials for their operations. To get these precious dollars, more pesos will be needed for the currency trading. Either the Central Bank intervene or let the market forces determine the foreign exchange value of the pesos. Let us also admit the fact that our lives are forever at the mercy of the business community being economic animals that we are. Poe is no Greenspan but he can make the pesos cascade to the bottom with his moronic responses to the questions asked in order to get a picture of latform of government. To give the reason of honesty as a sole qualification to become the President of the 80 million Filipinos is not only simplistic but idiotic as well. Honesty does not equate to being incorruptible. He may be honest in admitting he has fathered a child but this does not translate to any economic gain in terms of growth. Will he be honest enough to tell the public what happened to his FPJ, D’Lanor and Rosas Productions? They are inactive and have not produced any movies. Rental of movie equipment does not require sound business strategy except for the independent movie producers who do not have to buy movie equipment for one production. Will he be honest enough to admit why he has hawi boys? Even with the economic team, the President should understand a basic economic principle. When he responded work, work to solve the economic problem, what work is he talking about ? Is he going to work and if he will,what kind of work will he do. Attend meetings which agenda, he has no clue what it is all about ? A leader is a thinker not a worker. He thinks and makes people and ideas work. This Alan is definitely a greenhorn but not a Greenspan in the making. The CA t

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