Did you ever care what this number represents? PhP4,719,013,000,000.00

That’s neither Bill Gates’ nor Henry Sy’s and that is not my projected income this year either (in my dreams)…

That’s our Philippine national debt! Clap! Clap! Clap! Both foreign and domestic combined.

As November 2010 our National Debt is at a staggering PhP4,719,013,000,000.00 and with the current population of 94,000,000.00 every Filipino is indebted PhP50,202.00!

Nah! They have no plans of lowering it. The Bankers own this country. And I am not happy about it. Imagine, my kid who turns two on her next birthday, who knows nothing but to ask for lollipops and still pees on her pants has ALREADY owed the bankers and creditors PhP50,202.00 and COUNTING!

I have a intelligent and handy plans how to erase the PhP50,202.00 per capita debt over my head.

– to make the per capita debt to a very manageable level of PhP1.00 only, increase the current Philippine population 50 thousand folds, that is by easy arithmetic of current population “taymis” current per capita debt (94 million X 50,202). getting couples to do the ultimate ultra active procreation activity is by way the easiest part. yeeppee! feeding the new breed is the hardest thing though (shrugs). but don’t worry folks, our government can do the things they are very excellent at doing: more utang for welfare. 😛

– have my things packed and go to sierra madre where I can hide from government tax collectors for life. i may get muds on my feet, stinky odor, plant camote, but I will be happy giving those tax collectors headaches guessing where i am. you see guys? i love tax evaders. =) i have a lot less to worry about these things.

– wish upon a shooting star that good mother fairy would come and wave her magic wand. POOOOFFF!!! here’s your PhP50,202.00 children. nah! it ain’t happening soon. good mother fairy never trusts Filipinos when it comes to money.

– pray for an earth-bound gigantic asteroid to hit earth fast and see whats happens next. OUCH! that’s horrible.

Anyway, when the government successfully sold $1,000,000,000.00 global bonds in October 2010, never ever feel happy about it. Your good government has just successfully borrowed PhP440,000,000,000.00 in your name and they’ll gonna collect the share of payment from you soon. And if ever you can’t repay it your lifetime, your children will. Also when you see this “treasury offering bonds blah blah blah” never feel proud about it. Your government is selling your soul to creditors through bottomless borrowings.

Or do we care anything about these things at all?

START WAKING UP PEOPLE!!!! We never had a hand on these debts. Mind what our government do in our behalf. I pray this lovely country will be spared from economic woes happening in Middle East. Be prepared because news of looming food shortage and hyperinflation is too loud to ignore.

Or am I just paranoid? =)


About GoldenErro

i love liberty
This entry was posted in Daily News, Monetary History, Monetary Insights and tagged , . Bookmark the permalink.

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