Tuesday, January 03, 2006

Peso and Sweet Potato

GMA, after a long breather, now smiles to the teeth. No, she didn't sing about 'two front teeth'.
She was happy because of two things: one, the vacation gives her critics time to shut their mouths and, two, the peso is hitting 52 to a dollar.

The problem is she mistakes the silence of her critics for a 180-degree turnaround especially that the peso is hitting high. And she mistakes the increasing value of the peso as a sign of economic growth!

But the BSP, the WB, local economists and businessmen who did not study with an American President are unanimous in saying that the hitting peso should not be confused with economic growth. Well?

Maybe the kind of economics GMA had studied is different. Who knows?

With the increasing value of peso, the exporters are suffering the pain. The prices of their products went down.

Kaya pala iyong ninang kong exporter ng hndicrafts di ko nakita the whole month of December until now.

Along with the smiles of GMA are the frowns of the consumers. Tumaas nga ang halaga ng piso, mahal pa rin ang kamote! Paano na ngayon ang camote cue?

Even the price of rice didn't go down. Di ba mas marami ang imported na bigas ngayon? Teka, magtungo nga tayo sa Batangas. Sabi me smuggled rice doon!

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