Thursday, July 10, 2008

The other side

When the Philippine peso was strengthening last year, inflation was kept wonderfully low but you couldn't hear enough of stories about suffering exporters downsizing their businesses, and families of OFWs with decreased buying power. Now that the peso is weakening and pushing up inflation, all you hear about are stories of families being dragged into poverty by rising prices of goods.

Personally I preferred it when the exporters and OFW families were the ones "suffering". So, where are the stories of them reaping the windfall of cash now that the peso is on the decline? There are two sides to every economic trend, but media's focus is steadfastly on the negative. Thank God that, in spite of everything, the economy is not as bad as they say it is.