Is There Any Hope?

The World's second biggest economy is in a slump. Japan, the land of Honda and Sony in a slump? It is indeed alarming.

When most of the people in the 1st world countries are already in panic mode as early as the latter part of the third quarter of 2008, people here in the Philippines are not that worried yet because of the holidays. The impending gloom of the worldwide economic meltdown was not fully felt, at least not until the new year rolled in.

It's February 2009 now. Intel Philippines has closed down and so has other big companies. A lot of OFWs were sent home because their employers lost their respective jobs. What would happen now? Will the world be plunged into another state of Depression?

Ever since I developed a fascination for international news, CNN has been my favorite channel. Never mind that I don't know what is happening with CSI Vegas and New York. Forget that my husband complains that what I watch is boring. At least my vocabulary has gotten broader the last several months. Economic stimulus and government bailouts. I wonder if the Philippines have something similar? (I don't like watching local news).

Experts are saying the world economy will start recovering by 2010. It seems so far away. But will the world really recover? Will Obama's $789 Billion stimulus package really jump start US economy thus having a good effect on other economies as well? Is there any guarantee at all?