Thursday, August 26, 2004

Acting Poor?

The country, that is. Angel is worrying about the country's current fiscal crisis and the contrast between the superrich and the piss-poor (I don't mean this in a bad way.). She relates that a relatively unknown pro-basketball player's salary is worth PHP320,000 a month, while a staff nurse's pay is PHP 7,000, and she's been working in one of the better hospitals for two years.

Like Conrado de Quiros said, he can understand why our doctors, nurses, and other professionals seek greener pastures abroad for the gross lack of opportunities here, but he can't applaud the decision either.

For most Filipinos, he went on, is it a choice between poverty, or lifestyle? Between the latest SUV or a Sarao? Between a split-level home, or a simple bungalow?

Markus (in a comment to Angel's post) replied that by just looking at the many Filipinos in Glorietta and Greenbelt, one is bound to feel better about himself/herself. And image-wise, he has a point. How many times have Mike and I noticed what Markus noticed? How can you reconcile a country that is threatened by a severe financial crises when the malls are always full?

Easy. You spend on credit.

And the troubling corollary to that is, credit is all what most people have left. And when that's gone, then bankruptcy looms.

Parents know that their children are bound to imitate some of their characteristics. So when the government is saddled with massive foreign and local debt and yet keeps on spending, whose lead are the people going to follow?

Acting Rich, more like it.