if dubai was able to do it, and now libya, why can't we?

[FranZeno]

---

I wonder..even if naa tay oil..will we prosper like Libya? With our current govt system?

[rodsky]

I wonder..even if naa tay oil..will we prosper like Libya? With our current govt system?

This may sound unrelated, but sometimes answers can come from the strangest of places. To answer that question, I suggest you read Frank Herbert's DUNE.



-RODION

[Burn Out]

thats because we are greedy.. too much democracy.. garabo pa jud

and btw, singapore has no "OIL"....

[RMK711]

Read this article...
Dubai's oil discovery and Dubai's debt - Reuters -

...and tell me if I'm wrong if I conclude this:

a. Even though Dubai is "diversified", oil still tips the scales in "helping" it crawl of out the debt hole
b. Even though it's supposedly "rich" as what most of you here say, it's deep in debt, which put it in recession. I highly doubt if the oil (lack or abundance thereof) did that.
c. Oil is still the foundation of its wealth. A good analogy is, person A is the scion of a wealthy chinoy businessman (who already owns several businesses built up from earlier generations of businesses), who puts up his own business. Person B on the other hand is a totally "self-made" man, who puts up his own business (his dad was a farmer). If both of these guy's businesses were suffering under a recession, who do you think would suffer more? Person A or Person B? As Dubai can always run back to oil, Person A can always run back to dad.

-RODION

a. Dubai was bailed out by international banks and Abu Dhabi because of future potential of its vast financial and tourism sectors, not it's currently small but diminishing oil reserves. This is why their emir diversified their economy in the first place, because he knew their reserves were dwindling. This is called forward-thinking rather than being content on what one inherited.

b. Most people misunderstand sovereign debt, that is why they look at the huge debt and think, oh they must be poor. Countries are not like people, it would be difficult for me to summarize here the reasons why this is so, but just keep in mind that countries unlike people can print money and can borrow from the future earnings of their people forever. Even when they go bankrupt, they bounce back quickly (like Argentina) if handled well. Also, richer countries have larger debts because they have larger economies and lower interest rates. That is why the Philippines is struggling with our debt even though it's much smaller than that incurred by other countries.

c. It depends on the person but you are comparing apples to oranges. A person who just inherits wealth can be anywhere from extremely intelligent to extremely stupid, there's no way to know because he just got his pass for free. A self-made person is almost certainly a smart guy, smarter than the average man. So, given that scenario I would say there's a much bigger chance that Person A will suffer more. Why? Because he/she is accustomed to wealth and comfort, not difficulty and therefore less likely to persevere. Person B having started from nothing, can easily weather difficulty and since he made it once from nothing, he has a good chance of doing it again. Person A, depending on his capabilities, may not recover at all. Person A can't run back to dad forever, but person B can always rely on himself.

Now that's assuming they are even affected equally by a recession. Person A might be relying just on stock investments and time deposits both of which are prone to vaporize in value during a downturn, whereas person B might be smart enough to avoid the effects of recession entirely by wise maneuvering of his business.

And just note that although I have no statistics on this, based on personal observation, there are many more rich inheritors who become poor than there are poor people who become rich. There is such a thing as an advantageous starting point, but it can either be taken advantage of, or it can get the better of the person by making him careless causing him to squander it. I might even say that it's easier to build wealth than it is to keep it. Just putting it in time deposit forever won't do. Lot's of people do that, and are surprised that their wealth has vanished overnight.

[test1]

ang original post kay comparing ourselves against Dubai and Libya..
ofcourse we cant beat them coz they have the precious OIL to export and sale.. common sense lang, una may producto nato na kusog ang halin? human resource only!?

comparing to SIngapore is also not valid, SIngapore IS A CITY STATE, the CITY is the COUNTRY and Philippines is an archipelago composed of 7100 islands, managing these islands are hard, try mo adto ug mga lugar na dli maabot ug airplane para kasabot mo..

Comparing to Japan and S.Korea!?.. dra na ta mag daog, perhaps ang difference kay ang PEOPLE

take a note of these:
- disciplinado kaayu ang mga tao sa JAPAN,
- they follow LAWS, and are afraid and gor big respect to the authorities!
- they follow even the simplest traffic rules
- kugihan mo asenso sa work and sa negosyo
- They mind there own business, dli cla tsismoso
- DILI cla manghilabot sa Politics
matud pa nila "let the politician handle politics"..
Abi ninyu dli gubot ang politics sa Japan or S.Korea? nganong asenso man kaayu cla?
Private TECH companies focus on their business, students focused on their studies,
workers focused on their job, jobless looks for job or starts their own business.
-wise cla mo gunit ug kwarta, ang mga pinoy? ambot nalang "they spent more than they earned"
example: kinsay empleyado dri na mo earn ug 20k-30k na sweldo na bago lang nipalt ug PSP,PS3 or even DLSR? unsaon man na nninyu inyung gipalit 5 years from now naa pa ba nay gamit, specially kng naa na pd bagong version mogawas?

evidently, dli mo asenso ang Pilipinas because of one trait na GIPAKITA ninyu dri sa istorya.net and is visible dri sa POLITICS section..

"CRAB MENTALITY"

PS. na 4th runner up ta sa Ms. U pero ang mga Pinoy wla na kuntento sa tubag ni Raj, pagka nalang..

daghan kaau ka nindot na point..pina ka basic ang tao..kung mag tan.aw mo sa mga slums nato..kadaghanan sa mga tao na.a mentality na "ingon ani na jud ta"..dli na mo sukol sa ka lisod..(i know mo ingon na sab ang gobyerno la ga encourage- sakto pud, pero pwde man kita2 lang) instead.mag yaka..maka kwarta gani gamay..pa dung ra sa bisyo...mao jud ni ako na obserbahan bai..ingon ani amo lugar...lisod kaau ug mentality..kadaghanan pa jud..though na.a pud ma ihap na naningkamot..outnumbered lang..

sa amo bai...na.a mason na mo sweldo ug 250, pero every day gi lapas or duol na sa 250 iya gi gasto..ang gi gastohan pwde ra wala..kai bisyo man pa dung..pamilyado pa siya..

tan.awon nimo sa history bai..na colonize ta sa spain pila ka tuig..ambot la ko kita ug nasod na colony sa spain na asensado..ma presume nako na bati ang culture na ila na butang sa nasod na ila na sakop..

Ang Taiwan ug South Korea Japanese colony man sila..murag nindot ang culture na gi bilin sa Japan..oh about sa climate..na.a sa nag una nga tungod kno sa climate..bai ang Taiwan init pa sa pinas ug mag summer..hehe para nako nindot ta ug climate...

my 2 cents...

[sgrnim]

pero ang singapore nag sugod sila as 3rd world country after ni hawa ang military base
tungod sa mga maayong pag dala sa mga leaders sa singapore... ni asenso ila nasud
nag sugod pud na sila ka pobre nga nag hinay2x ug asenso.



we need good and competent leaders

education = gamay ra ang degree holder (college graduate) sa singapore
kwarta para sa vision =
> Singapore - after sa ila independence .. isla nga gamay ra source of income (lee kwan you interview sa mediacort)
> Japan - guba ...gikan sa gubat (National geographic)
> South korea - guba gikan sa gubat (National geographic)

nag tan aw ko sa map bah.. ang australia medyo duol2x man pud s equator

Mo asinso rani pilipinas kung maka suway ni ug totaly guba...meaning mag civil war..or gobaton ta sa china...and thats the time ma reconstruct og maka mata ang pinoy sa ila pag ka patriotic...

[nuzzicz]

hai mga pinoy... a question that is answered by a question...

[GOSPELofROCH]

who says we don't have oils?

British and Australians are digging deep down our seas sucking our oils and sell it to Petron/Caltex/Shell. What did our Government do? let say more or less ten million per Kilometer for a permit.

Why can't we do it? Ask yourself. Who did we vote?

[cebulifer]

Mo asinso rani pilipinas kung maka suway ni ug totaly guba...meaning mag civil war..or gobaton ta sa china...and thats the time ma reconstruct og maka mata ang pinoy sa ila pag ka patriotic...

maghuwat pa gyud diay ta ug giyera? paita pud ana!!!

[peewee_toot]

Mo asinso rani pilipinas kung maka suway ni ug totaly guba...meaning mag civil war..or gobaton ta sa china...and thats the time ma reconstruct og maka mata ang pinoy sa ila pag ka patriotic...

im IN fr this. bloody war ra jd ang maka save sa pinas...