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Selling out the Philippines INSIDE CONGRESS Charlie Manalo 08/11/2011

Thursday, August 11, 2011

Selling out the Philippines

INSIDE CONGRESS
Charlie Manalo
08/11/2011
Contrary to claims by militant fisherfolk group, Pamalakaya, that President Noynoy Aquino has no concrete plans to shield the country from another round of global recession and that he appears just as if he is waiting for the grand massacre of the Philippine economy as global markets collapsed due to the first ever US credit rating downgrade and falling European economies presided by festering debt woes, Noy indeed is making the necessary contingency plan. That is to prepare the Philippine economy for the “grand massacre” by selling the Philippines via amendments to the economic provisions.

The other day, a staunch ally of Aquino, presented the administration’s grand design to sell the Philippines by opening up vital industries and natural resources to foreign investors and that include the education and media industry.

With global economists warning that the US economy is heading back into recession which could be more painful compared to the December 2007 recession, Aquino is virtually inviting investors from that part of the world to invade our country and dump to the trash bins local capitalists.

And that is not without basis as Pamalakaya, quoting international wires, claimed that the world stocks racked up more losses on Monday based on rising worries about a double-dip global recession, deep-rooted jitters over the current downgrading of US credit rating and the growing debt problems across Europe..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20110811com5.html

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