Category: Economics & Finance

Observations and commentaries on the present state of both U.S. and World Economics.

Zero Sum Game of Global Finance 4th Edition & the Calif. Budget Deficit

By Eric Bellman October 12, 2012, 1:28 AM SGT

http://blogs.wsj.com/searealtime/2012/10/12/hunger-plunges-everywhere-in-southeast-asia-except-the-philippines/?KEYWORDS=philippines

JAKARTA – The total number of chronically hungry people in Southeast Asia has plunged by close to 70 million in the last two decades thanks to economic growth and policies to feed the poor, but the number of people that regularly go to sleep with their stomachs growling in the Philippines has actually grown.

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Non-sequitur: Is it possible California is a colony of the Oligarchic Philippines & Sacramento just doesn’t know it?

News: British royal family worth more than $1 billion, report says

By Ron Recinto | The Lookout – Wed, Jun 6, 2012

http://news.yahoo.com/blogs/lookout/british-royal-family-worth-more-1-billion-report-152930722.html;_ylt=Au4v.mfL61NGgvI7Ilvigh.s0NUE;_ylu=X3oDMTNtNjA5dmRyBG1pdANUb3BTdG9yeSBGUARwa2cDOGRlZGYwZjQtZGI2Yy0zODE4LWFjNWMtZDk4NGZhYjc5NGE0BHBvcwMxMARzZWMDdG9wX3N0b3J5BHZlcgM0MjEyMWVhMC1iMDBlLTExZTEtYmVmOS1kNTFiNmU2ZmQ3YzM-;_ylg=X3oDMTFlamZvM2ZlBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Also in June Forbes magazine published the 40 richest Filipinos whose combined net worth totaled $47.43 billion. See:

Forbes 40 Richest Filipinos total networth  

 http://www.forbes.com/philippines-billionaires/list/

While the British Royal family goes back hundreds of years, twenty-five (25) years ago, there wasn’t a single Filipino on Forbes list of the richest men.

Unless there is a reasonable and acceptable explanation, this makes the wealth of the richest Filipinos “unexplained” and ill-gotten.  Maybe the IMF, World Bank, ADB and the UN have an explanation.

Below is  Zero Sum Game of Global Finance-4th Edition showing that despite the financial crisis of 2008 and the Great Recession, the 40 richest Filipinos continue to accumulate unexplained wealth. Thanks to the World Bank, IMF, ADB and the UN.

Zero Sum Game of Global Finance 4th Edition 12-29-10, updated 03-29-11 and 04-21-11

California Budget Deficit                       $16.0 Billion* as of 02-20-08

40 Richest Filipinos–Total Net Worth      $16.2 Billion+ as of 10-18-07

 

California Budget Deficit                       $20.0 Billion@ as of 03-17-10

40 Richest Filipinos–Total Net Worth      $20.4 Billion^^ as of 07-31-10

 

California Budget Deficit                       $26.6 Billion++ as of 03-29-11

40 Richest Filipinos–Total Net Worth      $26.2 Billion~~ as of 03-09-11

+ ^^ ~~ – From Forbes Magazine

 

WAIS Posts on Zero-Sum Game of Global Finance

Ivy League Endowments Shrink by $26 Billion 2008-2009 (Bienvenido Macario, 04/26/11 4:48 am)

http://waisworld.org/go.jsp?id=02a&objectType=post&o=61503&objectTypeId=55753&topicId=111

Cuba: Obama to Allow Travel, Money Transfers (Bienvenido Macario, Philippines/US  04/14/09 4:13 am)

http://waisworld.org/go.jsp?id=02a&objectType=post&o=37081&objectTypeId=31331&topicId=1

 

US: on the Financial Crisis and Bailout+ (Bienvenido Macario, Philippines)

Posted September25, 2008

http://waisworld.org/go.jsp?id=02a&objectType=post&o=24935&objectTypeId=19185&topicId=1

Final comment: If the overseas aspect of this financial crisis is not contained by reforming, replacing or rivaling the World Bank, IMF and the UN, we’d be lucky to enjoy three years of recovery from this crisis before we are plunged to a deeper and more desperate downturn.

If this crisis happened between elections, it would have been crystal-clear to our leaders in Congress, the government, the private sector, investors, the media and the public that it was the collective fault of the World Bank, IMF and the UN that brought the crisis deep into this level.

Even as recently as Dec. 14, 2007, the World Bank continued to seek funds for debt forgiveness and in fact secured $16.5 billion~ in cash for the purpose. The  California State budget deficit did not add up to $16 billion+ until Feb. 20, 2008.

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RivCo: Next Budget is About $23m in Red – May 1, 2012

Economists says the 2012-13 County budget pushes the deficit even higher than expected.

By City News Service – May 1, 2012

http://palmdesert.patch.com/articles/rivco-next-budget-is-about-23m-in-red

 

Enrile says US $30-M military aid an ‘insult’ – May 7, 2012

http://www.tribuneonline.org/20120507/headlines/20120507hea4.html#.T6fojGx0GkE.facebook

Washington’s offer of $30-million foreign military financing (FMF) to the country made during a high-level meeting between the Philippines and United States’ Foreign and Defense officials is an insult.

That’s how Senate President Juan Ponce Enrile viewed the military aid promised to Foreign Affairs Secretary Albert del Rosario and Defense Secretary Voltaire Gazmin, adding that it need not be sought by the government considering that such is a commitment made by the US under the Mutual Defense Treaty (MDT).

Malacañang, Enrile said, should not accept such offer.

“They should provide military equipment. (They should comply) not only with the MDT. They signed a military assistance agreement with the Philippines, so they should comply with it.

While Enrile would not highlight the fact that the US government opted to stay neutral in the Philippines’ tension with China over territorial dispute in the Scarborough Shoal, the reported offer to boost the country’s military capabilities came as an “insult.”

“If I were the Aquino government, I would say ‘thank you,’ I do not need your $30 million. We can provide that $30 million for ourselves.”

European Debt Crisis Update

Well participated and thorough discussions about the EU and the financial crisis of 2008 could be found on WAIS in the years 2001-2002 and Sept. 2008. Ireland has always been considered unique by EU standards. However in my opinion, then as now, Ireland is not totally immune from this contagion.

Below is the forecast as posted on WAIS re: World Economy -> More US Firms Move Abroad; on the “Fiscal Cliff” on 09/03/12.

“Then there is the EU debt crisis, which I believe will officially put Europe in recession by @September 20 or 21, 2012. *One way or another, the US economy will be affected by a European recession. ECB Pres. Mario Draghi did not attend the annual meeting at Jackson Hole.

JE comments:  How much has ^Ireland’s 12.5% corporate tax rate helped since 2008?  For example, have many corporations relocated there since the crisis began?  Nobody has the stomach for a “fiscal cliff”–I thought we already fell off one.  And aren’t several nations of Europe already in recession–Spain, Portugal, Greece, Italy… and Ireland?

Note that Bienvenido Macario’s “cliff date” for Europe is not far away:  21 September”

From: World Economy -> More US Firms Move Abroad; on the “Fiscal Cliff” (Bienvenido Macario, USA) Sept. 03, 2012 05:13am

http://waisworld.org/go.jsp?id=02a&objectType=post&o=71880&objectTypeId=64641&topicId=196

Today’s news Sept. 20, 2012

^ Irish Economy Skirts Recession (for now)

By EAMON QUINN And PAUL HANNON

EUROPE NEWS September 20, 2012, 9:29 a.m. ET

http://online.wsj.com/article/SB10000872396390444032404578007951061647888.html?mod=googlenews_wsj

DUBLIN—The Irish economy avoided slipping into recession by the narrowest possible margin in the second quarter, but shrinking domestic demand canceled out a rise in exports, raising new questions about whether the country can meet its budget targets for next year.

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@Global slowdown predicted as China records 11th month of recession

Larry Elliott Economics editor – The Guardian, Thursday 20 September 2012 13.33 EDT

http://www.guardian.co.uk/business/2012/sep/20/global-slowdown-predicted

The prospect of a synchronised recession across the global economy loomed larger on Thursday after news that China’s factory output shrank for an 11th straight month, Europe’s recession intensified and the manufacturing sector in the US had its weakest quarter in three years.

============== end of news excerpt ======

*U.S. factories struggle, Europe and China slump

By Steven C. Johnson and Andy Bruce | Reuters – 8 hrs ago Thursday, September 20, 2012

http://news.yahoo.com/u-factories-struggle-europe-china-slump-151102737–business.html?_esi=1

 

NEW YORK (Reuters) – U.S. manufacturing suffered its weakest quarter in three years and conditions at European businesses worsened, surveys showed on Thursday, while China’s economy continued to lose momentum.

 

The data shed more light on the difficult task facing global policymakers, particularly in Europe and the United States, who have tried to increase growth with aggressive monetary stimulus.

 

The U.S. manufacturing sector closed out its worst three months in September since the third quarter of 2009, according to financial information firm Markit. Export orders fell for a fourth month running as demand from Europe and Asia faded, with September’s slide the steepest in nearly a year.

 

==============end of news excerpt ============

@Eurozone in Deepening Recession, Survey Finds

By PAN PYLAS Associated Press – LONDON September 20, 2012 (AP)

http://abcnews.go.com/Business/wireStory/eurozone-deepening-recession-survey-finds-17278082#.UFsfvY2PW8A

 

Europe appears headed for a deepening economic recession despite a recent easing in market concerns over the three-year debt crisis, a closely-watched survey found Thursday.

 

Financial data company Markit said its purchasing managers’ index — a gauge of business activity — for the 17-country eurozone fell to 45.9 in September from 46.3 the previous month.

 

The decline was a surprise as the consensus in the markets was for a modest improvement. Anything below 50 indicates a contraction in economic activity.

 

September’s rate was the lowest in over three years and came despite an easing in the rate of economic contraction in Germany, the eurozone’s largest economy.

 

=========== end of news excerpt =====

 

I’m sure there is something I can contribute looking for solutions. However a recovery would simply maintain the status quo in other parts of the world and may not help regain control of certain ancestral lands to the rightful owner.  Let me reiterate. I seek Native American status, a Philippines freely associated with the U.K. or the U.S. , among others.

 

Ned Macario

Lemuria

Ancora Imparo

IGA

Stanford Ideas & Connections Network – Personal Update Feb. 12, 2011

Feb. 15, 2013

My recent post / comment is about the currency wars and a mark-to-market on the impending recession to impact the U.S. by March 15, 2013.

https://www.nedmacario.com/currencywars-u-s-in-recession-by-march-15-2013-mark-to-market-feb-15-2013/ 

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From the time my personal update was posted on Feb. 12, 2011 to July 11, 2012 there have been two relevant developments:

1.) The nuclear disaster in Fukushima, Japan caused by the earthquake induced-tsunami on March 11, 2011.

2.) The controversy about the Team USA’s Made In China uniform.

My quest for a Freely Associated state in the Philippines could alleviate the problem in Japan by moving factories, even those in China, among others, to the Philippines.

As a Freely Associated state, any goods or services made in the Philippines could and should be labelled “Made In USA” thus addressing the issue where Team USA’s uniforms were made.

Here are other WAIS posts on my quest for Native American status; Freely Associated State and representation before the US Congress:

Happy Holidays 2011 (Bienvenido Macario, , 12/25/11 4:46 am)

https://waisworld.org/go.jsp?id=02a4&objectType=post&objectTypeId=62030&topicId=188

A very Merry Christmas and a Happy New Year to all.

It’s been a little over a year since my wife Elena G. Macario passed away on December 10, 2010, the 112th anniversary of the Treaty of Paris ending the 1898 Spanish-American War and enabling the Philippines, Puerto Rico and Guam to become US possessions.

 Holiday Greetings (Bienvenido Macario, Philippines/US) Dec. 25, 2010

http://waisworld.org/go.jsp?id=02a0&objectType=post&objectTypeId=53793&topicId=188

Bienvenido Macario writes:

A very Merry Christmas and a Blessed New Year to all WAISers and their loved ones.

All I want for Christmas is my own state, freely associated state with the USA in the Philippines and Native American status for my people with representation in the US Congress.

[stanford-consults] Personal Update  – Feb 12, 2011

1 message

________________________________________

Ben <ned.macario@gmail.com>               Sat, Feb 12, 2011 at 11:05 PM

To: stanford-consults@yahoogroups.com

Hello,

 Perhaps due to the slow economic recovery, prolonged dismal real estate market and California’s marathon budget crisis, I was compelled to pursue a rather unprecedented and unique goals with which substantial documentation have been gathered. Be it the global debt crisis or housing crisis in the UK and the US, from these goals and objectives platforms for solutions will come from. And these goals are:

1.) To secure Native American status for myself and my people that we may regain control of all our ancestral lands in the Philippines to be placed under the care of the US federal government.

2.) To get the appointment as the non-voting delegate representing the Philippines before the US Congress in the same way Puerto Rico, Guam, Virgin Islands, American Samoa have their respective non-voting delegate in the US Congress. Spain ceded the Philippines along with Puerto Rico and Guam to the U.S. by virtue of the 1898 Treaty of Paris.

3.) The creation of a Freely Associated State with the US in the Philippines.

Basically, an umbrella non-profit organization is needed that would function as a state government for the Philippines and therefore for starters we would need volunteers to secure grants and other forms of financing.

Off the top maybe a petition before the US Supreme Court for the first two goals would be the first step.

I’d gladly answer your questions and welcome your suggestions on how to go about securing these goals.

One focus is saving the environment in the Philippines; revival, restoration and preservation of wildlife habitat; and effective management of our natural resources in the Philippines.

Job creation and speed up the economic recovery is another focus of this project.

Now let us say some of the factories in China and elsewhere would be relocated to the Philippines. We can legally label those products “Made In the USA” and ship it over here in the mainland USA not as an import but as domestic products.

Can you imagine the big, positive impact on the US economy the repossession and extreme makeover of the Philippine Islands will bring in terms of job creation and saving the Philippine environment at the same time?

See you in the next meeting.

Ned Macario

Lemuria

Ancora Imparo

IGA

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My Personal Update Suggesting Recovery of the Philippines as a Freely Associated State – Feb. 12, 2011

Discussion with Marc Harris on My Quest for Native American Status and Tariff-Free “Made In The USA” Label for Goods Manufactured in the Philippines, A Freely Associated State.