Stock Market On The Reds
Economy is struggling on peso weaker side
Greetings!
Whenever I woke up in the morning, I wont get up easily, I will scroll up news for a 20 minutes time, as I set my alarm in advance.
Yesterday social media was filled with airing laments and dissappointment as the oil, and diesel price hikes.
Peso getting weaker versus foreign currencies, and even BCH as well.
If you are and OFW you can says that "Greener pastures on the other sides." because, the weaker the peso is the higjer rate of the foreign currency, has a cause of tumble stock market, which is not known for so many.
Oil imports is more on demand if the oil price increase our stocks also increase, the per barrel is so heavy for the expense of an ordinary Filipinos, especially those drivers, that paying a rent for the vehicle they used.
One thing, if the oil increases, expect the increase in all goods and commodities even rice, cooking oil and sugar, as the manufacturer also uses oil to generate the productions.
This is the kind of worst scenario that will affects the lives on an ordinary Filipino, especially those in lower wages and low incomes family.
What We Can Do?
I we are been asked with this questions, surely we dont have an answered yes, especially is we are just an ordinary citizen, I hope those transport sector will do something to stop this oil prices hikes, but alas! its already took effect by early midnight of todays date March 07, 2022.
What Would Happen If the Foreign Currency Will Continue to Soar?
I am surely we are going to suffer another inflation rate once again, I am not an economist but, I know how hard will be the impact, when it continues, and we can do anything but to accept the fact that we are living in scrutches of the weak economy.
Stock market will striving to get back what peso stand of, but its not easy, if you are dealing with currencies it has a good sides but if you are dealing with pesos then its like a dropping jaws.
It is a kind situation that you are in a great loss if you are bid to exchange something on for a peso, its not a right time to ventures but its a right time to buy.
Remitancess is a major backbone of the Philippines economy sectors, and 90% of it, It is good in the other hand a great favourable time, but in exchange the peso value is just a fair square.
We can't tell which sides causes this red lines, but it is simply stated that our economy are depending match on the imports that is why we are leaning more what the world economy is experiencing.
It is also a hard time for all the business sectors, that suffer the oil price hikes, in general every Filipino will suffer but pity on those small entreprenuer that cannot even gains a profit of Php500 a day.
Electricity Bills also surely will increase, as all the power plant and resources uses up oil energy to generate and operate. This is a too much burden for low income Filipinos, a pinch of salt to a raw wounds and so painful to bear for a day, but what to do?
Consumption is in the flat rate, but the unfair charges of the electricity sectors is a kind unexplainable, so many charges that you dont even understand what s that! a very unfair and questionable charges.
Manpower is not fully bloom, since the load is to upright that it was given to all regular employees, that even overtime is underpaid.
Voices never heard! This is a kind of game plan, that everyone should take a closer look. The impact and the suffering of the people, the silent cry, in the sense that nobody will listen up.
Only one thing we have to ask and prayed of that this prices soar will not take longer so that economy will recover and started pasturing on the greener sides.
Note: Lead Image source: Unsplash
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Quishin
Published Date: March 07, 2022
Time: 9:22 AM