For Immigrants, a Ripple Effect (or "How Do I Reconsider My Position Now?")

read more | digg storyYou may want to read first the link to this posting, to give a better context to my take on this piece of news.

Yes, it's just getting rough lately here (at least from where I'm doing my business here in NYC). And I've been seeing some telling signs, and I've become aware of a lot of developments from what people have been willing to share me. I've been seeing that more and more people are getting scared, so fearful of what will happen to their "future."

You know something? I've seen the same kind of environment back in the Philippines. And I'm glad, really delighted, based on the latest macroeconomic indicators, the Philippines is actually among the least affected by this economic turmoil that has started from here in the US, has engulfed most of Europe, and has brought recession recently to Japan. The Philippines has actually got its best economic performance in over 2 decades!

Now, what do I mean by my statement that "I've seen these happenings back in the Philippines?" It refers to that outlook of having a fearful perspective set against political and economic events [except during the early to middle years of the Ramos presidency, where I remember knowing ordinary people--those who don't have social connections, whatsoever--who were brave enough to invest and pursue businesses] carried by most media. I've always remembered the fear, the scared outlook from most people I've met back in the Philippines, such that they won't be willing, or postponing decisions to take risk, as well as those who had been so familiar with "grey clouds" at looking on developments, that contrast so strongly against the bright clouds that can actually be seen most times up in the skies of the Philippines, being in a tropical country. It's the gloominess, such that it's tough being an entrepreneur, as you seldom get support, institutional or otherwise, or honest-to-goodness motivational words even from your first line of friends, family or relatives. You try to convince yourself that things will be better eventually, as I always remember telling myself.

Then I'm also glad, even way more grateful, to have been very experienced with such scenarios now being painted, by at least one set of believers here locally. I've gained much practice from my experiences back in the Philippines, while it was still going on its see-saw depiction of its economic growth rates (they call it "boom-bust" cycle?). I just have a suspicion that things are really getting tough even with those who are moneyed, such that indications show they have not been buying like during comparable periods. I just wonder if those who have been actually earning more, by all respectable counts, can be actually be made to pay higher tax rates? At least in the meantime, until the crisis is over.....but this is just more or less, thinking aloud.

But of course, I gotta be ready still. I'm getting myself prepared for the worst scenarios as well. It pays to be more than cunning these days! Let's see where all these prognostications will lead us. I just like to add as well that it will pay to make sure we keep our heads intact amidst the raging turmoil.