KAGAYANon.net, Cagayan de Oro City Forum

[chunsa]

Guys, what's your take on this issue? Since the Wall Street is facing trouble, and US is now facing an economy crisis, everybody speculates that the global economy will be affected too.

Some of us here are working for IT and BPO firms. Since most of the clients and investors are from the US, will the recent issue of the US economy affect our local ITC firms??

Share us your thoughts.

[joboy]

Hi chunsa,

The US recession and in other countries in Europe, to some extent is beneficial for our brethen here who are IT professional since the usual reaction to this econonmic decline is to cut-off operational cost. In effect, overseas companies from these countries will hire work force from others with lower cost price.

Nevertheless, I hope the current crisis in US won't crippled her much. Kay unsaun nalang if almost, if not all, US-based IT companies mag cease to operate? so mawalaan pud ug oppurtunities mga pinoy. just my two cents.

[chunsa]

anyways, can i quote you on that?
i'm doing an article for BW this week about the economic recession

[joboy]

Sure. BTW, what does BW stands for?

[chunsa]

BW stands for business world, its a national business economic newspaper.
awww hehe well actually if magamit nako imo statements, den oki rapud.
errr btw wer ka ga work??

[joboy]

Oh, it just went out from a random thought hehe.. well just in case it will be of use, as you've stated.. please check my signature (My WEB, below each of my post) - aron naa puy maka bisita sa akong blog hehe, then thru a LinkedIn button you will have a bit of info about my work. Thanks in advance for visiting.

[chunsa]

aw hehe ok i checked it.. mmm nag nosebleed ko kajot haha

[bratz]

The private financial banking companies who sells stocks, bonds in wall street are facing financial crisis in their housing sectors due to high prime lending rates, corruption of CEO's, & banking deregulations and also due to Politics as well.

The Crisis is only in this banking business sector of Wall Street. The US Government in general is stable. The government is bailing out this private corporations to keep the Wall street in business.
Actually, the bailout or buyout will make the US Government richer, cause it will now own & control the private banking companies that failed because it seized their assets as part of the buyout.

USA is currently in mild recession. Since USA is a global economy, it has a domino effect worldwide because all this financial corporations has branches all over the world.

With this recession period, I think USA will maintain their operations overseas like the Philippines because of low cost of operating a company abroad & they pay foreign workers very low salary. What they pay Pilipino workers is just PEANUTS. They pay USA workers 50 times your salary.....so your jobs in the Philippines is secured.

Actually, ordinary everyday life right now here in America is Normal. The price of gasoline even went down for over a month now, there are lots of bargain sales in stores right now. People go about their daily business as usual.

I kid you not.....the news media tends to exxagerate the news, they are the one who creates the panic here because they broadcast the news day & night. USA is in good shape. The US Federal govt. has plenty of money in reserve. . It has enough money to bail out this failing greedy corrupt banking companies.