US ‘Government Shutdown’ Won’t Impact PH Economy

A so-called economist from the University of Asia and the Pacific claimed America’s controversial and highly politicized government shutdown (by the Democrats and liberals) will have a strong impact on the country’s economy.

In an interview with Philippine Star, Cid Terosa said: “If the shutdown will prolong it will definitely affect the exports and investment in the country.”

This issue is all about the failure of the Democrat-controlled Senate and the Republican-controlled House to reach a compromise. The Republicans in Congress passed a bill, which would fund the American government only if President Barack Obama’s Affordable Care law, popularly known as ObamaCare, were delayed a year. The Democrats in the U.S. Senate moved to reject the bill via a vote of 54-46, while the White House ordered federal agencies across the country to begin closing down. 

A few months ago a few democratic lawmakers spoke out against ObamaCare. In the end, at least 17 democratic lawmakers voted to defund the controversial healthcare law designed to force Americans to buy healthcare insurance. Obama’s draconian healthcare law also seeks to penalize Americans for opting out or for not buying health insurance.

ObamaCare Penalty

ObamaCare Penalty

Here’s a related report from CNN:

For 2014, the flat fee is $95 per adult and $47.50 per child, up to $285 per family. Or the penalty could be 1% of family income, if that results in a larger fine. (Income is defined as total income above the filing threshold, which is $10,000 for an individual and $20,000 for a family in 2013.)

So a person making $50,000 would be subject to a $400 penalty, while a couple earning that amount would each pay $300.

By 2016, the flat fees grow to $695 per adult and $347.50 per child or 2.5% of family income, whichever is greater. By then, the average premium for bronze coverage is expected to hit as much as $5,000 for an individual and $12,500 for a family.

It’s ironic that groups and individuals (e.g., pro-Obama unions, big businesses like Starbucks, among many others) that strongly supported ObamaCare shamelessly asked for an exemptions.

Now it appears that Obama, America’s most obvious Marxist president, was more willing to negotiate with Iran and Syria, but not with Republicans.

Terosa’s argument was based on his understanding that the shutdown will slowdown America’s business and economic activity, affecting export and global business activities.

“Definitely the impact will be strong because the U.S. is a major trading partner and the U.S. has major investments in the Philippines,” he said.

The thing is, America has a private economy not a government economy. If the U.S. economy were entirely controlled by the federal government, much like North Korea’s socialist or state-controlled economy, then I’d say there’s a grain of truth in Mr. Terosa’s claim.

The truth is, the biggest economy in the world is fueled by millions of private firms and small businesses. Also, the latest government shutdown is not the first for the American government. Since 1976, there have been a total of 18 cases on which the two opposing political parties failed to reach an agreement on funding the government.

From an economic perspective only private businesses doing business with the federal government and its agencies will be directly affected by the shutdown. Several crony companies doing business with the hardest hit federal agencies will suffer, or,  might even go out of business.

Plus, even if Terosa is right, the Philippines does not really get high amount of US FDI. We are not the main trading partner of America in Asia. America’s biggest trading partners in Asia include China, Japan, South Korea, Taiwan and India.

TRADING

On the other hand, Malacanang palace said the shutdown will not affect the country’s economy.

Strategic Communications Secretary Ramon Carandang told Manila Times they do not see a “significant impact” of the shutdown in the country’s economy, at least on the short-term.

“We don’t foresee a significant impact in our economic fundamentals. That would depend though how long the shutdown lasts,” Carandang said.

My only deepest fear is that President B.S. Aquino and his communications team might also use this Orwellian term “government shutdown” to defend and rationalize the retention of pork barrel.

  • How ObamaCare impacts ordinary Americans

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One thought on “US ‘Government Shutdown’ Won’t Impact PH Economy

  1. IS obama THE RIDICULOUS PUPPET OF JACOB ROTHSCHILD, BENJAMIN DE ROTHSCHILD, ARIANE DE ROTHSCHILD AND EVELYN DE ROTHSCHILD ?

    ” LaRouche: Behind The Shutdown & Debt Ceiling Swindle Wall St. Orders Obama To Kill Glass-Steagall

    PDF leaflet available here. http://larouchepac.com/node/28432

    Wall Street had demanded that President Barack Obama stop the reinstatement of Glass Steagall at all costs and instead move ahead with more bailouts and bail-in looting of the American people to preserve their thoroughly bankrupt system. The Wall Street policy means an acceleration of crippling hyperinflation, devastating austerity and, ultimately, mass murder of the nation’s most vulnerable citizens.
    Several highly qualified Washington sources have confirmed that this was the ultimatum delivered by the Wall Street delegation that met privately with Obama on Wednesday afternoon Oct. 2 at the White House. The delegation was organized by the Financial Services Forum, a coalition of the nation’s 19 biggest banks and insurance companies, and included Jamie Dimon, CEO of JPMorgan Chase; Lloyd Blankfein, CEO of Goldman Sachs; Brian Moynihan, CEO of Bank of America; Michael Corbat, CEO of Citibank; and Anshu Jain, CEO of Deutsche Bank.
    IMF Managing Director Christine Lagarde delivered the same message in an interview with the Financial Times on Oct. 4, in which she demanded that the Federal Reserve maintain the $85 billion a month quantitative easing bailout of the top Wall Street and Europe banks indefinitely. And Treasury Secretary Jack Lew, speaking for Obama, threatened that any U.S. default will trigger a financial crisis far worse than the September 2008 meltdown.
    The reality, as bluntly stated by Lyndon LaRouche today, is that the ongoing government shutdown and threatened default on U.S. sovereign debt on Oct. 17 is nothing more than an orchestrated swindle, aimed at conditioning the American people for the murderous policies that have already been accepted by Obama and by leading Congressional Republicans.
    LaRouche warned: “Unless Glass Steagall is passed into law immediately, Obama and Wall Street plan to unleash the worst mass murder austerity and looting of the American people ever. The total separation of commercial banking from all the gambling activities under Glass Steagall is the only remedy. Bankrupt Wall Street now, before they can unleash their genocidal schemes full-force. President Obama is nothing but a tool of these Wall Street interests, as evidenced by his slavish commitment to maintain the bailout/bail-in program and stop Glass Steagall.”
    LaRouche continued: “In a matter of days or weeks, Obama and his Congressional Republican cohorts, on orders from Wall Street, are going to unleash absolute Hell on the American public through even deeper killer austerity cuts than the sequestration of the past months. The government shutdown is the biggest dog and pony show ever, intended to prepare the population to accept more hyperinflation, more bailouts and bail-ins, and worsening conditions so that Wall Street can survive a bit longer while honest, hard-working Americans die in ever greater numbers.
    “It is time for Congress to break from Wall Street and the bankers stooge in the White House, and do the only thing that can set the United States back on a course of genuine prosperity: Pass Glass Steagall by a veto-proof majority this week.”
    “By passing Glass Steagall, the vise-grip of Wall Street is immediately broken. Once the too-big-to-fail banks are no longer kept alive by tax-payers bailouts and depositor bail-ins, they go under. Good riddance! We are then left with a viable but undercapitalized commercial banking system and with an immediate opportunity to revive Federal government credit to launch great economic projects like NAWAPA and an Apollo-style crash international program for commercial thermonuclear fusion energy.”
    “The moment of truth has arrived,” LaRouche concluded, “and I call on the American people to demand that Congress stop behaving like a bunch of corrupt fools, going along with the Wall Street Obama swindle. Pass Glass Steagall, wipe out the power of Wall Street and their European allies, and get on with the business of reviving this nation and the world around a plan of genuine development, as my colleagues and I have spelled out.” ” http://larouchepac.com/node/28430 http://larouchepac.com/node/28498

    ( OBAMA AGAIN PULLS THE PLUG ON WASHINGHTON TALKS; LAROUCHE SAYS THE ONLY VIABLE DEAL REQUIRES REMOVING OBAMA FROM OFFICE http://larouchepac.com/node/28523 )

    WHO CONTROLS WALL STREET AND obama ?

    1) ” JPMORGAN Chase has an International Council which provides advice to the bank’s leadership on economic, political and social trends across various regions and around the world. The International Council is chaired by TONY BLAIR, former Prime Minister of the UK, who also sits as an adviser to Zurich Financial. ” http://www.occupy.com/article/global-power-project-part-4-banking-influence-jpmorgan-chase
    THE BLAIR’S FAMILY HAS FRIENDSHIPS WITH THE FAMILY OF JACOB ROTHSCHILD. https://en.wikipedia.org/wiki/Jacob_Rothschild,_4th_Baron_Rothschild
    http://www.telegraph.co.uk/news/celebritynews/6672904/Roman-Polanski-will-be-too-late-to-complete-his-film.html
    “Tony Blair. Illegitimate Son Of Jacob Rothschild….Evidence”
    http://the-tap.blogspot.com/2012/06/can-you-spot-it.html
    TONY BLAIR IS ALSO A FRIEND OF EVELYN DE ROTHSCHILD AND OF HIS WIFE . https://en.wikipedia.org/wiki/Evelyn_Robert_de_Rothschild
    http://www.dailymail.co.uk/news/article-1138789/Now-Tony-Blairs-finally-got-private-jet-hes-wanted-rented.html
    NOW WE MUST NOTICE A STRANGE COINCIDENCE:” TONY BLAIR A GREAT FRIEND OF JACOB ROTHSCHILD AND ALSO GREAT FRIEND OF EVELYN DE ROTHSCHILD AND “CASUALLY” HE FOUND A GOOD PLACE IN THE BANK JP MORGAN”. http://www.rawstory.com/rs/2012/05/28/heckler-brands-tony-blair-a-war-criminal-over-jpmorgan-payments/
    http://landdestroyer.blogspot.de/2012/05/protester-calls-tony-blair-war-criminal.html http://www.thisismoney.co.uk/money/celebritymoney/article-2167655/Former-PM-Tony-Blair-alleged-earned-80million-2007.html
    http://www.thisismoney.co.uk/news/article-2167038/Tony-Blair-earned-20m-just-year-advising-business-bosses-foreign-governments.html
    JP MORGAN IS ALSO CONNECTED WITH THE EDMOND DE ROTHSCHILD CONTROLLED BY BENJAMIN DE ROTHSCHILD ( https://en.wikipedia.org/wiki/Benjamin_de_Rothschild) AND BY HIS WIFE
    ARIANE DE ROTHSCHILD ( https://en.wikipedia.org/wiki/Ariane_de_Rothschild ). http://uk.linkedin.com/pub/juan-bergas-sastre/22/39/898/en http://www.zoominfo.com/p/Richard-Madeley/89504503
    ( NAZI ” j.p. morgan SAYS POST-WWII ANTI-FASCIST CONSTITUTIONS ARE OBSTACLE TO REIMPOSING FASCISM ” http://larouchepac.com/node/26996 )
    http://waronyou.com/forums/index.php?topic=25529.0 http://larouchepac.com/node/28338
    ” How Citibank and JP MORGAN Crafted Argentina’s Shock Therapy Program, January 2006
    In this interview with the Lavaca Collective, historian Alejandro Olmos Gaona reveals that the banks JP MORGAN and Citibank wrote Argentina’s shock therapy program. Accoreding to Gaona, the economic plan mandated, “ the privatization of utilities, the labor law reform, the privatization of the pension system. It is all laid out with great attention to detail…. one believes that the economic plan pursued since 1992 was Domingo Cavallo’s creation, but that’s not the way it is.”
    Argentina’s former Economy Minister discusses the impact of Argentina’s shock therapy measures, stating that 700,000 workers were fired during this period. ”
    http://www.naomiklein.org/shock-doctrine/resources/part3/chapter8
    ( IS LONDON RUNNING WETWORKS IN ARGENTINA AIMED AT PRESIDENT CRISTINA FERNANDEZ DE KIRCHNER? http://larouchepac.com/node/28526 )

    2) GOLDMAN SACHS IS CONTROLLED BY BLACKROCK.
    ” BlackRock says it owns about 6.2% of Goldman and 5.4% of Morgan Stanley ” http://advisor.morningstar.com/articles/printfriendly.asp?s=&docId=18573&print=yes
    ” Merrill Lynch & Co., Inc., a wholly-owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc. and Barclays PLC own economic interests in BlackRock approximating 34.1%, 24.6% and 19.9%, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees.”
    http://publicintelligence.net/blackrock-inc/
    Bank of America is connected with the person of Warren Buffet a notorious friend of JACOB ROTHSCHILD.
    http://www.huffingtonpost.com/2011/11/14/warren-buffett-ibm_n_1092165.html
    JACOB ROTHSCHILD “Hosted the European Economic Round Table conference in 2002 at Waddesdon Manor, attended by such figures as James Wolfensohn, Nicky Oppenheimer, Warren Buffet, and Arnold Schwarzenegger ” https://wikispooks.com/ISGP/organisations/introduction/PEHI_Jacob_de_Rothschild_bio.htm
    Bank Of America and Merrill Lynch are also related with the Edmond De Rothschild, owned by BENJAMIN DE ROTHSCHILD AND ARIANE DE ROTHSCHILD, through the persons of Gerald Levy, Matthieu Walterspiler, Barbara Colombo, Beate Bakker, etc… https://en.wikipedia.org/wiki/Benjamin_de_Rothschild https://en.wikipedia.org/wiki/Ariane_de_Rothschild
    http://www.linkedin.com/pub/gerald-levy/60/b49/b87 http://uk.linkedin.com/in/walterspiler http://www.linkedin.com/pub/barbara-colombo/26/b21/766 http://ch.linkedin.com/pub/beate-bakker/16/a55/491
    Warren Buffet is also a friend of EVELYN DE ROTHSCHILD.
    https://wikispooks.com/ISGP/organisations/introduction/PEHI_Evelyn_de_Rothschild_bio.htm
    The same Warren Buffet, that is chairman of Berkshire Hathaway, ” agreed to purchase $5 billion in Goldman’s preferred stock “.
    https://en.wikipedia.org/wiki/Goldman_Sachs https://en.wikipedia.org/wiki/Berkshire_Hathaway
    Barclays is a bank related with the British Royal Family and therefore connected with JACOB ROTHSCHILD and EVELYN DE ROTHSCHILD.
    ” Lord JACOB ROTHSCHILD, the behind-the-scenes controller of the Inter-Alpha Group, was a partner at Rothschild at the time he set up the Inter-Alpha Group in 1971, using its resources and then leaving in 1980 to continue his special mission, which includes advising the genocidal British Crown and managing the funds of Prince Charles’ Duchy of Cornwall, to finance his kooky, “green” schemes.”
    http://unitednationsoffilm.com/?p=1728
    ” Prince Charles already played polo with EVELYN DE ROTHSCHILD in his student years and later set up the Interfaith consultations with him. ”
    http://www.gnosticliberationfront.com/people_with_the_endless_bios.htm
    EVELYN DE ROTHSCHILD ” In 1989, he was knighted by Queen Elizabeth II,[2] for whom he serves as a financial adviser. ” https://en.wikipedia.org/wiki/Evelyn_Robert_de_Rothschild
    Barclays Bank and Royal Bank of Scotland are also linked with BENJAMIN DE ROTHSCHILD AND ARIANE DE ROTHSCHILD.
    http://www.linkedin.com/pub/laura-scolan/a/ba1/7b7 http://www.linkedin.com/pub/mark-phillips/4/5b9/772 http://it.linkedin.com/pub/guido-corsetti/a/67a/44a http://www.linkedin.com/pub/nicolas-jugniot/b/78/884
    ( Goldman Sachs’s Himes Joins Obama in Putting Entitlement Cuts on the Table http://larouchepac.com/node/28506 )
    ( Bankster Mouthpiece Comes Out as Nazi: We Have A Crisis Because People Are Living Too Long http://larouchepac.com/node/28502 )
    ( LaRouche PAC Gears Up National War on Wall Street http://larouchepac.com/node/28483 )
    ( Obama and Congress Set to Sell Out American People http://larouchepac.com/node/28507 )
    http://prof77.wordpress.com/politics/an-updated-list-of-goldman-sachs-ties-to-the-obama-government-including-elena-kagan/ http://www.bbc.co.uk/news/uk-13489879
    GOLDMAN SACHS CONTROLS ALSO THE EUROPEAN UNION BECAUSE MARIO DRAGHI, THE CHIEF OF THE EUROPEAN CENTRAL BANK, IS A MAN OF GOLDMAN SACHS.
    http://www.independent.co.uk/news/business/analysis-and-features/what-price-the-new-democracy-goldman-sachs-conquers-europe-6264091.html
    ( FIVE YEARS LATER: RED CROSS, CARITAS WARN OF EUROPE’S DESCENT INTO HELL http://larouchepac.com/node/28529 )

    3) WE CAN NOTICE RELATIONS AMONG LORD JACOB ROTHSCHILD AND DEUTSCHE BANK.
    DAVID HAYSEY ” HEAD OF PUBLIC EQUITIES AT RIT CAPITAL PARTNERS ” AND IN THE PAST ” DIRECTOR AT J ROTHSCHILD CAPITAL MANAGEMENT ” HAS BEEN ” MANAGING DIRECTOR AT DEUTSCHE BANK ” http://uk.linkedin.com/pub/david-haysey/1b/470/bb3
    ” In 2012 RIT Capital saw management changes with the exit of investment director Mikael Breuer-Weil and the appointment of Ron Tabbouche. The first half of 2013 saw further changes with the resignation of David Haysey, head of public equity and manager of the RIT global quality portfolio. ” http://www.iii.co.uk/articles/110881/oriel-rates-lord-rothschilds-rit-capital-positive
    RON TABBOUCHE HAS BEEN SALES ANALYST AT DEUTSCHE BANK. http://www.trustnet.com/Managers/ManagerFactsheet.aspx?personCode=00000065RA&univ=O
    Today, Jacob [Rothschild] is Chairman of RIT Capital Partners plc, one of the largest investment trusts quoted on the London Stock Exchange with a net asset value of about £2 billion.[5] He is Chairman of J Rothschild Capital Management, a subsidiary of RIT Capital Partners plc. https://en.wikipedia.org/wiki/Jacob_Rothschild,_4th_Baron_Rothschild
    THERE ARE ALSO LINKS AMONG EVELYN DE ROTHSCHILD AND DEUTSCHE BANK.
    VERNON JORDAN, THE BIG FRIEND OF EVELYN DE ROTHSCHILD AND LYNN DE ROTHSCHILD, HAS BEEN A DIRECTOR OF DEUTSCHE BANK.
    http://www.companiesintheuk.co.uk/director/8570529/vernon-jordan-jr
    ” LYNN [the wife of EVELYN DE ROTHSCHILD] is the CEO of ELR Holdings and became a director of The Economist in 2002. She launched FirstMark Communications in the late 1990s and got EVELYN DE ROTHSCHILD, Henry Kissinger, Vernon Jordan (senior managing director LAZARD; close Clinton friend and advisor; friend of EVELYN DE ROTHSCHILD; permanent Bilderberg visitor), Michael J. Price (former managing director LAZARD), Nathan Myhrvold (former CEO Microsoft; PPI Task Force member), and others as its initial directors.”
    ” In late August 2004, Clinton and his wife Hillary, EVELYN DE ROTHSCHILD, LYNN DE ROTHSCHILD, Vernon Jordan, and Prince Andrew were all hanging out at the Vineyard at their very own “Anyone but Bush” party. Rothschild and Jordan were jointly celebrating their birthdays that day. Together with his wife he attended the 32nd Williamsburg Conference in Delhi in 2004. ” https://wikispooks.com/ISGP/organisations/introduction/PEHI_Evelyn_de_Rothschild_bio.htm
    DEUTSCHE BANK IS CONNECTED ALSO WITH THE EDMOND DE ROTHSCHILD OWNED BY BENJAMIN DE ROTHSCHILD ( https://en.wikipedia.org/wiki/Benjamin_de_Rothschild ) AND BY HIS WIFE
    ARIANE DE ROTHSCHILD ( https://en.wikipedia.org/wiki/Ariane_de_Rothschild ).
    http://in.linkedin.com/pub/nicolas-hindi/31/912/265
    ” Deutsche Bank, now the number one derivatives- and currency-trading bank in the world through its City of London operation, survived to become what it is now — a monster with a $72 trillion derivatives portfolio — because it was massively bailed out in October 2008 by Timothy Geithner and the New York Fed.” http://larouchepac.com/node/26698
    ( UNITED KINGDOM IS A PROTECTORATE OF DEUTSCHE BANK http://blogs.telegraph.co.uk/news/maryriddell/100033519/with-bankers-as-his-friends-david-cameron-needs-no-enemies/ )
    UNITED KINGDOM GOVERNMENT DENOUNCED FOR CRIMES AGAINST DISABLED PEOPLE TO INTERNATIONAL CRIMINAL COURT IN THE HAGUE
    http://www.mssociety.org.uk/forum/everyday-living/united-kingdom-government-denounced-crimes-against-disabled-people-internation
    EXCLUSIVE: RED CROSS LAUNCHES EMERGENCY FOOD AID PLAN FOR UK’S HUNGRY
    http://www.independent.co.uk/news/uk/home-news/exclusive-red-cross-launches-emergency-food-aid-plan-for-uks-hungry-8872496.html
    ALSO GREECE IS A PROTECTORATE OF DEUTSCHE BANK http://www.larouchepub.com/hzl/2011/3829banks_dictate_eu_bailout.html
    ( GREECE MULLS “DEBT CAMPS” FOR TAXPAYERS http://libertyfirewall.com/2013/06/01/greece-mulls-debt-camps-for-taxpayers/ )
    http://www.keeptalkinggreece.com/2012/11/22/greece-in-crisis-dramatic-increase-of-suicides-3124-people-in-2009-2012/
    http://www.keeptalkinggreece.com/2013/07/31/austrian-ngo-supplies-greek-hospital-with-drugs-paramedic-material-for-uninsured-patients/

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