{"id":80723,"date":"2009-12-14T08:04:38","date_gmt":"2009-12-14T13:04:38","guid":{"rendered":"http:\/\/www.businessinsider.com\/financial-bubble-spreads-to-the-phillipines-where-markets-are-soaring-despite-terrible-economy-2009-12"},"modified":"2009-12-14T08:04:38","modified_gmt":"2009-12-14T13:04:38","slug":"financial-bubble-spreads-to-the-phillipines-where-markets-are-soaring-despite-terrible-economy","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/80723","title":{"rendered":"Financial Bubble Spreads To The Phillipines, Where Markets Are Soaring Despite Terrible Economy"},"content":{"rendered":"<p>MANILA &#8211; The buoyant Philippines&#8217; stock market, which has almost doubled in the  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tpast nine months, might suggest a similarly lively economy, yet government  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tstimulus spending is failing to make a dent in the jobless rate, and economic  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tgrowth is barely showing. \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p> The Philippine Stock Exchange PSEi Index has surged from below 1,800 in  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tmid-March to over 3,000. Yet 2.9 million Filipinos of working age were unemployed as  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tof July, with the unemployment rate rising to 7.6% that month from 7.4% a  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tyear earlier, according to the National Statistics Office. Workforce  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tparticipation &nbsp;was at 64.6% against 64.3% for the same period last year. \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p> The economy is expected barely to grow this year, possibly between 0.8% and 1.8%, before recovering to between 2.6%-3% in 2010. \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p> &#8220;What is recovering is the <span class=\"IL_AD\">stock market<\/span>, mainly the financial sector,&#8221; said  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tRene Ofreneo, a labor and <span class=\"IL_AD\">industrial relations<\/span> expert and executive director of  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tthe multi-sectoral <span class=\"IL_AD\">Fair Trade<\/span> Alliance. &#8220;Right now, only the call centers are  \t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\thiring, but even that is not at the rate that was originally projected.&#8221;<\/p>\n<p><a href=\"http:\/\/www.atimes.com\/atimes\/Southeast_Asia\/KL15Ae01.html\">Read the whole story at Asia Times Online &gt;&gt;<\/a><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/financial-bubble-spreads-to-the-phillipines-where-markets-are-soaring-despite-terrible-economy-2009-12#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/how-ben-bernanke-is-literally-herding-investors-into-stocks-2009-11\">How Ben Bernanke Is Literally Herding Investors Into Stocks<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/jpmorgan-emerging-markets-will-surge-30-in-2010-2009-12\">JPMorgan: Emerging Markets Will Surge 30% In 2010<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/in-store-for-international-banks-2009-11\">How To Bet On Emerging Market Banks<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/ZXFHFMMsPj8\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8211; The buoyant Philippines&#8217; stock market, which has almost doubled in the past nine months, might suggest a similarly lively economy, yet government stimulus spending is failing to make a dent in the jobless rate, and economic growth is barely showing. The Philippine Stock Exchange PSEi Index has surged from below 1,800 in mid-March [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-80723","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/80723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=80723"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/80723\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=80723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=80723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=80723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}