The Grumpy Economist

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MANILA, Philippines — The advance cost of P600 to the Residence Development Mutual Fund (Pag-IBIG Fund) by departing Filipino staff might have been suspended, however Vice President Jejomar Binay mentioned overseas Filipino employees (OFWs) must be convinced that will probably be useful to them in the long run. This, I think, is what brought about the near melancholy. When you have a look at economic figures and comments from CEOs all over the world, the Lehman chapter is what precipitated cash to cease flowing and phones to cease ringing. That is when the financial system principally had a heart assault and simply stopped functioning.

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