When $ drops

When this happens this will have an automatic economic implications to all of us. Previous months up to present are undeniably difficult for each country. Prices are drastically escalating for obvious reasons. As gas and oil increase other essential products will be seriously and unwantedly affected. Wheat, rice, maize and all milk made products are the major commodities which are really affected. I heard over the radio that there are few American tourists in France according to radio announcers and they tried to justify why. One of the announcers called a hotel asking hotel room rates. The announcers tried their best to speak in English (with a French accent) and they were giggling with each other because of their accent. They didn’t mention what hotel it was but the receptionist gave them the tariffs for 525 euros with two options, a terrace with view from the beach and view from the other side of the suite. The explanation of the receptionist was quite fast because she noticed that person on the other line was not very serious so she hang up!

I’ve been constantly hearing over the news in regards to the diminishing value of dollars in the United States which is one consequence of cheaper real states. The dollar has plunged brusquely during the last year. Presently, one has to pay about $1.54 for 1.00 euro. Faced with declining dollar rate I read that Americans start to force selling of their signature and non-signature stuffs to pay debts. I have been mulling over if dollar is trailing its value, how could Philippine currency survived? Will regular employee carry on with a minimum wage of P350.00/per day to make ends meet? Experiencing price hike on rice for P36/kilo (first class), with NFA sells it for P18.00/kilo (person needs to queue) and the cost of Pandesal is at P2.00/piece not to mention the transportation and other expenses? I don’t know the answer and this is a discouraging situation for everyone even if we aren't completely affected.