THE world economy faces its worst downturn since the Great Depression of the 1930s, the United Nations warns amid complacency in the international community about the impact of the global financial crisis on poorer countries.

The United Nations expects world economic output to shrink by as much as 0.4 percent in 2009, due to a slump in developed countries, particularly the United States and in Europe, according to a BBC News report.

This would mark the world economy’s first contraction since the 1930s, says the UN report. “It seems inevitable that the major countries will see significant contraction in the period ahead and that recovery may not materialize any time soon, even if the bailout and stimulus package succeed,” it said.

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LET’S give credit where credit is due.

Of all our government agencies involved in coping with the worldwide financial turmoil, the Bangko Sentral ng Pilipinas (BSP) stands out like a beacon for Philippine banks in a turbulent sea.

Quite possibly, of course, it may be too early to congratulate the BSP and its policymaking body, the Monetary Board, at this time. We have yet to see where the global economic crisis that was triggered by the subprime problem in the United States will end. As they say, we still can’t see the light at the end of the tunnel.

So far, I can see the BSP has been very stable and very calm. Its moves are calibrated and perfectly calculated. It has succeeded in managing the situation, even after several domestic banks admitted they had exposures in Lehman Brothers Holdings, one of the US’s major investment banks that collapsed in the wake of the subprime problem.

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THE bloody assault by Muslim militants which brought carnage to Mumbai, India, were so sudden that Indian security forces were practically caught flatfooted, resulting in the murder of some 200 people, mostly tourists in a five-star hotel in Mumbai.

The assaults indicated that it was very well-organized. The attackers knew beforehand where their targets were and, in my book, this sudden and violent attack in Mumbai, trade and business center may have been prevented if the Bush doctrine of preemptive strike had been adapted in India, considering that even with the cease-fire agreement between Pakistan and India, Pakistan militants who are fighting what they consider as a holy war for Kashmir are always a lurking danger for the Indians.

Many people all over the world have tried to demonize President George W. Bush for his preemptive strike doctrine after 9/11, but they did not realize that it was this doctrine that prevented another 9/11 in the US. With terrorism on the rise worldwide, the Bush doctrine, showing that the best defense is offense, must be recognized as the correct doctrine today.

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ILOILO in the 1920s and the 1930s was considered as the “Queen City of Southern Philippines”. Aside from its reputation as the commercial entrepot and cultural capital of the Visayas, Iloilo also pride itself at that time as the home of the most modern transportation facilities, both in land and water. But other than this is the fact that Iloilo was also claimed to be the cradle of modern air transportation in the Philippines. No doubt, the availability of comfortable and convenient means of transportation contributed much to Iloilo’s prominence.

The Ilonggos were among the first to become “air conscious” and to travel in style. This is due to the fact that Iloilo City was reputed to be the birthplace of Filipino enterprise in commercial transportation. The Philippines’ first passenger air service between Iloilo and Bacolod was operated by Jose Tinsay, an Ilonggo, in 1925 (David 1937; Angayen 1985).

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DECEMBER 3, across USA skies—As I write this with my laptop on my knee, Rudy and I are winging from California of the West Coast to South Carolina of the East Coast. From the panoramic rim of the Pacific Ocean to the meandering coastline of the Atlantic Ocean. From one daughter’s family to another daughter’s family. It’s a long, long flight for these retirees—enough to faze arthritic 70-agers like us.

We started 7:00 a.m. at Redding, for a 1-hour-and-50-minute flight to Los Angeles which is still very much in California soil, to be marooned at LA for a 2-hour-and-15-minute stopover. Change plane for a flight of 4 hours and 26 minutes to Charlotte airport in North Carolina. Change plane again for a final 1 hour and 4 minutes to Savannah, Georgia (this state is beside our destination in South Carolina), where the members of the clan are meeting us. The e-ticket is very detailed. Three different planes, all for flying a total of 2,826 miles. Statistics that bore when read, reek with hassle once acted, but what the heck, very soon we will be seeing dear, dear Danika, the grandkid!

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IN the Kingdom by the River, the Trio Los Bobos comprising Kuyabog, Tibakla and Sirum-Sirum never learned their leasons.

They were caught red-handed when they harbored the notorious Kuneho the Contractor to supply a kingdom hospital an unbranded and overpriced sterilizing machine.

Kuneho who has been disqualified once but was reinstated because Kuyabog acted as her legal counsel, is now crying where to recover the huge sums she used to greased the palms of the officials of the Kingdom with, namely Kuyabog, the Cutter and Tamodios the GSO man. The COA already disallowed the transaction and ordered her and members of the bids and awards committee to reimburse the amount.

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BACOLOD CITY — The arms of the law may be slow but they are long. In the end, they will catch up with you.

Former Antique Governor Jovito Plameras has been meted a 10-year jail term for graft and corruption. During his term he purchased more than P5 million worth of desks, which was found later to be irregular.

Our problem now is our people do not learn.

CBCP president and Jaro Archbishop Angel Lagdameo has called on all to fight corruption and at the same time to look for honest leaders.

We support Archbishop Lagdameo.

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OUR good friend and colleague Alex Vidal – now in Las Vegas to cover the Manny Pacquiao-Oscar De La Hoya non-title “Dream Match” – believes it would be hard for our man Manny to beat the bigger Oca. De La Hoya is llamado because he enjoys the edge in height at 5′ 11″ to Pacquiao’s 5′ 6″ and reach at 73 inches compared to Pacquiao’s 68 inches.

But Alex sent me a text message with a quotation from boxing analyst Joaquin Hagedorn: “Although there is difference in size, you can’t measure a man’s heart.” In other words, the Filipino’s strength will come from his heart.

Boxing being a big business in the United States, no one can truly vouch for the game’s credibility. We all have heard of matches that end up subtly rigged – even Mafia-influenced.

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THAILAND’S Constitutional Court ended the blockade of that country’s main airports by opposition party protesters on Tuesday when it banned Prime Minister Somchai Wongsawat from standing for office for five years, and dissolved three of the parties of his ruling coalition after finding them guilty of vote-buying in the December 2007 elections.

The removal of Somchai, brother-in-law of the exiled former prime minister, Thaksin Shinawatra, who was toppled in a military coup in 2006 amid widespread public protests over corruption, ended the week-long occupation of the airports by protesters from the opposition People’s Alliance for Democracy (PAD). It defused the latest constitutional crisis in Thailand. The protesters allowed flights to resume at Bangkok’s Suvarnabhumi international airport within hours of the court decision which found Somchai’s People Power Party (PPP) and their coalition allies, Chart Thai and Matchima Thiptay, guilty of vote-buying in last year’s elections which they won.

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BACOLOD CITY — I believe there is no way the Constitution can be amended through a Constituent Assembly. The opposition has been so strong that any one who defies it must be too intent on pursuing a personal or political agenda.

But there is a very big reason for that growing opposition. They do not trust the Congressmen drafting the Constitution. They are afraid, and they may have all the reasons to fear that these Congressmen will draft a Constitution that will be for their own private interest. Not the interest of the country.

Sad really! But the Congressmen have brought it upon themselves.

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