I think it's still too early to tell, and Forbes could have used some tact considering its reputation in the private business sector. It could potentially make the situation even worse, but then that's probably overestimating Forbes' influence.
The chart below shows the current status of the US subprime crisis:
http://en.wikipedia.org/wiki/Image:Subprime_diagram.png
If we look carefully at all the proposed responses, they are technically adequate but need to be played out thoroughly for any conclusion to be made. At the moment, the economic situation is bad but not terrible. A downturn is different from a recession, which is usually characterized by six straight months of decline, continued by an extremely slow period of growth. Also, the Philippines might not be affected as much as you guys might think, since there are Filipinos all over the world and it is only the US (and Japan because of its export orientation to the US) that is going to potentially suffer from a downturn in the US home economy, and I'm getting redundant. Despite the stock markets crashing, the economies in individual continents like Europe and Asia are actually in good shape.
If more than three people here are interested, I can write a long substantiation of my views with technical details. I am sorry to disappoint you but AppleHead is a nerd.
The chart below shows the current status of the US subprime crisis:
http://en.wikipedia.org/wiki/Image:Subprime_diagram.png
If we look carefully at all the proposed responses, they are technically adequate but need to be played out thoroughly for any conclusion to be made. At the moment, the economic situation is bad but not terrible. A downturn is different from a recession, which is usually characterized by six straight months of decline, continued by an extremely slow period of growth. Also, the Philippines might not be affected as much as you guys might think, since there are Filipinos all over the world and it is only the US (and Japan because of its export orientation to the US) that is going to potentially suffer from a downturn in the US home economy, and I'm getting redundant. Despite the stock markets crashing, the economies in individual continents like Europe and Asia are actually in good shape.
If more than three people here are interested, I can write a long substantiation of my views with technical details. I am sorry to disappoint you but AppleHead is a nerd.
