Tag Archives: Economy

SAN FRANCISCO HOUSING RENTS, CAR OWNERSHIP HIT ALL-TIME LOW!

April 22, 2015 Pol Pinoy Leave a comment

SAN FRANCISCO, California (The Adobo Chronicles) – If you left your heart in San Francisco, now is the best time to go back. What was once among the most expensive major U.S. cities to live in is becoming a haven for low to middle-income earners.

Until recently, the average rent for a one-bedroom and one-bath apartment was $2, 500 a month, garage extra. Now, the same size apartments are going for $1,000 to $1,500 a month. Studios are now renting for an average of $600 per month. The rents also include two bike racks.

Speaking of bikes, a new city-wide survey shows that car ownership is shrinking, down by almost 60%, thanks to the ever-increasing number of bike-only lanes in major thoroughfares throughout The City by the Bay.

Ex-car owners interviewed by The Adobo Chronicles said that it no longer makes sense to own a car in the city, since most streets and roadways have been painted green, indicating bike-only lanes. “Between the bike lanes and red-painted buse and taxi-only lanes, private cars have practically been booted out,” said San Francisco resident Mike Bello who sold his Range Rover and purchased a mountain bike.

Craigslist and other social media sites have seen a significant increase in the number of ads for surprisingly affordable apartment rentals, like this one:

Economy, International, Politics, The Media

FORBES ARTICLE GOT IT ALL WRONG ABOUT THE PHILIPPINES’ BUDGET DEFICIT, AQUINO GOVERNMENT INSISTS

October 8, 2014 Pol Pinoy Leave a comment

Manila, Philippines (The Adobo Chronicles) – The Aquino government blasted a recent article in Forbes magazine claiming that the Philippines’ economic boom is a bubble waiting to burst.

The article was authored by economic analyst Jesse Colombo who writes that the Philippines’ economic progress and status as an emerging market — often touted by President Aquino in his state of the nation address and speeches abroad — is deceiving. Colombo points to the continued disparity between the few rich people and the rest of the population and that investors’ insatiable hunger for emerging market debt has caused the Philippines’ external debt to spike in recent years.

Specifically, Aquino’s Budget Secretary Florencio Abad challenged the claim by Colombo that the Philippine government has been running a budget deficit since 1999, which includes the last 5 years of the Aquino administration.

Pointing to the graph showing the deficit years, Abad said Forbes magazine seems to have inverted the graph, and that the bars showing the deficit should be pointing upwards instead of downwards. He said this is how the graph should look like:

inverted

It appears that Abad failed to recognize the source of the graphic — the Aquino administration’s own Department of Finance.

Economy, International, Politics

PHILIPPINE PRESIDENT AQUINO TOUTS ACCOMPLISHMENTS IN A SPEECH IN MADRID, CITES WORSENING TRAFFIC

September 15, 2014 Pol Pinoy 1 Comment

Madrid, Spain (The Adobo Chronicles) – Philippine President NoyNoy Aquino, who is visiting Spain, took time to speak before the Filipino community in Madrid, touting the accomplishments of his administration.

Aquino took credit for his country’s improved economy, the successful war against government corruption, massive upgrading of airports, and even the impressive showing of the Philippine basketball team at the ongoing World Cup.

“We have also seen a change in the nightmarish traffic situation in Metro Manila and other urban cities,” Aquino said, “it has gotten worse.” Aquino received a standing ovation after he made this statement.

Meanwhile, hours after boasting of the country’s economy, the Philippine peso lost 0.5 percent at 44.130 pesos to the U.S. dollar, the weakest rate since August 8.

Back in the Philippines, Aquino’s critics said the president needs a new eyeglass prescription. “His bifocals seem to let him see two different things at any given time: his imaginary reality and the real plight of the country outside of the presidential palace,” they said.