THE GOOD SIDE OF A CRISIS

Credit crunch. Credit crisis. Liquidity crisis. Economic meltdown. Called by any other label, it has become a global financial crisis. The effects are far-reaching, affecting a wide range of financial and economic activities and institutions. It is here and, as analysis say, the worst is yet to come.
It began as banking and credit crisis in the US in July 2007 that had a global reach. The crisis continues to develop, prompting fears of a global economic collapse.
The Philippines was not spared. Thousands of overseas and local workers have been laid off and more are feared to lose their jobs. Companies readily affected by the crisis are closing down.
The US, China, Australia and many other nations have developed economic stimulus packages to remedy his financial crisis.
To the common Filipino, this means more belt-tightening and lesser spending on non-essentials, and maybe even on basic needs.
The crisis although by its name alone connotes negative things, has taught us to rethink our spending habits and to priorities the more important things in life.
Many people invest on and put their trust in things that do not last, and which turn out to be the first devalued when financial markets collapse.
This is at time of crisis and turmoil, but also a time to think over and seek that which brings true joy and peace in the midst of hardships and disorder.

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