Worst Place to be an OFW in

Well, I have Economic data to prove it: It is worst to be an overseas Filipino worker in the country where I am currently in. No wonder I get all this nostalgia. Haha.


It’s a print screen view of just one of the gazillion types of data that one can get from a Bloomberg station computer. And in the light of the global recession that every nation is slowly admitting to happen, South Korea is being hit the hardest in all aspects of the economy.

Even without going so technical and fully understanding what the data presents, seeing South Korea at the bottom with the longest red line and the largest negative rate will already give you hint that the country is not doing well.

Add to that is the fact that the Philippines is among the ranks of the mostly affected currencies in the current credit crunch and the general financial crisis.

And in its most practical sense, without fully understanding how the daily currency rate is derived, the very fact that I have to lose more won value to buy a lesser dollar value, it means that my same amount of salary in won is worth much less in peso now.

That I'll need longer time to pay all my credits. That I will have to work my ass much, much harder. That I need to curb unncessary consumption. That I am just plain lucky to at least have a job that pays for the time being.

END OF POST. NO MORE