The Philippines has more cash than the US government?
According to Businessinsider.com, the US has only $54billion in cash. The Philippines had $68 billion at the end of June (and rising).
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There are two neighbors, Juan and John.
John owns restaurants, car dealerships, cinemas and other businesses. Some of his businesses aren't doing so well lately, in fact he just lent them some fresh capital.
He also lives a lavish lifestyle and wants to pay for the hospital bills of his poorer relatives, but his well-off cousins don't want to pay for these bills because they want to keep the money in their businesses and say these poorer relatives should work for their living. Besides they are busy supporting some turf wars in the neighborhood. John has to pay some bills but his checking account balance is running low unless he can borrow some fresh funds from the bank. Of course the banks are willing to lend money because he has a number of businesses but are getting worried about all the squabbling.
Juan doesn't have much, in fact he just waits for the remittances of his OFW children and the contribution from another child working in the call center. But for now, his checkingn account has a bigger balance than John's.
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There are two neighbors, Juan and John.
John owns restaurants, car dealerships, cinemas and other businesses. Some of his businesses aren't doing so well lately, in fact he just lent them some fresh capital.
He also lives a lavish lifestyle and wants to pay for the hospital bills of his poorer relatives, but his well-off cousins don't want to pay for these bills because they want to keep the money in their businesses and say these poorer relatives should work for their living. Besides they are busy supporting some turf wars in the neighborhood. John has to pay some bills but his checking account balance is running low unless he can borrow some fresh funds from the bank. Of course the banks are willing to lend money because he has a number of businesses but are getting worried about all the squabbling.
Juan doesn't have much, in fact he just waits for the remittances of his OFW children and the contribution from another child working in the call center. But for now, his checkingn account has a bigger balance than John's.
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