amy's death; america's debt
it was a sad sad week. it was all about death and debt.
first the killings of nearly a hundred young people in oslo, the picturesque european city seen as least likely to fall victim to such gruesome crimes.
then the great amy winehouse was found dead in her london apartment for what many believed was related to her alcohol and drug addictions.
may they (amy winehouse and the oslo victims) rest in peace.
*********
as if these were not enough, the united states of obama is facing a debt crisis as congress is running out of time to hammer out a legislation that would raise the country's debt ceiling from $14.3 trillion. the deadline is for lawmakers to pass the law raising the credit limit by august 2.
if not, the once mighty economy might lose its triple a debt rating that could lead to higher borrowing costs. the rise in interest rates may make it more expensive for countries like the philippines to service foreign debt.
already, the philippine government is spending a third of its budget every year just to pay interests on its nearly $42 billion in foreign debt, leaving it with less money to fund other urgent needs such as building more classrooms and roads, raising the salary of its workers (especially teachers and doctors).
*******
some economists also warned of another global financial crisis, much worse than the most recent one that stemmed from unpaid home mortgages in the united states.
a default by the united states may also lead to the weakening of the u.s. dollar and the strengthening of other currencies. that would make asian exports such as electronics more expensive.
this is bad news to countries like china, the second biggest economy, because it would have devastating effects on its economy.
while china has the financial muscle to stimulate its domestic economy by raising government investments and spending (like what it did during the recent crisis), other countries like japan and europe may not have the resources to follow its lead.
this would cut demand for philippine goods shipped abroad.
aside from cutting demand for philippine exports, a weak global economy may also mean lower remittances from filipinos working overseas.
let's hope obama's magic will work once again to persuade congress to raise the ceiling before the deadline, otherwise...
********
oh well, what did they say?
the only permanent things in this world are death and debt. or something.
******
going back to amy's tragic death, like millions of her fans, i mourned for her passing.
she was soo young, only 27.
she could have done more, write more songs that would inspire more people. having said that, her music will live forever, like those great artists who crossed the bar before her.
i was introduced to her music by my good friend s a few years ago. she played her back to black cd and i fell in love with her music right there and then. she sounded so old worldly for someone sooo young!
an old soul, this one, i thought while listening to the lyrics of you know i'm no good.
her songs are just perfect for drunken nights while nursing a broken heart or reminiscing about the happy days when love is real and we can dream of a happy ever after (as if there is such a thing).
amy, famous for her nuno sa punso hair, tattoos, high heels, short skirts, cleavage and cleopatra eye make up, has a strong, soulful jazzy voice that reminded me of billie holiday and even ella fitzgerald.
even before i finished listening to the cd, i immediately left s's apartment and went straight to hmv to hunt for her albums. i was disappointed that she only had two: frank and back to black.
while i luv all her songs, i am especially fond of you know i'm no good:
i cheated myself,
like i knew i would,
i told you i was trouble,
you know that i'm no good
i could totally relate to it.
*******
i was appalled by some comments on some articles that they saw it (her death) coming, as if she deserved to die just because. they have no idea what was going on in her life, much less in her mind.
we just don't know how some people have to struggle just to wake up in the morning and face life.
there are those among us who simply don't belong in this world, that it is too painful for them to even rise from their bed and talk to people.
not that they hate people or the world.
they are just like that.
they are so sensitive, too good for us.
********
by the way, i also luv amy's version of one of my favourites: will you still love me tomorrow?
she gave the song a haunting quality, a longing so deep it's like she was gone already.
*********
sleep deeply, dear amy.
first the killings of nearly a hundred young people in oslo, the picturesque european city seen as least likely to fall victim to such gruesome crimes.
then the great amy winehouse was found dead in her london apartment for what many believed was related to her alcohol and drug addictions.
may they (amy winehouse and the oslo victims) rest in peace.
*********
as if these were not enough, the united states of obama is facing a debt crisis as congress is running out of time to hammer out a legislation that would raise the country's debt ceiling from $14.3 trillion. the deadline is for lawmakers to pass the law raising the credit limit by august 2.
if not, the once mighty economy might lose its triple a debt rating that could lead to higher borrowing costs. the rise in interest rates may make it more expensive for countries like the philippines to service foreign debt.
already, the philippine government is spending a third of its budget every year just to pay interests on its nearly $42 billion in foreign debt, leaving it with less money to fund other urgent needs such as building more classrooms and roads, raising the salary of its workers (especially teachers and doctors).
*******
some economists also warned of another global financial crisis, much worse than the most recent one that stemmed from unpaid home mortgages in the united states.
a default by the united states may also lead to the weakening of the u.s. dollar and the strengthening of other currencies. that would make asian exports such as electronics more expensive.
this is bad news to countries like china, the second biggest economy, because it would have devastating effects on its economy.
while china has the financial muscle to stimulate its domestic economy by raising government investments and spending (like what it did during the recent crisis), other countries like japan and europe may not have the resources to follow its lead.
this would cut demand for philippine goods shipped abroad.
aside from cutting demand for philippine exports, a weak global economy may also mean lower remittances from filipinos working overseas.
let's hope obama's magic will work once again to persuade congress to raise the ceiling before the deadline, otherwise...
********
oh well, what did they say?
the only permanent things in this world are death and debt. or something.
******
going back to amy's tragic death, like millions of her fans, i mourned for her passing.
she was soo young, only 27.
she could have done more, write more songs that would inspire more people. having said that, her music will live forever, like those great artists who crossed the bar before her.
i was introduced to her music by my good friend s a few years ago. she played her back to black cd and i fell in love with her music right there and then. she sounded so old worldly for someone sooo young!
an old soul, this one, i thought while listening to the lyrics of you know i'm no good.
her songs are just perfect for drunken nights while nursing a broken heart or reminiscing about the happy days when love is real and we can dream of a happy ever after (as if there is such a thing).
amy, famous for her nuno sa punso hair, tattoos, high heels, short skirts, cleavage and cleopatra eye make up, has a strong, soulful jazzy voice that reminded me of billie holiday and even ella fitzgerald.
even before i finished listening to the cd, i immediately left s's apartment and went straight to hmv to hunt for her albums. i was disappointed that she only had two: frank and back to black.
while i luv all her songs, i am especially fond of you know i'm no good:
i cheated myself,
like i knew i would,
i told you i was trouble,
you know that i'm no good
i could totally relate to it.
of course the carrier single rehab was the most popular because of its catchy, playful lyrics that spoke volumes about her life and her struggles.
*******
i was appalled by some comments on some articles that they saw it (her death) coming, as if she deserved to die just because. they have no idea what was going on in her life, much less in her mind.
we just don't know how some people have to struggle just to wake up in the morning and face life.
there are those among us who simply don't belong in this world, that it is too painful for them to even rise from their bed and talk to people.
not that they hate people or the world.
they are just like that.
they are so sensitive, too good for us.
********
by the way, i also luv amy's version of one of my favourites: will you still love me tomorrow?
she gave the song a haunting quality, a longing so deep it's like she was gone already.
*********
sleep deeply, dear amy.
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