Start of global stock market crash, of a recession

It is more fun criticizing

When USA sneezes, the whole world trembles:  Some weaknesses in US economy:

1.  Weakening of regional bank;   one regional bank to close every week

2.  Largest share of GDP is consumer spending.  70% of total GDP, and is financed by credit cards

3.  Apocalypse of commercial real estate;   about to crash

4.  Banks sitting on large portfolio of commercial loans;

5.  Weak residential market (repeat of 2008)

6.  Large number of unemployment.   Even top tier company:    Google, Tesla, Intel.

Global stock market crash has began

Bank stocks being pummeled world wide - could be the start of global recession, sell off, crisis"?

It is more fun criticizing

Credit Suisse Bank woes

Reuters - support from Swiss National Bank to CSB

Three banks closed in USA:   Silvergate, Silicon Valley, and Signature (3S) All ready their closure sent jitters across the globe and contagion might be spreading   Excuse for sounding pessimistic but this is just being realistic.

The CSB (Credit Suisse Bank) dived 30% after its largest  stockholder said it was no longer supporting the bank   The second largest bank saw exodus of deposits of as much as $120 b fled its balance sheet.

While it had no liquidity issues yet, the Swiss Central Bank said it would come to the rescue. The bank is in this situation because of some scandals and bad decisions 

It is not unusual for banks to experience liquidity issues once there is a run (a mass withdrawal) because the fractional reserve system and of lending is not fully backed by 100% liquidty -  it is fractional, hence there will be shortage of funds

They say that when big banks in US and Europe sneeze, the rest of the world goes into convulsion   It is hoped that Asian banks, Philippines are in isolation rooms and would not be affected  ($300 billion asset size failure is not just a sneeze after all!)

Philippines now ranks 48th in global firepower; still not enough to ward off Chinese interlopers

It is more fun criticizing

The Philippines ranks 48th among 140 countries surveyed in terms of firepower.   

Global firepower

Some stats:

     1.  Manpower  -   315,000

               Active   -                 125.000

               Reserve                   130,000

               Paramilitary              60,000

    2.  Aircraft            Total    179

            Helicopters                100

            Transport                     21

            Dedicated attack          29

    3.   Naval                         103

           Frigates                       2

           Corvettes                     4

            Patrol                         55

  It has been reported that PN plans to acquire 50 naval assets to beef up its patrol capabilities

From Onenews PH - PH plans 50 ship maritime force

PHL has comparable firepower of Belarus, Chile and Peru  Take note that Vietnam and Myanmar are ahead of the Philippines in ranking.   

The Philippines has a budget of about P600 billion in its modernization program divided into three horizons.   Some of this have not been accomplished.  Some of this includes the acquisition of Black Hawk helicopters (recently finished)  Tocano close air support, missile  frigates  Antonio Luna and Jose Rizal.  

Philippine firepower acquisition supported by Pres Du30

It is hoped that PHL will acquire more naval and air assets to make it a force to be reckoned with.   No more corruption to deter the AFP modernization program.   Here we are affected by our lack of desire to modernize the Armed Forces.  Minimal armaments.