PAN DE SAL AND THE FISCAL CRISIS


Pan de sal Today Photo by POLO

Pan de sal is every Filipino's favorite breakfast. It is also the indicator of how much inflation is present at any particular time.

There's actually an inverse relationship between the size of Pan de sal and inflation. The smaller the Pan de sal is, the higher is the inflation rate.

Which brings us to why I'm amazed at President GMA's recent press release:

PRESIDENT Gloria Macapagal-Arroyo yesterday declared that the country has wriggled out of fiscal crisis barely three months after admitting that her government was in dire financial straits to coerce Filipinos in accepting painful reforms such as high taxes, higher power rates and spartan expenses.

She warned however that there was still much work to be done.

In a brief talk at the headquarters of GMA Broadcasting Corp. in Quezon City, Ms Arroyo said: "We are now getting out of that (fiscal) crisis and I told my Cabinet members, let's not talk crisis anymore. We rang the alarm bell and the people and the institutions (responded)."

[ INQ7.net]

Huh?

We are now out of the fiscal crisis?

Was I asleep when that happened that I did not notice it?

If that's true, can anyone please be merciful enough to explain why my Pan de sal is getting smaller and smaller?