War Jitters

       Yesterday’s speech of Pres. George W. Bush giving Saddam Hussein 48 hours to leave Iraq or else feel the wrath of American military might was not necessarily bad news to most people.

     In fact, at CNN, stock prices were shown to be increasing even as Bush was speaking.  CNN’s screen lay-out of showing a world leader talk of war and putting on the lower right hand corner the stock prices at the New York Stock Exchange sent a strong message that the American people want this war and are ready for it.

     Thus it has the political and business ingredients necessary for success.

     The same feeling may not hold true in the Philippine Stock Exchange.  These war jitters easily jolt a small, vulnerable, and volatile Philippine market.

     Now the strength of the government’s preparation will be put to a test.  Much has been focused on our countrymen who are in the Middle East.  But the greater worry should be our economy.  The way prices, production, foreign exchange and investments behave should be our principal concern.

     Of utmost concern should be our consumers.  The jitters can be shocks if we resort to panic-buying or bank-runs.

     The jitters could have serious effects if we do not believe in our capacity to survive this international crisis.

     Not even the American military can predict with certainty when this war will end.  But we should look at our options after this war is over.  These conflicts have a way of turning into opportunities.