typical example: war in iraq. bonus given to soldiers who enlisted, “college” funds were earmarked for soldiers after their tour of duties; more humbees, body bags, helmets, bullet proof vests, ammunitions productions and productions of more war materials.

these funds fueled to some extent the economy of the U.S. and the funds circulate mostly inside the US contrary to claim of the democrats that the money were spent mostly in Iraq. The crisis in Iraq makes the war industry in the U.S. profitable again.

Mr. Marcos’ theme against Sergio Osmena during the presidential campaign before he declared martial was that while he was a guerilla Mr. Osmena was in steel industry that manufactures ammunitions for the Japanese. The Japanese occupation provided the steel industry some business.

the melamine food scare created a crisis in food that momentarily created opportunities for home grown industry of goat, cow and carabao raisers in the rural areas.

the crisis in the government that profelled an almost daily or weekly demonstration in Metro Manila created an opportunity for manufacturers to produce more canvass for placards or paper mache for effigies, more gross sells from street vendors peddling food, water and softdrinks, or more street cleaners to clean up the mess on the streets and therefore created jobs for the poor.

the crisis in the government created opportunities for media consultants that are paid generous sums to repackage the image of our politicians.

indeed a crisis provides plenty of opportunities. :)

it’s better to go the entrepreneurial route. financial crises always bring opportunities, especially for innovators. you can think of ways on how to sell innovation, either in services or products.

Spot on Patricio. There is always opportunity in crises. Unlike some people who see crises as showstoppers that only the Government can get them out of (yet another case study of loser mentalities).

for example, if you have a water refilling station, why not innovate and sell beverages. or flavored water. that would be fun and profitable.

If we shut our ports to cheap Chinese celphone trinkets (among other useless things we import) — our consumption-driven economy will slow down.

This will have a triple effect:

:D Pinoys start feeling the pinch and spend less.

:D Whatever remaining Pinoys who have cash to spend will have lesser stuff to spend on.

:D A bigger chunk of household incomes (specially incomes sustained by OFW dollars — remitted by whatever is left of the overseas labour force) will remain parked in bank accounts.

If you open up a society of chronically commercially unproductive millions to a competitive market, that’s asking for trouble. And we are feeling it now and even before this whole crisis.

:) Self-sufficiency — being able to produce domestically what is consumed locally in order to;

:) Reduce unhealthy and un-secure dependency on global trade and reliance on unnecessary shipping of goods.

:) Simplification of the concept of economic value tying it squarely back to production and tangible assets all sustainably created through;

:) Domestic capital creation — an ability to rely on one’s own inherent cleverness to create physical, intellectual, cultural, and (ultimately) financial capital indigenously.