The Philippines continues to be a basket case. With high taxes on personal income and a domestic economy that has become reliant on Philippine workers abroad, it is not surprising its status. The latest salvo has been made, the senator and an Army colonel have called for a military coup and take over of the government.
The sad thing is that this might be the best choice. The current President, Gloria Arroyo was caught on audio tape 3 years ago cheating in her election. She most recently got caught in a corruption scandal involving kickbacks for a nationwide government broadband deal called ZTE.
I don’t know how this will play out, but more than likely this will be another failed call for a coup. The Armed Forces of The Philippines just can never seem to get their act together.
