With a little more refinement, the blueprint for a more stable global financial system will be ready for posting by this blogger. However, as he has said in his previous posts, the US and the Philippines will act jointly to introduce these changes in their respective territories. Together they will show the international community that a First World country and a Third World country can effectively join hands to introduce reforms in the global financial system that are worth emulating by the rest of the world.

Unfortunately, the Philippines is not yet ready to spearhead the implementation of these reforms; the leadership that thoroughly understands the mechanics of the change that ought to take place in the country has yet to fight it out in the May, 2010 elections. Hopefully, this particular leadership will emerge victorious in that electoral contest.

Thus, Filipinos, Americans, and the rest of the international community will have to be more patient. Posting of the blog entry will have to be postponed until that new leadership is installed.

Americans, in the meantime will do well to recall the words of Franklin Delano Roosevelt and heed the message they convey: This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.

Avoid waste, but do not be afraid to spend; if you have withdrawn your savings take them back to the bank. Remember, deposits up to $250,000 (through Dec. 31, 2009) are protected by the FDIC.