what analysts don't seem to consider, page-15

Greetings from Manila, CPDLC.

There are many things to love about the Philippines. But I certainly wouldn't say that the political climate is one of them. Especially in Mindanao. I am very familiar with what politicians here are capable of (with a family member being a senator and an ex being the daughter of a prominent governor), and sometimes it sure ain't pretty.

The new president has grand plans to eliminate graft and corruption. And he's apparently doing good things so far. I met an Aussie at the embassy the other day who is setting up an iron sands operation up north. He and I were both shocked that he hasn't had to pay off one government official so far. That's definitely not standard procedure.

Medusa is obviously a terrific company which would be worth much, much more if it was operating the same way in Australia.

I have no sentiment in relation to Medusa, but I have been following with interest for a little while.