Where is our economy headed?
I hate criticizing my government unless I can offer an alternative or viable solution. However, I cannot simply go deaf or blind at what is happening around me.
I came home from the US believing that the economy is vibrant and is now conducive for investments and new business, but now the daily news prove the contrary. Where is our economy headed? Oh, yeah. I remember the 2006 SONA (State of the Nation Address by the President) clearly:
Sannamagan! Where are those figures coming from? The government is sinking in debt than any other period in its existence, in fact to exaggerate, worst than the Martial Law days. Have a look at the data released by the National census recently:
How do you reconcile the figures? The transport group is clamoring for a fare increase, while the workers are clamoring for another wage hike, and then MERALCO is overbilling us? Where is our economy headed?
Although the US recession is taking its toll, it seems that it is more feasible to fight my way to make a living in the US than here. Oh, c’mon. Lay down your patriotism crap. What matters to Juan dela Cruz is filling his and his family’s bellies three times a day. Think that. Or, think what? Where is our economy headed?
I came home from the US believing that the economy is vibrant and is now conducive for investments and new business, but now the daily news prove the contrary. Where is our economy headed? Oh, yeah. I remember the 2006 SONA (State of the Nation Address by the President) clearly:
In summary, I named only a few priorities to illustrate that on many fronts, your government is working, and working well. Our economy is now growing over the longest period in the last quarter-century: 22 consecutive quarters of growth. Umakyat ng mahigit tatlumpung porsyento (30% increase in income?) ang kita ng pinakamahihirap na pamilya sa unang tatlong taon ng ating panunungkulan, at bumaba ang dami ng maralita (decrease in the number of poor families? Hello? Look around you please.) sa 25% ng mga pamilya, mula 28%, katumbas ng dalawang milyong katao na lumaya sa kahirapan (hello again? juan dela Cruz can't afford the pandesal anymore!). According to Thornton and Punongbayan, 70% of medium-sized business owners are optimistic, the fifth most optimistic (I think that what really remained –our people’s optimism huh) among 30 countries, just behind India, Ireland, South Africa and China. (note: italics mine)
Sannamagan! Where are those figures coming from? The government is sinking in debt than any other period in its existence, in fact to exaggerate, worst than the Martial Law days. Have a look at the data released by the National census recently:
The 11.4 percent acceleration in the annual adjustments in the prices of the heavily weighted food, beverages and tobacco (FBT) items raised the year-on-year headline inflation rate in the Philippines to 8.3 percent in April from 6.4 percent in March. This was the highest inflation rate since May 2005 (8.5%). All the other commodity groups recorded higher inflation rates during the month. Inflation a year ago was 2.3 percent.
How do you reconcile the figures? The transport group is clamoring for a fare increase, while the workers are clamoring for another wage hike, and then MERALCO is overbilling us? Where is our economy headed?
Although the US recession is taking its toll, it seems that it is more feasible to fight my way to make a living in the US than here. Oh, c’mon. Lay down your patriotism crap. What matters to Juan dela Cruz is filling his and his family’s bellies three times a day. Think that. Or, think what? Where is our economy headed?
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5 Comments so far:
As a student leader activist in college, I've had my fair share of shouting about radical change while marching on the streets on the way to Malacañang. I’ve also had enough of the SONAs and the lies that went with it.
Though young and too idealistic, it was a good thing I realized that there are other avenues to carry out change, before I almost left the city to join other freedom fighters up in the mountains. I know there is still hope for better governance as long as we choose the right leaders who would revolutionize the crumbling system.
But with our current situation, given the premise that there are a few rotten eggs that run our government, as ordinary citizens, all we can do is rant and pray that their conscience dictates them to do what is righteous for the country and its people.
Unless another 'People Power' becomes successful to institute change, we can always look forward to the opportunity of choosing hopefully, the best leaders who can guide our country towards its greatness, come election time.
Where is our economy headed? Only God knows.
IMO, an aggressive short and long term Economic Agenda can reverse this situation. But then again, with a government that lacks credibility and who spends its efforts (and taxpayers' money -darn!) in depending its legitimacy and covering up its ass, there goes another Juan Dela Cruz being added in the roster of street beggars or vagabonds, and the unemployed. Ahh!
We can rant all we want, but nothing will change. We are not ready for 'real democracy' -ours is but a 'pseudo.'
The first was a landmark of our young democracy and of the free world. But another one now? It is but a complete exercise in futility like the second and the third. The first will not, cannot, and should not be repeated. We became a laughing stock because of the other two. Why? Because those two events showed that we are people who are not really ready for a 'real democracy.' We cannot allow the mob and popular vote rule us, for they are not really reliable in many ways. With media outfits firing their self-serving opinions away, anyone can believe them and eventually from an opinion en masse.
What we really need are serious political leaders who can selflessly rise above their political ambitions and initiate real reforms in our government and serve the interests of the people.
Where is our economy headed?
To where it always was and always will be: in the same place.
Until we have a more open economy with true market competition, please do not expect any significant progress or gains. Our economy is currently of the boom-and-bust type. Until more foreign investments come in that will encourage greater personal consumption, there won't be enough money to support an exploding population.
Holy Moly!!! Started reading your post and was nodding my head in agreement. But I live in the US!!! I think things are bad all over right now. Hopefully all our respective countries will get their acts together and save our economies.
@ panaderos
Thanks for the insight ^^
Just another note though: We are supposed to have sitting president who 'claims' known to be an economist. Hahhh! I was happy with a thriving career in the US, and why the heck I was lured into returning home from an empty promise of a better economy. Forgive me if I gripe like this, it is simply frustrating.
You're right about your prognosis of our economy, and I couldn't agree more.
More investments? Who would? Unless our government lends credibility, especially its leadership, investors will opt to go to China or to our our ASEAN neighbors. The only entity that our government's trying to please is the IMF so that they can borrow more.
@ Flo
Yeah, I know.
My siblings who are in CA are actually complaining about the inflation rate and the jacking-up of gasoline -$3.85 to $3.95 a gallon?!? Darn, in a matter of weeks that could rise into $4+ per gallon. The same scenario here.
I hope everything will turn-out ok. Or, let us brace for the worse?
Thanks for dropping by flo ^^