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'As a majority president, there should be no room for insecurity. I have yet to hear Marcos Jr. issue a conciliatory message toward the opposition.' Opinion SONA2022
Justice Secretary Jesus Crispin “Boying” Remulla said in a June Rappler talk thatadding that a thorough study would be made. “I know that it’s not only the Philippines watching – it’s the world watching us. We will do what has to be done.”
It would be interesting to see how Marcos Jr. judiciously executes a cost-effective pandemic response and slays corruption behind its implementation. For every exponential centavo lost to corruption, thousands of lives are at the risk of succumbing to the infection. The BA.5 Omicron subvariant of SARS-CoV-2 is now causing about two-thirds of infections in the United States, with cases now rising in almost every state.
His father launched several industrialization projects during Martial Law, the most ballyhooed of which were the Progressive Car Manufacturing Program and the 11 Major Industrial Projects . Oil-producing nations at that time were so awash with cash that they were able to lend monies they were earning from petroleum exports. Borrowings were also sourced from commercial banks, which lent at expensive and shorter repayment terms.
When the older Marcos was driven out of Malacañang with his family, the Philippines became one of the poorest non-communist countries in the booming Far East, with a neglected agricultural base, little industry, and the region’s worst debt problems. From my vantage point, I believe that when we borrow too much and too often, repayments of loans and interests weaken the objective for which these are intended: enhancing economic productivity. Amassed debts are akin to a tax on the potential harvest of a nation. Allocating a huge portion of funds to pay lenders back means taking away funds that should have gone to education, healthcare, infrastructure, and such priorities.
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