August 10, 2018
What has the leadership from imperial Mindanao wrought upon the Philippines?
Many difficulties and disappointment:
1. Rising prices (inflation) brought upon by TRAIN law;
2. Rift in and weakening of the ruling party that brought the top leadership to power
3. Emerging economic concern regarding the change in the form of government
1. Prices of some essential commodities and services shot up due to excise taxes on fuel and some consumer goods brought about unprecedented increase prices. While the makers of the TRAIN law assured every one that price increase would be minimal, it is not. When cost of transporting goods and people goes up, a lot of price goes up. So the BSP has to react further by raising interest rates to rein in inflation causing financing costs to go up further putting pressure to raise price of goods. After previous managers of past administration have tried to put the sound economic environment in place for growth, the same was put into
shambles.
2. Lately there has been a squabble in the leadership of legislative body; the head of Congress (who is from Mindanao was replaced by somebody from Luzon, a former President charged with numerous counts of plunder. (the freedom of whom was made possible by the support of the latter in the formers race to the top) The grip of the top guy on the govt may be weakening
While the change in the power of legislature has been alleged to be upon the instigation of the family member, in a smart move, probably to strengthen hold on power, a new party was made which drew a lot of applicants. Of late, there is perceived rift, and factions emerging in the ruling party that brought the current head of state to power
3. And lately no less than the most senior of the economic manager (from Mindanao even) has expressed concern about the fiscal provision of the proposed charter change (federalism) that it would cause huge
budget deficit and which will downgrade the Philippines credit rating thus again increasing cost of borrowing money from world capital market. The economic managers were reported to shut up but that does not hide the big problem later on.From PDI - Economic managers cite risk of charter change proposal
From Rappler - Criticism by PhD Candidate in Economics vs Bayanihan Federalism and Rise Up
The drafters of charter change are now rebuking the DOF finance for speaking now vs the draft in Senate hearing... because allegedly, the latter was consulted on the draft before submitting the same to the President. Does it matter that as an after thought, the hard realities were recongized
Many of the populace are victims suckers to political experiments that were purported to bring more benefits to the people and lessen poverty as promised. But are these political changes really good for all? One wonders if indeed they are. If within the cabinet, there are very serious doubts, what will be consequence to the nation 5 or 10 years hence. A typical case of fire and then aim. Only leadership from Mindanao can do that....
