Posted on 2 Comments

Marcos & Dominguez’s Priorities Define their Intentions for the Economy


By: Elena Grace Flores

YouTube video by

Dominguez rebuts Marcos on Masagana 99 feat: ‘I cleaned up the mess’

Masagana 99’s Success Differs in Sectors

Finance Secretary Carlos “Sonny” Dominguez III and Senator Imee Marcos had a brief disagreement on the “success” of Masagana 99 as they try to revive the economy. It is where the former disputes the claims of the late president Marcos’scion. This is about her father’s agricultural program.

Bankruptcy in the Banking Sector

Finance Secretary Carlos Dominguez III corrects the claims of Senator Imee Marcos. She said that Masagana 99 is an “effective use” of banks. Masagana 99 is an agricultural rice production program by the former president Ferdinand Marcos. Its goal is to finance the farmers. When they cannot pay up, it becomes a burden on rural banks. In turn, it affects the country’s overall financial health. The foreign loans are part of the debt left by the Marcos regime. However, his infrastructure projects are still useful nowadays. It also turns out that the older Marcos has set up a financial credit facility. The aim is to take care of such needs in times of crisis. This is why the Philippines can take out loans from the World Bank and the IMF in good standing during the pandemic.

Success in Exportation

“During the crop year 1975–76, the Philippines attains self-sufficiency in rice production, Senator Marcos said. The country establishes a 90-day buffer stock for food security purposes.“In 1977–1978, the country produces a surplus which enables it to export 89,000 metric tons to neighbors in Asia,” she added. The Senator clarifies that the data is from official records which Dominguez denies.

In reality, both Marcos and Dominguez clearly belong to different factions. The lady Senator focuses on the welfare of the Filipino masses. She urges the government to grant a greater stake to assist the livelihood of the poor regardless of how it would affect the country’s finances. Whereas, Dominguez’s scrutiny clearly shows that he is more into the financial standing as his duty pertains. It looks like they’re both exercising their responsibilities.

Fr. Jose Bosch Innovative Skills Training Advocacy Cooperative (ISTAC)

Posted on Leave a comment

Bongbong Marcos Explains How to Build the Economy Back


By: Elena Grace Flores

YouTube video by Bongbong Marcos

Bangon Balikbayan | Bongbong Marcos

Changing the Economic System

The people’s lifestyle will not go back anymore the way it was before the Coronavirus pandemic. Most big industries are gone. It will take time to rebuild them due to significant losses. The economic system must change. The government should spearhead in providing jobs for the workforce. Take the case of the construction industry. Building condominiums and other establishments come to a halt. The Build Build Build project of the Duterte administration can now hire the workers who are out of work. That could start up the economy.

Lessons Learned from the Pandemic

Many sectors are gone and if they have to start again, they need to build them up better than before. Working together as one country is the only way to do it. Each project must be good for all and not just for specific investors. Going back to the province is a good move. This would allow agriculture and fisheries to foster. However, the government must support these start-ups from the very beginning to create a better foundation.

Successful Sacrifice

Today’s needs are somewhat different than before. It is because of the digital lifestyle that we have to embrace. Those who cannot adapt to the changes would remain poor. Therefore, now is the right time to learn new skills to start doing innovative ways in various businesses.

Fr. Jose Bosch Innovative Skills Training Advocacy Cooperative (ISTAC)

Posted on 1 Comment

The Late President Ferdinand Marcos is Managing the Economy from the Grave


By: Elena Grace Flores

YouTube video by CNN Philippines

The Philippines is Strong Enough to Battle the Covid-19 Crisis

1.1 Trillion Pesos Funds Big Enough Considering the Economy

More funds are needed to help government deal with the global pandemic. Does the country have enough money? And how much will the government need to get back on its feet after the crisis?
Pinky Webb goes straight to The Source of the story: Finance Secretary Sonny Dominguez.

Senator Imee Marcos’ Disclosure on Credit Rating

Earlier, Senator Imee Marcos said that the DOF or the Department of Finance could borrow up to P440 billion without exceeding the manageable debt ceiling of 5.4%. Marcos stresses that the government currently maintains a 3.2% level. After the $100 Billion loan approval from the World Bank,Finance Secretary Carlos Dominguez III confirms that the country indeed has a good credit rating. We have yet to utilize loan facilities from the ADB, AIIB and World Bank, before resorting to commercial markets, he added. The P1.1 Trillion needed to fund the ongoing Build, Build, Build project, Covid-19 subsidies under the Bayanihan to Heal as One Act by the Senate until end of may and some recovery programs are covered.

Favorable Economy to Beat the Covid-19 Crisis

Secretary Dominguez commends the President for the very strong financial position of the Philippines to face the pandemic. He said that the Duterte administration manages to constantly increase revenues for the last 3 years. The spending are only limited to viable projects that promise returns like the Build, Build, Build. The poor people are prioritized for the goods and monetary assistance. However, the middle class who are employees and operators of SMEs can also have some benefits. Like the suspension of loan interests, 30-day rental fee grace period, and financial facility to stay afloat and revamp businesses after the lockdown. Filipinos must be so lucky to have a president like the late President Ferdinand Marcos who manages the WB gold reserves from the grave for the economy to foster and President Duterte for believing in him through his alliance with the surviving Marcos siblings.

Fr. Jose Bosch Innovative Skills Training Advocacy Cooperative (ISTAC)

The Wealth of Humanity is Slowly Emerging as Explained by Senator Imee Marcos

Posted on 1 Comment

A Marcos’ Return to the Presidency is Democracy Restored


By: Elena Grace Flores

President Rodrigo Du30 might fulfill his promise of stepping down from office if vice presidential protestant Ferdinand “Bongbong” Marcos Jr. wins his electoral protest against Vice President Leni Robredo. While trying to downplay President Rodrigo Du30’s remark that he can be a Malacanang successor, former Senator Bongbong Marcos said that he is nonetheless ready for the presidency. He will make good governance a priority of his administration. This is democracy in the making when the truly elected leader triumphs over fraudulent politicians. Marcos’ electoral protest against the presumptive VP, Leni Robredo us still ongoing.

Youtube video by Innovation Philippines

[VIDEO]: Former Senator Bongbong Marcos downplayed President Rodrigo Du30’s comment for him to succeed the president.

Presidential Announcement

Du30 wants a better-qualified person to be able to succeed him. This is according to Harry Roque, the presidential spokesperson. Quoting Roque, “If there’s a better leader or if there’s a qualified leader to take over and he has said that Senator Bongbong Marcos is one of the better-qualified leaders to succeed him, if there are developments and he will win the protest and he becomes vice president, yes, he will make true on his word.”

The economy is the Priority

The improvement of our economy is one of the objectives, as Marcos says. We must also prioritize the interests of the consumers as we improve on the economy. Marcos believes that Du30 is doing good on the economy right now. But still, the President is remarking that if Marcos would only be guaranteed as a successor, he would like to give up the presidency.

Top 3 Not Needed

Being asked about three top priorities, Marcos answers that we only need to think of the “return of good governance.”. This is despite the issues his father faced from his term that is historically known for graft and corruption. It’s been more than 30 years after the late Marcos’ removal from power. Not anyone court can pin him down on the alleged corruption cases. The only evidence that is still in use until the current time is the massive infrastructure project. These are from bridges to hospitals that the masses continue to enjoy.

Democracy Moves On

The PCGG was created by Cory Aquino with the purpose of recovering the wealth allegedly amassed by Marcos through the government. However, Bongbong explains that with the cases filed by the PCGG nothing have prospered. Furthermore, Congress is forwarding a bill that would abolish the PCGG. Bongbong is interpreting this as a hint for the country to move on from these already resolved issues and focus on the issues we are facing now.

The Masses are the Priority

Marcos is stressing that consumer interest will be at the forefront of his administration. He is citing the concern House Speaker Gloria Macapagal Arroyo has on the issues the economy is facing. Immediately, on her first week as leader of the House of Representatives, she held dialogues with the economic managers of the country. Marcos praises her on that move. Obviously, the changes in the government are now leaning towards his future takeover. The President also did not fail to warn people about this upcoming big change.

Posted on Leave a comment

Bongbong Marcos Explains Leadership Changes for the Economy and Technology Advancement


By: Elena Grace Flores

It’s the economy, stupid” is a slight variation of the phrase “The economy, stupid”, which James Carville had coined as a campaign strategist of Bill Clinton‘s successful 1992 presidential campaign against sitting president George H. W. Bush. Former President Gloria Macapagal-Arroyo’s version was telling Pnoy; It’s the economy, student. Meanwhile, Bongbong Marcos talks about the track record of now Speaker Arroyo when it comes to the infrastructure of the economy when she was President. He said that such leadership change including Senator Tito’s Sotto’s takeover as the Senate President is crucial for the progress of the country.

Youtube video by; Bongbong Marcos

[VIDEO]: It turns out Clinton was right when he said, “It’s the economy, stupid.”

The First Female Speaker of the House

The anti-Arroyo faction must be outraged but former President Gloria Macapagal-Arroyo wins the house speakership post. She is the first female ever to be Speaker of the Philippines’ House of Representatives. The courageous woman is also the only former Philippine President to become speaker. While it is the first time in over a decade that in the middle of a President’s term the Speaker is replaced, Marcos is confident with Arroyo. There is no leader who has a greater sense of the economy as the former President, he said.

A Long Planned Transfer of Power

Without hesitation, Pimentel had formally nominated Sotto as his successor. Sotto now serves as the second Senate president of the 17th Congress. The transfer of power had long been planned, Pimentel says as he resigned from the position. It is done so peacefully and willingly.

The Impact of AI on the Economy

With the development of artificial intelligence comes the elimination of some jobs. But surely with this technology, we can witness the evolution of most professional landscapes. As research predicts, 1.8 million jobs will be gone by 2020, but 2.3 million jobs would be created. While the AI technology will lead to the extinction of repetitive jobs, we can see it morph and enhance creative jobs. These things should be considered while looking at the economy, Marcos says.

The Depreciation of Peso

The peso is weakening. With weak Philippine trade numbers as well as expectations of an interest rate increase in the US, the peso remains weak against the dollar. This according to Jonathan Ravelas, Chief Market Strategist of BDO Unibank Inc. This will certainly work to the benefit of exporters and dollar earners, as well as the families of OFWs, Cid Terosa, Dean of the University of Asia and the Pacific School of Economics said. Arroyo still worries however of its future implications, Marcos says. The depreciation of the Peso Value on the flip side may spur inflation. That can negatively impact the purchasing power of the common Filipino.

Marcos-Friendly Leadership

The electoral protest of Bongbong Marcos against VP Leni Robredo may still be uncertain. But now not only the President is Marcos-friendly. The heads of the Congress and the Senate are now on the same boat.  The current line of succession to the office of the President of the Philippines is specified by the 1987 Constitution. During the Marcos era, the line of succession would be amended to include a newly created cabinet or ministerial offices. The line of presidential succession follows the order of Vice President, President of the Senate and the Speaker of the House of Representatives. In case of death, permanent disability, or inability of these officials, Congress shall, by law, provide for the manner of selection of the person who is to act as President until a President or Vice President shall have qualified.