Same thing happened during the Asian Financial Crisis. The Philippines is one of two or three countries to avoid dollar runs in the short term but suffered dollar liquidity problems in the long term. Long term, we’re gonna suffer with stagnation after this GFC blows over while other countries post quarter after quarter growth.

The Philippines is like the kid in the playground who doesn’t catch a cold during flu season while every other kid wheezes, sneezes and coughs. Unbeknownst, the Philippine kid is suffering from asymptomatic tuberculosis.

My point being our economic setup enables us to weather these little storms while our house is creaking from deep structural faults that are plugged by short term measure like VAT and OFW dollars. We may look good in the short term, but our house is broken and would take a lot to fix than just by patch-up measures like VAT.

This is unbelievable! A constitutional crisis happening if GMA appoints an illigitimate chief justice which Noynoy vowed not to recognize when he sits as president and brilliant people calling such an event “no bearing”? No bearing? Amazing!

1. Creating jobs (massively, and I mean millions upon millions of jobs!)

2. fixing the infrastructure (new roads, bridges, new airports for areas that will receive investments)

3. reducing the deficit

and…

4. improving the educational system, focusing on improving math and science ability and emphasizing English ability so that poor kids get the same opportunities that rich kids who speak good English always get.

5. population control for the poor (let the rich multiply as much as they want, but let the poor control themselves) so that they are able to focus their minimal resources on developing the few children they have instead of dissipating their resources on a multitude of largely “unwanted children” whom they end up forcing on the streets to beg or steal.

- Dr JRII
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Spot on!!! This is brilliance indeed, simple, precise, concise, and direct to the point!!!

If Noynoy can preside over a government that will allow businesses to flourish without undue intervention (meaning government officials milking these businesses) but limit itself to proper regulation, he’s on the right track and so are we…

And yes, I also believe that he’s not recognizing an appointee of GMA will have no bearing, by all means, he must not allow this person to linger longer than necessary (out in day 1).

No rosy scenario comes to mind even with Noynoy at the helm, but at least, there is some hope for some normalcy (the same cannot be said if any of the other wannabes win)…

…then again, Noynoy must not use HOPE as the focal point of his platform, because it tends to lead to disappointment later on, focusing on the abovementioned and the detailed plan of implementation while working within the bounds of the constitution will have to be the order of the day…

Of course, a new president is not superman, or God-turned-into-man and came down to earth to magically solve our problems, we all have to pitch in…

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We can agree to disagree with respect to the VAT as a good or bad starting point. At least you are arguing on the merits without resorting to ad hominem attacks.

On your last point about the economy tanking: the Philippines along with China, India and Indonesia were the only countries in this part of the world that didn’t go into a technical recession after the GFC. It is the one area where we can say GMA gets good marks, and incidentally, this also proves that corruption and growth are not exclusive to each other.

Getting back to the main point, the country could have done so much better without these manufactured crises which were not unavoidable. Had she kept to the straight and narrow, she might have stepped down with her place in posterity intact and her agenda to ammend the constitution might have gained some traction. Unfortunately this was not meant to be. Perhaps it will serve as a lesson for all who follow not to tempt the winds of fate.

It didn’t help that GMAs political crisis exacerbated the economic crisis. But to say that GMAs political crisis put a stop to a potential good run in the economy is bullshit in my opinion. There never was a good run.

If she hadn’t been caught, history would have been very different for her. Oh well.