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Ever since I could remember, my parents have always told me that Ferdinand Marcos caused the downfall of the Filipino economy. I have always believed them. However, lately, my children have been getting conflicting reports on just who is to blame for this fall. This is why I decided to do a little research on this.

So, which president actually made us the “Sick Man of Asia”? I decided to take a look at one prominent analytic indicator… the Philippine peso - US dollar exchange rate. I particularly looked for the rise and fall of the Philippine peso from 1965 (the Year Ferdinand Marcos took office) to 2012. Luckily, I found a site (www.fxtop.com) that actually calculated for historical Foreign Exchange data.

Here’s what I’ve found:

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Click on the Picture to Enlarge | Source: www.fxtop.com
This chart seems to indicate that my parents were right. If you view the chart, you'll notice that between 1970 and 1972, long before Ferdinand Marcos declared Martial Law; the Philippine peso plummeted by a staggering 40%. So, was this the start of our downfall? It would seem so. However, I’ll let you be the judge of that.

Yet, a question still lingers in my mind. If Ferdinand Marcos did cause our downfall, why haven’t any of the other five presidents after him done anything to bring our economy up? In fact, they’ve brought it down even further.  Well, Benigno “P-Noy” Aquino Jr. still has a chance to make it right.

Yes, we’ve had a windfall in terms of foreign investments since early 2012; yet, somehow, it just doesn’t seem to be enough. P-Noy can’t afford to rest on his laurels right now. He’s got a great big mountain to climb.

UPDATE:

Guys, here's an updated chart (as of June 3, 2013) containing the following data:
  • Blue Line: PHP-USD Exchange Rate (USD to 1-PHP / 1000)
  • Green Line: Gross Domestic Product - GDP (in billions USD)
  • Red Line: Debt to GDP Ratio (percentage % of Debt / GDP)
SOURCES:
  • Data Source for GDP: The World Bank via www.tradingeconomics.com
  • Data Source for Debt-GDP Ratio: The World Bank via www.tradingeconomics.com
  • Data Source for PHP-USD Exchange Rate History: www.fxtop.com

Looking at this new chart still seems to point at Ferdinand Marcos causing the country's downfall. During his term in office we hit our highest Debt-GDP Ratio of more than 90% (which is extremely bad) and our currency exchange rate plummeted by nearly 80% (really bad) during his term. Our GDP did improve during his term; but it was too little an improvement to cover for our massive debts and a falling peso. 

On the other hand, I think I owe GMA an apology. I openly accused her of bringing our economy down; but, after looking at the World Bank data, I may have been wrong. 

During GMA's term, our GDP rose to around 170 Billion USD from a mere 71 Billion USD when she took over. She also managed to bring down our Debt-GDP Ratio to 44% from a high 63% when she first held office. She even managed to improve our exchange rate a little bit. It might be a stretch, but I believe that the economic windfall we are enjoying today may have started during GMA's time. P-Noy may be riding a wave created by GMA.

I suppose many are still wondering why haven't felt this economic boon. I have two suspects for you... population and corruption. I'm already looking for data on these two indicators and will post it here soon.

Well readers... What do you think of this new twist?


 


Comments

Hans
06/01/2013 10:42pm

Very nice graph and research. It shows you a good history. Very easy to understand what happen to Philippine.

Reply
06/01/2013 11:15pm

Hi Hans! Thanks for your comment. It was actually easy to get this data. All I had to do was input the beginning and end years on FxTop and (viola) instant table. :)

Reply
leo
02/28/2014 12:05am

Hindi rin kumpleto yung paganalisa using those graph,,,,, hindi isinama yung ibang factor that could also lead to the down fall of our economy especially during Marcos regime,,,,nakalimutan yung Korean war, Vietnam War at cold war dahil sa panahong ito sumipa ang value ng dollar,,,,after that US control the monetary exchange in Oil dahil dollar ang pwedeng gamitin lang sa pambili ng Oil at lalong nag shoot-up yung value ng dollar!

palengkero
02/28/2014 2:59pm

have you also considered external factors such as the 1973 Oil embargo, the communist and muslim insurgency?

Jason Domingo
03/02/2014 11:17pm

Hi! About your plan to get some data regarding corruption and population of the Philippines? I think you'll have a hard time finding legit national/regional/local level of data about corruption, coz you see in our thesis in college, "rule of law" indicator just started around 2010 if i remember correctly. But I do hope you find other better indicators for the effing CORRUPTION in our country that is slowly but massively destroying our beloved Philippines

mary ann dioneda
03/03/2014 1:47pm

boom, reading the reactions i guess you have to post many more graphs :) there are indeed a lot of factors affecting our economy... maybe you have to consider making timeline of the factors that affected our economy from Marcos to Noynoy. Its interesting to see an objective perspective of what really happened to our country... maybe include a pre marcos era too. :) and i just want to note the comment of someone from negros who experience rice shortage... My father told me about it and he said there was drought that time maybe you can check it with our weather data. and i think there was also outbreak of tungro disease in rice that time.. not exactly marcos fault it was more on lapses of our scientist who focused on high yield only and took other factors for granted when breeding rice. i'll wait for the other graphs :)

George
06/08/2013 1:39pm

Sir, thanks for your research, I just want to correct your flow chart data analysis, that the main reason or factor of Economic downfall during late former Pres.F.Marcos from the year1969 spcly from 1972-1975, our taong bayan who politically disturbed his office term. Nagkaroon ng katuwiran ang batas militar (martial law), ng pinasukan ng communism ang mga Sangay ng Lipunan noon, spcly ang mga Government spcly UP etc. at nawawalan ng security ang Assymbly ang ating buong Bansa, kaya naipasa sa pulong ng botohan sa Assembly Pres.Proclamation Decree No.1081 Martial Law, dahil Kung Hindi gagawin Ito ng ating former Pres.F.Marcos. Apektado lahat ng mga kababayan natin maging ang kinabukasan ng ating Lipunan na uuwi sa batas na ( walang mayaman at walang mahirap - pantay pantay ) which is the Evil Government ang tatayo. Kaya sa pang aabuso ng ilang mga kababayan natin sa politics at sa masa na na brainwash ng doktrina ng communism ang sanhe ng Hindi pag kakaisa ng Lipunan natin at sanhe ng pag tulak pababa ng ating economy from 1969-1975. But after those dark years nabawe ang Freedom at nagkaroon ng "Bagong Lipunan" kaya na stable at gumanda kahit paano at nahatak ang economy natin ng good estable from 1975 to 1982..according to your line chart research.

Reply
George
06/08/2013 1:45pm

Kaya mag pasalamat parin tayo sa late former Pres.Ferdinand Marcos, sa mga naganap noon....we need to respect his office term and the economy. Ang taong bayan parin ang nag kulang at nag kasala sa ating Inang Bayan na ating sariling Bansa from 1969-1975.

JLM
06/08/2013 3:26pm

Mas matindi ang Komunista ng panahon ni Quirino at Defense Secretary Ramon Magsaysay. Inayos ni Magsaysay ng pinakita niya ang gobyerno para sa tao. Ginamit lang ni Marcos na dahilan ang mga protesta ng aktibista. Lumawak ang Komunista sa ilalim ng martial law, hindi humina. At gumawa pa mga dahilan gaya ng fake ambush para mag martial law. Grabe yung mga galaw ngayon para baguhin ang kasaysayan ng kalokohan ni Marcos.

jessiedyn
06/08/2013 8:49pm

magaling tlga si macoy. kahit ano pa sabhin nyo nakikita sa mga pinatayo ni macoy lang economiya ng pinas nuon LRT LUNG CENTER at ramadam ng taaong bayan nuon at ngayon. ang mismong tatay ko sumama sa edsa para patasikin si macoy ang sabi nya nag kamali sya mas maayos pa nung panahon ni marcos...

Miss Call
06/08/2013 9:49pm

Bakit, magaling din naman si Hitler ah? Si Hitler lang nagstabilize ng ekonimiya ng Nazi Germany sa kalagitnaan ng great depression at dahil din sa kanilang pamamahala nagkaroon ng Autobahn highway system.

Sam
06/08/2013 11:48pm

I bet someone wants to leave a legacy and protect his name as if ..magaling talaga. I was just a high student when Martial was declared. in fact freshman ako, Di ko malilimutan yan, then nagkaroon ng Kabataang Makabayan under Imee Marcos leadership, Lahat Marcos eh. It's the ambition, kasi akala nila mangmang yong mga filipinos. Since they don't have enough money but they can control the country through Martial Law. Of course Marcos sabotage the ari arian ni Lopez, took over some of the businesses and let his loyalist controlled the companies, Baseco was under the control of the Romualdez, Benedicto and Marcos cronies took over electric company as well as the radio stations and newspapers. What else? Yes the media was crippled, honest reporters can't print or broadcast anything that will go against the system or else they will stay in jail and be accused of treason. WOW I can't believe that the loyalist were truly blinded by the truth. Later on pag meron na kayong conscience you can confess and be truthful. You accused the intellectuals because they are not afraid of any threats.

06/09/2013 12:03am

Before we draw quick conclusions on Marcos' and how "effective" his presidency and is, how "great" a leader he is, and the "good" he did for the economy, we should take time to read more sources. If we were to talk only of the economics (because no other Philippine president has 30,000, that's 3 followed by 4 zeroes, human rights violations so on that note he is already the worst citizen of the country, if not president), we should dissect what he did to it. Here's a good source: https://www.facebook.com/notes/alvin-campomanes/marcosian-economics-myths-and-realities/10151425500823406

cliff notes:

1. Infrastructure and constructions of institutions does not always equate to good economy and good governance. i.e. there is a dramatic increase in government spending AND foreign debt, while not proportional to the output (actual government projects finished) and not enough economic growth to support it... THIS, caused our debt to balloon from $2 billion in 1972 to $25 billion in 1983.
2. The Chain reaction - yes we were the leading rice manufacturer early on. However HYV rice, like the ones we used to use, were expensive to maintain... and as our economy begins to unravel. After the subsidies were gone, so were our rice production.
3. When martial law was first implemented we had an initial growth spurt. But did not last ("one-man rule; the suppression of dissent; the absence of accountability in government; the failure of economic development programs; the massive corruption and cronyism") Our economy begins to break down by 1980 punctuated by Ninoy's assassination we are exposed to the world as politically and economically fragile.We lost foreign investor and creditor confidence. US cut our lines of credit. The deficits of the national government mounted from 1.2% to 4.3% of the GNP between 1978 and 1982. The inflation rate increased from less than 10% in 1983 to an average of 50% in 1984.
4. The poorest 60% of the Filipinos received 22.5% of the county's income while the wealth concentrated on the top families. With top 10% receiving 42%
5. 3 our of 4 children suffered from MALNUTRITION.

And so on, and so forth. This is the macro economic level. If you want the micro economic level. Feel free to check the company histories of the private corporations that were seized by the Marcoses that contributed to the loss of foreign investor confidence.

Its okay to hero worship, but please read and research before deciding on a role model and a person to defend.

Annabelle
06/09/2013 1:56am

Mukhang diyaryo lng nung panahon ng martial law ang nababasa mo sir. Ang diyaryo po noon ay hawak ng mga marcos, benedicto, at romualdez. Pati broadcast media ay pinapatakbo nila. Kaya yan ang alam ng tao...na tayo ay nahahaluan na ng comunista...pero di totoo yan. Gumawa lang sila ng istoryang ganun para magtuloy tuloy ang kapit ni Marcos sa kapangyarihan ...kasama nya sa planong ito ay mga tao nya na nasa gobyerno pa hangang ngayon...nasa senado, congreso, at naging presidente pa nga...kung alam mo yung rolex 12...sila yun...saliksikin mo sir...marami ka pang malalaman...

Jhet
06/10/2013 1:29am

Martial Law, is a big drama of Enrile, Ramos and Marcos. to fulfill the power of the government and monopolize all bureau.

Catherine :Lopez
06/12/2013 3:25am

I am from Negros Occidental and I was able to witness how the Marcos administration manipulated the sugar industry by controlling and pocketing the profits which was capitalized by the owners kaya dumami ang mahihirap sa province namin kaya dumami ang mga npa! FM was not able to control his croonies and so was the relatives of his wife! High school na ako when he became the president and that was the first time na pumipila kami ng bigas kasi nagkaroon ng shortages! And that was also the first time na kumain kami ng kanin na may kahalong mais na suggestion niya at nag pa photo op pa siya na kumakain ng mixture na iyon. Nun ginaya namin nagtae kaming lahat sa bahay! Kaya masasabi ko na matalino si FM kaya lang hindi nagamit sa tamang paraan umiral ang pagkagahaman sa power!

Annodoel
06/12/2013 11:51am

to Miss Call
Hitler spent money of the state to get popular support, but his spending was inflationary. Within 10 years (1944), the state ran out of money, and Hitler lost his support, ...and the war.
Marcos institutionalized corruption, loans were "distributed" on the barangay level which small entrepreneurs never felt obliged to pay back (they paid back by voting for him), teachers were told to cheat in the election, and they told their students how to cheat so that Mrs.Marcos could get funds from the UNESCO, the Marcoses still go free (thanks to a corrupted judicial system that is controled by lawyers and not by the LAW) , etc... The moral fiber of the majority of the people who try to survive has been corrupted: even the best economists will not be able to turn around the results of this lack of "pride in being honest against all odds"

Wala lang
06/13/2013 5:49pm

Some claiming Marcos did a good job because he built infrastructures?? ohh total B.S.

Kung hindi maganda ang credit rating ng pinas sa panahon nya at hindi nagpapa-utang ang world bank para pundohan ang infra nya, wala siyang infra. Yang utang pa nga ang nagpapahirap sa atin ngayon.....

Jamie
06/14/2013 7:39pm

I commend Marcos for the infrastructures built during his time but those buildings and "modernizations" are not worth the lives lost during his term.

Hindi Halatang Mabait
06/15/2013 7:32pm

Sir George, considering what you claimed that the Philippine economy had become stable in 1975 to 1982, as based on the line graph, that period remained the poorest record amongst all the period that all the rest of the presidents have recorded. So, I would say, it's remarkably a failing grade for the late President Marcos!

Dote
06/24/2013 2:15am

Sir George, Alam mo bah, pag opposition ka dati ni Marcos tinawag kang Communist... Sa totoo lang mismo si marcos nag gawa nang sariling NPA, at kon sino ang military against, yon ang itapon nya sa lugar ng may NPA, pero ang may utak na nagawa mismo si marcos, to depend against loyal protection program niya. At sa ka pangalawa, yon abuse kai Enrile sa Wakwak drama lang yon para makuha ang power at tapos nag declare ng martial si marcos para lahat ng bansa ma hawakan niya ang power. Lahat ng negosyo monopolado ni marcos at ang crowni ni marcos ang naka pakitabang.... Marcos grab all the power from 1972 to 1985

batang nag-aral
08/21/2013 3:29am

sabi po ng mama ko nung panahon daw ni marcos kaya mura ang bilihin kase subsidized ng gobyerno ang mga bilihin..kaya nung nawala na ang mga marcoses sa pwesto eh nag mahal ang basic necessity, na inakala ng mga tao na "nawala lang si marcos eh nagmahalan na ang mga bilihin.." nde lang daw po sila mulat sa mga diskarte ni marcos..panay daw utang sa ibang bansa magpapatayo ng mga gusali pero mas malaki ang binulsa kesa sa ginasta sa bayan..nde ako agad naniwala sa mama ko, nagsaliksik ako para patunayan yung mga sinasabi nila ng lola ko..un totoo nga, bulag lang yung ibang pinoy lalo na mga ilokano na kababayan nya..sa sitwasyon ngayon ng pinas, mayayaman na lang ang mabubuhay dito ngayon..at kung alam lang ng mga kabataan ngayon kung gaano ka-walanghiya ang mga namuno nuon, malamang nde nila papangarapin pa na pinanganak silang Pilipino..nakakaproud pa ba na pinoy tayo?

rosita
08/22/2013 11:37am

sumasang ayon ako sa pahayag na ito <reference 1:39>. ating tignan sa mas malawak na anggulo ang lahat nung kapana hunan ng pamumuno ng late President Ferdinand Marcos. Maraming kapakinabangan ang bayan noong mga panahon na iyon. Isa ako sa nabibilang sa maralitang tagalunsod na napag kalooban ng scholarship na labis nag dulot ng malaking kapa kinabangan sa aking buhay na maging hanggang sa ngayon ay aking pinakikinabang.

Rielle
01/26/2014 8:55pm

hi po..
dto po ako ngaun sa thailand.. at nung una akong dumating napakamura ng bilihin, madami kaming umabot dun.. even ang rent sa rooms, etc, mas malaki ang palitan...
ngaun nagsisimula na pong magmahal..
ang mga negosyo nagsisimulang buamagsak samantalang nuon kahit yata ibenta mo tae bibilhin ng mga tao..
actually binibenta nila mga insects as food, at bibibili un,. kahit unbg parang uod, believ it or not.. ngaun marami ang nagsasara, dman gaya ng pinas, mejo nag-iiba na ngaun.. it's like we are going there,,,
sunud-sunod kasi protesta and these people didn't know what they are doing to their country..
madaming tourists and nagpapa-cancel ng pagpunta nila dto, at mdami akong friends na gustong pumunta dto para magliwaliw, at sinabihan ko not to come until everything is over..
now the government of thailand has has no choice,. loving teh citizens and fearing of their safety.. (because of some deaths and fires, some bombings) they have issued "State of emergency" which means if everything else is not settled it's very close to Martial law..
there also has been curfews..

Zaldy
02/26/2014 4:28am

Kagustuhan naman ni Marcos na maibaba ang Martial Law to stay him in power. Iyon ng ginawang kabalbalan ni Enrile na ibagsak ang Martial Law.

Odin
02/26/2014 10:26am

might I add that we are not alone in this?

It's a global thing. From south america to africa to southeast asia. Communist movements are messing up everything at the time, some governments collapsed, some survived. Some fared better than us, and some are worse off. Count ourselves lucky we didn't suffer the fate of Cambodia. Additionally, there are also factors besides the social revolutions. The oil crisis of the 80's, sparked by the Iran-Iraq war comes to mind. Take note also that Marcos was a believer in a strong centralized-control economy, which while having its own merits in an earlier era, ultimately proved unsuitable to the modern world. And there's also the BNPP which accounts for a large portion of the foreign debt, and which could have turned things around (or at the very least, prevent the power crisis of the early '90s), but was scrapped for political reasons.

So to blame one man for our situation would be severely misguided. We have a lot of lessons to learn from our own recent history, and all we can do is paint a person black.

mt
02/28/2014 4:00am

know what u over analyze things...because its simple maganda ang economya kung nararamdaman ng tao kahit ilang graph at ilang martial law pa ipapasa kung di nararamdaman ng tao ang progreso useless

agnes
02/28/2014 12:20pm

romeo&juliet
02/28/2014 1:05pm

WE ALL KNOW that MARCOS is a GENIUS! Talagang demonyo lang ang mga aliping sagigilid nya like Enrile!..Lahat ng niresearch niyo about the downfall at mga paratang kay late FEM ay base sa corrupted minds ng YELLOW ARMY..Which is which ba tlaga dahil may nagreresearch in favor of the Marcoses and the other side!..pero di ako nagugulohan DAHIL..UNANG UNA..The fact that nung time na yun, naka focus lang kayo lahat sa METRO MANILA, KAYA di niyo alam kung anu nangyayari dito sa Province during the time of Marcos which is sabi ng Lolo at tatay ko, maganda an ekonomiya at masigla BEFORE, DURING and AFTER MARTIAL LAW..Metro Manila lang an OA nun lalong lalo na ang NATATAKAM sa kapangyarihan ngunit di lang makalusot sa overwhelming strategy ni FEM..ang NATIONAL ROAD from apari to davao na nagbigay connection ay di mabobuo kung di dahil kay FEM..

Raul
03/02/2014 5:57pm

You have a nice theory, yet still naive...look deeper and do not confine your analysis within the Philippine Geography...The "evil" you are referring to is not necessarily in our country!

Ana Villanueva
03/03/2014 6:09am

George...totoo na mgay communist insurgency na nag-threaten sa ating kapayapaan noon. Ang importante ay sa una, maayos sana ang mga goals ni Marcos pero tingnan mo towards the end...lahat ng corruption esp ni Imelda, ang mga cronies nila na lahat hinati-hati ang mga industriya ng Pilipinas. For example, nandito ako sa Negros occidental. Malaking pahamak sa sugar industry ang pamamalakad ng crony na si Roberto S Benedicto. Talagang piniga ang mga planters. Tuloy napiga din ang mga farmworkers. Ang presyo ng asukal ay controlado ng small group of cronies. At lahat ng profits sa kanila. Ganun ba ang magandang pamamalakad? Tapos hindi ko alam kung Marcos loyalist kayo pero may personal kami na kilala na yumaman siya ng sangkatutak dahil siya ang personal na nag-ayos ng mga reparation money ng Hapon sa Pilipinas after WWII. Ang karamihan ay pumunta kay Marcos, hindi sa gobyerno. Tingnan niyo lang ang limpak limpak na salapi at mga properties nila nung umalis sila papuntang Hawaii after People Power Revolution. OK ba yun? Perang bayan ang karaminahn noon! Ako ay di hamak na medical student at sa PGH mga pasyente naming hindi nga makabili ng suwero o dextrose...kaya please kung gusto ninyong I-analyze ang anti-communist effort ni Marcos, huwag naman ninyong I-confuse yung pagka-kurakot ng admi niya. Marami pa rin silang pera ang mga Marcos. Hindi sila nag-hihirap. Sana naman tama na sa kanila yun. Kaso lang gusto talaga nila ng POWER. That is to the detriment of the people. Maghanap na lang tayo ng iba. Huwag ang mga mangungurakot din kasi marami ding ganyan...

venlose
06/08/2013 5:08pm

this article is almost bordering from being ridiculous by simply imphasizing economic gains. you failed to consider sound political system and stability as spring board for economic gains. make a research on how Marcos have corrupted almost if not nall of our political system and stability: how can you expect economic growth when everything after Marcos needs a moral reconstruction.

Ah i have an idea: what is the aim of your article? do you aim to white-coat the ills and corruption of the Marcoses in preparation for May 2016?

Reply
Boom
06/09/2013 11:30pm

Do you know how to read, Venlose? What part of my article sugar-coats or white-washes Marcos' acts? Learn to read, okay?

Annu Camu
06/15/2013 7:43pm

Mr. Venlose, I think you have been misguided by your own opinion as you have not understood the article presented by Mr. Boom, there was no such thing at all that showed a white-coating of the ills and corruption of the Marcoses. Give it a try to re-read the article and digest it properly so you will be guided accordingly!

Eric Clarke
09/21/2013 9:18pm

No Government is perfect and no Presentant is perfect and if that is what you want you will never get it because only GOD is perfect and no one else and never will be anyone else perfect.
Plus there was Presentants before Marcus and Iv got a filapino wife that was alive before and after his reign and alot that Marcus did and got built the past presentants didn't.
Such as the longest bridge from one island to another,the first rail network for people in the Philippines.
So stop being ungratefull and be thankful for all presentants that GOD gave to rule the nation and honour them wheither you agree in what they do or not.

skd
02/27/2014 8:16pm

You have a point! ....but....you forgot to read :-D

Blunt but Honest
02/28/2014 3:03pm

Imphasis on "learn to read" ok?

Inanalisa
02/28/2014 10:38pm

I think venlose is correct as some point because there really is no point of comparison between all these presidents, hence a questionable aim of this article. For a fact, they're all corrupt, you know that Boom. What they can't control though is that Filipinos went out of the country to become OFW and bring in dollars. These dollar influx in itself help heal our poor economy. The OFW are the true heroes here.

kalumbuyan
03/03/2014 3:48pm

I have a plan to run on 2016 and i feel that Marcos is a threat so I'm going to start getting dirty ad ever.. that's what this is all about isn't it?

Vir Ab
06/09/2013 5:58pm

There was a time in early GMA term (right after Erap) when the US$/Php exchange rate went down to as low as $1/Php55. Then just before GMA turned over the reign to P'noy that rate went up to $1/Php41. That was a substantial gain and savings made by GMA since we had to pay our external debt at the latest rate. Unfortunately, GMA was never recognized by Pnoy for what the latter had done for the economy and instead claimed all these successes as his own

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Riki
06/14/2013 2:17am

Exactly, they all claim that everything thats happening right now is the result of their political mantra "tuwid na daan" where in fact, they were just reaping all the fruits that was planted during GMA's time... Since most of the Filipino's hated Gloria's regime, they were using it to their advantage. Yes, their entrance to the government might have a substantial impact with the investors, but hey, a small recognition of what the previous president have done won't hurt.

Inanalisa
02/28/2014 10:33pm

Wrong, GMA just rode on the influx of dollars coming from OFW. The OFW themselves helped brought the economy back. This is why the OFW are the modern heroes. All presidents in this country are B.S.

Darrell
06/10/2013 5:10pm

have already thought and saw this back in 2000 that we will continue to suffer the effects of the Marcos regime through at least a decade or two depending on how our governance manages things AND that includes us, the citizens, who should not leave our officials alone to do the miracles we expect but contribute even in our own simple and small way what we can to improve conditions for growth. Call it generally honesty, stopping corruption, or genuine public service and not personal service. This means throwing garbage where it should be, segregating if possible, recycling, reusing, paying proper taxes, driving with discipline, do all things basic of being a good person. then, surely, think how two or five or ten or a hundred or ten thousand or even a million doing the same thing would impact on the overall course of things. I am confident and will even bet my bottom peso, our children's tomorrow would be better than ours.

Reply
08/20/2013 2:53pm

I agree with you Mr.Darrell 100%.Change must come from each in everyone of us, for a better future for us,our children,their children later on and most importantly our country PHILIPPINES!!!

adhie
03/01/2014 2:13am

I agree with darrell. back to basic.change start within ourselves. and if everyone does, we all have a better future. our children will live in a way we all wanted them to be. so stop blaming others and comparing those former presidents. it all started within us. the damage has been done.we blame one, will not help our country. but to start helping our country is to help ourselves and stop blaming who's who in the government. coz good governance start in us.

alvin
08/20/2013 3:18pm

That is the longest bear candle I have ever seen

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Boom San Agustin
08/21/2013 5:49am

Yes, it is, Alvin... Sadly!

01/25/2014 3:17am

It doesnt take a genuis to know that Marcos caused the down fall of the peso. When your a dictator for that long, you have a ripple affect and the ripple affect is still going. The freedome of information act from the United States in un-classified documents clearly show this. As far as why have not other presdients fixed it. Marcos was dictator for at least 2 generations. The Philippine Government is was and still extremely courrupt. I have school administors and some pretty high levels tell me in their innocent ways that when they firt started, they had bonuses of 50,000 peso and was told to buy property. I have recorded hundreds of conversations like this. Its just amazing how courrupt the Philippines is.

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maynah
01/28/2014 2:59am

sa panahon ba ni MACOY,sangkatirba na ba ang mga OFW?Magpasalamat kayong mga sumunod na presidente sa mga OFW dahil sila ang nagdala ng dolyares sa ating bayan,tapos kukurakutin lang ng walang habag para ilagay sa bulsa n`yo.Makonsensya naman kayo ba.

day2knight
03/01/2014 3:19pm

pls correlate data on OFW deployments also as GDP does not tell the whole story. During Marcos time, a lot of foreign businesses were kicked out in favour of cronies, that caused the fund outflow and drop in jobs and employment. As a result, good people had to find ways to look for good income thus the trend of increased OFWs. Data will tell the complete story. Also if you can add population growth too. Our future is not solely in the hands of any one person. We as a country and a people rise and fall together(as long as you still want to be counted as a Filipino-data on number of people who changed their citizenship will show this). Mabuhay ang mga Filipino!!!!

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Menoy
03/23/2014 5:29pm

I suggest to post also the achievements and infrastructures of each President for us to analyze it and decide in a more convincing way.

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Jun Roy
06/02/2013 2:48am

Hi Boom. Here's my take on the question. We have to consider several things before making any logical conclusions:
1. Philippines was the 2nd strongest economy in Asia before Marcos.
2. The four Asian Tigers simply overtook the Philippines with their sound economic policies and strong leadership committed to economic growth.
3.Remember point no.1 above. Marcos didn't actually improve our economy which he inherited; he eroded it. And the full impact of his excesses started to weigh down on us in the 1990s. Foreign debt was about more than 90% of our GDP.
4.The issue is about who caused the downfall of Philippine economy. The question as to why the succeeding question didn't do anything to bring the economy relates to another issue. Secondly, we have to consider the basic principle that the energy needed for a downward spiral is not proportional to the energy one needs to climb back. When the full effect of our foreign debt which ballooned during Marcos era was felt, it was like climbing back to where we were before in 1965 with a huge rock barefooted and feeling sickly while doing it.

So, in my view, Marcos caused more damaged to our economy than all the succeeding Presidents combined.

Reply
06/02/2013 12:30pm

Nice comments, Jun. I agree that climbing up takes a lot more energy than going down; but, there were five presidents after Marcos, and we still went down.

The problem is that every president, starting with Marcos, stole money. We need a president who will start the climb up. So far, I don't see him or her in the horizon.

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joey
06/03/2013 2:06pm

The biggest problem started by P. Cory Aquino. She do nothing to address the problem in power situation (electricity is the prime mover of the economy). She shut down the Bataan, and provide no solution. that period cause us 20 years backward. She change the political system, make political system a game of personality, without any future, all political party is just for a single term, no master plan. We are living in a country without direction. With the change of President, all the work done by the previous must go, whether change name or substance, No investment will come in, because of the uncertain situation, just like the mining industry, all the investors invited by Arroyo were all hanging in the AIR. The only good thing of present, its some one is supporting the stock market,
made our market three times richer. That is the grow, nothing real.

wolverine
06/06/2013 11:42am

Marcos was in power for 21 years, the five that succeeded him a combined 27 years, so Marcos against five presidents is a misleading statement.

filler pinner
06/06/2013 3:54pm

@ wolverine, FYI - http://www.bulatlat.com/news/4-33/4-33-marcosdebt.html

Val
06/06/2013 4:02pm

@joey, you may want to do a little research before you bring up the Bataan Nuclear Power Plant. A safety inquiry in 1979 (Marcos ruled until 1986), revealed over 4,000 defects. It has never been safe to operate that plant, and the fact that it lies close to major fault lines begs the question of who Westinghouse bribed to get the contract approved.

To say that Cory caused the "biggest problem" in the Philippines just comes off as delusional when the facts clearly point out that the Marcos administration buried the Philippines in debt.

Euclid
06/07/2013 5:15pm

Marcos ruled for about twenty years while each president only a few years compared to him. Besides you have to consider the destroyed insititutions that had to be rebuilt and the instability of the process of doing this. Its not like taking over a well-oiled machine with a momentum of going up but instead a momentum going down. Perhaps another way of comparing is if PH were number two before, how are we now compared to the present number 2? If were number two and Marcos created the momentum of going up, where would be now? The difference between these two points will indicate how massive was our loss, compliments of the great Apo Marcos . . . so to speak, for those who continue to misguidedly adore him . . .

Sam
06/09/2013 11:14pm

What a way to introduce your company. You touched the heart of your countrymen.

Boom
06/10/2013 12:05am

@Sam - It wasn't exactly what I was expecting; but, I guess controversy works.

alfred
06/23/2013 6:09pm

noong panahon ni marcos tahimik lang mga tao kase kuntento sila sa simple buhay at nabubuhay sa takot. At yung kayamanan ng mga marcos ininvest sa sarili nating bansa iginisa tayo sa sarili nating mantika at sila lang nakikinabang , bago sya matanggal sa pagka presidente lahat ng kayamanan nila idiniposito sa foreign banks pano di babagsak ekonomiya ?

ProudFilipino
08/13/2013 7:39pm

For the moment, why don't you consider the performance of some leads in the provinces. The current governor of Ilocos Norte has done an exceptionally astonishing improvement throughout the province during her term. The Mayor of Davao city could also be considered here.

Dindo
11/22/2013 4:42am

Exactly! We replaced Marcos because of corruption,then,why corruption is still rampant after Marcos?

Supermario
06/05/2013 2:31pm

Very well said, Sir Boom. I agree with your findings in this study.

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Boom
06/06/2013 1:37am

How are you doing, Mario? It's nice to see your comments here on my blog. :)

EliseItden
06/09/2013 10:23am

Thanks Sir/Madam ;Im touched deeply to read all the researchs you guys made for our Nation's .I have great respect For the True blue Filipinos who fought hard for our countries economic crisis .I no longer considered a Filipino citizen as I have been Naturalized. As iam Proud to be called New Australian.Yet Kahit paano my heart Bets Mahal ko pa rin ang aking lupang sinilangan.Sadly reading to read Your Articles Sir Abbey. I appreciates more this country where l now.It reminds me looking at u just I can see Your Mum Tiya?yMameng.

Supermario
06/05/2013 2:47pm

Bongbong Marcos for president in 2016?

Pwede, on one condition: IBALIK MUNA NG MARCOS FAMILY ANG LET US SAY, 90% NA LANG NG MGA ILLEGAL WEALTH NILA NA KUNG SAAN-SAAN NAKA-STASH AROUND THE WORLD. Kasama dito yung mga gold reserves nila na sinasabing killegally acquired rin nila.

Ang nakikinabang lang ng mga ito e ang mga foreign banks and depositories nito.

Kung magagamit ang mga ito nang maayos ng bansa natin e malamang maganda ang magiging recovery ng Pilipinas.

Kung magagawa nga ito ng Marcos Family, maaaring magkakatotoo o pagkakataon nang magkatotoo ang binitiwang pangako noon ni FM na "THIS NATION WILL BE GREAT AGAIN."

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06/05/2013 6:42pm

I still believed that it was Marcos who is the cause of our misery, remember he ruled our country with iron fist for more than 20 yrs. A dictator can do it right but he did not. No more another Marcos pls.

Jin
06/05/2013 11:17pm

You can start by reading Doy Laurel's blog. Marcos actually offered to do that but Cory is of course busy with Tom Cruise.

“Please tell Mrs. Aquino to stop sending me her relatives. They are proposing and asking so many things. All I want is to die in my country…I will run over 90 percent of all my worldly possessions to our conversation to our people. I ask only 10 percent for my family.’

“Just let me die in my own country. I want to be buried beside my mother.’


http://www.doylaurel.ph/from_the_lips_of_a_dying_president.html

Milo96
06/06/2013 5:30pm

So what kept the Marcoses from returning the wealth between 1989 and now?

I can only think of one word, Greed.

I can only think of one word for Doy Laurel, Gullible.

jessiedyn
06/08/2013 8:59pm

IBALIK PARA ANO NKAWIN LANG DIN NG MGA NAKAUPO.. WALA NMN NKIKINBANG SA MGA BINBYAD NATING BUWIS KUNDI MGA GANID NA POLITICO. BUTI PA PANHON NI MARCOS ISA LANG NAGNANAKAW NGAYON LAHAT NG NAKAUPO MAGNANAKAW.

olan
06/08/2013 11:29pm

Marcos like any other past presidents surely stashed a lot of $$$ and made a lot of deals. Who wouldn't if seated in Malacanang. The thing is, who among the past presidents accomplished a lot in terms of projects for the Filipino people...who came up with various hospital projects, convention centers, film centers, arts theaters, various roads and bridge projects, even our very first nuclear plant...who among the past presidents came this close? One would asked,..what about the treasures they stashed abroad? Ever heard of Yamashita treasures? For Marcos, it was finders keepers.

sam
06/09/2013 2:19am

When the one in power corrupted the country and made himself rich and his cronies richer and made the poor suffer then ..the poor should unite and confront the one in power. The only reason why Our country is moving backward, first thing is to educate the voters. These political dynasties will continue to reign because they feel it's their political right, but once you have the masses, then only then you can get rid of these ambitious know nothing political dynasty. Create a grassroots organization funded by those with money for a political change. After all we as the people will only be successful and have the change we longed if the voice of the people will reign. Vox Populi!

mel green
06/09/2013 6:19am

"THIS NATION WILL BE GREAT AGAIN." and this is nearly to happen according to the revelation of the late VP Doy Laurel. That Pres Marcos offered big portion of his wealth to the Cory government few days before he died in the conditions that Cory will allow him to die in his native land in Ilocos Norte and of course heroes burial when he died. That portion of marcos wealth is more than enough to cover up foreign debt with more surplus that can be use to boom up economy with more infrastructures.. But because Cory refused this offer maybe of paghihiganti like what happen now with his son for GMA.

Cain Shin
06/09/2013 4:03pm

ummm.. i dont think that Bongbong Marcos have what it takes to outdo his father, or even make a difference in leading the country.. Its the same as Pnoy aiming to make people believe he is continuing the path his father and mother forged for the Filipinos.. sons are not their fathers, however great a man can be, its no guarantee that the sons, and daughters will share the same virtue.. lets just instead look for one who has integrity and transparency in his actions.. i rooted for Mr.Teodoro before thinking hes got it.. i believe that someone else with the said qualities will show up in the future..

Cain Shin
06/09/2013 4:13pm

yes a change of system is what we need.. not another president..

annodoel
06/13/2013 1:29am

To Cain Sin
Yes, we need to overhaul the system. But who can do this? The senators? During the Corona trial, they all should have revealed their Statement of Assets and Liabilities, including their foreign accounts. And so with all the congressmen.
Back to the beginning of our Republic. When the Americans justified their move to acquire the Philippines (doing exactly the same as what the Imperial power of Britain had been doing) by committing themselves to bring democracy to Asia (!) , they organized elections within a few years to prove their objective. Who were the candidates for congress to represent the people? All landowners, who looked down at the lower class, and used their vote to get power. Not much has changed since. We will watch again a fashion show when Pinoy opens Congress. It reflects how far away these representatives are from the reality.
What should they do? See to it that every Filipino can enjoy an education which he deserves (good education is the right of every Filipino, not of a few); help students to analyze, not just to parrot; see to it that God given talents which the country needs are not wasted because the educational system is still patterned after the system the Americans imported, geared after consumption. Without creative minds, the nation cannot move forward, majority will use their instincts just to survive.

annodoel
06/13/2013 1:29am

To Cain Sin
Yes, we need to overhaul the system. But who can do this? The senators? During the Corona trial, they all should have revealed their Statement of Assets and Liabilities, including their foreign accounts. And so with all the congressmen.
Back to the beginning of our Republic. When the Americans justified their move to acquire the Philippines (doing exactly the same as what the Imperial power of Britain had been doing) by committing themselves to bring democracy to Asia (!) , they organized elections within a few years to prove their objective. Who were the candidates for congress to represent the people? All landowners, who looked down at the lower class, and used their vote to get power. Not much has changed since. We will watch again a fashion show when Pinoy opens Congress. It reflects how far away these representatives are from the reality.
What should they do? See to it that every Filipino can enjoy an education which he deserves (good education is the right of every Filipino, not of a few); help students to analyze, not just to parrot; see to it that God given talents which the country needs are not wasted because the educational system is still patterned after the system the Americans imported, geared after consumption. Without creative minds, the nation cannot move forward, majority will use their instincts just to survive.

annodoel
06/13/2013 1:29am

To Cain Sin
Yes, we need to overhaul the system. But who can do this? The senators? During the Corona trial, they all should have revealed their Statement of Assets and Liabilities, including their foreign accounts. And so with all the congressmen.
Back to the beginning of our Republic. When the Americans justified their move to acquire the Philippines (doing exactly the same as what the Imperial power of Britain had been doing) by committing themselves to bring democracy to Asia (!) , they organized elections within a few years to prove their objective. Who were the candidates for congress to represent the people? All landowners, who looked down at the lower class, and used their vote to get power. Not much has changed since. We will watch again a fashion show when Pinoy opens Congress. It reflects how far away these representatives are from the reality.
What should they do? See to it that every Filipino can enjoy an education which he deserves (good education is the right of every Filipino, not of a few); help students to analyze, not just to parrot; see to it that God given talents which the country needs are not wasted because the educational system is still patterned after the system the Americans imported, geared after consumption. Without creative minds, the nation cannot move forward, majority will use their instincts just to survive.

annodoel
06/13/2013 1:31am

To Cain Sin
Yes, we need to overhaul the system. But who can do this? The senators? During the Corona trial, they all should have revealed their Statement of Assets and Liabilities, including their foreign accounts. And so with all the congressmen.
Back to the beginning of our Republic. When the Americans justified their move to acquire the Philippines (doing exactly the same as what the Imperial power of Britain had been doing) by committing themselves to bring democracy to Asia (!) , they organized elections within a few years to prove their objective. Who were the candidates for congress to represent the people? All landowners, who looked down at the lower class, and used their vote to get power. Not much has changed since. We will watch again a fashion show when Pinoy opens Congress. It reflects how far away these representatives are from the reality.
What should they do? See to it that every Filipino can enjoy an education which he deserves (good education is the right of every Filipino, not of a few); help students to analyze, not just to parrot; see to it that God given talents which the country needs are not wasted because the educational system is still patterned after the system the Americans imported, geared after consumption. Without creative minds, the nation cannot move forward, majority will use their instincts just to survive.

annodoel
06/13/2013 1:31am

To Cain Sin
Yes, we need to overhaul the system. But who can do this? The senators? During the Corona trial, they all should have revealed their Statement of Assets and Liabilities, including their foreign accounts. And so with all the congressmen.
Back to the beginning of our Republic. When the Americans justified their move to acquire the Philippines (doing exactly the same as what the Imperial power of Britain had been doing) by committing themselves to bring democracy to Asia (!) , they organized elections within a few years to prove their objective. Who were the candidates for congress to represent the people? All landowners, who looked down at the lower class, and used their vote to get power. Not much has changed since. We will watch again a fashion show when Pinoy opens Congress. It reflects how far away these representatives are from the reality.
What should they do? See to it that every Filipino can enjoy an education which he deserves (good education is the right of every Filipino, not of a few); help students to analyze, not just to parrot; see to it that God given talents which the country needs are not wasted because the educational system is still patterned after the system the Americans imported, geared after consumption. Without creative minds, the nation cannot move forward, majority will use their instincts just to survive.

Apa Feliciano
06/05/2013 6:15pm

Sorry to butt in, the first thing I remembered with this particular comment was the story of Sisyphus.

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Annabelle
06/09/2013 11:16am

Agree...the guy who tried pushing the boulder to the top but sadly would skid down as he neared the top...yes somehow our nation's sad story...

Shem Herbolingo
06/06/2013 1:50pm

I fully agree with Jun Roy's insightful assessment.

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isabel
12/24/2013 7:45pm

the person to blame is not marcos it cory aquino. Every country needs to loan from world bank to further develop its economy but since cory aquino wanted the people to hate marcos and blame him from the depth of poverty she refused to continue any of marcos project. one big example is the bataan nuclear plant. of course for any business if u dont use amd make profit on what you invest it always ends up losing money or bankruptcy. Marcos is not perfect he may have some mistakes but compare to all the presidents after him they are only full of promises. What achievements do they do? day or night u dont feel safe even going to mall shopping is not safe. Where is the so called democracy cory ninoy or noynoy is saying. all is bs

Florepes
06/06/2013 2:08pm

AGREE...

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03/02/2014 12:00pm

Philippines is the richest country in the world.. The phony CIA backed EDSA "People Power" exhibition of 1986 hand one primary purpose and that was to take the vast QAUNTITY OF GOLD from the Philippines and the FILIPINO PEOPLE for the benefit of the INTERNATIONAL MONETARY FUND (IMF) CARTEL to enslave mankind. From the article appears in the December 24, 2004 issue of Executive Intelligence Review by Mike Billinton . The US orchestrated coup which overthrew the government of Philippines' President Ferdinand Marcos in 1986 was a classic case study of what John Perkins described in his recent book, Confessions of Economic Hit Men, as the post World War II preferred method of imposing colonial control under another name. In the Philippines case George Shultz and his deputy Paul Wolfowitz performed the roles of both the economic hit men, destroying and taking full control of the Philippine economy, and the coup-master

Delia
06/07/2013 7:15am

I agree with Jun Roy. It was Marcos who caused the downfall of the Philippines. While Marcos was in power, he, his wife and cronies had enriched themselves with corruption. So, the next presidents though they may want to improve the economy (others may have made the economy worse because they're corrupt too), they have no more resources to do so. The Marcos government had made the Philippines sunk in debt. So whoever says it's not Marcos is probably a pro-Marcos or a relative of Marcos. You may listen to others but don't believe everything you hear. Keep yourself up to date by reading the newspaper. It's not a rocket science and you don't have to look at the graph to know.

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Guido M.
06/07/2013 11:37am

100@ agree.

youngblood
06/08/2013 8:34am

i agree to disagree..but i think the image on the economic status during Marcos was "drawing" i think it was made to reflect like that from what we see from the research that marcos caused the downfall of the philippine economy because someone was jealous to him so that he will hated by the people.. marcos time has many developments, you can search it where those LRT, san juanico bridge and other infrastructure was built... just my 2 cents insight

sam
06/09/2013 2:25am

Amen!

Jamie
06/14/2013 7:54pm

@youngblood. true we have the LRT, San Juanico Bridge and a long list of buildings built during the Marcos regime. But are we not paying for those infrastructures up to this day?

ProudFilipino
08/13/2013 7:42pm

@jamie would you be paying anything of these if none of these is put into plan? Besides we are the one who is benefited by these infrastractures.

03/02/2014 12:10pm

You only know half-story: Who really destroyed the Philippines and take full control of the Philippine economy and coup-master, deposing the Philippine President in favor of an IMF puppet-while calling the operation "people power" READ the whole article at http://larouchephil.com/2004/Shultz-and -the-hit-men-destroyed-the-Philippines/

Euclid
06/07/2013 5:26pm

To those already of an enlightened age and who experienced living in the Marcos era, the destruction ( economic, social, political, psychological ) that Marcos did to the Philippines is a no-brainer. Anybody who says otherwise is either mal-educated, or uneducated, or enormously benefited from those dark years, or gullible and easily brainwashed ( for the same reasons we continue to elect remnants of the Marcos-era ).

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Sam
06/09/2013 11:18pm

Very true, the Marcoses who are in politics have no shame at all. They are of course serving the Ilocos Region. This will continue as well as the Romualdezes.

leubas
06/08/2013 10:37pm

Agree with you Bro Marcos is the main cause of the downfall of our economy, not the people as some of the loyalist stated above,,,the communist scare is only an alibi to get American support, in fact the communist multiplied during the Marcos administration due to corruption and unjust persecution of the opposition.

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01/14/2014 12:59am

http://correctphilippines.org/letter_of_doy_to_cory/

George
02/28/2014 8:13pm

Hey. You are wrong! Marcos was the best president among all presidents. Cory Aquino's era - more than 20 Billion dollars loss, FVR, Gloria -- very quick in 6 years presidency compared to Marcos' 20 years 11 Billion dollars. Senate and Congress (more people in corruptions) compared to ONE dictator - at least Marcos did many things for the Philippines. Other presidents did NOTHING!.. Be yourself, Be honest.. Realize the facts!!! ASk your elders..

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06/02/2013 3:46am

The late President Ferdinand Marcos started the downfall of our economy. The succeeding presidents after him did not do enough to correct it. The late President Corazon Aquino was more concerned with repealing everything that Pres. Marcos created. President Fidel Ramos could have done more if he had a second term, but Pres. Aquino had our constitution changed to prevent a second term for any president. President Gloria Macapagal-Arroyo was too corrupt, and our current President Benigno Aquino is too timid to try anything bold and new. We need someone like Prime Minister Lee Kuan Yew of Singapore, who was a super honest man, fearless and bold in setting policies that benefited his small state. Whenever he spoke during international forums, the heads of state of the more powerful nations in the world listened intently. He was respected and admired. We have some leaders who could be potential saviors of our economy, but they cannot get elected, for as long as we have people who vote with their own interests in mind. Educating our electorate will take more than our lifetime to accomplish. We need to change our system of government.

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06/02/2013 12:36pm

I agree 100%, Dina! Educating the electorate should be one of our top priorities. The Lee-Kuan-Yew's of this country couldn't hope to get elected if the people who get paid to work are outnumbered by those who get paid to vote.

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Manny
06/04/2013 12:56am

Unfortunately our leaders do not want an informed and educated electorate. They want the electorate to remain poor and easy preys for the lure of money during elections so they get elected.

Boom
06/04/2013 10:59pm

Sad but true, Manny.

Jbz
02/28/2014 6:29pm

Lee-Kuan-Yew idolize FEM..

Douglas Melgar
06/04/2013 8:29pm

Gloria Macapagal Arroyo too corrupt???? According to who??? ABS-CBN? Have they proven anything yet? The current economic growth is clearly a result of GMA's good economic policies. Reducing our reliance on foreign financial institutions for our credit needs was a smart move. She weaned us away from IMF, now, IMF does not have to dictate our economic policy. GMA has done more for this country than all the other post-Marcos presidents combined. We, in Davao are particularly thankful for her farm-to-market roads and the highways her administration has built. She is a hard working public servant and a thinking one at that. Because she is clever, she managed to stay in power despite coup attempts by macho military losers and thus, was able to get a lot of our macroeconomic fundamentals strengthened. This is acknowledged even by impartial observers, scholars, diplomats and journalist abroad. Get real, and stop parroting the conscript media's unsubstantiated accusations.

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Maxene
06/05/2013 12:29pm

but the mere fact that GMA had a husband in Mike Arroyo kills the argument..just like Marcos, the reason of his downfall was Imelda..there are the 2 best presidents since then..Marcos and GMA, the only downfall they have was a corrupt partner..

bp
06/05/2013 2:12pm

well according to this then our current up rise is actually a by product of gma.

Supermario
06/05/2013 3:40pm

Gloria Macapagal-Arroyo for you is not corrupt, or not too corrupt?

Well, you are entitled to your opinion just as the rest of the country, including myself, believes otherwise.

Maxene
06/05/2013 4:59pm

@Supermario: GMA is not that corrupt if you would take away his husband..she may have some corruptions on her which is still bad..but the mere fact she is working satisfies those..if you will look at the best countries, no one from them can say their leaders are not corrupt..the people just don't look at it negatively because they see their leaders' works...

Euclid
06/07/2013 5:32pm

Oh really, Mr. Douglas Melgar? Do you know what you are talking about . . . .I am from Davao and not exactly gullible like the way you sound. I wouldn't be surprised if you voted for Marcos-era politicians . .or actors in the senate . . .

Annu Camu
06/15/2013 7:51pm

Douglas, haven't you been awaken yet until now? Or you are a cronny of the Mekenis? Come on, the Arroyo's are difinitely too corrupt!

Abdullah
08/21/2013 3:12pm

Former Pres. GMA is a visionary leader but dynamic, and pragmatic when no option is on sight to translate such into reality. She felt the urgency of increasing salaries of millions of state employees on a staggered basis at 25% of basic pay hike starting every last week of June of each year beginning in 2009. These increases bolstered purchasing capacity of ordinary employees enabling them to provide basic educational needs for their school-age children without incurring much deficit as in the past, allocate extra amount for weekly marketing and grocery items purchases, clothing, shoes, medicines or for hospitalization of family members when it becomes inevitable , and for recreation and entertainment like dining outside or family outing once in a while for bonding purposes and in keeping with Filipino family traditional practice. Partly, this enhances family savings too whether intended for a real-estate property or a townhouse in mind, etc.We thank too President Noynoy for upholding the giving out to government employees of their 3rd and last tranche in salary adjustment. Combine altogether these increased purchases by dependents of government employees from where government revenues are realized not to include the improvement in revenue collection of the BIR due to increased withholding taxes paid by benefited government employees, these have surely triggered a very high multiplier effect upon the national economy. More government employees nowadays can afford to buy service vehicle which perhaps helps explain why auto dealers whether of Korean, Japanese or American make, have reported phenomenal rise in their automobile sales across the country, Not only macroeconomic fundamentals are strengthened I suppose under GMA s administration, but micro-economics policies are enunciated that benefited more Filipinos irrespective of income bracket. It is high time to refrain from saying that economic woes that persist to this day are inherited from past administration because this will not in any help us in facing and meeting strongly today s highly complex, interwoven challenges rather we adopt a policy of openness broadening base of consultation with concerned sectors.

Supermario
06/05/2013 2:37pm

June 5 - Hi, Madam Dina! Nice to see you here in facebook. I was with the Sultan Toastmasters Club in the early '90s. How are you doing now, Madam Distinguished Toastmaster?

Of course like you, I believe that what our country needs is a leader who is just like Lee Kuan Yew of Singapore

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liwliwa
07/08/2013 2:06pm

Marcos is the idol of Lee Kuan Yew

Ging Misa
06/11/2013 10:02pm

After reading a good number of comments about our leaders, the worst is yet to come. I'm sure you know that the fun began when Erap became president. Almost everyone in the entertainment world went into politics and a good percentage won. Popularity simply is the name of the game. I was just thinking that probably the parliamentary system form of government would be the best for our country because in that system top leaders of the government will be elected by or installed by the members of parliament who by a very big chance would be an intellectual. Jinggoy for President? Your call!

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Bong Umpa
11/28/2013 5:29am

i agree with you madam Dina that what we need is a iron fist leader like Lee Kuan Yu of Singapore, or mahathir Muhammed of Malaysia. But today's present craft of politicians are mostly greedy and corrupts.
what will happen to the country if the like of jojo Binay and Mar Roxas, Bong Bong Marcos or Bong Revilla become a president? our country will change its direction to hell. I only admire mayor Duterte of Davao City as nearly capable to grip the country to lead to a better Philippines and he can do a lot to go onward what Pnoy admin has been gained, it will continue eliminate all these greedy/corrupt officials from our bureaucracy....

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Steve
06/02/2013 9:26am

Good information. Do you have a comparative analysis with Debt vs GDP? I think we could correlate both. Thanks.

Reply
06/02/2013 12:41pm

Great suggestion, Steve! It should be interesting to see how those two factors affect my chart above. Although, I suspect that we will still come up with the same conclusion.

Thanks for commenting, Steve.

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happy
06/02/2013 4:33pm

We need to improve our principles, values from a long time ago before Marcos.
If all the honest people can get out of the country have the opportunity to get out of the country, they will. Int's incredible how bad influence affected all the citizens of this country. It's unbearable to feel and be around the massive corruption and stealing of the people all over the country. If a fire will be lit on all corrupt and thieves of the country it will look like a huge bonfire and only a small portion is left. I don't blame the prostitutes. They are victims of bad governance.

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06/02/2013 5:25pm

Hi Happy. Yes. If you lit a fire on all the corrupt officials of this country, you'd have a fire that could be seen all the way to China.

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anti-corrupt
06/10/2013 1:26am

pag sinunog mo lahat ng corrupt sa pinas, hangang dito sa Canada ramdam siguro.

06/05/2013 7:39am

Sad but it's true. I don't blame the prostitutes, they are victims of bad governance. What we need in this country is a true leader, like that of Lee Kuan Knew of Singapore.

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neboy mccafe
06/08/2013 10:21pm

i have to agree with this. i guess the great minds of the country have left the country. i hate to say this, but those who were left behind are the mediocre ones. consider the brain-drain which started during the marcos era. the bright ones were either chased out of the country, left the country to hide or killed/imprisoned/disappeared without traces. the bright boys of marcos were the ones who were left behind and are still working in our midst right now.

every administration after marcos either had a marcos crony or associate in their cabinets. i don't see the bright boys who left before coming back soon. they've either lost faith in the filipino, busy fence-sitting and watching what happens to this country or just plain look at our country with total disregard.

what i'm really pointing out is that we have lost our nationalism. we could put the blame on anybody or everybody else, but we failed to look at ourselves. lee kuan yew couldn't have done it all alone. he ruled mightily and his people responded with great pride and worked WITH him, not against him.

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anti-corrupt
06/10/2013 1:33am

I agree 100% we filipinos need to find a leader like Lee Kuan Yew and not the one that give us 500 spanking Peso during campaign.

langgam
06/25/2013 7:34pm

Hello! I respectfully disagree to your claim that great minds have left this country. In fact, the greatest minds are those who stay here. However, there are 2 kinds of geniuses in what we categorized as "great minds." The first kind of genius is the one who is corrupt up to the insides of their bones. Why leave the country if they live like F'ckn kings here? The evidence of their genius is not seen which is actually the evidence! Paradox. The second type of genius is the one who has transcended what us mere mortals can take and decided to stay here holding what hope is left for our country. Let's just hope (not the perceived hope of "nakatunganga", but hope, as in do, what you can and leave what you can't do to whatever/whoever higher Being you believe in) that the second kind of genius find a way to outsmart the other kind and dethrone them (of course not to replace them but, hey, maybe he was the other kind of genius from the start)..... its like a basketball game, where its the championship and real skill will emerge haha

olan
06/08/2013 11:38pm

Yes Happy I agree!

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Al Galang
06/02/2013 5:05pm

Boom, good input re: US$-Php exchange rate chart. It's only one index of an economy's performance but it doesn't wholely reflect total performance. Exchange rates are also influenced by external forces beyond a country's control. However, Dr Mahathir belied that in 1997 when he pegged the Ringgit to the US Dollar and they survived the Asian crisis.

The GDP growth rate will. surely tell a lot, amigo, as this directly show how our industries perform in terms of production and consumer spending (sales from production)...plus government spending if their collections are efficient.

And your parents are still accurate in saying Marcos caused the downfall due to grave and extensive abuse. And the succeeding presidents did not do enough to climb back up. Cory was emotional in her decisions against any Marcos mark. Ramos would have had it. Erap preferred the buffet table for a working table. Gloria, oh, you know what happened over nine (9) years. Whew!. PNoy, he's still has less than three (3) years for foundational reforms...but you cannot expect him to do miracles in short a time. Cheers!

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06/02/2013 5:28pm

That's right Al. It would be interesting to cross-reference the GDP and the exchange rate and see what happens. Although, personally, I don't think the story will change much.

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Florepes
06/06/2013 2:17pm

Boom tama ka.Mayaman ang mga Marcos...Poor philippines.Not more Fun in the Philippines ...

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Noel Carpio
06/03/2013 9:55am

It's actually simple. The reason why we didn't really recover after Marcos is because the Marcos regime created a lot of hungry people. Hungry to get as rich as Marcos. Hungry that they took the public's trust and continued to rape the economy. So instead of recuperating from the downfall, we still fell. One may say that "Hey, it's not the President who was corrupt but those around him/her.". But the people around the president was chosen by the President and so it is his responsibility.

I personally would not mind if another President will do a Yu or a Marcos so long as he will be able to transform the minds People to a better path. If that happens, the economy will follow.

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06/03/2013 2:22pm

Yes, Noel. A "Lee Kuan Yew" type of president would have been perfect for the country.

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bp
06/05/2013 2:14pm

true one problem with pinoys is that they really do need an iron fist to actually be something

Carlos
06/05/2013 2:22pm

"Lee Kuan Yew" in what sense?

I live in Singapore where I experience first hand the pros and cons of Lee Kuan Yew's rule and legacy.

One one hand, I would agree that having a president who has LKY's political will and fortitude would benefit the Philippines. A strong leader who can't be cowed by self-serving religious groups and multinational corporations and bully countries (ie Taiwan, China). But there's a catch - that person's entire gameplan must be to uplift the Philippines and its people. None of the policies can be for the profit of a few.

On the other hand, having a leader and a government who tells you what you can or can't do all the time, what you can or can't say, and who provides every single thing you need and spoonfeeds you all the time is also detrimental to the people. It spoils you. It makes you soft. It makes you shudder and complain and lash out at the slightest inconvenience you experience. It makes you less of a survivor and a fighter and more of an army ant or a worker bee. I see a lot of those here, people who crumble in the face of the slightest adversity.

Pros and cons. There will always be those. Nonetheless, I think PNoy is on the right track.

Boom
06/06/2013 1:01am

@BP - That's right. An iron fist and a heart of gold.

Kit
06/09/2013 11:12pm

@boom Iron fist with a heart of gold. hopefully with brains also and love for country.

Such a politician is a very very rare commodity

Boom
06/10/2013 7:48pm

@Kit - Yup! I forgot about the brains. Tough combination.

Eric
06/03/2013 1:36pm

The graph tells you the story on how the Philippine economy plunged to historic lows during the Marcos regime. It could be the reason why he had to declare Martial Law. But we have to give credit to FVR and GMA. Based on the graph, our exchange rate was improving during the later part of their Presidency, only to be disrupted by the Asian crisis in 1997 and Global recession in 2008. Let's pray that the reforms that PNOY has implemented more specifically on graft and corruption have a long-term effect on poverty alleviation.

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Boom
06/03/2013 3:15pm

Hi Eric! Good thing you mentioned GMA. I just finished gathering the our GDP, Debt and other data, and, to my surprise (and shock), GMA may have contributed much more to the rise of our economy today than we give her credit for.

I'll be posting a consolidated graph soon. Stay tuned. :)

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Mistah
06/04/2013 2:16pm

Research on the keynesian economics that GMA laid out during her term and resulting to the upswing in her last 2 years and continued into Noynoy's admin now. Sadly, the present gov't only knows how to throw dirt. They don't know how to give credit where it is due. What's more unfortunate is the unknowing masses just follow suit.

KoreanPhan
06/07/2013 1:33am

Thank you, Boom! We would appreciate if you'd be more detailed regarding this.

hyundaipromos
06/07/2013 11:02am

Tama si Al Galang. Also your presentation is not enough to prove any conclusion. You may also touch the regional asian economy during those periods. The govt infrastructures these Pres have put. The institutions they have created for the poors benefit or they sold these projects to private companies for private profits. And Lee Kwan Yew used the method of Marcos in developing Singapore. The only difference is Singaporeans did embraced the disclinary policies they have in placed but Filipinos started the revolt as early as 1970s backed by the elite and businessmen prompting the Pres to declare Martial Law but didnt work and that caused the collapse of our economy. Revolt to gain freedom so that everybody in govt office will have the freedom to pocket govt funds frm national to local treasuries.

Boom
06/07/2013 11:46am

@hyundaipromos and @KoreanPhan - I'm working on it. Thanks. :)

06/03/2013 7:04pm

Guys, I've already added the historical data of our GDP and Debt-GDP Ratio to the PHP-DSD Exchange Rate. The results are pretty interesting.

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Marcus
06/03/2013 10:09pm

I have always been a supporter to a limited point of Gloria. Mostly because i first arrived just before she took over from Erap and while she was in charge i could see the improvements that were done to the country.

The graph shows that she is the only president since Marcos that has a upswing on the graph. However you can see that once it was clear she could change the law to remain in power it starts to dip quite quickly again. the graph tells a story of the Philippines and reflects the culture in this country of the politicians.

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Boom
06/04/2013 10:58pm

I'm not a fan of GMA; but, you're right. The graph does show a remarkable improvement during her time.

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trini
03/01/2014 2:48pm

agree Boom!

Jun
06/06/2013 12:57pm

I think the dip in GMA's graph was not because of a political factor as what you just stated. If you carefully look at the time where the slight dip occurred, you'll easily notice that it coincides with the time when the US experienced a recession in 2009.

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Raul de Vera, Jr.
06/04/2013 5:57am

Hmmn, interesting analysis. In the end, "population and corruption" are the suspected culprits why, after all the many administrations after Marcos, the country continued to go down the drain. While population is an inevitable factor, unless you want to create another Hitler in the making, but corruption to my personal observation has gotten worser for every succession of presidency. You know what? Enough blaming game. We screwed ourselves. We let these bastards screw us to the bone. If you really want change, it start from within: our way of life, our culture, our educational system, our basic services, the works. If we could allow ourselves to disrespect our own policemen, bribing him not because your life depends on it, but simply because you're too busy to assume responsibility to a simply traffic violation, you might as well believe that the rest are doing a far worse scenario in all branches of the government.

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Boom
06/04/2013 10:50pm

So true, Raul! If the people in government won't change, it's still no excuse for us not to try. It's an uphill battle, but we have to try. It all starts with act.

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Myrna
06/10/2013 11:14am

I read this in an online article today: "From 419 scammers to corrupt politicians and businessmen, corruption has arguably become an acceptable way of life in Nigeria. Indeed, corruption is so pervasive that the economy revolves around it. In other words, if Nigeria's culture of corruption were totally eradicated today, the economy might instantly implode, causing even more unemployment and national suffering than the country currently endures. And then we have the steadily growing wealth and income gaps in Nigeria - among the worst in the world - which the culture of corruption exacerbates."

I think we (the Philippines) are in close, if not the same, echelons as Nigeria. Corruption is so embedded in the government and even parts of society that it's hard to change people's ways of working/thinking. I don't think it is simply being too busy to assume responsibility. I totally agree that it was to start from within but when there is a lack of support from the same people that are suppose to uphold & promote our way of life, culture, all those that you've mentioned, it's hard not to be disheartened and demoralized. it is akin to fighting a losing battle.

Bobby
06/04/2013 12:58pm

The Philippine economy has been growing steadily for over 3 years, the stock market has had well over 60 record setting days since President Aquino took office, and housing and building is really growing. Sounds good, di ba? Not really. The unemployment rate has not changed in over 2 years, and the level of poverty has not changed in 7 years! What good is a growing economy if the people do not share in this new prosperity? Think about it, and while you do, ask yourself where the increased capital and revenue from this new prosperity is going? If it is not in the hands of the working class, who do you think has it?

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Mistah
06/04/2013 2:15pm

Research on the keynesian economics that GMA laid out during her term and resulting to the upswing enjoyed by Noynoy's admin now. Sadly, the present gov't only knows how to throw dirt. They don't know how to give credit where it is due. What's more unfortunate is the unknowing masses just follow suit.

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Boom
06/04/2013 11:07pm

That's right, Mistah. Admittedly, I also said many things against GMA (and I still think she should pay for the Garci thing); but, after compiling the data, I'll have to admit, she did a good job.

Boom
06/04/2013 10:55pm

Hi Bobby. Thanks for commenting. However, if you look at the chart (which was taken from the World Bank's data bank), you may notice that the improvements started during GMA's time. P-Noy is simply reaping the benefits. Numbers don't lie.

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Supermario
06/05/2013 4:00pm

Well, with no less than the World Bank's data as our basis, let us give due credit for the start of our country's economic boom to GMA. I expect her to do this as she mastered Economics in the U.S. Perhaps if not for her spouse, she may have ended her tenure as our president differently. In fact, when she took over from Erap, I was thankful that we have a specialist in economics as our president, till she appeared to have specialized also in other controversial matters that may cause her eventually landing in jail. Add to this her having immediately granted pardon to Erap.

kapre
06/05/2013 8:36pm

At the very least, Pnoy continued the upswing. What if Erap won during the last presidential elections?

My take on it is this: GMA fixed our economy,.. but Pnoy fixed our MORALE.

Sam
06/09/2013 8:26am

She used to be an economic professor at Ateneo de Manila and Ninoy Aquino was one of her students

Lorre
06/04/2013 2:05pm

hey marcos is the best Philippine president. The cause the downfall of the economy was the oligharcs. Who controlled and filtered the media fed the rebels specially the communist. Ignored the national interest because of their family's business interest. Even hid the truth about killing Ninoy aquino. Every media in the Philippines is fucked up by this oligharcs. Sorry oligharcs we Filipinos has awaken and will soon destroy you all!

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Denise
06/05/2013 3:44pm

It's oligarchs. Just in case you didn't know.

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Rolando
06/15/2013 5:11am

Oligarchs , your days are numbered! How? We don't know yet. Can we remove the pork barrel? Effective party system? Cha cha? Free foreign investments? Prohibit political dynasties?

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ferdinand
03/08/2014 9:17am

ang media ngayon ay mas masahol, hawak sila lahat ng yellow army kaya walang kumikibo kahit sagad na sa kapalpakan ang kanilang tuta, at kapag kalaban naman naiimagine palang tinitira nna

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Path
06/04/2013 2:41pm

tama na ang sisihan. sa pag bangon ng bansa ang kelangan mag kaisa hindi naninira. wala na kayong magagawa sa mga nag daan na
ang importante ngayon ang kasalukuyan kung pano aasenso ang bayan.

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Boom
06/04/2013 10:56pm

Tama ka diyan, kapatid!

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Maxene
06/05/2013 2:13pm

but it is our president now who is the leader of sisihan moves..there is no difference on what we have in cory before..all she had accomplished on her regime was to criticize marcos..and now on pnoy's term he had to deal with the past which was GMA..

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andy
06/05/2013 4:55pm

history repeats itself.

Gino
06/04/2013 4:44pm

If Ferdinand Marcos is the big contributor of anything here then why i it that from all of those president after him he has all the very good projects given throughout the country Infrastructures and Agriculture and other programs..as i have read a while ago our debt was just in Billions in 20 years but Cory have it in Trillions in 6 years?

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Boom
06/04/2013 11:22pm

Gino, cool ka lang. History na yan eh. I just used data coming from World Bank and FxTop to come up with this chart. Numbers don't lie.

Also, our debt never reached the trillion mark. It reached the hundred-billion mark, but never the trillion.

Another thing, Marcos may have helped infrastructure a little, but he broke our agricultural sector. Though we have the most number of potential farm lands in Asia, we are also the weakest in agriculture. Even tiny little Sri Lanka exports more agricultural products than we do.

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Jolo
06/10/2013 6:01pm

Pre, noong di na si makoy ang presidente, magkano ang huling palitan sa dollar at peso.. sa ibang currency, like brunei dollars, parang 14 pesos a dollar lang yata, ngayon, 32 to 33, so bakit ganon?

karl
06/05/2013 5:55pm

simplelang ang sagot diyan....nangutang ng nagutang si marcos ng di naman kayang bayaran at malalaki yung interes nung lumayas sila, walang laman yung treasury. walang pambayad si cory...wala ring perang pangastos sa mga services. so umutang din si cory, ramos, erap, gma at noynoy. nagkapayong patong na yung utang ay interes

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japs
06/06/2013 11:19am

hindi niyo ba nakikita kung saan ginamit ni marcos ang mga pera nakikita sa mga kalsada, gusali na pinatyo niya at sa lahat nang mga pinagawa niyang gusali na ngayon ay pinakikinabangan ninyo? how blind Filipinos are always blaming marcos for the downfall of the Philippines. it only shows how ignorant Filipinos are and you think pnoy is in the right tract? for what? you are so blinded by the yellow ribbon and the people power that happened? nakakatawa kayo! isa itong katatawanan sa buong pilipinas at sa buong mundo it's so disheartening to read comments here tsk tsk tsk...

Florepes
06/06/2013 2:23pm

Agree.ang lugar ng mga Marcos walang brownout.Mindanao palaging brownout.

06/05/2013 8:18pm

I may believe with the graph but I don't believe Pres. F. Marcos the one who blame. Something's fishy about the data.

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Boom
06/06/2013 1:44am

You can always email World Bank to verify the data.

kit
06/06/2013 12:37am

good projects that got us in heavy debt so bad we cant afford to pay the interest.

from lee kuan yew's memoirs:

"Outrage over the Aquino assassination resulted in foreign banks stopping all loans to the Philippines which was in hock by over $25 billion and unable to pay the interest due. “He [Marcos] sent his minister for trade and industry, Bobby Ongpin, to ask me for a loan of $300-500 million to meet the interest payments. I looked him straight in the eye and said, ‘We will never see that money back.’ He added that ‘what was needed was a strong, healthy leader, not more loans.’”
Later on in Brunei, Lee Kuan Yew would say the same thing to Marcos himself. “As soon as all our aides left, I went straight to the point that no bank was going to lend him any money. They wanted to know who was going to succeed him if anything were to happen to him… Singapore banks had lent $8 billion of the $25 billion owing. The hard fact was they were not likely to get repayment for some 20 years….he admitted that succession was the nub of the problem. If he could find a successor, there would be a solution. As I left, he said, ‘You are a true friend.’ I did not understand him. It was a strange meeting.”
"

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Boom
06/06/2013 1:21am

Wow! Great input, Kit! That is truly interesting.

Tony
06/06/2013 8:50am

Gino lets understand the range of governance, Marcos was in power for 20 years, the rest was not even close to half of his term. the major developments you were talking about were in the the pipe lines before he came to power and the economic and the major industrialization trend started in his term 70's to the mid 80's. I assume you were not even so consciously involve in economics during his time. We however saw the turn over of degradation of agriculture to the infrastructure development.

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Bong
11/28/2013 5:52am

@ Gino, nag-iisip ka ba? isa ka sa pinaka bobongtao di mo yata ginagamit ang utak mo mag isip! Alam mo ba na kahit iponin ng mga naging presidente ng Pinas ( mula kina Cory Aquino, FVR, Erap, GMA & Pnoy) ang nagawa ay hindi matutumbasan ang natapos na mga projects ni Marcos bilang Presidente. Ang LRT1, PICC, Lungs Center, PGH, CCP, mga bridges and concrete roads, Bataan Nulear Plants, mga Hydro Electric Plants ng Agus-Pulangi, napakaraming State Colleges and Universities at marami pa. Pero lahat ito ay ginamit ni Marcos ng makautang sa World bank, IMF at iba pang International Financing kaya libing nalibing ang goberno ng utang noon napatalsik siya. Ang ibig sabihin ay kinapos ang 20 years niyang panununguklan ay nagiging ang ekonomya ng bansa ay sick-man of Asia ang RP imbes gawin niya maging maunlad na bansa. Bakit sa Singapore nagawa ni Lee Kuan Yew ng mapa-umunlad sa loob ng 10 years? Bakit nagawa ni Mahathir Muhammed ng Malaysia ng 16 years? Bakit hindi nagawa ni Ferdinand Marcos sa loob ng 20 years? Sino ang gago? isa ka na doon naniniwala sa mga Marcoses...

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Gino
06/04/2013 4:52pm

I think its very clear that it was Cory who messed up everything, incapacitated, inexperienced and even a floating president of her time...the BNPP could have been a very helpful thing to get back some of the loans paid and even have helped our common problem in electricity at this time, she had made nothing but let her advisers and PCGG massed everything, as I have learned in political science, her 6 years end up as worst as they have judge president Marcos..6 years but the term end up as worst as they have told the world about Marcos...if it would have been Miriam Defensor who replaced her and not Ramos, maybe it have gone better... but Cory did and Sin did not urge the people to March on the streets of EDSA since they know that Miriam has the attitude of implementing the LAWS no matter what as he have done in CID and when she became DAR secretary... we cannot just simply based it on the datas... hanapin natin saan nila ginamit ang pera ng bayan..wala silang pinatayo na BNPP, san Juanico and many more thing that we came first in Asia and until now is supporting our needs.... saan ni cory nilagay ang mga nakumpiska nila at ang trillions na nadagdag sa utang at ang iba pang ayuda mula sa ibang bansa... yun ba yong minsang soot ni Tingting cojuanco at ni Kris, na alahas, isa na ba yun? maybe dapat natin isipin nalang di ang utang, ang pinagkagamitan ng UTANG.

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kapre
06/05/2013 8:41pm

Hey, relax in blaming Cory. She didn't do as much harm as Marcos, and you forgot, she weathered several coup-d'etat, that's enough to bring your country's economy down.

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Kit
06/09/2013 11:37pm

I'll put this "dapat isipin na lang ang pinagkagamitan ng utang" in perspective.

assuming you are earning P100,000 a month. your house is dilapidated, your car wont start, you dont have a pool, a music room and other creature comforts that you can dream of. then you loaned P20,000,000 at 12% per annum. you bought a spanking new porsche, renovated your house, added the music room, a swimming pool and a lot of creature comforts you can think of. Catch here is, interest per annum alone is at P2.4M which is about P200,000 a month. (this is just a simplified computation, not a compound interest like in real life). and you are earning only P100,000 and you are still short by another hundred thousand just to pay for interest alone.

My point?

Marcos loaned and loaned to "renovate" the philippines, give us roads, infrastructures transport system and other creature comforts a country needs or wants. by the time of the ninoy aquino assasination, Marcos asked Bobby Ongpin, his minister for trade and industry get another loan of $300-$500 Million just to pay the interests of the previous loans alone.

getting back to that imaginary P20,000,000 loan a while back. hindi mo ba iisipin yung utang mo dahil napapakinabangan mo ang maganda mong bahay at astig na porsche?

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Joko
06/10/2013 6:06pm

Tama, mas lumaki utang natin noong umupo si santi ta Cory...at lalong bumulosok ang ekonomiya!

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Lisa
06/05/2013 12:55pm

I do believe that Marcos really started it all,during Cory Aquino,how can she possibly do anything to make our economy go up when the people like Honasan do nothing but organize a coup ,were just starting to recover back then and yet were known for the endless coup

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06/05/2013 1:53pm

Thanks for sharing this data, Mr. Boom. This should give pause to those who adamantly believe (and spread the falsehoods) that the Marcos regime was the high point of our country's prosperity. It definitely looks like the complete opposite; our descent started with his rule.

I was never too fond of Gloria, and felt that the liberation we worked for (I was too young to know the full weight of EDSA 1, but I participated in EDSA 2 by my own choice) was squandered when she was sworn in as our president. Your data seems to paint a better picture of her administration. I am willing to change my mind about anything for as long as the facts and reasoning are sound.

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Boom
06/06/2013 1:40am

Hi Dino! Your comment was the highlight of my day. Thanks so much! :)

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james
06/05/2013 3:01pm

shouldn't GDP be adjusted for inflation? just my two cents before you make a conclusion about it

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Boom
06/06/2013 1:43am

Working on it; but this could take a little more time. Thanks for the suggestion, James. :)

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Joey
06/05/2013 3:22pm

Can you do GDP %growth as well as GDP per capita? Just eyeballing the graph, you can guess that this is the reason why some people think that we were better off during Marcos' time.

FX is better stable than rising because we are still an export economy. So GMA was indeed an awesome economic manager.

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Boom
06/06/2013 12:18am

I'll give it a shot, Joey. It might be interesting. Thanks for the suggestion.

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06/05/2013 3:23pm

Very helpful chart! Kudos! Reading all the comments above, some things are clear to me - Marcos and the cronies plundered the country and destroyed the economy, Cory's admin is an emotional knee jerk reaction 180 degree from Marcos era as wished by the people themselves, GMA really arrested the momentum of the downward spiral, Pnoy is benefiting from it but his admin must liberalize the economy and stop protectionist policies that only benefit the traditional oligarchs who control our politics and our economy. Give these oligarchs some competition and let's see how better they can perform. Let FDI flow in. We must consider amending the constitution in view of current economic and geo-political shift in the world (China rising, US decline). Citizens must be more beligerent watching elected leaders and require them to do their job. We have social media. Self-serving public servants and poltical parties must be held accountable by the people (People of the Philippines vs ....). The Departmen of Justice must NOT be beholden to the President. And last, educating the next generation of voters about responsible suffrage and building high expectations of our nation's leaders.

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Boom
06/06/2013 12:21am

Thanks Daniel... and I agree that our protectionist policies have to go. Our elitist oligarchs have had it too good for much too long.

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Raffy
06/05/2013 3:24pm

Any economic gains achieved during GMA's time were offset by massive, indemic corruption which was pervasive in all levels of gov't from the highest to the lowest levels of the bureaucracy. The data does show economic growth but in actuality these gains were never felt or experienced by the common tao as a result of massive plunder of the gov't coffers during this time.

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Mia
06/06/2013 10:45pm

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Raffy
06/05/2013 3:41pm

Debt ratings upgrade/downgrade by world financial institutions can also be a good indicator of economic growth since it shows the capacity of a country's economy to settle its financial obligations. Maybe it will also be a good idea to compile a chart about this comparing the admins of Marcos to the present time.

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Boom
06/06/2013 12:23am

Great suggestion, Raffy! Thanks. Let me give it a shot.

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Ron
06/05/2013 3:55pm

FVR had the chance with his Phil. 2000, but, asian crisis prevented it. The next president was too corrupt.
GMA, I dunno.
hope Pnoy continues FVR's vision

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06/06/2013 6:22pm

I AGREE WITH U DAT IT WAS DURING FVR REGIME DAT WE EXPERIENCED THE WORST SOCIO-ECONOMIC CONDITION. ASIDE FROM THE 1997 CRISIS. FVR, ESPECIALLY EXEC.SEC RUBEN TORRES WAS SO IGNORANT OF THE CYBER WORLD DAT WEN MALACAÑANG ANNOUNCED THE NEW EXHANGE RATE OF PESO vs. US$, i.e., P36 = 1$ AT MIDNIGHT, IT WAS SUPPOSED TO BE KNOWN TO THE WHOLE WORLD THE FOLLOWING DAY OR AT 8AM THE FIRST WORKING OR 9PM BUSINESS HOUR. WAT A SHAME DAT CAUSE SO MUCH TRAGIC EFFECT TO US FILIPINOS.

HOWEVER, OUR PREDICAMENT WAS AGGRAVATED WEN THE SUCCEEDING GOV"T. COOPERATED BY HIDING THE TRUE ECONOMIC CONDITION OF OUR COUNTRY. DE PAINTED THE SCENARIO TO SHOW TO THE FILIPINOS & OTHER COUNTRIES DAT WE HAVE TAKEN OFF, DAT WE ARE INTO TO THE ROAD ECONOMIC PROGRESS AND DEVELOPMENT .

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filler pinner
06/05/2013 3:59pm

the systemic culture of corruption AT ALL LEVELS OF SOCIETY is what's keeping PH down. i wonder why you even mention 'population' when a larger population actually increases domestic consumption, thereby expanding the economy further. if increased consumer spending is stifled despite higher population numbers, that only means people aren't getting paid enough beyond slave wages which barely cover basic needs. and since people can't afford more critical services like education & healthcare, they have no other choice but to run to politicians for help on a daily basis, who in turn need to steal P40 to P60 out every P100 in public funds just to support those who can't sustain themselves. as one commenter earlier observed, politicians will not do anything to free people from this manner of dependence just so they can perpetuate themselves in power. marcos is the benchmark for that sort of crookedness, and GMA only tried to follow his steps. if noynoy really wants to uplift the masses, all he has to do is compel employers to pay salaries at first-world levels. this added cost to doing business will be recovered once their respective markets grow from increased discretionary consumer spending. people need to learn from nature : increase inputs to increase yield. same with economic growth

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Boom
06/06/2013 12:27am

@Filler Pinner - Population is just a suspect. We haven't submitted any data on this yet.

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filler pinner
06/06/2013 10:59am

corruption is always a problem. why is population a problem?

check this out - https://www.youtube.com/playlist?list=PL042AA53C0BE2A15F

if you can't click the link, search youtube for

OVERPOPULATION IS A MYTH

leo
06/08/2013 6:31am

3 economic growth drivers of Philippines today are related to population growth. The OFWs, BPOs and consumer spending. We are lucky we have a young average population. What we need to do is to give livelihood for the people without jobs, educate and trained them so they can add momentum the present PH economic growth by working locally or abroad or by putting up micro businesses. And for those people who didn't want to participate and just want to fed by others.....dont allow them to vote and send them to jail.

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Henry
06/05/2013 4:30pm

Hi Boom,

I just stumbled on your site when I saw it posted in Facebook. Very interesting facts. Just a question thou, what was the story behind with a sharp decline in Debt-to-GDP ratio during 1972-1979. Moreover we have a steady growth in GDP on the same time period, which is Philippines is under martial law at that times. I would really expect a decline in GDP and an increased in debt-to-gdp ratio if martial law period is really a mess.

On the other hand, I would say Marcos' moves is very risky when it comes to acquiring debts, most noticeably on his early terms.

Please bear me on this, as I have a little knowledge in terms of economics. :)

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Boom
06/06/2013 1:34am

Actually, Henry, I'm quite baffled myself. But, if I were to hazard a guess, it might be the real reason Marcos declared martial law in the first place... to try to take control of an out-of-control economic monster he had created. That's just my guess.

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Raymundo
06/05/2013 4:51pm

maybe you can use logarithmic base charts, not simply linear. fx rate moves and economic growth can be more comparably analyzed when you see its percentage gains, not linear gains.

nice article btw. keep at it!

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Boom
06/06/2013 12:28am

Thanks Raymundo. I might just do that. :)

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papa
06/05/2013 5:17pm

Whether the data or number.is accurate or not, our previous presidents do their best to lift up the country. however, how come that doing the best of addressing many issues to be solved does not boost our beloved country. I'm wandering, what is really the root of the problem?

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Fatima
06/05/2013 5:30pm

Very interesting thread. I also support your contention that it was Marcos who started it all. Whatever the Marcos apologists may say, data and history has proven that. And the worst thing that he has done is to put the country under heavy foreign debt which unluckily, the Presidents after him (except to a certain extent Pres Fidel Ramos but then it was not enough) hence banks dictated our economic policies at the expense of developing our local-grown economy particularly agriculture which could have been a strong base of our development. If agriculture and the local manufacturing industry were able to develop, we NEVER had to send OFWs to other countries because jobs would have been enough for Filipinos even in the countrysides. But because economic planners and Presidents had to toe the line of international dictates, otherwise they will not be able to get more foreign loans and aids (ODA) to keep the economy afloat so pinabayaan na talaga ang locally grown development. Kaya tayo ay nakagapos sa mga loans na walang katapusan. Ang worse, banks are writing off loans by other debtor nations, but NEVER in the Philippines. Sa tingin nyo, bakit kaya? Under GMA, what helped her put the economy in a "better" position is the billions of dollars fueled in by the OFWs. Kung noo ang nagi-stabilize ng ating economy ay foreign loans, ngayon ay ang OFW remittances. So that's why walang pagbabago sa mga Presidents kasi lahat sila ay ganon at ganon din ang policiies.

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dra.ria
06/05/2013 5:34pm

Please validate all your data before you conclude from them or interpret them. Marcos was still the best president that the Philippines ever had.

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Bluesoda
06/06/2013 12:29am

Please support your statement that Marcos was the best president that the PHL ever had! Just saying your opinion without certain points of clear evidence will just be a hearsay and nothing more!

I hate the fact that Pinoy FB users are blinded by the move of Marcos Propagandist regarding their ploy to say Marcos was the best president that the PHL ever had!!

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Boom
06/06/2013 12:32am

Hi Daria. It's not my data. It's World Bank's data... and it has been validated. If you want, you can write World Bank to validate the data they publish.

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Kit
06/06/2013 12:48am

It's all hard facts dra.ria. The charts above are all based on real data, and not just someone's opinion. Please validate your statement "Marcos was still the best president that the Philippines ever had"

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aplle
06/06/2013 12:11pm

I second the motion on that well said dra.ria

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karl
06/05/2013 5:47pm

and dont forget about all the behest loans that marcos made...we are still paying for it until now

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filler pinner
06/06/2013 3:57pm

@ karl, until 2025 pa magbabayad ang PH ng foreign debt sabi dito - http://www.bulatlat.com/news/4-33/4-33-marcosdebt.html

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Ariel
06/05/2013 5:48pm

Let's keep it simple:

Marcos enacted Martial Law (a)
In so doing, broke the Rule of Law (b)
Therefore (c), he corrupted millions no dollar can buy.

"Whether the data or number.is accurate or not, our previous presidents do their best to lift up the country. however, how come that doing the best of addressing many issues to be solved does not boost our beloved country. I'm wandering, what is really the root of the problem?"

In reply to Papa:

Language and Arts...

Filipino should have respect for the Filipino Language, (not here per se) too many Filipinos are caught up in text-ease when communicating with each other. At some point, text-ease stops being a clever and just gets downright annoying. Tagalog is such a beautiful language because it does not have masculine and feminine pronouns which arguably is the language of equality which every developed nation is clamoring for today. Why can't the Philippines be a model for modernity? (rhetorical)

Get rid of the variety shows that lack any sort of artistry or intellectual content. Promote poetry and indigenous music that inspire national identity and personal growth with the absence of personal gain to stamp out corruption.

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RMG
06/05/2013 6:21pm

a very well-put together article, I actually agree with your assessment on GMA. I too think that we are indeed riding on the longterm effects that GMA envisaged and planned extensively for the ph. She's really quite hardworking and very prolific. you can never question her work ethic. Though people say demeaning things about her intents, you can't really doubt the output of her work. Even as a legislator in the congress, the bills she authored are actually remarkable (the DUI bill, kasambahay bill. etc.) On focusing on economic gains, we can examine her infra focused admin., it seems that she's aware of the deficit the country has in terms of supporting growth. this has been a long standing bottleneck in our economy which is sadly a largely ignored catalyst for development. It was thru her many programs actually that revamped a lot of crucial deficits in infra (notably on RORO, farm to market roads, development of key expressways, nlex, sctex, tplex, etc.) infra dev't was a highlight of Marcos' term as well if i remember correctly.

Also, we can see now that most of the infra projects being continued to this day originated from the plans she established way back like the MRT7 (note that this was the plan too with DSWDs 4Ps, too bad though that many legislators arent giving it a chance considering that CCTs are longterm in nature). She even thought of enhancing government human resource addressing the huge gap between govt and private salary thru the Salary Standardization Law, which we are benefitting today. Yes, the salary increase to make gov't service more competetive came from gloria as well. I just hope that the wave were riding on now isn't one off.. that the leaders today don't slack of and try their best to maintain the much needed push were experiencing today.

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Boom
06/06/2013 1:09am

Great insights, RMG. Like I said before, I'm not a fan of GMA; however, she has earned my respect.

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Francis
06/05/2013 6:23pm

I am looking at your graphs (especially the second one). I think it is misleading. You are plotting GDP in current prices and not in real prices. Basic Economics say that GDP in current prices does not tell you anything about the growth of the economy because you are attributing the growth to two possible sources: Increasing prices and increasing output. Sometimes, even when output is decreasing, nominal GDP or GDP in current prices might still increase because prices continue to increase. A quick look at GDP growth rates or GDP in real prices during the same period would reveal the real picture of the Philippine economy.

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Boom
06/06/2013 2:03am

Francis, I'm working on it. I just didn't have time to compute for real prices. I still need to gather the inflation rate data and dollar valuation and add this to the computation for every single year. It's a lot of work; but I'm on it.

I assume, from your comment, that you know something about economics and statistics. So, by just using your logic, if we use real prices, it is likely to show that the GDP actually crashed during Marcos' time too.

Also, just looking at the Debt to GDP ratio, you can plainly see that it was at its highest only during Marcos' time. In fact, that ratio even reached more than 90%. You know what that means, right? Our country was surviving on only a very small fraction of our GDP. If you know your economics, you know that's a bad thing. No matter how high our GDP is... if you're using between 70% to 90% of it you can be sure the currency (PHP) will plummet; and that's exactly what happened.

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Milo96
06/06/2013 5:41pm

You can check imf.org. There is a table there that gives the data on real GNP constant prices (taking into account inflation).

Boom
06/06/2013 6:55pm

Thanks Milo! I'll look into that. Cheers! :)

Batang Pinoy
06/05/2013 6:44pm

Why the down fall started on Marcos 2nd term? I do not know the REAL story but a quick google and Wikipedia tells me --

"The Philippine Legislature was corrupt and impotent. Opponents of Marcos blocked the necessary legislation to implement his ambitious plans. Because of this, optimism faded early in his second term and economic growth slowed.[140] Crime and civil disobedience increased. The Communist Party of the Philippines formed the New People's Army. The Moro National Liberation Front continued to fight for an independent Muslim nation in Mindanao. An explosion during the proclamation rally of the senatorial slate of the Liberal Party on August 21, 1971 prompted Marcos to suspend the writ of habeas corpus, which he restored on January 11, 1972 after public protests."

I hope im looking at the graph correctly, but at the turn of the 2nd term of Marcos all hell break loose (economy wise). Is that correct? if that is the case, it is important WHY that thing happened. otherwise we will all just look at the result/effect without really knowing the cause. I hope this gets cleared up, was it just plain simple corruption by Marcos on his 2nd term? Was the Oligarchs involved in preventing Marcos Master Plan? was its CPP-NPA?

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LexXx
06/05/2013 7:03pm

Let us also not forget how much the US gov't and the CIA has had a strong presence in running our government via financial "aids" (loans). This is to serve their own needs, as well as the major US corporations' interests. And to quote:

"The 1974-75 US congressional investigations also uncovered CIA intervention in the domestic politics of target countries--from the overthrow of governments, attempted assassinations, to subsidies and financial support for the media, political parties, trade unions, universities and business associations--all designed "to clandestinely influence foreign governments, events, organizations or persons in support of US foreign policy." (Robinson, 1996; Richelson,1999). The CIA has gone beyond its original mission of gathering intelligence and was conducting Mafia-type operations not only in its own territory but against foreign governments and their leaders."

"Doing covert action that undermines Philippine national sovereignty and genuine democracy in order to prop up the tiny pro-US oligarchical minority that has cornered most of the wealth in their poor country is what the CIA is all about and is the real reason for its existence. It is no longer just the collection and analysis of foreign intelligence which is officially its mandate under the US National Security Act of 1947 that created the CIA.

The CIA in the Philippines has engaged in countless covert operations for intervention and dirty tricks particularly in Philippine domestic politics. On top of all this is the US diplomatic mission, especially the political section that is a favorite cover for many CIA operatives. CIA front companies also provide an additional but convenient layer of cover for operatives assigned overseas. In general, wherever you find US big business interests (like Coca-Cola, Ford, Citicorp, United Fruit, Nike, etc.), you also find a very active CIA. But the covers often used are diversified."

source: [http://www.derechos.org/nizkor/filipinas/doc/cia.html]

Further evidence of the association and covert agreements that the Marcoses pushed to be implemented via more financial loans have been discovered as far back as the year 2006 when the CIA files were de-classified:

"The official documents relating to Mrs. Marcos’s Sept., 1970 trip to Washington, D.C. are contained in a 744-page volume published four years ago by the State Department, as part of its ongoing historical “Foreign Relations of the United States” series. Tucked away in the section of the book that deals with the official U.S.-Philippine diplomatic record is a memorandum of a “conversation between the Director of Central Intelligence and Madam Imelda Marcos, Wife of the Philippines President.” The DCI was Richard Helms. The researchers had found the Helms document in the intelligence files of the National Security Council in Richard Nixon’s White House. It had been classified Secret; Eyes Only."

" The CIA memo explained Mrs. Marcos’ pitch: “She believes that the Marcos Administration could lose the election by default unless a crash program is organized to help it win. She noted that the Church has already picked candidates, either priests or lay persons, for each election district. Should those groups succeed in achieving their objectives, it would change the form of government in the Philippines to Socialism or Communism, with only a few people realizing what the real consequences would be. She underscored her view that Philippine democracy is viable but will not survive unless the United States helps the Marcos Administration through this difficult period.”

“Madam Marcos then said funding the election at the barrio level would mean 4,000 pesos for 35,000 barrios and also asked for more arms and helicopters to enable President Marcos to capture a fourth HUK leader, Commander Dante.”

source: [http://globalbalita.com/2010/06/29/imelda-marcos-the-cia-and-the-pope-a-secret-history/]

These are just evidences of how much wealth that the Marcoses accumulated during those years - whether the loans were then passed-on to be the burdens of our government, or to be stashed into their pockets. Obviously, a big bit of both.

I've also read "Confessions of an Economic Hitman" by John Perkins, where he puts into detail how the capitalist predator that are the US corporations, a.k.a. "the corporatocracies". They manipulate third world countries by offering them loans that they cannot pay, offer infrastructure projects and power plants along with these, and as the countries are unable to pay, they "collect" by exploiting the country's natural resources, controlling the prices in buying these, as well as either supporting or eliminating the government leaders. Note that this is the big picture. They do this worldwide, with some countries faring worst than our country.

What I am just trying to say is, the data that Mr. San Agustin has posted here can be supported by the above

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Lee
06/05/2013 8:52pm

Hello,

I can personally attest that there was definitely CIA involvement in the ouster of the president. If you should know, JUSMAGPHIL which is located near the embassy was one of the headquarters where the CIA conducted their operations as they were planning to remove marcos from power. I even saw some materials which directly came from DoD(department of defense) given to civilian personnel, which does not make sense as these materials were military in nature. I suspect that these civilians were intelligence agents recruited by the CIA through JUSMAG.

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Voyager
06/05/2013 9:29pm

Yup, i read the same book. I hope more Filipinos read it so that more people may know that our history is not as simple and straightforward as it looks. Foreign interests have been influencing the country since time immemorial. Read also the "Bad Samaritan". It cautions developing countries from subscribing to the "free market" utopia being preached by the developed countries.

Bottomline: Pilipino lang ang magmamahal sa Pilipinas.

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totoy
06/08/2013 5:17am

I'm impressed by your posting Lexx, the Confession of ..... when taken in a right context throws all the postings out of the window. The worst whose effect remain in the pocket of all consumer - Ramos energy policy failure, PPA.

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LexXx
06/05/2013 7:29pm

data / evidences. They corroborate, and I am sure that most people who lived during that generation can attest to the uneasy living conditions back then. The infrastructure projects (explained above) are dubious, and were surely the result of loans with the US government. Martial Law cannot be justifiable. It was never a means to an end.

You may say that's all in the past, but look at where our country is right now. We have not been able to recover from the malicious dealings that were made back then. The huge loans still burden our coffers, manifesting their weight on each of us via government's additional taxation, ballooning prices, etc. The corruption that has stemmed from that era has grown full-blown, and the only means to fight it is if we have a leadership that is incorruptible and uncompromising. Imagine, we have to desire for a leader like Lee Kwan Yew? And that's decades back already. We really went backwards. But of course, political will and a leadership like that will not succeed unless we, the people back them up. We cannot simply wish for such a change to happen overnight. We have to work hard for it in order to deserve it. And by that, it means every one of us must change, from the core. Deal out corruption by our own means, in our own hearts. Is that too hard? Yes. Will it be worth it? Hell yes. There is no other way.

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Andoy
06/05/2013 7:34pm

Hindi ba napakahabang paliwanag iyan sa napakasimpleng sagot? Nasa tanong mo na ang sagot. Who "caused". Simple, sino ba ang presidente ng magsimulang bumagsak? Ayon din sa graph mo si Marcos diba? TAPOS ang paliwanag. because everything else after Him is only collateral damage and cannot be considered as the cause. Kung may presidente kang gustong sisihin. pangalanan mo na lang at diretsahin mo. Mas nililito mo ang mga tao sa ganitong kahabang paliwanag.

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Boom
06/06/2013 12:39am

Mahaba lang talaga akong magsulat, Andoy. Pagbigyan mo na ako.

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jack
06/05/2013 7:37pm

Marcos...i beg to disagree on that one....if this people really blame it on him.....where does all those infrastructure come from??? from Marcoses pocket? To make the Philippines strong he needed the funds inorder to finance all the projects that our people are using today....like the LRT, the Culutural Arts and all the infrastructure that all the hypocrites never noticed in the 1st place....if these so called facts...is so complacent...cos they just look at the front door but never the door behind it...do they think like the NBP is just a spare change?? SHEESH! if i have a 1 peso probably i can buy the whole country...what do you think? So pls....if these so called researchers do their homework...read again...probably these noodle heads need to eat lotsa of veggies and tuna eyeballs...

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Kit
06/06/2013 12:56am

"Do not live beyond your means".

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Sam
06/09/2013 2:48am

Jack you forgot the FOREIGN AID money. Rent money in $ for the bases. Ops that's the almighty $. But, still the Philippines owed so much.

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chuck
06/05/2013 8:36pm

hi thanks for this. are you able to trend GDP per capit as well?

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Lee
06/05/2013 8:47pm

Actually President Marcos is not the one who should be fully blamed for the problem. Watch the video below and you will understand how the west manipulates third world countries into debt slavery.

http://www.youtube.com/watch?v=p7gxkgssngU

Anyway, much of the debt that marcos left to us was because of the massive borrowing he made for all the infrastructure projects in the country. If you notice most of the effects of the improvements of our infrastructure were beginning to take effect on our economy. Even up to this day the road network, bridges and other institutions he built are still being used. If it were not interrupted there would have been a solid industrial base which is a reliable source of income instead of market speculation. However, we really don't know why the creditors suddenly decided to withhold providing credit to the marcos government which eventually led to its downfall.

Also, there were indepently confirmed reports that the events that led to his ouster were influence by the americans themselves. There were numerous documents attributing to the participation of the CIA to remove marcos from power. I know someone, a filipino who had a book given to him from the DoD(department of defense). The book is entitled "Soviet Military Power." You can find the book in amazon and see that it really exists. What is funny is not the book itself, but the calling card attached in the first few pages. This calling card was that of a US DoD official.

https://www.youtube.com/watch?v=nvZQa0hkfgw

If the above may not seem convincing, remember that during marcos time the USD/PHP exchange rate was still fixed. However this was made into a floating exchange rate which made the debts that marcos had in the first place increase by a huge factor even if he would do anything in his power to service the debt.

Speaking of floating exchange rates, this was probably introduced by president nixon because of what happened in the vietnam war. Because of the massive expenses the US incurred in the vietnam war, President nixon decided to take the dollar of the gold standard. This would then enable the US to print massive amounts of US dollar bills using only the faith and credit of the 'people' as a guarantee for its value. This also essentially revoked the bretton woods agreement from which was a global financial system headed by the victors of the second world war.

And the other nations also followed suit when there currencies were pegged to the US dollar and placed on a floating exchange rate. So if our exchange rate was not changed to floating our debt would not have gotten worse so much at all.

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kapre
06/05/2013 8:52pm

For those quick to blame Cory for not doing enough, let me remind you that she has to weather 7 coup-d'etat. I'm actually glad that she didn't make it any worse than it was.

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Voyager
06/05/2013 9:45pm

Nice graph! From where I stand, while Diosdado Macapagal weakend our manufacturing sector by repealing the Filipino first policy of pres. Garcia, it is conclusive that Marcos was the one who bankrupted the country. Our Debt to GDP almost reached 100% in his time. He was the one who steadily increased it from a previously manageable 40-50%.

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jr
06/05/2013 10:07pm

after Ramos, whoever was president after that never really made any contributions to the economy. GMA was just riding on the trend of outsourcing and the rise of call centers. had Erap not been overthrown, the trend would have been the same. the real object of a mature and strong economy is where the private sector really calls the shots and the government slowly becomes what it really should be - a public civil service provider.

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jr
06/05/2013 10:09pm

not to mention the continued growth of OFW remittance. in fact, overseas remittances, counted as part of GDP, was the real growth factor. from another point-of-view, one could even conclude that extremely poor local conditions drove fully 10% or more of the local working population to go abroad, ironically resulting in an economic boom.

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filler pinner
06/06/2013 10:51am

that's actually not ironic. with 10% of our population working abroad to earn world-class wages and sending money home to support their families, the increase in domestic spending created a bigger economy in PH. the concept of economic multipliers explains this. mind you, a huge chunk of national economies worldwide is domestic consumption, oftentimes more than 50% of volume. if you follow the logic, it goes without saying that increasing discretionary spending by increasing local wages to world-class levels will expand the economy. employers who worry about increased overhead during the transition period only need to remember that people with money in their hands tend to spend it, which enlarges the markets for all sorts of products & services. any president who wants to boost economic growth only needs to increase consumer spending. that's why GMA was so insistent on developing our tourism infrastructure and lengthening holiday weekends - to get people to spend more.

06/05/2013 10:48pm

The author simply tried to correlate a country's performance data with presidency and did nothing to try to factor out any possible external factors like the 1968 financial crisis or IMF's oppressive punishments for PH's attempt to industrialize. If this were to continue to all the presidents, Laurel is the most horrible one since the economy literally stopped during his time. And a lot of people became poor, hungry, and dead. And the Japanese ran our country. (granted, it was WW2, but that's not important right?)

It's so easy to say from an non-economist outsider's perspective "Oh this president was the worst because look at the $$! Look at the charts!" but really, if 30 years later we are still generalizing and tying national performance to just ONE man then we have learned nothing. Blaming a dead person without trying to completely understand isn't revenge. It's useless banter.

We need to try and outline policies, events, and figures that caused the general macroeconomic indicators to plummet because unless we learn from those things, we are just chasing ghosts from our particularly sordid past.

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Greg
06/05/2013 11:53pm

Agree with your comment. Exchange rate and the other 2 variables are not the sole determinants of progress, specially from a development standpoint.

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Boom
06/06/2013 12:54am

Hi Red. There will always be unexpected external factors to any president's term of office. How he or she handles it determines the true mantle of his or her leadership.

I used to be the sales department head of one of our country's top corporations; and the only data management was interested in were the sales figures. It didn't matter if there were too many holidays that month or if the country had just experienced a tragic storm or if half the sales force died in a fire at O'Zone Disco. If I didn't perform, I would get reprimanded or even fired.

We can never accurately predict what external factors will happen during our term to hamper our performance as leaders. We can only prepare for the worse; and when our preparations fall short, we have to take charge and be ready to take the blame... and the repercussions that come with it.

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spider nymber 6!
06/05/2013 11:41pm

foolishness!!!! damn!!! more research!!

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Boom
06/06/2013 12:57am

Cool it Spider! I'm already on it. ;)

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spider number 6!
06/05/2013 11:43pm

dnt expect for the economic growth!!!! be contented of what u have!!!!

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Boom
06/06/2013 12:59am

That's the wrong attitude, Spider. Just saying. :P

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anita
08/20/2013 3:21pm

tama po kayo Mr.Boom maling mali ang attitude nitong si spider yan ang maga taong hindi aasenso bakit po kc wala man lang goal na umangat ang buhay sa attitude nyang yan dadating ang araw ang mga anak nya mas mahirap pa....walang mangyayari kung magiging kuntento sa WALA....

Brian
06/06/2013 1:03am

It's always nice to look at things from an Economist's point of view. Thanks for this! Can I add another culprit as to why the marginalized do not feel the trickle down of the economic boom from GMA-PNoy's administrations? A big culprit is also the misallocation of wealth brought about by our poor taxation system, coupled with the population and the corruption problems.

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filler pinner
06/06/2013 10:56am

corruption is always a problem. why is population a problem?

check this out - https://www.youtube.com/playlist?list=PL042AA53C0BE2A15F

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filler pinner
06/06/2013 10:56am

corruption is always a problem. why is population a problem?

check this out - https://www.youtube.com/playlist?list=PL042AA53C0BE2A15F

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greco cabanero
06/06/2013 1:27am

peso to dollar rate is not a reliable indicator, and it will never become $1.00:Php 2.00 ever again

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Boom
06/06/2013 2:11am

You didn't read the whole article, did you?

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TJ
06/06/2013 1:45am

I agree with Francis. "Real" not "nominal" GDP should be the graph to look at, as well as GDP growth in percent (constant prices) and GDP per capita.

Looking at real GDP figures, the 1970-71 pre-martial law era had about 4.7% growth (my quick "eyeball estimate"). The first 9 years of Martial Law ('72-'80) had about 6% GDP growth, followed by 3 years of 3.5% growth ('81-'83) before plunging to negative growth in the turbulent years of 1984-85.

The Cory years showed around 3 to 6% growth from '86 to '89 before falling down to 3% in 1990 and negative to almost no GDP growth until 1992 (Cory's turbulent years).

GDP during the Ramos years was about 4.5% ('93-'97), plunging to a negative growth in 1998. Erap's averages about 3% ('99-'01).

GMA's GDP is around 4.5 to 5%. PNoys' started high at 7.6, down 3.6, then up again at 6.8 in 2012 (so around 6% GDP growth in 3-years).

So, just looking at the average ("eyeballed") real GDP growth rates, it looks like they all performed at par with each other. GMA's inflated nominal GDP trend seems mostly due to inflation while FEM stabilized the economy 9-years following martial law before the decline in the 80's.

I'm not sure P to $ exchange rate mean much, as well as the debt to exchange rate ratio, especially when you're looking at nominal values. Both P and $ fluctuate in the international market and is also influenced by import-export policies. So, lots of external influences and variables that are not accounted by the simple ratio.

Regarding debt, one also need to look at where they were spent. If they were used for long-term capacity building like infrastructure development, education, machineries/equipment for manufacturing, etc. (vs. short-term consumption), then you'll expect a high debt to income (GDP) ratio at the start, BUT will show benefits down the line (10 to 30 or more years). So, having high debt by itself is bad. It depends on where you spent the money and the terms of servicing required (a financial management issue).

The point is, be careful when using nominal data and making generalizations without looking at other information and understanding the context of the situation. The posts here reminds me of Kepner and Tregoe's book, The Rational Manager. People tend to make and advance lots of conclusions and causations from very meager data. Instead, they propose the reverse, i.e., first get lots of data that will provide information and context to properly define the problem, before attributing cause to the correlations -- and then, that's the only time to propose (tentative) solutions.

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Boom
06/06/2013 2:10am

@TJ - Here's my reply to Francis:

Francis, I'm working on it. I just didn't have time to compute for real prices. I still need to gather the inflation rate data and dollar valuation and add this to the computation for every single year. It's a lot of work; but I'm on it.

I assume, from your comment, that you know something about economics and statistics. So, by just using your logic, if we use real prices, it is likely to show that the GDP actually crashed during Marcos' time too.

Also, just looking at the Debt to GDP ratio, you can plainly see that it was at its highest only during Marcos' time. In fact, that ratio even reached more than 90%. You know what that means, right? Our country was surviving on only a very small fraction of our GDP. If you know your economics, you know that's a bad thing. No matter how high our GDP is... if you're using between 70% to 90% of it you can be sure the currency (PHP) will plummet; and that's exactly what happened.

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TJ
06/06/2013 2:39am

No need to re-invent the wheel. I googled PH economics data and that's where I got the table for real GDP growth rate, Unfortunately, the Wiki article did not show the actual values. In any case, this is a better index rather than the GDP plot (which theoretically should trend up unless the economy stagnates or worse, declines).

The Philippine economy continued growing, i.e., the GDP did not crash during the Martial law years (in fact it's higher than most succeeding presidents). It did decline from what normally was above 5% growth rate to 3% when the political situation and international financial situation soured in the 1980s, then plunged into negative values when Cory called for boycotts of businesses (so did Marcos caused this negative GDP growth or the boycott?).

The other point to consider is, contrary to what the nominal values seem to indicate, GMA's economic performance is not really stellar. Graphs that show exponential growth tend to be deceiving to the eye. That's why, as one post stated, if you linearize the graph, her performance will most likely just fall within the line (basically at par with the rest, not stellar). Giving credit where credit is due means you may have to return to your earlier assessment of GMA's economic performance as president.

Here's a copy of the post in the UP Diliman FB group that adequately answers your question, especially regarding debt to GDP ratio. I think JR Dela Cerna explained it well, so I'll use his exact words.

JR Dela Cerna wrote: "This is neither here nor there, and it doesn't necessarily indicate Marcos as the worst president who have sabotaged our economy. Firstly, the exchange rate's fluctuation is a two-edged sword--a weak Peso is good for exporters (and in fact, this was in line with Marcos' broad industrialization plans and making us an export base akin to China and Singapore) and our overall competitiveness, although it can erode purchasing power and increase our debt servicing costs. Secondly, and in connection to the latter two conditions, even having high debt is relatively okay if we outpace it through higher GDP and GDP per capita growth--something that was achieved during Marcos' years (although it admittedly floundered during the latter years, but that was more because of political instability and the '70's Fuel Crisis). A lot of countries with high debt-to-GDP ratios are doing much better economically (e.g. Singapore at 109%, Belgium at 99%, Canada at 84%, Germany at 82%). Lastly, and more importantly, each president must be judged according to the conditions of his/her times. The '70s was a tough time for economies worldwide; even the US suffered a lot because of fuel price volatility and market speculation. By contrast, the early 2000's (Erap's tenure) was booming and yet nearly all economic metrics back then worsened. To be fair, given the more accurate context, I think Marcos was able to hold the fort, even if it wasn't necessarily stellar.

Don't get me wrong; I am not and never will be a Marcos apologist. But as you said, put credit where credit is due. If he can be blamed for our country's current problems, I think it's more to do with how he weakened our democratic institutions, made a new batch of oligarchs in his attempts to replace the old guard, horrendous human rights violations, and inculcated a corrupted national culture that permeates to all levels of our society. But no, not the economy. So instead of looking at the numbers' face value, I suggest we put it all in proper context."

Boom
06/06/2013 3:15am

No one's trying to reinvent the wheel, my friend; but data can be interpreted many different ways. I'll use Mr. Dela Cerna's example:

JRDC said: "Firstly, the exchange rate's fluctuation is a two-edged sword--a weak Peso is good for exporters (and in fact, this was in line with Marcos' broad industrialization plans and making us an export base akin to China and Singapore) and our overall competitiveness, although it can erode purchasing power and increase our debt servicing costs." --> I agree; however, a rapidly plummeting peso can never be good. In fact, any abrupt and large change (up or down) can't be good. In 1970 alone, the peso dropped by nearly 35%! And, the inevitable result of a plummeting peso is... poverty.

JDRC said: "Secondly, and in connection to the latter two conditions, even having high debt is relatively okay if we outpace it through higher GDP and GDP per capita growth..." --> Again, I agree. However, if we're using up 90% of our GDP (even for a good cause), we'd better be sure we can pay for it. As you've said, our GDP during his time was probably "at par" with all the rest... and most probably hadn't changed with the passing of presidents. If this is so, how were we expected to pay a debt that big. This could've been the reason he implemented martial law in the first place... to try to control the situation.

JRDC said: "Lastly, and more importantly, each president must be judged according to the conditions of his/her times." --> This, I don't agree with. Why? Here's an answer I gave earlier:

There will always be unexpected external factors to any president's term of office. How he or she handles it determines the true mantle of his or her leadership.

I used to be the sales department head of one of our country's top corporations; and the only data management was interested in were the sales figures. It didn't matter if there were too many holidays that month or if the country had just experienced a tragic storm or if half the sales force died in a fire at O'Zone Disco. If I didn't perform, I would get reprimanded or even fired.

We can never accurately predict what external factors will happen during our term to hamper our performance as leaders. We can only prepare for the worse; and when our preparations fall short, we have to take charge and be ready to take the blame... and the repercussions that come with it.

It's all good debate, TJ. I appreciate the opportunity to use my mind. Your comments may disagree with mine, but I will defend to the death your right to say them.

Cheers buddy!

manny manila
06/06/2013 1:53am

Aside from causing the downfall of the national economy, Marcos did one more sin- he corrupted the Armed Forces of the Philippines.

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Batang Pinoy
06/06/2013 1:58am

speaking of corrupting the Armed Forces, who was the General so loyal to PGMA that committed "suicide"??

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John
06/10/2013 6:31pm

During his time, soldiers are more disciplined, a few are rotten..........

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juan
02/27/2014 2:10pm

Huli ng lahat...

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TJ
06/06/2013 5:20am

Hi Boom,

From a reading your explanations, I believe you misunderstand the meaning of the debt to GDP ratio. Let me present an analogy. Say you're earning $50,000 salary per annum. If you decide to buy a $150,000 house this year by borrowing from the bank, this does not mean you stop buying food, or spending for other things over the next three years or more, as your explanation implies, since all of your income will be used to service your debt (which is 3x your salary or GDP).

No, instead, you pay only a certain percentage of the principal and interest per year as your monthly/annual mortgage payment because the loan is amortized over, say 30 years. This is similar to a country's debt. Usually the debt repayment budget of most countries hover around 5-10% of their GDP...not 80%, 90% or 300% as you seem to imply (or confuse with debt to GDP ratio). And that's also why countries like Japan, US, Belgium, Canada, etc. can have high debt to GDP ratio and still perform well economically.

This also tells you that the "investment" you made (house or factory) is something that will be there for a long-time and serve a valuable purpose (i.e., provide shelter, and if this is a factory, then it enables you to generate income from manufacturing) vs. if you just got the loan to spend on your daughter's gala wedding, i.e., to fund short-term consumption). That's also why I said debt by itself is not necessarily a bad thing. In fact, it may be needed if you want to develop as a country.

On the first question, the peso was artificially inflated (much like what China is doing today) by pegging its value at a fixed price (not their "true" market price). When the Philippines "floated" the peso (not entirely under the country's control -- but came from lending institutions), its value became dependent on the global financial markets. The "drop" in the value of the peso simply indicates the degree by which the Philippines was artificially controlling the market. Of course, there will be a gap in the short-term, which usually equalizes in the long-run (e.g., by a corresponding increase in prices and salaries to reflect "true" market values. Although we're used to bragging about the 2:1 exchange peso to dollar exchange rate in the past (actually it was fixed by U.S. and Phil. government agreement, not the market) as a "sign of Phil. economic prowess," it's actually a 2-edged sword. This works OK in the past when our economy is almost 100% domestic (or with a one-way "protectionist" trade with the US), but not in the open economy existing in the world today. A high value of the peso (say relative to the dollar) is not good for Phil. exporters because you're products tend to be very expensive relative to other exporting countries. The situation is worse if the high value is due to artificial manipulation by the government. It is good if you're an importer, but international economics is basically "bartering," which means eventually you have to sell (export) something so you can continue buying (importing) in the international markets of whatever products/services you want/need.

So the question is, do you float your money now (essentially compete in the market) or wait for later? If you wait later, then you take the risk that the gap between the real value of the P vs. it's manipulated value would most likely be even greater...hence also a greater impact on the country's poor. It's a policy decision. What's your choice?

Regarding the third question, the example provided is not a good one. If you're familiar with SPC, Quality Management, or Lean Six Sigma, this is what W. Edwards Deming refers to as "controllable" and "uncontrollable" factors. If your boss fires you for not meeting sales targets because of factors beyond your control (i.e., uncontrollable factors), your boss should be the one fired for not knowing the business and for his incompetence as a manager.

Economic planners usually plan for different scenarios and make decisions accordingly. But, even the best laid plan does not go unaltered because the world is very complex. So you expect some hiccups as well as heart attacks to happen, but like your salesman example, you need to separate controllable from uncontrollable factors...the latter is often also the least understood in the first place. Eventually, this also becomes a policy choice. Do you take the worst case scenario as the basis for your planning (most likely you'll freeze and fail to act at all, much like a deer in front of a speeding car's headlight) or some other options. Economics is about resource scarcity and choice. What's your's?

Why take the context of the times when judging somebody's performance -- well, as they say, hindsight is always 20:20, especially when you have all the "clean data," time, and theory available. But try making decisions in situ during the "confusion and fog of war" and you'll see why knowing the context is important.

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Boom
06/06/2013 7:31pm

TJ, I submit to your superior knowledge, my friend. Rest assured the your inputs will be prominently included in my next update. Thanks buddy! :)

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Chris
03/01/2014 5:46am

Thanks for explaining everything so clear! ;)

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Digs
06/06/2013 7:34am

To some extent, I agree that the Marcos govt started the downfall of the Phil. Economy, not basing this to the peso-dollar exchange rate but by the standard of living of each pinoy, pre Marcos and post Marcos., pre Marcos time, 1 Filipino family needs just 1 min wage earner to cover up all of their needs, food, clothing, shelter and education then came the Marcos presidency bringing corruption in the govt to a whole new level, not only by his family but by his cronies as well. This started the traditional corruption in the Phil govt, corrupting every govt agency, education, health, agriculture,labor, military, etc.. From then on basic services wer not well provided, cronies became filthy rich and untouchable but the Filipino people suffered, Marcos with the help of CIA became one of the wealthiest dictator in world.. The Marcos infrastructure that everybody is talking about was the result of Imelda's edifice complex.., now that Marcos is gone. it is sad that corruption still plagues the Phil govt in fact it is a system now..

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Mar
06/08/2013 3:17pm

Digs forgive me to disagree with your comment on pre-Marcos time.
I am a son of a peasant from the land called "Hacienda". My parents and my grandparents were slaves of the clans called "Hacienderos". Peasants like them were never given even the right to stare at the face of their masters when talking to them much more when they were not talking to you. And guess what would be the punishment when you are caught staring at them without their permission?....... a taste of a leather whip on your back! And guess who were their masters then?.... the clans of Hacienderos of Tarlac and Nueve Ecija. Those were the times that all they can afford in their life is physical strength to bear the punishments and maltreatments for being born poor. My question now is: Do you still hear stories of human sufferings as worse as this after Marcos? Marcos time maybe be considered as the darkest hour in our history after the war by those who never experienced to be treated lower than an animal by the Hacienderos but to those given the freedom from slavery and found another lease of life with human dignity the Apo is a real superhero.
I will never vote any Marcos for any position in the government for their deeds in ruining of economy nor will I ever vote the clans of Cojuanco and Aquino for having a history of being....... inhuman.

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J. Villanueva
06/06/2013 7:40am

The appreciation/depreciation of our currency is not necessarily an indicator of economic growth/stagnation/recession. There are times when a depreciating currency is actually good for the economy. Our current situation would actually be a good example. If you look at the composition of our GDP, exports are actually lagging. Our economic growth is being driven by import consumption. A depreciating peso means that Philippine products that are being exported will become cheaper in the world market while retaining their value locally. A rise in exports would be a better and more sustainable growth driver than import consumption. The BSP is actually tempering the appreciation of the peso; without monetary policy, the peso value would be MUCH higher by now. However, I agree with your presentation of the country's Debt-GDP ratio and GDP, it seems that indeed, Marcos did a rather poor job with our economy during his tenure with rising debt and a slowly rising GDP. The next few presidents didn't do much to improve the economic condition of the country either.
Indeed, GMA produced good economic numbers during her time in office; she is an economist after all. The growth momentum is being sustained and even improved by the current administration. However, the reason why not a lot of people know that GMA did well in the economic front is because growth is NON-INCLUSIVE. If you'd notice, the number of Filipino billionaires (in USD) has increased exponentially in the last decade. Now why do you think that's the case? The challenge now for the current admin is to put in place a system that would help this economic growth trickle down to the masses (more jobs, better healthcare, housing, infra, etc.).

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Mike
06/06/2013 8:00am

I first saw your graph, and I stopped reading. Your analysis is flawed, you cant use exchange rate as a proxy for the economy. Second, your reference to GDP is in nominal terms, try to smoothen by using constant data. Third, review your basic economics. Nice try though, but i wont buy it. ;)

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Boom
06/06/2013 7:36pm

Hi Mike. Don't worry. I won't sell it to you. Hehehe! At any rate, I'v taken your suggestions to heart and will try to do better in my next update. Cheers!

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Alain
06/06/2013 10:06am

@Mike - you said you saw the graph and stopped reading. And then you proceed to critique the body of the article. Ano nga ba talaga? Binasa mo ba o hinde?

Peace bro!

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Adrian
06/06/2013 10:21am

Interesting. Very simple and easy to understand but maybe a bit too simplistic as seen in your last paragraph.

There is more to corruption and population. To explain further why many still don't feel the benefits of our economic growth. The country needs much more investments in sectors that will create jobs for the poor such as manufacturing and also agriculture. Our current anti poverty programs are not enough.

Looking forward to your next post.

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boggss
06/06/2013 10:24am

Which Philippine President Caused the Downfall of the Philippine's Economy?

Answer: Cory Aquino

Post FM, GMA was the only president that had strong economic reforms that we all started to enjoy todate.

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Janry Aliganga
06/06/2013 10:32am

very interesting! thanks Sir Boom! look what GMA and PNoy have done...well except for the 2008 period where the economic global crisis occurred re: Lehman Bros...

I assume the growing IT/Contact Center-BPO industry during GMA's time is one of the big contributor, while PNoy's strict Tax collection, fewer expenditures and increased tourism (yeah Koreans everywhere since GMA's time) has been a big help...

not to mention the growing number of OFW's in any part of the world...

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Ross
06/06/2013 11:49am

What could have been our economy now if Enrile that time succeeded Marcos as President? Would EDSA 1 still exist ? - which is the epitome of freedom BUT a de-stabilizer of economic balance.

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06/06/2013 12:34pm

in my opinion, one of the causes of the downfall of the economy during the marcos era is the Filipinos. Filipinos (that time) doesn't want to be disciplined (e.g. implement bans, curfews). rather they want utmost freedom. Cory A. gave them freedom but what is the effect? the huge economic drop of the Philippines. Filipinos become ill mentalitized by the word freedom and freedom only, not considering the effects of the upcoming revolt (EDSA rev.) to our country is a little bit disappointing. They become selfish, they are not thinking about our country as a potential leader in the world thus they thought about their freedom. Yes we enjoy our freedom up to today but in what state? Filipinos should've thought of that more thoroughly.

Cory A. being elected as president only brought the philippines down to the shallows. Postponing her agrarian reforms up to now. Filipinos should have gained knowledge that she is a cojuangco, she owns may lands, yet in her family she is not the powerful one, being advised by her siblings to do this and that, harming the workers of their land (hacienda luisita massacre) which is up to now is being kept secret and hid by the government under a protection order. A PROTECTION ORDER? yes i saw an exclusive video of it through my professor, she copied the video before it is sent to the SC(supreme court) for secrecy. WHY? because the court doesn't want to happen the fall of marcos happen to cory. Cory has many secrets hidden in the mist yet she is loved by most of Filipinos because of their FREEDOM. Anyway this is just my opinion, Ferdinand Marcos and Gloria Arroyo (although slow but effects are impressing) was the successful presidents for me. also basing on the graph. kudos'

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Molybdenum Studios
06/06/2013 6:31pm

You certainly have a point RP. However, giving up a citizen's rights does not always equate progress. As a matter of fact, the "Filipino first" policy should be revised and implemented soon after. That way, there would be such thing as development with human rights.

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06/06/2013 12:56pm

Marcos was the first to drag the economy of the Philippines. Now I have a strong evidence to slap on those Marcos minions. Thanks for this article.

Also, I have to slap my face for blaming GMA as well. hahaha.

I know the reason why Filipinos have not fully experience the economic boom we have right now:

It's the simple knowledge of earning more money than spending it unnecessarily.

A lot of Filipinos have "poor mentality" even the rich ones have.

An example is when a poor or a middle class Pinoy won a lottery. In just a few months, all these would just go down the drain.


According to the Rich Dad Poor Dad book: Get more assets, minimize the liability.

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06/06/2013 1:02pm

your chart only tells half a story without inflation, unemployment and per capita income

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06/06/2013 1:05pm

and foreign direct investments

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Boom
06/06/2013 7:20pm

You're right, Crowester. I'm working on it. Data before 1980 is just so darn hard to find. :P

friendster
06/06/2013 1:05pm

to tj, batang pinoy and mike you said what i wanted to say thanks

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Boom
06/06/2013 7:21pm

Friendster... honestly... you said what I wanted to say. Thanks. :)

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tash
06/07/2013 9:25am

same here!

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Observer
06/06/2013 1:13pm

We also have to give credit to the finance ministers. The reason behind GMA's great economic success was due to the finance minister, Gary Teves.

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George
06/06/2013 1:57pm

Arroyo is an economist

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Milo96
06/06/2013 6:07pm

Real GDP % Inflation
FM (0.09) 19.23 * 1980 to 1985 only
Cory 3.35 9.63
FVR 3.14 7.99
Erap 2.31 5.33
GMA 4.78 5.14
Pnoy 6.04 3.88
* source: IMF.org

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Boom
06/06/2013 7:04pm

Hi Milo. Thanks again. I checked the IMF data and, as you've indicated here, it only reaches as far back as 1980 (not 1965).

Interestingly enough, however, even after floating the peso back in the 70s, inflation still remained high.

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Molybdenum Studios
06/06/2013 6:23pm

I believe, PNoy did a great job in reforming the economy. Speaking of economy, PNoy is not a problem with that, but when it comes to politics- and foreign-related stuff, he needs more improvement, but I still give kudos to him and his administration, though!

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futurepinoy
06/06/2013 6:54pm

Past is past. Lahat ng taong kumakandidato sa pinas para lang palagi sa pera. Mukang pera ang karamihang taong pulitoko sa pinas at kapangyarihan lang ang hanap. Simula sa mga background ng poilitikong kumakandidatong iba puro wala pang pinag aralan at walang background ng pagiging leader. Pera lang palaging hanap. Kung may isang magaling na leader lang na makakapag paandar ng likas na yaman ng mga pilipino kundi sipag at tyaga malayo ang mararating ng bansa kung talagang ibang tao at ekonomiya ang iniisip hindi lang ang bulsa palagi.

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Pinoyhenyo
06/06/2013 6:59pm

Tama ka futurepinoy. Kung maayos lang ang bansa ng hindi pwedeng kumandidato ang mga walang pinag aralan simula sa barangay captain pataas, siguro maayos lahat ng mga kalokohan sa pinas. Reseach and development is the key.

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Batangbibo
06/06/2013 7:10pm

Tama kayong dalawa lahat ng pinag uusapan dito ng lahat tungkol sa mga nakaraang mga presidente eh wala ng magagawa sa kung anong mangyayari sa pinas bukas. Kung talagang gusto magbago may magbabago ika nga kung talagang gustong dumeretcho sa tamang daan sa kasalukuyan titingin hindi paurong palagi. Sino kaya dito sa mga tao dito ang talagang may pakialam sa bansa at hindi ng pang sarili lang ang iniisip?. Idaan na lang sa gawa hindi sa puro salita ang pagbabago. Problema ng bansa puro negatibong leader na walang alam tungkol sa ekonomiya puro hangin lang laman ng bunganga wala naman talagang alam sa pamamalakad.

Boom
06/06/2013 7:26pm

Tama kayo. Past is past. Kaya ko lang naman isinulat ito dahil gusto ko sanang malaman kung tama ang mga hinala (theories) ko. Hidi ko naman alam na dadami ng ganyan ang comments dito eh.

Pasensiya na.

Acir
06/06/2013 11:39pm

Hi, Boom.

Thanks for sharing this. I truly enjoyed reading everyone's opinions. It made me realize that there should be more blogs and posts like this... Posts that initiate intelligent debate and tackle on issues that make readers, like me, think about our nation, our progress as a nation, and how we can contribute to keep our country moving forward.

Hindi yung posts na puro nalang about showbiz-- mga latest hairstyle ni Charice, Baretto feud, and all those seemingly useless info.

Boom
06/07/2013 11:54am

@Acir - Thank you so much for your comment. I'm still fumbling over the numbers; but, with all the inputs (positive and negative), I hope to come up with a chart relatively acceptable to most... hopefully. :)

Boom
06/06/2013 7:06pm

Darn! I opened up a can of worms.

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Boomlover
06/06/2013 7:22pm

Your doing a pretty good job though.This is not actually a can of worms but a research how to improve the system. I hope that this will help you to be a very good researcher and be an asset to how to improve the country.

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Boom
06/06/2013 10:27pm

Thanks! I needed that.

Batang Pinoy
06/06/2013 7:25pm

WOW!! informative stuff about economy as I read the thread. I think im learning, good thing i got hold of this link from FB.

Pardon me for I’m not well verse with economics or the "math" of the economy. This makes me part of the masses or the majority who doesn’t understand the importance of GDP and why the FOREX PHP to USD is always on the news. I remember when PHP value is low, it was good for "us". Our family who rely sometimes on USD from the "padalas", but deep inside we know that the economy of Pinas is hurting with the low PHP value. Upon reading the comments and replies, I began to grasp a little bit why these numbers are so important and how it affects the daily life of Filipinos.

But I found something more interesting while reading all the comments here, It seems most of us see the numbers and ultimately have a conclusion. Without really understanding how these numbers came up to be, then this is just the same as telling your kids "bagsak ka nanaman, di ka kasi nag-aral" without even asking them why. By just looking at the graph, anything going down is really bad then i can say the MARCOS really messed up! And PGMA with a good GDP or a good score did a good job. To all these REALTY says NO.

Please let us not just look at the "NUMBERS", there is more into it. When ERAP won the Presidential race back then, his win was almost a landslide. Does that mean most of the Filipinos approved him? While on the news everyday "the Business Sector" says his win was bad for the economy. I’m lost, if he has the most number of votes or approval from the Filipinos why there is a speculation of a bad economy? I did remember during ERAP's term when 1USD = 50++PHP, will it means that it is not ERAP himself did the damage but the people who elected him in the first place cause nobody listen to "the business sector"?

Can I look at these graphs differently?

Can I say Marcos had a Master plan for the Philippines? By Building Infrastructures, schools (IRRI, National Arts Center etc), Health Centers (Heart Center, Lung Center, Kidney center), Cultural Center of the Philippines (to me this is the most important of all), the Bataan Nuclear Power Plant etc. All These we don’t have these before, IRRI was the one who teach most of ASIA about rice farming (I don’t know why we import rice? was it because Mt. Pinatubo erupted?) Then there was the LRT/MRT systems, I’ve have seen a Manila Master Plan Showing the current MRT lines drawn up since the 80's. And yet most of the younger generations think this was GMA's idea (good thing she pursue this Project to a reality!) With all these visions for the Philippines, then I say Marcos was a good president. But the graph says otherwise.

Can I say Cory Aquino made the Philippines more religious? She had the Philippines at a very bad condition. But i don’t really remember anything AQUINO did something special, except for the creation of the PCGG who were after the Marcos’s ill gotten wealth. I remember the massive investigation for the Ninoy's murder (i wonder why this is not closed yet? do we have bantay-salakay?) Oh and the frequent brown-outs that messed up my mother's business of ice buko and ice cream store. I don’t remember she ever did continue any of the Marcos’s Projects. But we all have DEMOCRACY. I bet she did economic reforms, But the graph says otherwise.

Can I say FVR made us move forward with Philippines 2000? He was good with economy as my uncle says. I remember Philippines having so many development Projects but eventually slowed down during the Asian crisis. And we have the skyways! With lots of infrastructure and economic reforms during his term. I think he was a good president, But the graph says otherwise.

Then came ERAP.. “without the kamag-anak and kumpare” theme of governance.. we can discuss more but let’s just move on to PGMA. At some point the economy was good and moving up. I still remember Filipinos having jobs. I remember on the news that she did good of course, she is an economist. Numbers wise she may have the best results compare the other presidents, but just like Marcos Philippines was messed up towards the end of her term. Numbers of her score maybe good but her entire term was plague by so much “scams”, just like Marcos in terms of corruption But the graph says otherwise.
With PNoy, well it is not yet done.. maybe he is on the right direction or maybe he is just after PGMA? Atleast we are on “Daang matuwid” as he says..

Having said these very lengthy comment, to me it just shows that the graph is neither a direct mirror of Philippines economy nor the basis of how bad or good the presidents was. It was just a graph base on ACTUAL and REAL numbers but never truly express the context of why the economy had its downfall. It can be misleading to a layman (mang Pandoy or aling Barang) who cannot truly comprehend these graphs

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Boom
06/06/2013 7:42pm

You hit the mark, Batang Pinoy! I apologize for trying to sell the numbers. Thanks.

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Batang Pinoy
06/06/2013 7:51pm

No need to apologize, without this we will not have this conversation and if you haven't posted this graph then less people will understand what the heck is going on.. imagine if you just keep it your self? good job Boom, i just hope more Filipinos engage in this rather than watching telenovelas lol :)

Boom
06/07/2013 1:29pm

@Batang Pinoy - Thanks again! But... I like those telenovelas. Hahaha! Have a fantastic day! :)

Batang Pinoy
06/06/2013 7:47pm

Here is the continuation, sorry got carried away and started writing..

------> Having said these very lengthy comment, to me it just shows that the graph is neither a direct mirror of Philippines economy nor the basis of how bad or good the presidents was. It was just a graph base on ACTUAL and REAL numbers but never truly express the context of why the economy had its downfall. It can be misleading to a layman (mang Pandoy or aling Barang) who cannot truly comprehend these graphs. The “controlled“ and “uncontrollable” scenarios of the country affecting the economy and the Presidents legacy. The very good thing with this article is we (sana madami pa maka-basa nito) tend see the past lessons for us to prepare for the future. These presidents are DONE! Now what we learned should eventually translate into better votes in the future. Educate the youth and Philippines will be great again as always  (kasi tandaan ang aral ni Jose Rizal, ang Kabataan ang pag-asa ng bayan)

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inventor jess
06/06/2013 8:16pm

The (FTI) Food Terminal Inc. in Taguig which a converging point of fresh harvest from different part of Luzon through the rail system (PNR) is one of the most brilliant project of Mr Marcos then. The metro manila residents can buy cheapest and fresh food from the FTI with no contaminants. The individual farmers from Northern part of Luzon as well as to the Southern part has a widest opportunity to deliver their fresh harvest directly to the buyer in metro manila without cuts or commission from the middle man, which in turn increased their daily income. The FTI is a gate way for individual farmers and small entrepreneurs to have a better income and profits, thereby helping the economy grows faster. UNFORTUNATELY, IT WAS SHUT DOWN FOR UNKNOWN REASON!!!

The Bataan Nuclear Power Plant is structurally sound and safe. It was build in accordance with international standard and well maintained until today. The Filipino people would have been enjoying the 50 centavos per Kilowatt hour price of electricity if the BNPP was put to action. UNFORNATELY, IT WAS SHUT DOWN!!!

now my question is, who is patriotic, nationalistic and have a heart president in this country?

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Val
06/21/2013 1:31pm

The plant was completed in 1984. Marcos was ousted in 1986. Why didn't they begin operating it upon completion if it was "structurally sound and safe"? Why was it built near a major fault line and why were over 4,000 defects found if it was built "in accordance with international standard" (sic)? Can you name any other nuclear power plants in the world that are situated only 9km from a "potentially active" volcano?

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ProudFilipino
08/13/2013 6:47pm

Recently they inspected the BNPP and found out things which contradicts to your claims. Fault lines? I don't think so. There was also a research wherein they looked unto potential places to built a nuclear power plant and the one were BNPP stood is in the list.

Angela
06/06/2013 10:25pm

To say that GMA improved our economy is perhaps convincing... first the increase in GDP may be caused by increase in consumer spending, brought about by the influx of foreign remittances. Note that GMA promoted OFWs to work outside the country because she couldn't create jobs here... sad but true... during her time we saw a significant brain drain here -- losing our nurses, teachers, accountants, IT experts etc to other countries...check also if we had foreign investments during her time... note that we were once (or twice?) ranked one of the most corrupt countries in the world! Embarrassing but true , with FG Mike leading the wolf pack..GDP perhaps increased also due to increased govt spending or should we say "overpriced" govt projects - thanks to the meddling of FG Mike....The Peso/$ exchange rate improved not bec of her monetary or fiscal policies but perhaps to increased foreign remittances of our OFWs.... so more scrutiny shoild be done before concluding GMA 'improved' our economy... what I know and observed now with PNoy, more foreign investments are funding the growth due to more transparency and more trust in the present govt compared to the previous regimes... but I agree, more work to be done for PNoy. Just my thoughts on the matter....

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Dennis Nazario (SOL 78)
06/06/2013 10:37pm

Hi Boom,

Judging by the comments coming in every hour since you posted the questions...you hit a hornet nest. But its a welcoming picture that people are starting to be aware of the political situation and how it affects their daily lives.

The data would really impress upon us that Pres Marcos is to blame. But to be fair, there are deeper stories to the numbers. The Philippines is only 1 country in a global economy so when a larger economy gets hit...we are in the throes in our death bed. Now correlating this stories to the number would be like writing and reading a political thriller.

Something to add to what happened in the 1970's apart from stay in parties, Led Zeppelin, Hues Corporation, bell buttoms etc. is that there was the first energy crisis (there was even gas rationing), because of the first central luzon flood, rice was rationed and combined with corn grits. At least we do not have problems with drugs, crime rate was down, the oligarchs did not rule, there were no monopolies. Oh well, corruption has existed even before Marcos was born and may have even pre dated prostitution.

But I fully agree with you, after knowing the problem, what do we do about it. And it was so ever convenient even until now to use Marcos as the scapegoat for all our problems. P Noy wants us to remember this by changing our history books.

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Boom
06/07/2013 1:38pm

SOL Dennis! Thank you so much for your comment. I am beginning to realize that no matter how many numbers I put on the board, it still all boils down to the human element. Which only means that this debate will never end.

I like your last statement, though... and I agree with it completely. After knowing the problem, what do we do about it?

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Dennis SOL 78
06/14/2013 11:39am

Hi Boom,

This discussion is really hot. After my post there has been a lot more post. Congratulations to you.

I agree, despite all of the external factors, it all boils down to the human element, the Filipino, as an individual and as a citizen.

Not being too political or profound, maybe if we as country have a common set of principles to which we would stand or an ideology to which we believe in, then perhaps the finger pointing would be minimized and a lot more constructive work.

Angela
06/06/2013 10:38pm

To say that GMA improved our economy is perhaps NOT AT ALL convincing... first the increase in GDP may be caused by increase in consumer spending, brought about by the influx of foreign remittances. Note that GMA promoted OFWs to work outside the country because she couldn't create jobs here... sad but true... during her time we saw a significant brain drain here -- losing our nurses, teachers, accountants, IT experts etc to other countries...check also if we had foreign investments during her time... note that we were once (or twice?) ranked one of the most corrupt countries in the world! Embarrassing but true , with FG Mike leading the wolf pack..GDP perhaps increased also due to increased govt spending or should we say "overpriced" govt projects - thanks to the meddling of FG Mike....The Peso/$ exchange rate improved not bec of her monetary or fiscal policies but perhaps to increased foreign remittances of our OFWs.... so more scrutiny shoild be done before concluding GMA 'improved' our economy... what I know and observed now with PNoy, more foreign investments are funding the growth due to more transparency and more trust in the present govt compared to the previous regimes... but I agree, more work to be done for PNoy.

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Angela
06/06/2013 10:39pm

Revised: To say that GMA improved our economy is perhaps NOT AT ALL convincing... first the increase in GDP may be caused by increase in consumer spending, brought about by the influx of foreign remittances. Note that GMA promoted OFWs to work outside the country because she couldn't create jobs here... sad but true... during her time we saw a significant brain drain here -- losing our nurses, teachers, accountants, IT experts etc to other countries...check also if we had foreign investments during her time... note that we were once (or twice?) ranked one of the most corrupt countries in the world! Embarrassing but true , with FG Mike leading the wolf pack..GDP perhaps increased also due to increased govt spending or should we say "overpriced" govt projects - thanks to the meddling of FG Mike....The Peso/$ exchange rate improved not bec of her monetary or fiscal policies but perhaps to increased foreign remittances of our OFWs.... so more scrutiny shoild be done before concluding GMA 'improved' our economy... what I know and observed now with PNoy, more foreign investments are funding the growth due to more transparency and more trust in the present govt compared to the previous regimes... but I agree, more work to be done for PNoy.

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Abel
06/07/2013 6:17am

187 comments! These are the articles that we need. One that objectively presents facts and let readers arrive at a, hopefully, collective conclusion.

I agree that it takes more resources and time for a free falling economy to climb, comparing that to an airplane desperately trying to recover lost altitude after nearly crashing. But more than resources, we need genuine servants to rise from every pillar of the government and inspire all filipinos to a common goal - nation building.

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Boom
06/07/2013 1:42pm

Hi Abel. Thank you so much for your comment. I agree with everything you said. I'm glad something good is coming out of this article.

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bugatti71
06/07/2013 8:26am

nice research but may i ask you , how old are you? did you feel the economy during the time of marcos until now? lets not odd man out the presence of marcos in the philippines during his reign he does many good things even during my elementary days. he send support for the poor familys. common!! what is here now?

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Boom
06/07/2013 12:07pm

I'm over 50, my friend. I'm glad you had some good experience during those days. I experienced something else back then. I experienced fear.

I fully agree that, during Marcos' time, manufacturing and industry were in full swing and that infrastructure and future developments were on the boards and being implemented.

Marcos, however, ruled with an iron fist after he declared Martial law. I saw this first hand. But, it wasn't fear of the law that prevailed. It was just fear of Marcos. It didn't matter whether we did right or wrong; if Marcos (or the police) wanted you in jail or worse that's exactly what would happen. No due process. I saw my uncle dragged from his house in front of my aunt and their crying children. His crime? He arrived home after picking up my cousin from a party and failed to beat the curfew. He was never seen or heard from again.

He never instilled discipline in our nation. He instilled fear. If it had been discipline, we would still be disciplined today. As you can see, that's not the case.

At any rate, I thank you so much for your comment. I really appreciate all comments (negative or positive). All the comments here are helping me grow. Thank you again and keep on commenting.

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rey
06/08/2013 7:18am

may i ask why you feared marcos? does he know you personally that if you make even small mistake, he (marcos) will punish you or kill you if that's what you like to point out..can i ask you this: did marcos came into your uncle's house and took your uncle and you never seen your uncle since??every killing during marcos time is his doing?? didn't you think that maybe one of those assholes that took your uncle have a grudge on him or whatever the issue they have for your uncle??these people who talk fear during marcos times are geniuses maybe..cuz i can't imagine how president marcos scared the shit out of them as if marcos knew them personally, knew where they live and hide if incase they make mistakes..it's like these people saying that marcos can see every filipinos and see what they do every second..care to explain??

Boom
06/08/2013 1:03pm

@rey - No. Marcos did not personally go to my uncle's house; but he provided the police with the "unjust" tools to commit heinous crimes. In fact, the mere removal of the "writ of habeas corpus" was enough for police and military to do whatever they wanted to whomever they wanted.

If Marcos wanted to instill discipline, he did it the wrong way. Discipline is never subjective. It is always objective. By giving the police and military powers they could so easily abuse, he made it subjective.

Therefore, because of the rule of "command responsibility", Marcos is responsible.

hyundaipromos
06/07/2013 11:15am

Lee. Jack. Batang Pinoy I agree with you guys and not with the graph. Its the negative filipino attitudes backed by the oligarchs made the downfall of our country. Sana mahalin na natin ang Pilipinas. Pati nga sari nating wika ayaw pa natin yakapin.........

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Boom
06/07/2013 12:22pm

Dude, I agree with you. Ever since the time of the Spaniards, the elitist oligarchs have ruled the country.

Ginawa ko lang naman ang graph na ito to prove something to myself. Ang kasalanan ko ay ginawa ko siyang blog at naghanap ng opinion ng iba. Hindi ko akalain na aabot pa sa ganito. For this, I am truly sorry.

Pero honestly, I highly appreciate all your comments; lalong-lalo na yung mga comments na "against my article". Bakit? Kasi I learn more from criticism and negative comments than from affirmation and kind words.

I replied to you to encourage you to keep on commenting. I'm learning a lot.

By the way, I hope you don't mind if I also give you some feedback... I know you love our country; but do you have to promote a Korean brand while boasting about your love for the Philippines? Medyo 'di bagay eh.

If I hurt your feelings, I'm truly sorry; but I feel that you're a person who is strong enough and mature enough to take my criticism.

Cheers! :)

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hyundaipromos
06/07/2013 11:36am

Answer: absence of love to our country that leads to Naionwide corruption in different forms. That made this country fall.

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Boom
06/07/2013 12:09pm

I agree completely! :)

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carlo
06/07/2013 1:11pm

Sir, perhaps you can also look into our financial policies prior to 1965 which to our reliance on foreign financial institutions during the Marcos Era. Here's something I found off the internet.

http://books.google.com.ph/books?id=si8b5dphyIAC&pg=PA214&lpg=PA214&dq=philippines+financial+system+1965&source=bl&ots=MO6EQsDOkX&sig=PiZGsWznfF4mKlhm9mp_ToLdNrQ&hl=en&sa=X&ei=a1mxUduQJa-XiQfv-oGwCA&ved=0CFMQ6AEwCDgK#v=onepage&q=philippines%20financial%20system%201965&f=false

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Boom
06/07/2013 1:27pm

That's a fantastic suggestion, Carlo. I'll do that. Thanks for the link. :)

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Gem
06/07/2013 7:14pm

I agree Marcos started the worst corruption in the country and uptodate corruption still exist in government offices nationwide.

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chi
06/07/2013 9:20pm

looking at the graph, ERAP just inherited the economy from FVR. the DEBT-GDP% is already soaring and FX is plummeting. looking closely, he even minimized the % change. his clear responsibility is when the GDP crashed, though he managed to reversed it. what i remembered is the Asian Crisis at the start of his term and lack of support from the business/church sector. any other thoughts...

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Batang Pinoy
06/07/2013 10:44pm

Given all these viewpoints and comments from everyone, it seems the downfall of our economy was due to the Filipino's itself.. may it be the government for its abuse of power and the people itself for its abuse of democracy or lack of discipline there of. (hence the term pasaway!!)

We have seen the graphs, we have survived these administrations, we have been there done that. Now from an economist perspective how do we start to build this nation of ours? What kind of Policies can you suggest so the past can be prevented from happening again?

Boom,

I agree with you, your suspect of population and corruption. Just Manila itself is so dense that we can compete with India. Proper Planning and zoning does not exist, Education of the less fortunate was never a priority. Salaries of the working class is enough for them to survive, can you imagine if all the OFW's returned home? Can the government policies provide job securities? Can the government can actually provide a solution to the countries POVERTY CYCLE? Your graph showed the way of the past and present, can we plan out the future? I will wait for your new blog for that. :)

Mabuhay ka pare ko!

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06/08/2013 1:29pm

I'm actually starting to think it's not population that's the problem; but rather, population distribution. You're right about the zoning thing, Bro.

Cheers!

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TJ
06/08/2013 2:05am

Hi Boom,

As the maxim goes, GIGO (Garban In, Garbage Out). In light of the recommended corrections, at a minimum I suggest re-posting your graphs using (1) real GDP used instead of the nominal values, and (2) with the exchange rate data excluded (it's nothing but a big red herring that feeds on some people's pre-conceived notions, albeit wrong). Else, the same errors will just be posted and re-posted.

I also suggest referring to some of the published works on the matter rather than re-inventing the wheel. A good reference would be Balicasag, A. and H. Hill (eds.). 2003. The Philippine Economy: Development, Policies and Challenges. Ateneo de Manila University Press. The Introduction section contains a summary of basically the key issues this thread is engaged in. It also includes comparative values of average growth of GDP in SE Asia (i.e., among RP, Indonesia, Malaysia, Singapore and Thailand); as well as graphs of "real GDP and GNP per capita" and GDP growth (%), per Capita GDP growth and labor productivity from 1970 through 2000. So all you need to add/research are updates through 2012.

Chapter 2 (Political Economy) provides an analysis of the major historical trends in the Philippine political economy from the 19th century to recent era. For those interested in the monetary issues, Chapter 3 (Monetary and Exchange Rate Policy) as well as Chapter 4 (Public Finance) provides a more complete and well researched discussions.

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Boom
06/08/2013 1:05pm

Great inputs, TJ! Sorry for crunching the numbers too slowly. I still have a business to run... ;)

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rey
06/08/2013 7:53am

i don't care what you say bout president marcos..i still look up to that guy and wished he can still smile from up there looking at how the philippines now after 20 yrs..base on your question, my answer is any of the president after marcos or before..i can prove to you that those borrowed money by marcos was put to good use..ex: infrastructures that you can see and the war with NPA's,MILF and MNLF..can you imagine if president marcos didn't borrowed money to fight them? i live in mindanao most of my life and i can tell you right now..you don't know what fear means..you are scared of marcos who doesn't know where you live how much more if you live near those rebels..i don't know how much money one country needs to fight a war but i guess you can answer me that cuz you are good at researching..people in the philippines are enjoying those infrastructures and people in the philippines are enjoying their freedom..your chart is bout money and it can be paid..president marcos put it to good use, how bout the other presidents before and after him?

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Boom
06/08/2013 1:09pm

I can respect that, Rey. You may not agree with me, but I will always respect your right to voice it out. That's why I never moderate the comments in my blogs. Cheers!

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Sam
06/09/2013 8:34am

Si Rey is part of that culture,"The Social Cancer" Do not expect any changes at all if you have someone like Rey

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Kit
06/09/2013 11:06pm

Yes, It can be paid, in fact, we're still paying the interests alone.

People in the Philippines are enjoying their freedom because they fought for it! Don't mistake that as given by Marcos.

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06/08/2013 9:44am

Let us forget the wrongs of the past. But we have to learn from the mistakes so that we will not repeat those mistakes again. My suggestions in order recover us out from the deep pit of political and economic bankruptcy are as follows:

PROFESSIONALIZE POLITICS.
First, I believe that professionalizing the political profession is imperative now. On qualifications of candidates, in order to become the president of the Philippines, a qualified candidate should have been either a vice president or a senate president. A candidate for vice president should have been either a senate president or a senate majority leader or a senate minority leader. A candidate for senator should have been either a congressman or governor or a department secretary. A congressman should have been a governor, a vice governor or senior board member or an undersecretary. A candidate for governor should have been a vice governor, a congressman or a senior board member. A candidate for vice governor should have been a congressman or senior board member. A candidate for board member should have been a mayor or a vice mayor. A candidate for mayor should have been a vice mayor or a municipal council majority floor leader. A candidate for vice mayor should have been a council majority leader or a senior councilor or a president of the association of barangay chairs. A candidate for councilor should have been a barangay chairman or a president of the association of barangay kagawad. The foregoing should be refined further in order to consider other necessary qualifications. An exception to these is a holder of a doctorate degree in public administration (or equivalent CESO level) maybe qualified to run for governor or vice-governor, and a holder of a masters degree in public administration (or equivalent CESO level) maybe qualified to run as mayor or vice-mayor. On the other hand, due to the experience of lawyers, a senior lawyer may run for board member and a young lawyer may run for councilor.

MINIMIZE ELECTION EXPENSES.
Secondly, after a candidate has been qualified for any elected public position, the government has to provide all necessary election campaign materials or medium for free, i.e. sample ballot, posters, banners, streamers, TV/radio and print ads, etc. The government also has to provide all other logistical support for the qualified candidate, including transportation. In other words, the personal expenses of the qualified candidate have to be pegged to the minimum in order to minimize if not to eliminate the reasons for government officials to commit corruption while in office. This will also level the playing field for all the qualified candidates. Also, candidates are not supposed to receive donations from big businessmen and influential individuals.

RATIONALIZE SALARIES & BENEFITS.
Thirdly, the salaries of government officials have to be rationalized. At present the salaries of government executives are very low compared to their counterpart in the business sector or corporate world. The president of the Philippines should receive on a monthly basis not less than pesos six hundred thousand (PhP600,000), the vice president not less than PhP500,000, the senate president at PhP450,000, sanators at PhP400,000, governors at PhP350,000, vice governors and congressmen at PhP300,000, board members at PhP250,000, mayors at PhP200,000, vice mayor at PhP175,000, councilors at PhP150,000, barangay chair at PhP125,000, barangay kagawad at PhP100,000. All government executives should also be entitled to food allowance while on duty, free transportation, free hospitalization, free insurance coverage, free education for their children, etc.

NO MORE PORK BARREL/ INTEL FUNDS
There should be no more pork barrel and intelligent funds that are usually not fully accounted for. This is the major source of corruption in government. All funds budgeted for projects should go the actual cost of the project - materials, labor, supervision, tools, equipment, overhead, tax, and other direct expenses - no more tongpats or kick backs. That is why we have to rationalize the salaries of government officials & employees to be at par if not better than that of the corporate world. Even the entry level clerks in government should receive salaries higher than those call center workers in order to attract the best of the new graduates.

JURY SYSTEM

Let us study and consider the possibility of adopting the Jury system in America as this system would reduce the dependence on a corrupt judge on the final judgement. I wonder why Uncle Sam didn't want us to include it in our system since the beginning?

TRANSPARENCY of FOI BILL
Last but not the least, the Transparency Bill or FOI Bill must be enacted soon. P'Noy must certify it as urgent if he really want to leave us a legacy. This bill ensures that the gains versus corruption in government will be continuously maintained, guarded by the public..

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06/08/2013 1:12pm

William, what you wrote is beautiful! Keep on sharing your wisdom, Bro! :)

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william jacinto juan
06/09/2013 8:34pm

thanks Boom!

06/08/2013 10:16am

It wasn't Ferdinand Marcos who caused the downfall it this
Shultz and the 'Hit Men' Destroyed the Philippines
http://www.financemanila.net/forum/viewtopic.php?f=1&t=858&start=3302#p582389

read it

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marcos apologists are idiots
06/08/2013 10:33am

those who never lived through the horrors of martial law keep blaming 'oligarchs', not realizing that marcos's first ambition was to BE an oligarch himself. why would he steal so much money in the first place? here, study your lessons!

http://asianjournalusa.com/chronology-of-the-marcos-plunder-p10909-67.htm#.Uau_2K6eMHw.facebook

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06/08/2013 11:29am

Marcos minions keep blaming the oligarchs. With Pnoy, they just blame Pnoy. How the irony.

Wake up blinded apologists and defenders of a failed president. Why do you keep defending a president who reigned for 20 years?!

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06/08/2013 1:57pm

Wasn't defending Marcos, was just showing that the economic downfall of the Philippines was planned and pre-meditated by an outside force "roll-eyes"

PNoy forcing students to study the history of martial law by making it into a republic act is something to think about, especially where PNoy's family background came from. Why doesn't he force the student to study the Hacienda Luisita, which claims the lives of innocent people and farmers trying to survive?

ABS-CBN-SUCKS
06/08/2013 11:20am

You seem to have taken the graph out of context. If you take a look at the entire Philippine foreign exchange rate against the USD then you'll see that the fall started from 1960. Get your facts right. Don't tell half-truths.

The graph can be found at http://fxtop.com/en/historical-exchange-rates-graph-zoom.php?C1=USD&C2=MYR&A=1&DD1=&MM1=&YYYY1=1970&DD2=07&MM2=06&YYYY2=2013&LARGE=1&LANG=en&CJ=0

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Boom
06/08/2013 1:21pm

Wow! Nice judgement on me. So, amalayer now. Thank you.

Do you even know how far the graph went in the website when I looked for the data? I typed in 1953, but the graph went only as far back as 1962. The owners of the site must have updated it recently.

Thanks for informing me about the update.

So, before you judge someone, get your facts straight.

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william jacinto juan
06/09/2013 8:37pm

then I would suggest the graph should start as early as 1946...

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06/08/2013 12:10pm

Agree on all counts, galing! except population.

population is not our problem, it is poverty caused by corruption and economic policies.

look at it this way: saan pumunta ang 90% [gdp to debt]? PALABAS! sa masterstroke ng international banking cartel, nainstitutionalize niya na maging 90% ng lahat ng output ng Pilipinas ay "TONG" nila.
salamat po

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Roel
06/08/2013 12:40pm

Mahirap iangat ang econmy ng isang bansa lalo nat malaki ang ibinagsak noong mga panahon mula 1965 hanggang 1986, talgang maglalaro ang trend na ito depende pa sa kung ano ang policy at management na ipinatutupad ng kung sino ang kasalukuyang presidente ng ating bansa. isma mo na diyan kung ano ang condition ng environment natin., bagyo, lindol o alin mang kalamidad na nakakaapekto sa katayuan ng bawat mamayan at sa economy ng ating bansa. dapat tuloy tuloy ang progresso at dapat mapalitan man ang presidente at lahat ng nanunungkulan sa ating bansa hindi dapat maapektuhan ang lahat ng magagandang bagay o layunin nasimulan na regardless kung sino ang lumikha, Sa North America ay ganyan ang kanilang ginagawa.

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06/08/2013 1:31pm

Thanks for this. I actually made a link to this article. A good reference for students studying Marcos.

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06/08/2013 2:07pm

A video by Pinoy Pride
https://www.facebook.com/video/video.php?v=108706336002261
This video is all you need to know, and doesn't need a whole curriculum for students to study in their semester

Also something to read (must have an open mind, no short tempered people allowed)
copy & paste the URL below

http://www.financemanila.net/forum/viewtopic.php?f=1&t=858&start=3302#p582389

http://www.financemanila.net/forum/viewtopic.php?f=1&t=858&start=3328#p583446

http://www.financemanila.net/forum/viewtopic.php?f=1&t=858&start=3354#p584757

Thank you for your time :)

Reply
esteban
06/09/2013 2:37am

My goodness you believe that shit! Ninoy as Marcos' successor. Come on, kung ikaw ay may-ari ng family own business kanino mo ipapamana? Hindi ba sa kamag-anak: asawa, anak o kapatid.

Tignan mo na lang ang mga political dynasty natin hanggang ngayon. Sino sumusunod sa election pagkatapos ng tatlong termino ng tatay o nanay na Mayor. Hindi ba sa asawa, o anak. Sa tingin mo ibibigay ni Marcos ang kapangyarihan ng pagiging Presidente sa matalik niyang kritiko. Common sense naman Sir! Eh di nag-alburoto si Imelda, and Imelda is the second most powerful person in the country in the 1980s and most probably the one who had succeeded FM. That will be the Apocalypse for the Philippines.


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06/08/2013 2:47pm

we can pin point any of them because aside from we have different Presidents, we also have different situations.

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06/08/2013 2:48pm

I mean we CAN'T

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Wayne Dell
06/08/2013 3:17pm

Gentlemen,

Looking at above chart for 1970-1972 with major plump, can anyone provide similar data of nearby countries or say Southeast Asia? Nobody knows if that huge impact was not only in the Philippines, probably global.

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Ric
06/08/2013 4:41pm

Sir, I've been having this debate with my wife ever since we got married (I think it even started before that) with the Marcoses and the Aquinos. She's PRO-Marcos and I'm not ANTI-Marcos, but I do believe that he really messed things up. I just want to thank you for giving me the data to support my claim that Former Pres. FM was the reason for the start of the downfall of our country. LOL

Good stuff sir. Keep it coming.

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citizen
06/08/2013 6:50pm

tama na yan! Puro lang Marcos.. sisihin si Marcos... Bakit pa pinipilit buhayin ang Patay?!!!

Ang harapin yong ngayon! Hindi umaasenso ang bansa dahil puro pinipilit ng gobyerno kunin ang mga kayamanan ng mga Marcos para sila naman yayaman..

Hindi magfocus na lang sa pano ibangon ang bansa.. Puro corrupt ngayon. 2% na lang tiwala ko sa gobyerno...

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keboin
06/08/2013 7:01pm

Finally! A decent source about our history! I just hate the lately I've been seeing alot of Marcos AVP on Facebook as if he was a hero. Now it only proves that it's a propaganda to brainwash young filipinos. :)

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pakialamera
06/08/2013 7:42pm

ay naku kasi naman kayo mga tax evaders ..eh kung magaling kayong magbayad ng tax ... di marami sanang perang nakapondo dyan....

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bingT
06/08/2013 8:12pm

Yehey! The author and I HAVE the SAME OPINION and CONVICTION! What a clever argument, a persuasive fact and a nice theory that QUITE made a dent... 'twas clearly WRITTEN!!! Woohooh!

THANK YOU Mr. Boom San Agustin for sharing us this!

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phil_md2b
06/08/2013 9:59pm

but you have to remember that when cory took over, the world bank was willing to forgive our debts, but cory said no, we would pay for the money the country did not even enjoy.. so instead of starting from zero, with cory's willingess to pay for macoy's debts, we started from below zero. so i blame cory.

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Walang lang
06/13/2013 5:39pm

With all due respect phil, no banks are willing to forgive any debts, specially if it involves billions dollars. Where did you find that Info?? please give the name of the bank who forgives debts so I could borrow a billion dollars too and then plead to them to forgive it.

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Mervz
06/08/2013 10:00pm

the peso went down because Marcos implemented the floating peso which is the cause why our exchange rate with the dollar fluctuates from time to time.

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Edward
06/09/2013 12:08am

Dear Author, I appreciate you effort to dig on the facts. This is a myth buster against a fictitious hero who shamelessly reign like a monarch for 20 years! who is in fact a shame to all Filipino people and our country's history. However I find some of the comments here very hilarious and childish by loyalists who cannot accept what is truth.

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chico ramirez
06/09/2013 1:14am

its gonna be a long uphill drive to change the country till we get rid of all the dynasties , swapang senators and all that money corrupt politiciabns.

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sam
06/09/2013 3:15am

Fidelity Contrafund FCNTXFund Family DataAdd to PortfolioGet E-mail AlertsPrint This PagePDF ReportData DefinitionData QuestionQuoteChartFund AnalysisPerformanceRatings & RiskManagementStewardshipPortfolioExpenseTaxPurchaseFilingsSummaryHoldingsPremium DetailsAnnual Turnover Category Avg Turnover Yield(TTM) Assets in Top 10 Holdings
48% 72% 0.24% 29.04%

Stock Holdings(Long) Stock Holdings(Short) Bond Holdings(Long) Bond Holdings(Short) Other Holdings(Long) Other Holdings(Short)
329 — 2 — 9 —


Equity Holdings Performance FCNTXTake a 14-day free trial. See and export the Top 100 Holdings and additional Return Periods. 123456% Portfolio Weight-20-1001020304050YTD Return %
Return as of :06/06/2013
Circle size is determined by % portfolio weight
Please note that only equity holdings with a YTD Return % are displayed on the graph.

Equity View Equity Prices
Top 25 Holdings

% Portfolio
Weight
Shares
Owned
Shares
Change
Sector
Style

First Bought
Latest Analyst
Report
Country
YTD Return

P/E

Portfolio Date: 04/30/2013
YTD Return Date: 06/06/2013
Increase Decrease New to Portfolio

Google, Inc. Class A 5.66 6,424,186 24,471 09/30/2004 04/22/2013 United States 22.23 25.00

Apple Inc 4.35 9,192,022 -940,296 06/30/2003 04/12/2013 United States -16.54 10.47

Berkshire Hathaway Inc Class A 3.80 22,342 0 12/31/2002 05/31/2013 United States 26.72 17.01

Wells Fargo & Co 2.57 63,249,593 246,500 06/30/2004 03/08/2013 United States 20.74 11.53

Coca-Cola Co 2.52 55,644,906 -241,796 12/31/2005 05/16/2013 United States 13.30 21.37

Walt Disney Co 2.38 35,374,766 -1,273,396 03/31/2006 05/08/2013 United States 26.81 19.19

Noble Energy Inc 2.12 17,484,009 0 12/31/2002 05/28/2013 United States 13.30 21.83

Biogen Idec Inc 2.03 8,688,024 -1,641 01/31/2010 05/13/2013 United States 51.12 35.09

TJX Companies 1.83 35,103,665 0 12/31/1995 03/01/2013 United States 18.21 19.08

Visa, Inc. 1.78 9,860,879 -338,500 03/31/2008 11/12/2012 United States 18.76 50.25

Colgate-Palmolive Company 1.66 13,038,229 -12,730,185 06/30/1999 05/17/2013 United States 12.28 23.70

Amazon.com Inc 1.51 5,573,240 -144,765 06/30/2007 05/06/2013 United States 6.76 —

MasterCard Incorporated Class A 1.43 2,421,024 -103,834 05/31/2011 11/02/2012 United States 15.18 24.81

Discovery Communications Inc Class A 1.36
Here something to think about ................

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Chico
06/09/2013 3:52am

Real effective exchange rates for asian countries from 1970-2002 in the link below. It seems there was a devaluation of all asian currencies except the Japanese yen from the 1970s to 1980s; not just the Philippine Peso. The performance of a country against the dollar is hardly absolute evidence for a downfall.

Cory throwing away billions in debt spent for the Bataan Nuclear Power Plant was a complete waste and shouldn't be considered a Marcos failure. Doing so is what set the country back. Don't you remember the power crisis the country was facing during her presidency? Millions of Filipinos in the Manufacturing and Industrial sector went through very difficult times with all the blackouts.

http://ars.els-cdn.com/content/image/1-s2.0-S0275531905000644-gr1.jpg

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06/09/2013 3:52am

pasalamat tayo meron tayong presidente na mahilig sa artista at ka ugali ni vice ganda. mahilig sa pogi at at maganda ktawan like dingdong dantes loves nia.

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HECTOR ALAMEDA
06/09/2013 5:46am

government and religion like oil and water needed to be contained and regulated like virus and bacteria being cultured in a lab. they breath fire and washed the bubbles in the minds of its people arguing eggs came out first not chicken. in the end its the money and power thy will be done according to the knowledge on how other people money will generate their ideologies and philosophies.

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Edmundo Santos
06/09/2013 6:26am

Since the growth is consumer led buoyed by the funds brought in by OFWs and the growth of BPOs, imagine, $20B inward remittances.That is why Shopping malls are expanding in the provinces. Imported goods also benefitted and hard money goes out. Only the few oligarch will benefit from thje growth.Hot money comes in because of this but will get out again when the economies where that money came from improves.
To sustain our consumer led growth now, conditions that will invite more Foreign Direct Investments should be created and enhanced. Like, more infrastructure for faster movement of goods and services, easy access, lower the cost of power, and hasten the process of business permits. More Regional Hubs. Our Asian neighbors get a substantial share in FDIs.Continue the strenght and good programs and projects of the past leader and do away with their failures.

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Edong
06/09/2013 9:52am

Everything has a beginning and ending...they are all finish and done nothing. Let's start again in the beginning of our step upward and save our nation and people. Greed is the main cause of the downfall of our economy. There's still time to move on and we have law of man to protect our government and people. Don't ever ever put Political dynasties they seek revenge o steal again. Mahalin natin ang ating Bayan...

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marcos was the one cause the downfall of our economy, i beg to disagree. i do not question on graph presented.. before Marcos took office in 1965, our government was in total disarray and totally bankrupt as in ground zero. the government employees, police and military and teachers and others had not recieved their salaries during the term of macapagal. and marcos immediately work out that government service became systematic and salaries of the government employees was given on time.

of course marcos barrowed money fro imf to builts infrastruture like cemented roads, dams, hydro electric facilities, school buildings, heart and cultural centers, lung center, communication facilities, mrt, widening of metro manila roads, rail ways, makati business center, building more airports, electricity up to barangays and many more. marcos money to improve our economy and life of pilipino even in the expense that the usd had gone up but the prize was good to our country today.

during the edsa 1, when cory enthroned herself in malacanang, the usd climbed uncontrolled during her regime.why?. why not dig this up and not just focus on marcos. when cory took her force presidency, everything was already in place courtesy of marcos.

united state of America has trillions in debt and keep on increasing every year, why they do not devalue their usd?. it keep on coming stronger instead. this is unfair!.

this forum is deceptive in design to misled people and create anger to the marcoses. i think this is the idea of pnoy administration who keep on pointing to marcoses as an excuse to pnoy mistakes in handling our country's affair.people should analize first before commenting and conclude that marcos was the culprit, that is unfair!.

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Kit
06/09/2013 10:55pm

yes, everything, including that debt that even marcos in his time could not even pay.

Marcos was a good president at first, but became a monster in the end.

This page is not an excuse for Pnoy's "mistakes". I believe this page is a reference point to learn from past mistakes and hopefully not repeated in the future. there's a term for "Learning from our mistakes". This is one way of learning.

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Boom
06/09/2013 11:40pm

Yes Kit. You got it. This was really meant to be a reference point. Thanks. :)

melvin
06/10/2013 12:34am

It seems that GMA started the great economy we are experiencing now. PNOY just continued what she started. Am I right? correct me if I'm wrong. :)

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leubas
06/10/2013 10:34am

YOU ARE WRONG!

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Yume
06/10/2013 11:49am

Macapagal is economist, surely knows how to manipulate economy. But never she have defeated corruption.

Wala lang
06/13/2013 5:19pm

Corruption is not that easy to defeat, Bro.. Bago mo tatalunin yung kalaban dapat kilalanin mo muna. Eh yun nga ang problema eh, magaling magtago yang mga Corrupt na yan. Kaya lets not blame the leaders for not doing so well in fighting corruption. It will take a long time to defeat that system.

Z
06/10/2013 12:51pm

Hmmm... so is just me or are you telling us that GMA and F.M are the best president the country has ever had? Total B.S.
And many people can see that there are many Marcos trivias popping up the social media nowadays. Bakit kaya? xD

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Boom
06/10/2013 10:23pm

Yes, Z. It's just you.

By the way, do you know how to read? Where in my entire article or in any of my comments did I say that FM or GMA are the best presidents our country ever had? Ikaw ang nagsabi niyan.

Basahin mo nga ulit. Sabi ko nga na (sa palagay ko) si FM ang nagsimula ng pagbagsak ng ekonomiya natin eh.

Your statement is total BS!

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ED CONCEPCION
06/10/2013 6:24pm

I am right even before that GMA must not condemned , she made the foundation, only this Penoy rode the wave....we must be proud of GMA..

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Joko
06/10/2013 6:57pm

Kahit na anong sabihin niyo, si macoy pa rin ang pinakamaraming ginawang infra struktura..........

Ikaw boom, propaganda ba ito ng mga yellow zoombies?

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Sam
06/10/2013 7:21pm

In reply to Joko,
The only reason, bakit maraming infrastructure during the time of Marcos, dahil with the money nga inutang plus the rent money for the U.S. bases kasama na duon ang nakaw, or else wala siyang maipakita sa tao kong ano ang nangyari sa pera, in the end baon ang Philipines sa utang sa IMF. In the meantime his cronies, the like of Bejo Romualdez may bahay kong saan, may malaking bahay sa kabit duon sa B.F.Homes
Bakit hindi kayo dumilat at tanggapin ang katotohanan. Magnanakaw si Marcos yan ang kanyang LEGACY

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Boom
06/10/2013 8:04pm

@Joko - Dapat lang naman nay imprastrukturang nagawa si Macoy. Kung sa 21 taon ng pamumuno ni Macoy at wala pa siyang nagawang imprastruktura, e 'di bobo siya.

Pero huwag kang magalala. Hindi ito propaganda. Sa totoo lang, ginawa ko ito para sa mga anak ko. Hindi ko naman alam na aabot ito sa ganito.

Pero ikaw, Joko... sugo ka ba ng mga loyalitsta?

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Joko
06/11/2013 1:26pm

Di ba floating nga iyang exchange rate ng peso at usd? Kung di dahil sa ninong ng amo mong Joma ng kumunismo, di lalaki utang ng gobyerno.. at saka ng rebelyon ng MNLF.. ika nga ni bapa nur, walang utang na lo si noynoy, what does that means? Iyong ginastos sa labanan ng kumunista at ng mnlf rebelyon, saan galing ang perang ginastos? Magkano ba ang renta ng us bases dati noong panahon ni Makoy? Yellow Zoombie ka pre.... ang tingin mo nasa iisa lang, di ka tumitingin kung bakit bumagsak ekonomiya natin.. pero masasabi ko lang mas bumulosok ang ekonomiya natin noong umupo na si santita cory mo, me nagrason diyan dahil sa kudeta, di mas malala ang naging epekto ng ilang dekadang rebelyon na hanggang ngayon nandiyan pa?

Boom
06/11/2013 7:37pm

@Joko - Dude, you are the epitome of Godwin's law.

kit
06/10/2013 8:53pm

@joko: kahit sinong presidente, bobo o matalino, kayang gawin ang maraming infrustructure based sa pangungutang, given na maganda ang credit standing ng bansa.

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Joko
06/11/2013 2:30pm

# @KIT - Talaga, eh bat nong panahon ni santa cory, bat mukhang walang mga infra struktura? Sabagay, mismong presyo ng galung gong eh di niya naibaba ha ha ha.......................

Kit
06/12/2013 4:34pm

@joko please read again: "maganda ang credit standing". papaano ka gagawa ng infrastructures/improvements kung bagsak na ang pilipinas, baon pa sa utang.

leubas
06/10/2013 10:11pm

DRE ANG BABAW MO NAMAN, INFRACSTRUKTURA BA ANG BATAYAN MO NG MAGALING NA PINUNO,,,,SAKA NATURAL SYA PINAKAMARAMI INFRASTRUKTURA KASI SYA PINAKAMATAGAL NA UMUPONG PRESIDENTE....DIMWIT!

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matet
06/11/2013 1:57am

@jokol, ay oo favorite ko nga sa ipinatayo yung film center ni imeldific. literally built upon the blood sweat and tears of our countrymen

Joko
06/11/2013 1:31pm

Di lang iyan ang batayan ng isang pagiging isang magaling na pangulo, BAKA ikaw ang DIMWIT mother FUCKER!

Noong panahon niya, maraming industriya dito sa Pinas, ngayon nasan? Nag alisan dahil sa komunista at taas ng koryente, ikaw ba naman ang me share sa MERALCO eh syempre proprotektahan mo ang sarili mo!

MarcosArroyo
06/10/2013 11:20pm

Is the Green Line (GDP growth) in the graph adjusted for inflation?

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jcxz
08/22/2013 8:09am

Ah yes, absolutely correct. The GDP figures must be stated as "real GDP" figures instead of nominal GDP.

Of course, you could be more strict in the analysis by adjusting the real GDP by the cyclical movements of the global economy (if the aim is compare performance). Otherwise, you'd just punish a president who's unlucky to be presiding in a generally depressed economic situation.

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jcxz
08/22/2013 8:09am

Ah yes, absolutely correct. The GDP figures must be stated as "real GDP" figures instead of nominal GDP.

Of course, you could be more strict in the analysis by adjusting the real GDP by the cyclical movements of the global economy (if the aim is compare performance). Otherwise, you'd just punish a president who's unlucky to be presiding in a generally depressed economic situation.

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jcxz
08/22/2013 8:09am

Ah yes, absolutely correct. The GDP figures must be stated as "real GDP" figures instead of nominal GDP.

Of course, you could be more strict in the analysis by adjusting the real GDP by the cyclical movements of the global economy (if the aim is compare performance). Otherwise, you'd just punish a president who's unlucky to be presiding in a generally depressed economic situation.

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matet
06/11/2013 1:53am

to all marcos loyalists, fanbois and groupies, just one thing to say: ABSOLUTE POWER CORRUPTS ABSOLUTELY

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Sam
06/11/2013 2:09am

Marcos was kind of arrogant when he was baid by George Will to declare an election. Sabi pa ni Marcos, I have the mandate of the Filipino people. Right now I will decalre an election. That happened November 1985 when he was the guest in David Brinkley Show. So, it happened he declared an election and that was his downfall. Marcos and his loyalist nagagalit yan sila, yong general na nagtago sa Canada, yong iba umalis ng bansa at hindi na bumalik, yong bumalik ngayon gusto baguhin ang legacy ni Marcos. Kahit ano 100 years from now, magnanakaw pa rin si Marcos Kasama si Imelda

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Sam
06/11/2013 8:51pm

Joko, Are you in to harass people or pakitang dimwit ka talaga.

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Joko
06/11/2013 1:35pm

Eh nanalo naman talaga di ba? Sino nagsabi na nag cheat at dinaya si santita cory mo? Iyong asawa ni gringo?

Basa basa ka ng maigi, magresearch ka di lang iyong mga pinapabasa sa iyo ng yellow media... eto puwede ka mag umpisa dito...panoorin mo https://www.facebook.com/photo.php?v=549850841731975

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Joko
06/11/2013 1:38pm

BNPP ---4,000 defects? WTF, can someone mention here 1 by 1 those defects?

Kung nag operate iyan, lumago ang ekonomiya natin dahil sa baba ng kuryente at siguradong bagsak ang MERALCO... pero syempre pangangalagaan ang interest sa MERALCO, me share sila doon eh!

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mindanao
06/11/2013 2:15pm

Thank you for the very objective and informative article.

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06/11/2013 3:37pm

It almost seems all of them saw the economy tumble - except GMA's time.

When it comes to the 1960s 40% peso drop before martial law - was this the time local business led by the Lopez-owned firms seized Meralco and other such businesses owned by Americans and others? I suspect that and similar incidents to be the cause.

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06/12/2013 1:26am

You can feel prosperity, thru the buying power of the peso to food and commodities, like fuel, kaya binabaan ni marcos and value ng peso, kasi., at that time na malakas pa ang peso kuntra dollar pero di naman ito mapunta sa kamay ng mga mahihirap na mamamayan., at sa mga depress communities., Kaya pina rami ni mascos and peso, nag pa imprinta nga paper money., dito na nagsimula..bumaba., pero nagsagana naman ang ekonomya natin.
Kapag daw walang coins o kunti land and umiikot na centavo coins sa economiya ma bagal daw and progreso.., dahil sa microeconomy naguumpisa ang pag asenso nga economiya., in laymans term.. "Affordability".. humanap si marcos ng paraan para lahat ng tao sa Pilipinas. makaka afford ng mga bilihin... thats the point pinababaan ni marcos ang peso... Mga mayayaman lang ang Makaka gamit ng Piso at that time kung di bina baan ni marcos ang peso...

Sa GDP naman dapat para malaman kung progreso ba tayo. dapat pag nag messure nya. GRoss Domestic Product/Population= Perang ng isang tao sa isang taon.

of course tataas yang graph ng GDP, syempre. dumadami ang workforce domadami rin ang producto, dumadami rin and resourcesat mga paraan ng pag popruduction taon taon, e di syempre tataas and GDP.

Young Debt to GDP ratio. yan ang magandang Indication talaga., na asenso. dahil maliit lang ang utang natin kumpara sa Gross Domistic product natin.. Tingnan nyo kay PInoy Aquino kumpara kay Marcos diba pareho...kunti lang utang.

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mr.wong
06/12/2013 9:22am

Did you guys know who made that survey or data...
-Foreign
we are in their hands.........they can control our knowledge easily...

they are afraid of GREAT LEADER that will soon to be threat to their plans...OPEN UR EYES...OPEN UR MIND

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Independent Thinker
06/12/2013 6:17pm

Honesty, the comments had gone too far from the main topic, it had gone out of proportion. The question is: "Whos to blame on our current SUFFERING!? if thats what you want to put it.

First of all, I don't care a damn thing what our media is saying about Marcos, Arroyo, and other post marcos presidents. For, i will stress, FOR it is bended for "PRO" and "CON" interests. What we should believe is from International Researches for it is done by Unbiased Professional Researchers.

So Here is my Conclusion: "this is a very long Blabber"

1. The economy has started to go down, although slowly, before Marcos. But during Marcos, the economy turned worst of worst. Well, he did built amazing projects (although some are unfinished), a very expensive projects. But it is not an indicator of a rich economy for all/most the projects are funded though borrowing, which of course created our DEBTS. During Martial Law, Oh No!, this is where and when the suffering starts. All the mismanagement, corruption, human rights violation, etsetera etsetera, had lost ALL investors confidence. If the investors want to flee out of the country, where would they go?? thats where the neigboring country steps in. They Rise while we Sink.

2. While they rise while we sink. It is not that easy to catch up. So, during Cory, with her LACK of experience and knowhow in managing a nation, it may be thanks to her advisers, it is not wise to focus on the economy if that economy could crumble back to the ground in just a snap due to cudeta or whatsoever instabilities that marcos created. So, Cory focused on regaining national stability instead. National Stability is not an easy thing!, you are not dealing with money here, what you deal is the morale of your people. And of course, corruption are rumpant, it may not be by Cory, but to other official who are milking the filipino people since marcos time.

3.When Democracy are somewhat established, FVR tried to catch up to our neighbors, but they are so far ahead!, our investors are so IN LOVE on their policies that they never want to go back. Well, confidence and trust can never be easily regained. So we had to start over, i guess from scratch. FVR for me, did just okay, but normally, corruption are still rumpant, WHATS NEW!!.

4. When our beloved "sick man of asia" is getting better and we regain some investors confidence. There goes a new problem, the asian financial crisis and terrorism. Erap did quite just fine in assessing this problem with the help of IMF, with our fiscal conservativism, we are less affacted. And with our all out war against terrorism somewhat boosted our confidence. Still, corruption are rumpant, and erap ousted prematurely because of that, poor Erap. =P

5. After Erap, there goes GMA. GMA did quite did an impressive job in economic management dispite many issues of corruption, its common, well its media and Pro&Con interests, I never listen to their blabber. During GMA, There is a tremendous increase in GDP and We decreased our reliance on borrowing, making us somewhat, just somewhat, self sufficient. During her time, there is an increase in infrastructure projects, most of them are in rural and far-flung areas, so you City-People are not aware of it. At this time, we are regaining investors confidence but still hampered by negative medias. As most economist say "Progress are not quickly felt by the masses for it is first felt by the elite".

6. After GMA step down, negative medias also stepped down, as you can see, media is SO PRO to Pinoy, you all noticed that. Since negative publicity is not an issue, and with Pinoy's commitment to fight corruption as they claim to be, this is the time we are fully appreciated. Thats why we bacame an investment grade, considered the Rising Tiger, and whatsoever Praising Mumble-Jumble. And by this time, most of the projects that GMA started are completed during Pinoys time, most of her reforms bore fruit during Pinoys time. So the fact is, the economic progress we see today (thats what the media said) really starts with GMA and Pinoy are just claiming the fruit of GMAs labor.

Long term short:

1. Marcos created the problem.
2. Cory is persevering to fix everything but not enough.
3. FVR is trying to catch up but they are so far ahead.
4. Erap is holding up against the crisis.
5. GMA made the big jump but pulled by negative media.
6. Pinoy claims GMA's labor and raised up high by positive media.

Thats the story of our leaders ....... and Please don't listen to media, They are the One of the Top-Ten Prefessional Liers next to a Lawyer.

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PINOY TAYO
06/12/2013 10:53pm

From a leading Asian economy in the 60's Marcos made the Philippines the SIC man of Asia. Even during his last days he printed fresh money which was done by Central bank which was made his personal piggy bank. He brought crates of cash when he fled to Hawaii. Corruption Perception Global report in 2004 of Most CORRUPT leaders listed 01 Suharto of Indonesia ... stole $35 billion 02 Marcos of the Philippines ... stole $10 billion 03 Seko of Zaire ,,,, stole $ 5 Billion...................10 Estrade , Philippines stole $80 million in just 3 years as president....... Nobody wanted to lend the Philippines money to rebuild our economy after Marcos. Pres. Cory was left with a negative $28 billion loans by Marcos & cronies on ghost projects & kickbacks. Among them was the multi billion dollar Bataan Nuclear Power Plant which was found to have 4000 defects and hounded Westinghouse & Marcos with corruption. Under the PNOY Administration we now have $340 billion surplus, 7.8 growth surpassing China. From a corruption perception index rank of 145 during the Marcos era, Ninoy improved it to 105; building trust & confidence, investors pour in investments, the strategical profiling of our students to meet employment demands abroad, there are now more OFW's in the technical departments, medical & of course the BPO's.... Ten more years of cleaning the government from the remnants of corrupt officials left in the Marcos, Arroyo, Estrada administration, then we are good to go. Today Phils. has a population of 105 million people, $340 billion, and a per capita of $4,300......http://www.infoplease.com/ipa/A0921295.html

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Joko
06/13/2013 6:46pm

can you list down those 4,000 defects please...............

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Walang lang
06/14/2013 1:16pm

@JOKO: being the Bataan Nuclear Power Plant located near the major fault line is a reason enough for it not to go operational, no need to enumerate 4000 defects. Eh kung nag operational yan at lumindol ng malakas yang fault line na yan, Eh SABOG kayong lahat, pati na ikaw.

Please be intellectual and impartial of your comments JOKO. Its true BOOM opened a can of worms, but most are gummy worms, you are the only earthworm.

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06/13/2013 2:15pm

Oooh, you've opened up a can of gummy worms with this article, Boom! :D

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06/15/2013 1:01pm

Can of worms indeed, and the Marcos loyalists they are.

I was 12 when Marcos left. Good riddance to him. He was a nightmare.

During Marcos time, I planned of joining the leftist movement if ever he will still be president if I turn college.

My mother would literally tell me to hush or keep quiet everytime I say something negative against Marcos.

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carl
06/15/2013 12:12am

I voted for GMA. Thank God she took measures so that FPJ wouldn't take over, he would be another Erap.

Voting should not be for everyone, only the taxpayers. Forget the uneducated people who sell their votes or believe those overplayed commercials.

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Paolo
06/15/2013 1:43am

I'd also suggest you add the following in your analysis
1) inclusion of Diosdado Macapagal in the data profiles since historically, it was with the economic breakdown and claims of corruption during the first Macapagal that Marcos won his first election.
2) Oil in the world market as a 4th parameter as world economies went topsi-turvy during the OPEC crisis. Oil prices are good indicators of global economies.

It's also noticable that the Presidents with claims of corruption have up-trends in the Debt to GDP ratio, Yet the two Aquino's are consistent in bringing down the ratio at the start of their terms.

The non-Aquino heads seems to follow a "borrow what we can to develop the economy" while the Aquino's seems work with what they have.

How i read this then shows the other leaders who fill their pockets in the first half of their terms using debt money and doing a catch up recovery so that they end their term with a supposedly clean name.

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pbcates
06/15/2013 1:00pm

Well, one reason kaya mayaman ang pinas noon kasi (1) fresh pa tayo sa independence ng America.... may mga funds ang Gobierno para patakbuhin ang ekonomiya ( parang starter funds sa monopoly game) at saka ( 2) may mga funds din tayo sa pag rebuild ng ating bansa after WW2. Siyempre, the funds will not last long... thats why we observed a downward trend sa ating ekonomiya..... We ended up spending and spending...... without money coming in. By the time Marcos took power, the funds were already dwindling. Marcos or Not that downward spiral was eminent, and there was nothing or little that could be done to arrest it. The communist problem was the issues...... compunded with the MORO conflict plus Public unrest. Martial Law had to be done. Yes it is true nalubog tayo sa utang during Marcos time, but those loans were meant to be repaid when the Philippines evetually recovers. Puro nationalistic programs ang pinatupad ni Marcos for self reliance.... para maging independent tayo in terms of everything. To name a few, we developed our own rice, we started manufacturing Engines (delta motors), TESDA was created to train the populace. etc. Naisip ni marcos mag invest heavily sa transportation infrastructure and construction para may magamit tayo sa kinabukasan...... AFP was fully armed, because of concessions we had with the US military thanks to the renegotiation of the Bases treaty under Marcos hence we had a Security Umbrella that shielded us from china and russia. Should I state more instances? Si Cory Aquino, ano nagawa? Did she really do anything to better the country? Yes, her cronies immediately worked on the constitution to gurantee them among other things power and wealth.... 6 years presidential term daw... Tapos, pinatay ang AFP dahil takot sa Coup. Pinaalis ang mga amerikano dahil daw "tuta" daw tayo ng mga kano? Anong klaseng pag iisip yan... ? Practically lahat ng plano ni marcos in place for the future ay Binaliktad ng cory. Ang bataan power plant, defective daw kaya hindi inactivate. Mga project ni Marcos, di daw makatarungan..... unbelievable....

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BastaMakaMarcosTanga
06/15/2013 4:47pm

You made a very desperate defense of Marcos... Very poor grammar too... Obviously youre a person not privileged with a good education...Kaya ka maka Marcos e...

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pbcates
06/16/2013 4:52am

In reply to :BastaMakaMarcosTanga.
So what is the point of your responding to my post then my friend?
Was it to correct my grammar and do a spelling check? OR to announce to the world that you're the only one who blessed with an intellect the same size as a pea? Really..... Im just curious. "pea wit".

pbcates
06/16/2013 6:22am

In response to: BastaMakaMarcosTanga
I just came to a realization: F&CK YoU..... and your tanga mentality. (Why did I even come here to bicker with a dimwit like you.) I dont care about your demented anti-marcos mentality. Although sometimes I always think , "what if ? "
Why bother? Because Marcos had so much potential to improve the country.

Its people like BastaMakaMarcosTanga who RUIN everything. People who think they know everything.
Question to you: Why don't you put your shit together and figure out how to run the country properly?

Don't get the wrong impression but, I have no quarrel with the person who authored and shared this article. (Kudos to you sir!)
Reading the comments, I'm totally flabbergasted by some of the folks' reactions.
The bottom line is, the FILIPINOS should be blamed because that's the reality. Look in the mirror.
Maybe the Philippine Islands were never meant to be independent after all. Maybe Islands should have remained under Spanish or American control..... then things might have been better ( i.e. Guam, Puerto Rico, etc.)

Then again what do I care, Im happy where I am now- earning $175K a year working at Lockheed Martin. Have a sailboat, 2 houses, with a fantastic view of the Shenandoah Valley. Have an excellent credit rating and Living happily with the Wife and two lovely kids.

So to you BastaMakaMarcosTanga ... Wake up and smell the Payatas land fills, ......and shove your grammar and so "called" education....... (UP YOURS)

By the way, Im not a Filipino=== But I was in the Philippines for 17 years.
But I do try to maintain my typing proficiency... both in English and Tagalog.

Have yourself a nice day!

Yes
06/15/2013 4:58pm

"By the time Marcos took power, the funds were already dwindling. Marcos or Not that downward spiral was eminent, and there was nothing or little that could be done to arrest it. The communist problem was the issues...... compunded with the MORO conflict plus Public unrest. Martial Law had to be done. Yes it is true nalubog tayo sa utang during Marcos time, but those loans were meant to be repaid when the Philippines evetually recovers" ====> hahahahah

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leubas
06/16/2013 12:09am

ano ba tlaga " one reason ang opening statement mo tapos my No. 2 ka, tlaga ang mga Marcosin Tanga!

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pbcates
06/16/2013 5:16am

In response to leubas:
So ikaw pala ang grammar police dito. Sorry officer, hindi ko alam na may formatting requirement dito. ----- Kaya hindi umunlad ang Pinas dahil sa mga taong may attitude na katulad mo. Lahat napapansin, pero hanggang doon lang.... walang follow through. My friend, here's a quote for you: "If you have nothing to say, say nothing" - Mark Twain. Ponder on it.

annodoel
06/15/2013 6:00pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !?
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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pbcates
06/16/2013 5:41am

In response to annodoel:
Q: how do you explain that he (his family and his cronies) became so rich?
A: This people are Businessmen. DUH.... they already have the money. (same thing with Cory or Estradas Cronies) Don't have to be PhD to figure that out. Ayala, Lopez, Cojuangco et al. They have the money, it doesn't mean that they stole it.

Q:Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation.
A: You cant compare the Philippines to Singapore. Singaporeis a city state. Heck,they even broke away from the Malaysian Federation because of different Ideologies! If one has absolute control over a territory (i.e. Lee), he is able to do whatever he wants to better it. In the case of the Philippines, there are too many islands and a larger land area, too many ethnic groups, lots of opposing forces and too much politicking. Too many thinkers thinking tangentially.

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leubas
06/17/2013 10:02pm

in your response to my observation, you mentioned that im the grammar police, followed by supporting commment that you dont know that there is a formatting rule that is required of you, first let me point out that i did no grammar correction in your reply,, then i will go back to my initial observation,, ano ba tlaga? first grammar correction then you shifted to formatting,,,precisely thats what makes you stand out as a bubblehead,,, you lack consistency my friend, and that will show if the person does not fully comprehend what he is reading..Dimwit!

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annodoel
06/15/2013 6:01pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waaw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !?
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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annodoel
06/15/2013 6:02pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waaw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !? And by the way, some 1200 people lost their lives, or more: yes, THAT made it even more poor.
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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annodoel
06/15/2013 8:23pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waaw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !? And by the way, some 1200 people lost their lives, or more: yes, THAT made it even more poor.
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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annodoel
06/15/2013 8:25pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waaw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !? And by the way, some 1200 people lost their lives, or more: yes, THAT made it even more poor.
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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annodoel
06/15/2013 8:25pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waaw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !? And by the way, some 1200 people lost their lives, or more: yes, THAT made it even more poor.
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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annodoel
06/15/2013 8:25pm

To pbcates
If (as you claim) the country was already poor when Marcos came into power, how do you explain that he (his family and his cronies) became so rich? Where did he have the money to pay for the diamonds of his wife? (that is not hear-say: evidence in the Central Bank) .Where did the wealth of his cronies come from? (evidence: the mansion of Enrile I saw on TV, including a church! waaw!) As you claim, this was supposedly a poor nation in 1972 when martial law was proclaimed !? And by the way, some 1200 people lost their lives, or more: yes, THAT made it even more poor.
Do not believe what they say: look at their lifestyle! A "good" dictator (like Lee in Singapore) would show more concern for the nation. What they have in excess, they have stolen it from their felllowmen (St. Ambrose) . In other words, they are THIEFS.

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pbcates
06/16/2013 5:09am

In response to annodoel:
OMG.......I cant believe everybody took my response up front and took it personally. Mind you, without even reading in between the lines! (If this type of mindset goes on, nothing will happen to this country.) Is this what has become of the citizens in this country? So petty and narrow minded! Case in point? Manila Mayor Estrada. Was already a President. Was Criminally charged with corruption (plunder). Found Guilty by the courts. Pardoned by Arroyo. Ran for Mayor. Won the seat. (can you believe people actually voted for him, regardless of what he did) Now we are back to square one. -------- then we start the blame game over again. Its a never ending cycle.

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BastaMakaMarcosTanga
06/16/2013 6:50am

Really classy of you to brag your salary and possessions in an attempt to make us think that your the better person.. Haha.. All about the money eh? Wonder what kind of wife you got and what values you teach your two kids... Hahaha...

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leubas
06/17/2013 7:47am

heheheh he is not a pilipino daw! but the way he use the English language and flaunting his imagined wealth shows where this bubblehead came from!

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leubas
06/17/2013 7:57am

hahahah he is not a pilipino daw o! but the way he flaunt his imagined income and assets and use of the English language shows where this Bubblehead came from

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BstaMakaMarcosTanga
06/17/2013 8:50am

Obviously, the guy is a fake. But even if his claimed wealth is true, this sorry loser has cheap morals and cockroach intellect.

RR
06/17/2013 2:23pm

atleast nka isip c marcos kung pano nya. e angat uli ang pinas. yan ay ung bnpp. kaso nga lng hindi pinag patuloy ni corymaw. kaya don na unting unti na babagsak ang pinas..

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Wala Lang
06/17/2013 7:26pm

Reading most of the comments made me realize that it has gone beyond the threshold of being pointless.

So many words like "dahil ni", "dahil kay", "kung hindi dahil ni", "siya kasi", .............. whatever!! ....

Blaming the past will make the past still stays at the past. Blaming is pointless. Learning from it is the most fruitfull way, so that we can prevent it from happening again...

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06/20/2013 11:24am

Marcos loyalists EXCUSE. It was the OLIGARCHS!

I knew you watched that video created by the son of the evil dictator.

The video appeared that it was the Oligarchs who caused the downfall, and making the dictator as innocent and the victim.

Wag kayong magpaka tanga! Gusto lang nilang bawiin ang perang naiwan nila!

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NoyPi
06/20/2013 12:01pm

magandang araw po..ako poy nag tataka lamang, sa magandang ipinakikita ng ekonomiya ng pilipinas sa kasalukuyan,bakit po ba pinag pipilitan ninyo na ito ai katas ng mga nagawa ni CGMA (Gloria)?? e kung ito nga ai gawa at sinimulan ni GMA bakit nuong panahon ng kanyang panunungkulan ai d nya magawang itaas ang GDP growth ng bansa kahit hindi election period??

lilinawin ko lang po para tayu po ai magising sa katotohanan,ang magandang takbo po ng ekonomiya sa kasalukuyan ai bunga ng pag hihirap ni Pnoy na maiayus,maituwid at malinis ang lahat ng dumi sa gobyerno,na ginawa nung mga nakaraang pinunu,higit ai ang malalang korapxon na nangyari nung panahon ni GMA.,kaya eto ang bunga ng paglilinis na ginawa ng administraxong Noynoy Aquino at ng mga pilipino, naging maganda ang takbo ng ekonomiya ng bansa.
wag po tayung magbulag-bulagan sa katotohanan,bagkus ai harapin natin ang kasalukuyang nagaganap sa ating lipunan at sama-sama nating tahakin ang Tuwid na Daan, ng sa gayun ai mas mabilis nating makamit ang kasaganaan.kaginhawahan at kaunlaran ng bansa...un lang po at salamat...

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Mar
06/22/2013 11:45am

BNPP with 4000 defects?
If that is true, why nobody filed charges against Westinghouse, the contractor who built BNPP?
BNPP sitting in faultline?
The whole Japan sits in major faultlines and there are more than a dozen nuclear power plants there!

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yke
06/25/2013 4:32pm

so what is it now? whats can you see in this graph that shows how our country move on? to progress? to solve our basic problems? this is where Filipinos are good at. Pointing Fingers. Just like PNoy, Hayzzz... we are going backwards where other countries looking how they can move forward...

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yke_idiot
07/27/2013 10:05pm

yeah idiot... how can the country move on if it doesnt learn from its mistakes... i'm no pnoy lover there are many acts he did as president i dont like but please how can you prevent another tyrant from coming back to power if you dont dissect the reasons why such evil people rise to power... move forward?? you dont even know where we came from

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Boom San Agustin
08/09/2013 6:11pm

Agreed! :)

yke
03/02/2014 2:33pm

Hey yke_idiot, YOUR a big IDIOT! I am not saying "NOT" learning from previous mistakes. Please look back in my previous comment which part of it I was saying not to learn from previous mistake? What I am asking is how can we translate this to solve problems, economic growth, progress! stupid!
Ok, let say while your so called "dissecting" is there (I dont know if they are really doing it since I cant see any changes until NOW even after that EDSA '86) can't they do something also with other Problems? Where are the JOBS? all time high ang unemployment rate of the Mahal kong Pilipinas! 27.5% at Q4 2013, this will be more after new graduates comes in March. GDP and and other indexes correlate with the number of people hungry right now?
So, What have they dissected so far? have they implemented solutions to what they dissected? 2 Aquinos now in Power and still the Marcoses are still free stupid? Look where are country right now. Dynasty is still there. Income inequality is still there. Urban poor is still there. Crime is in the rise. Power Blackouts! red tape is still in existence! etc...

yke
03/03/2014 2:34pm

Hey yke_idiot, What the hell are you talking about stupid!.. Did I say in my comment NOT to learn from Mistakes??? Kung d kanaman tanga tsaka KSP, basahin mo ulit comment ko, I was asking how these graphs can do to move on for progress, and solve basic problems...
From your comment you seemed gave up the idea of moving forward. What have the govt dissected so far? cause what I see now everything still the same after the people power, political dynasty, unemployment, hunger, street crimes, etc.. parang kang bading na iniwan ng syota mo na d maka move on...
The Country can "Dissect" while moving forward d ba?

yke
03/03/2014 2:35pm

Hey yke_idiot, What the hell are you talking about stupid!.. Did I say in my comment NOT to learn from Mistakes??? Kung d kanaman tanga tsaka KSP, basahin mo ulit comment ko, I was asking how these graphs can do to move on for progress, and solve basic problems...
From your comment you seemed gave up the idea of moving forward. What have the govt dissected so far? cause what I see now everything still the same after the people power, political dynasty, unemployment, hunger, street crimes, etc.. parang kang bading na iniwan ng syota mo na d maka move on...
The Country can "Dissect" while moving forward d ba?

06/27/2013 2:16pm

We need more blogs like this, I am getting sick and tired of all these Marcos Loyalist shits trying to cover up "Apo Ferdie's" stupidity and trying to change history. I am writing one myself, and will use some of your sources to come up with more economic figures ...

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ProudFilipino
08/13/2013 7:35pm

Don't just throw numbers but try to reason out also these numbers.

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ProudFilipinoAlso
08/20/2013 2:22am

Loyalist Troll! The numbers are real. The author already gave his reasons. How about you? What are your reasons for the numbers?

John Baltazar
07/05/2013 2:56pm

You cannot based your reactions at the charts now. If there is a financial growth going on. today, it due to how Philippines is riding through the world's economic growth. Corruption was deeply rooted during the MARCOS REGIME and to stop this from branching and mutating into a different form, we Filipinos should be vigilant in fighting this cancer that is growing in our nation and the one way to stop this, is we should always choose leaders who have strong conviction to change the country for the good, But it is always hard to make this choice of who should lead the country as many politicians have been intoxicated by the corruption money they already have and they are promising us of something while they are intoxicated. So be vigilant on the next election and help in your own little ways to stop this corruption. Each and every effort to stop corruption, will be a cure. It might take years to stop it but every psaitive step will definite reflect a different direction towards progress and development. There is still hope that Philippines can still shine and let this hope live in our hearts. MABUHAY PILIPINAS!!!

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07/10/2013 12:57pm

Marcos "definitely" is the reason to Philippine economic downfall followed by "unwise" decisions of Cory Aquino. It was getting better during Ramos, unfortunately we are NOT blessed with good presidents until Noynoy. The time of Erap and Arroyo has been more than a decade of tumultuous economy. What a shame. We have been ruled by almost consecutively corrupt and unwise presidents.

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Maxene
07/10/2013 2:21pm

i stopped after reading "...good presidents until Noynoy" and why is he considered good? his works has all been irrelevant with the success we are nurturing now..they are all works of the previous administration which were all halted..just to use as an example he settles to approve a law changing "Pilipinas" to "Filipinas" rather than having a more needed law..

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wavm
07/26/2013 9:08pm

ang haba ng comments... mag comment din nalang ako...

bow...

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08/06/2013 2:02am

The graph if it is correct, pictures the vivid profile of the Philippine economy from 1965 to 2011. I encourage everyone to inform the new generation of how the former dictator damaged the Philippine economy. This kilometer long list of comments are well thought of. Many Marcos loyalist are shooting up and posting in the facebook twisting the truth. Show them these facts to silence them. They want Bongbong Marcos to run and win the 2016 presidential election.

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ProudFilipino
08/13/2013 7:29pm

What then if Bongbong Marcos runs as a president. I thought we are in a democratic country. Let him be for it is his rights. Just seeing his profile, he has done a better job compared to the profile of pur current president today.

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08/07/2013 8:51pm

nana

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aliehs
08/08/2013 5:46pm

actually, i agree with u mr. boom...

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Boom San Agustin
08/09/2013 6:08pm

Thank you Sheila. :)

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leah
08/08/2013 5:54pm

my report is all about the debt of the philippines,and base on my research i found this one "the increase of the Philippines debt is attributed mainly to Ferdinand Marcos and his administration.''
actually,marami din naman siyang nagawa sa ating bansa like yong kalsada natin... :)

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ProudFilipino
08/13/2013 7:23pm

Tama ka, may dahilan naman ang mga debts na ito eh. During the time of Marcos he started rebuilding Philippines. He built infrastractures than all presidents combined and promoted arts and nationalism. Hindi niyo ba napapansin na karamihan sa mga inprastrakturang ito ay nakapangalan sa Pilipinas. Philippine heart, philippine lung, etc. at hindi Marcos heart center, lung center or ninoy aquino international airport.

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ProudFilipino
08/13/2013 7:16pm

Nakakatawa lang iyang mga nagcocomment na ninakaw ang pera ng Pilipinas, corrupt ang mga Marcos and etc. without even considering that Mr. Marcos was willing to give up almost all of his wealth for the Philippines. Search niyo Last will and testament ni FM, dagdag niyo na rin ang "From the lips of a dying president" and recently ang episode ng Powerhouse ni Mel Tianco featuring the former first lady.

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ProudFilipinoAlso
08/20/2013 2:28am

That's just BS propaganda. If Ferdie-boy really wanted to give his money to us, we would have had it already. Stupid troll!

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Teemo
11/14/2013 3:39pm

Well if he had the resources all along, and if he really loved his countrymen, bat pa sya nagbigay ng conditions to give up his wealth? Kung mas ini isip pa nya ung kung saan pa sya ililibing and how he would be remembered after he dies, then his intentions for this country, and his integrity is very questionable, if not rotten.

greggy
08/19/2013 9:31am

maari po ba magisip nmn po kyo,? tingnan nyo nmn ang lagay ng economiya noon. saka nung umupo yang c cory. ano? s tingin nyo gumanda ba? mga iba puro panira ke marcos keso mgna2kaw dw, pinapatay c ninoy dw.ano b lahat un puro pratang,alang npa2nayan. kung 22usin mag ina ung nging presidente bkit ndi ipag pa2loy ang imbestigasyon s pagkamatay ng ama,kasi ndi nla kya p2nayan,dhil alm n nila kung ang mastermind.dhil maccra ang pamilya nila pag nalaman ng mga tao. kya nabbrainwash ang taong bayan e. mula ke cory gang ngaun khit pag sama samahin mo mga nging presidente kumpara ke marcos. alang binatbat. kc sumobra ang pgi2ng malaya ntin, at yan ang gus2ng gus2 ng mga negosyante., 2loy ang kawawa mga mhi2rap n gaya ko. kya 2loy halos dayuhan n ang nag ma2y ari ng pinas. kya bgsak ng mhi2rap squatter. sa isang pamilya kung suwail anak kelangan ng disiplina pra umunlad ang buhay nya. kung paba2yaan mo itong malaya at nga2wa ang gus2 nya kalaboso ang bgsak nya. ganyan ang nangya2ri s lipunan ntin ngaun.

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Boom
08/20/2013 2:01am

Simula kay Marcos, wala namang mahusay na Presidente. Pero, kay Marcos pa rin nag mula ang pagbagsak natin. Itinuloy nalang ng ibang sumunod na Presidente.

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err
08/20/2013 2:26pm

Keep in mind that the dollar vs peso at Marcos time is more worth than what a dollar is worth right now.

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say
08/20/2013 8:51pm

kaloka may naniniwala pa pala kay marcos. Huwag namang mag tangatangahan ang nagpost nito. Yan lang ang masasabi ko.

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Boom
08/21/2013 6:07am

Clarification lang, Say... Are you talking about the article I wrote? Kasi, kung babasahin mo, sinabi ko nga, na ayon sa mga numero, malamang na kay Macoy nagumpisa ang pagbagsak ng Pinas.

Pero, baka naman iba ang itinutukoy mo. Again... clarification lang ito ha. Cheers!

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Juan dela Cruz
08/21/2013 12:42am

OO sobrang galling ni Macoy lalo na sa mga taong hindi namatayan at naalipusta ng Martial Law... =(

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cool pink
08/21/2013 9:39pm

so much have been said..and am sure this will never end..one thing is sure..we don't deserve yet a better president...

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jcxz
08/22/2013 8:04am

FX is a lousy indicator in this case. A mere glance at the FX chart tells you that sudden ups and downs in the rates in the Marcos period aren't comparable to the current period (technically speaking, the time series is not stationary).

This is because FX policies in the different time periods are different. During the Marcos period, the use of FX was tightly controlled by the government through the Central Bank of the Philippines (CBP) as the supply of foreign currency was scarce. Hence, "official" exchange rates must be looked at with suspicion.

Actually even exchange rates up to the Ramos administration are not directly comparable with the current FX situation --- witness the massive devaluation of the peso during the Asian financial crisis that increased the local currency's sensitivity to regional issues.

The use of the other figures --- debt/GDP and GDP is an improvement over simplified FX charts. However, the use of debt/GDP is also suspect because of the recent debunking of the Reinhart/Rogoff paper showing that a high debt/GDP ratio does not cause slowdowns in GDP growth.

Instead, the current understanding is that the most relevant figure would be foreign debt/GDP, where foreign debt is defined as debt denominated in USD or other third currencies. This is the debt that greatly increases the fragility of the domestic economy.

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Studyante
08/23/2013 3:48pm

Sa graph na ito at mga comments parang naliwanagan na ako, Simula noon akala ko si Marcos na ang pinaka the best na nging presidente ng pilipinas dahil na din sa mga comment nang mga tao skanya kesyo ganito ganyan kase nga daw mayaman ang pilipinas noong president pa sya. So yun siya pala ang dahilan kung bakit bumagsak ang pilipinas. Ngyong tinanggal na ang PDAF ni Pnoy, ano satingin nyo ang mangyayare sa pilipinas? Ofcourse hindi na makakapag corrupt ang mga politicians ang tanong ba may tatakbo paba sa election dahil dito. Ano na kaya ang mangyayare sa pilinas kase alam naman nanaten na hindi corrupt si Pnoy kaya sana umunlad na ang pilipinas.

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Jojo Aquino
08/24/2013 3:50pm

malinaw sa chart who caused our downfall. sa ganoong kalaking pagbagsak kahit sino pa ang sumunod na presidente mahihirapang makabangon.

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Eric Clarke
09/21/2013 9:32pm

If any Presentant hast to be blamed for the current down side of the nations Economic situation hast to be currant presentant because why did people vote for the presentant reason hoping they do good and fix things up not letting the problems get worse.

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marina
09/22/2013 9:11pm

I agree to that P-noy is just riding on what GMA has started to improved our economy, i am from Cagayan de Oro ,only in GMA's time that Cagayan de Oro and other parts of Mindanao were cemented, she build new bridges and cemented the road from Cagayan to Davao to make the way shorter, Mindanao improved and enjoy the new roads and bridges , the Roro and the airports were all build during GMA's time. I hope P-noy will thank GMA for what she started because he rip all the fruits of her labor. Our Loan to the World bank were paid during her administration. I Salute GMA for what she has done to our economy!!!!

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rikitiktak
10/12/2013 6:32pm

Downfall ba kamo? Kaya pala #2 tayo sa ASYA. .Pasalamat nga kayo kay Pres. Marcos .Dahil kung wala sya wala ang LRT 1, NLEX/SLEX , Manila International Airport - NAIA at marami pang infrastructure. . .Sa kay Cory yung downfall ..Sana hindi lang kayo sa libro nag saliksik ng History kasi kamag anak system yan. pinapabango ang mga Aquino. Hawak nila pati media gaya ng ABiaS CBN

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Vinoy
10/13/2013 12:49am

Gago! Nagbabasa ka ba? Saan dun sa sinulat na pinuri si Aquino. Sinabi lang na kay Makoy nagumpisa ang paglubog. Nag #2 tayo sa Asia nung umupo si Makoy pero ano ang ginawa nya? Pinalubog tayo. At kahit na wala si Makoy at kahit sino pa ang presidente nun, magkakaron pa rin ng LRT at NLEX at SLEX. Baka pa nga doble pa ang progreso kung hindi naging swapang si Makoy.

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Neutral
01/11/2014 11:57pm

Bobo ka ba? Tignan mo nga kmusta ang Gobyerno ngayon kumpara sa panahon ni Makoy. .Putcha pati ang mga bunkhouse overpriced. . .parang tirahan ng baboy. .

MarcosArroyo
10/13/2013 12:18pm

Clarification: Bago pa umupo si Marcos, number 2 na ang Pinas...

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Vinoy
10/13/2013 11:58pm

Oo nga pala. Tama ka.

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Dolce vita
11/17/2013 5:30am

You are on to something Boom. The data is compelling, your analysis plausible. Looking forward to more. Helps us to connect the dots.

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Dolce vita
11/18/2013 3:51am

Boom, another thought. You mentioned you would be looking at other confounders such as population and corruption in your next analysis. I would be curious to see poverty indicators such as national poverty levels and income disparity (gini coefficient). We know overpopulation is closely tied in with poverty. I also think a rise in GNP has no immediate effect in reducing poverty,specially when there is great disparity among rich and poor. I am trying to understand if any president ever managed to raise the poverty level. Thanks.

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Dindo
11/22/2013 5:04am

Yes,given that downfall started during Marcos watch. I'm just wondering why we had not a status quo right after Marcos,instead,it continue to spiral down.

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Bobby Galvez
12/23/2013 10:01pm

Most economist will disagree with this analysis because foreign exchange rate is not the correct measure of the strength of the economy. Indeed, there will even be economists who will argue that one of the reasons why the Philippine economy failed to take off is that the Philippine peso was too overvalued. If the peso is too strong, it will make exports too expensive and imports too cheap. If our exports are too expensive, Filipino industrialists will be content with producing for the local consumers instead of competing internationally. A strong peso also makes the economy unattractive to foreign investors. thus creating more unemployment.

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Curious Student
12/26/2013 2:07am

Well, this is a good topic to be discuss about. Shall we only narrow the topic on the Economic stability of the country during the the Marcos' Administration?
In my own opinion, stable economy should have a direct impact to the low class Filipino. We can say that our country is having a good economy condition nowadays, but if you ask a poor Filipino regarding the so-called "GOOD ECONOMIC" condition; they would probably say that they don't feel it.
One time, I ask my mother about this topic and she said that during the Marcos' Administration all products were at cheap price whereas even the poorest Filipino can afford.
Comparing to the Administrations of today, They keep on saying that our economy is on its continuous process of increase but contrasting to it is that the poorest Filipino... barely to buy foods to eat.

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HindiDilaw
01/11/2014 11:52pm

Tengene. .Para kayong si PNoy Puro Sisi. .Ang mga ginawa ni Marcos noon ay npapakinabangan pa natin hanggang ngayon. . .Gaya ng Manila International Airport kaso pinalitan ang pangalan na Ninoy Aquino International Airport. .kamusta na ngayon??

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John Rex Antonio
01/21/2014 2:12am

Mali po yung chart. dapat USDPHP and not PHPUSD.
sample lang: today 1USD = 45.12PHP is 1PHP = .022USD.

kaya po pababa yung line ng chart dahil baliktad.

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ELCCIII
02/28/2014 4:33am

tama un chart.. ndi dapat pataas kasi ibig sabihin... mas mahina ang peso against the dollar... :) if you show it as an upward trend... it would mean that the peso increased in value... but in reality... it only weakened against the dollar

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John Rex Antonio
03/01/2014 12:31am

Exactly... you described what is happening... my point in saying na baliktad sya is kung pano sya pinresent which is too malicious. Try mo iplot yung ng presidents. Eto USD PHP. http://bit.ly/1mKEQUx
Yes the decline started during Martial Law pero makikita mo yung drastic na pagdecrease ng value ng Peso after Marcos.

John Rex Antonio
03/01/2014 12:31am

Exactly... you described what is happening... my point in saying na baliktad sya is kung pano sya pinresent which is too malicious. Try mo iplot yung ng presidents. Eto USD PHP. http://bit.ly/1mKEQUx
Yes the decline started during Martial Law pero makikita mo yung drastic na pagdecrease ng value ng Peso after Marcos.

Don
01/21/2014 11:30am

It may be the downfall of the peso, but before MARTIAL LAW, there are insurgencies going on in the country. with all due respect its not the MARTAIL LAW that made our economy fall during the marcos regime. its the insugencies of communist, and the political issue being brought by Mr.Aquino. investors probably didn't invest or even pulled out their interest in the Philippines. Check and Balance is the key to issues like this. having an open mind and looking at all the angles and possibilities.
You can also check during Pres. Ramos term that he sold almost all of gov't property and interest that made the Phil. economy look healthy (because we have cash to spare). but in reality its a move that in the future will give the country a backlash.

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Jeric
02/27/2014 11:13am

ALL OF THIS ARE ALL LIES WHEN MARCOS REGIME OUR COUNTRY CALLED THE TIGER OF ASIA AND WE ARE THE STRONG COUNTRY AND RICH BEFORE JAPAN ALL FILIPINOS SHOULD THINK THRICE THINK THINK THINK WHO IS BETTER PUT ON THE PRESIDENT ON 2016 BONGBONG MARCOS 2016 PRESIDENT! WE NEED CHANGE WE NEED RESPONSIBLE LEADER! BBM2016

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Marc Van
02/27/2014 2:58pm

Duterte na nman tayo! :)
You want a Singaporean-like president? I think Mayor Rodrigo Duterte of Davao fits for the position. #Opinion.

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WillyJ
02/27/2014 7:17pm

It will be interesting to study population side by side with corruption. I am eagerly awaiting your post on that. Since you are already studying population,I suggest you include Total Fertility Rates (TFR) as well. Thanks.

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02/27/2014 10:47pm

Magagaling tayong lahat, me alam akong dimo alam at may alam kayong diko alam, ganun lang yun. lahat naman tama ginawa ng mga naging leaders. parang puzzle lang yan..mali lang ang pagkasalansan hehehehe.

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Writhing citizen
02/27/2014 11:47pm

Thank God for posting this but the method you used is wrong.

Like every decent Filipino who descended from the natives of Negros and the Western Visayas; I curse Marcos for economically and politically sabotaging our province which resulted to thousands of deaths and documented cases of extreme malnourishment. In our home province alone, over 200 coffins for children were unearthed during the Aquino administration. These children died of malnourishment during the Martial Law and were placed in temporary burial sites.

I am not a Marcos fan but I would like to point out that the 40% decrease in the FOREX before martial law occurred because the US-Philippine treaty on foreign exchange assistance expired. The law permits that the one US dollar will be equivalent to two Philippine pesos, this was done to help the Philippines recover from the second world war.

Yes, the Marcos regime was a very ineffective one in terms of economy. In truth, they turned the country into beggars and if you actually read transcripts of Philippine requests in the US embassy during the Marcos regime; you will observe that the regime thoroughly requested for US AID donations like food and a staggering increased requests for rice from Thailand. In addition, millions of dollars were requested by the regime for nutritional help. All of these requests came a couple of years during FM's second term.

In addition to these, the Marcos administration also fared badly in terms of industrialization. Though the world called us the asian tiger because of increased infrastructure projects; these projects failed to materialize any increase in industrialization as most foreign companies opted to stay away from the Philippines. The blame centers on the conjugal dictatorship, as both husband and wife enjoyed destroying competition and also encouraged government "acquisition" of private industries. These "acquisitions" occurred with much violence and extortion; in one occasion, the first lady ordered the sinking of a vessel carrying hundreds of passengers in order to extort a competitive shipping line.

The failed industrialization led to record breaking unemployment rates and on 1970; the Philippine government through the directive of Ferdinand Marcos, encouraged the institutionalization and government sponsored promotion of the OFW. Initially, the government encouraged Filipinos (most were well educated college graduates) to work as domestic helpers in Hong Kong. This number swelled into thousands when the government allowed the privatization of employment agencies which effectively invented the contractual worker.

Majority of the Marcos regime's infrastructure projects were also considered as major failures. The maharlika highway system was mired by corruption and the original plans of creating a four lane highway were scrapped and only two lane highways were created. The two lane highway was highly ineffective that when you use an american vehicle; only one car would be able to fit in the highway. This is the reason why the maharlika highway is barely of use in certain areas of the country. Imelda's miss universe stunt resulted into the creation of the CCP and the Folk's art theater but what most Filipinos neglect is the abundance of ABANDONED buildings along roxas boulevard which are actually 4 star hotels created by the regime. These hotels were abandoned as guests found them to be unappealing and tourism was at a record low. These hotels, along with the CCP and the folk's arts theater, were constructed via world bank loans at an amount of 400 million dollars while government spending on housing projects barely even reached 40 million dollars. The San Juanico bridge is also a point of scandal. The Japanese government almost withdrew their donations to the Philippines when they found out that the Marcos regime stole most of the monetary donations. San Juanico bridge was constructed after Japanese scientists conducted numerous site surveys which also allowed more money to be pumped in and be stolen by the regime.

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Elcciii
02/28/2014 4:30am

my only question is... does this graph of yours that is truly nice and easy to understand, shows how the economy impacted the average juan?

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Choosy Mom
02/28/2014 9:37am

On your "apology" to GMA. Yes, her strong suit was legislation and programs on trade facilitation. The framework she put in place is what the Pnoy administration is building on and riding on todate. But the majority conveniently forget those facts in lieu of hypocritical "outrage".

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Jose
02/28/2014 10:12am

I think it was not mainly the President who put down the economy. There are plenty of factors causing the downfall. What I've been observing of the main cause is that, there are secret group working together to put the economy down not only Philippines but to all countries of the world except to the one who planed to excel. The President might be the member of the group or if not he is ignorant and the victim of the downfall or He is the only the puppet of the group. Search for yourself.

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Vic Mar
02/28/2014 10:22am

Congratulations and thank you for coming up with such an informative and interesting article. Do you plan to publish it , with the subsequent discussions (maybe grouped into facts (economic, historical), opinions (on the Presidents, on the article, on corruption, on population, etc.), lessons learned/President, and recommendations for a larger audience?

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Peej
02/28/2014 10:28am

Very excellent read! Thanks for sharing! Hoping for more relevant infographs in the future.

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Katie
02/28/2014 10:49am

I thinks that's where Pnoy goes into the picture. He's eliminating the corruption one by one so we can feel this economic boom if there really is..

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Antonio Tiongson
02/28/2014 11:17am

I find the article very shallow, very little in substance. The truth is we do not have a president with business in mind, that is why the economic trend is predictively downward. Marcos is the worst and the dumb voters keep voting them. All our presidents, past and present, exhibited selfishness and governed by either threat or bribery to stay in power.
To reverse the economic trend, the Philppines need a president who can lead and make the Philippines the center of research and production in Asia.

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Marcus Aurelius
02/28/2014 11:20am

This is a good article. Validating your claims with data. I can't wait to see your article about overpopulation and corruption.

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Ramon
02/28/2014 11:29am

My own twist, Do you really think that our presidents got something to do with the fall?

Here's what happened,
After the greatwar WWII, bumalik ang mga kano para ipagpatuloy ang kanilang nabibing pagmimina ( see all the dried mines all over), They rebuilt our infrastractures, railways, waterways, floodways etch. at ang primary intention ay para masuportahan ang kanilang mining activities at di para tayo ay tulungan, secondary effect na lang ito. And together with them are the armada of businessmen who established some businesses to support their mining, e.g. cordage, smelting, proccessing, ship building at mga pabrika and so on, at nagsulputan din ang mga secondary businesses na nakikinabang sa mga pabrikang derektang nakikinabang sa kanilang mining activities e.g. bus lines, taxis, car dealerships, cabarets etch. na sila din ang may ari.
Late 60's ng magsimulang matuyo ang kanilang minahan and the economy built by thier mining activities began to fall bit by bit. Nasabayan pa ng Cold war ng dalawang higante, (former USSR at US) At dito na nagkaroon ng faction sa paniniwala sa atin at nagsimula ng magpatayan ang mga pinoy laban sa kanyang kabayan dahil lamang sa pising nagpapagalaw sa bawat paniniwala, double whammy ang epekto nito sa atin.

Corruption? Politics? they are not the major contributor why our country is falling but our minset. We are the cause of it as a whole.

Tingnan natin ang ating nakaraan<
Nanggagawa na ng greatwalls at palasyo ang kanilang mga ninuno, ang atin ano? Dampa?

Dumating ang kanilang industrial revolution ano ang ginawa ng ating mga ninuno?

Natapos ang mga gera, iniwan ng kano ang kanilang jeeps cause they knew then that they will build new and better things. Tayo ni repair ang jeep at ginawang jeepneys.

Ngayon may highbreeds na sila and the tech is so high, tayo maski engine di natin kayang gawin. Tapos patuloy tayo sa pagbili ng kanilang mga tech. at binabayaran natin ng ating profduce at alila.

Is it politics and its corruption?

Now the competetion is more global than ever and they will eat, enslave us more easier than ever.

We have a choice, Close our country from foreign trade, our country is still self sustainable.

Or, We start to build our own things by ourselves, fight our own fight by ourselves(right after flexing our own muscles of course)

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right
02/28/2014 12:37pm

I simply agree with you here. It's the mindset of the Filipino too much drama on television. Try to close your program and think what will happen to you and family from that you will realize your not progressing at all. Coz your just waiting for the coconut to fall down.If we simply know how to get things done from your neighbors then you will know your environment. And select politicians that are suited for the position.


Personally, I don't like looking back because what happen before is happened. All we need is to move forward and think wisely.

About this graph, I find it helpful not because what happen in the pass but what is going on with our economy. Now we know are problems instead of blaming probably we want to change the word "SOLUTION" instead. Filipino attitude = Blaming tactics and get there hands off clean. See other race like japanese and korean. They don't think that instead make solution out of it.

Enough said. People commenting about the past I pity you because your are not helping at all. And I'm ashamed of being a filipino and I'm not proud because of barbaric mindset. All they want is to get there hands clean and play the blaming game over and over again.

Try turning off your TV for 2 weeks then you'll realize your neighborhood is in deep shit.

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CHITO
02/28/2014 12:58pm

Bakit niyo sisisihin ang mga Presidente? o sino mang tao? Kung nagbabasa kayo ng Bibliya makikita niyo at malalaman ang katotohanan, DISIPLINA, yan ang wala sa karamihan ng mga Pilipino, at PURO REKLAMO! Hay!

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Rob
02/28/2014 1:26pm

It's funny how so many people keep citing the infrustructure projects under the Marcos regime as proof positive of his greatness. They forget these were unaudited and paid off with foreign loans. Sure, he had roads and bridges built, he took his cut and left us to pay the bills. The BNPP comes to mind. That white elephant cost us billions. He didn't care whether it would be finished or not, he just wanted his 20%.

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02/28/2014 1:33pm

kahit sino pa yung maging leader or president yan parin ang kalalabasan kasi lahat ng tao uhaw sa kapang yarihan ... kahit sino kahit kayo oh ako yan din ang gagawin natin at sure ako dyan ... wala ng angel ngayon at wala ng tapat pag sya na ang may hawak ng lahat... kaya yung pag kukumpara nyo sa kanila ay walang kuwenta ... nasa TAO nayan parang virus kumakalat. isip isip muna bago mag compare baka mag reflect sa mirror ... :P pareho lang tayong lahat kurakot ang nasa isip. nagnugnurakot na tayo kahit nung bata pa tayo... we are ONE ahaha

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Ruel
02/28/2014 1:41pm

the sum of all DEMOCRAZY....poor JDC

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raymond m.
02/28/2014 2:09pm

Yan ang hirap kung sino sino ang sinisisi nyo na nagpabagsak sa economiya ng pilipinas. lahat nan ng umupong presidente at mga alipores nila at mga pulitikong umupo sa gobyerno ng pilipinad ay pinahirapan ang bansa at mga taong nagbabayad ng buwis sa totoo lang. ultimo ordinaryong tao na koneksyon ng mga pulitiko nakikinabang sa pera ng bayan at ng taong bayan ultimo ordinaryong empleyado sa munisipyo at sa barangay , ultimo pulis at sundalo , lahat iyan involve sa corruption simula noon hanggang ngayon sa totoo lang . simula sa executive , sa legislative at judiciary , sa mga ahensiya ng gobyerno , sa mga munisipyo at barangay pati na rin sa kapulisan at militar , lahat sila involve sa pagbagsak ng economiya ng pilipinas.kaya wag nyong sisihin ang kung sino sino. alisin at gamutin yung prinsipyong power and money! Alisin yung dynasty system. alisin yung immunity from prosecution ng mga politiko, ang nagkasala sa politiko parusahan at i ban sa pag hawak ng posisyon, baguhin at irebisa ang constitution, maraming pilipinong matatalino at matitino sa mga bagong henerasyon palitan na yang mga lumang pangalan sa politika ng bansa at bigyang tsansa ang mga bagong henerasyon ng bansa. walang sino mang pilipino sa buongundo na gustong maghirap ng husto ang pilipinas. Hangad din namin na guminhawa ang pumuhay ng mga tao sa pilipiinas at pag nagkataon iyon makikita nyo na maraming pilipino ang mag sisibalik sa bansang sinilangan ng masaya !

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dann
02/28/2014 2:24pm

The last democratic constitution was 1973 constitution. Followed by freedom/revolutionary constitution and later to 1986 oligarch constitution of Cojuanco. A revolt inspired by communism proudly introduced a partylist system in legislative government. If gawa-gawa lang nila marcos at enrile ang mga kaguluhan ay gawa ng mga communista? eh bakit my party list system tayo? saan galing yang party list system nayan? WALA naman ganun sa ibang bansa na democratic..tayo lang..

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palengkero
02/28/2014 2:25pm

Can we also use the poor Pinoy's basic food commodity as an indicator of economic downfall? AFAIK 'galunggong' was the basic consumer food for poor Filipinos then. Today, it's PAGPAG.

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great info. you never know.
02/28/2014 2:33pm

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02/28/2014 3:25pm

i beg to disagree...it was at the time of marcos as well, na talagang nabaon ang pilipinas sa utang....ang mga kasalukuyang utang ay pamana pa ni marcos...dahil di nababayaran, ang interes lang yata nabababayaran sa ating foreign debt, kaya lumalaki nang lumalaki..i could even remember during 1988 yata yun nung sinabi sa akin na ang mga bata ngayon na di pa naisilang, may utang na na 27,000 plus..at sa time na yun, ang laki na ng amount na yun comparing it to the value of dollar..kasi di pa 1 is to 50 ang exchange rate..and the people in our said, yan ang pamana ni marcos sa atin..i do not agree as well dun sa comparison ninyo ng mga infrastructure projects...it is incomparable to have it kasi isipin ninyo, ilang taon ba nanungkulan si marcos??as compared to the 6 terms of the presidents that followed after him...natural lang na marami talaga siyang magawa looking at the span of time..however, sa tingin ko pa rin, yung mga infra projects niya ay kulang pa rin para sa span na more than 20 years, kulang na kulang nagawa niya...nakaconcentrate lang mga infra projects sa luzon, but particularly in mania area..kahit nga ibang parts ng luzon di naman developed at that time...ang mga kalsada o road concretization projects is a big joke in his time...so i would say the chart presented is not realistic...sa aking opinyon yan...at saka, andami na ng mga kurakot na pulitiko ngayon..noon, mga marcos cronies lang..ngayon, 10 lang yata sa mga pulitiko ang di kurakot...sa bilang na yan ng lahat ng mga pulitiko sa bansa, including barangay officials...

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Senior Citizen
02/28/2014 3:50pm

Ang daming matatalino ano po ba nagawa niyo sa bayan?.. Hindi ako maka Marcos nabuhay ako sa Panahon Niya at Martial Law, Pero nakita ko ang magandang pamumuhay, ligtas sa aking mga anak, at kamag anak, May mga proyekto ang Gobyerno na masasabi nating makataong proyekto, pabor sa karamihan, Gobyerno umaaksyon agad kahit walang media at camerang naka antabay. Sa madaling sabi maganda ang pamamalakad ni Marcos, Ang alam kong galit sa kanya noon ay ang mga mayayaman at gusto lalong yumaman at mga militante na nagaaklas. Sa lahat ng panahon kahit panahon ni Cory ay marami ding namatay at mga biktima ng karahasan.. Ang tanong ko lang sa mga taong sumobra ang talino kahit hindi nabuhay sa panahong yoon, Kamusta na po ba ang Pilipinas nating mahal ngayun?.. Hindi ba kayo natatakot sa mga anak niyo at mga kamag anakan kung ano ang mangyayari sa susunod na 24 oras?. matatanda na ako pero natatakot pa rin ako sa susunod na mangyayari sa akin at lalo na sa mga apo ko. Huwag naman sana isipin ang pagyaman ng bansa dahil lahat tayo gusto natin yan kaso ang iba sarili lamang ang laging iniisip, hindi ang kabuuhan. Ang masasabi ko lang sa panahong yaon, mapayapa at ligtas at maituturing maipagmamalai nating ang Pilipinas lalo na ang pagiging Pilipino ko. Sana may susunod pang katulad ni Marcos na mag tataguyod ng Pilipinas kung paano siya dati.. lahat ng sumunod sa kanya? Makapangyarihan na at Mayayayman na, lalo na ang mga kamag anakan nila, mga anak at kung sino sino. Kung tutuusin kung siya man ay nangurakot eh siya lang, Ngayun po lahat ultimong traffice aide at barangay captain at mga tanod eh Kurakot, ang dami pang Kriminal kahit saan,, Hindi ba kayo natatakot para sa sarili niyo at sa mga anak niyo at mga apo?.. huwag niyong hintaying may mangyari pa sa buhay niyo at pamilya lalo na sa Pilipinas, kung alam ko lang sana nagkatotoo na lang ang sinabi ng aking ama noon nasana nag pasakop nalang tayo sa Amerkano o mga Hapon maganda pa sana ang mga buhay natin ant bansa. Ngayun kanya kanya na ang mga tao. Pgalingan, at kung ano ano pa.. nakakahiya na, dasal ko lang bago ako pumanaw sa mundo malaman ko na ligtas ang mga anak ko at apo sa susunod na mamumuno ng Pilipinas. Siya Nawa.

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Pinoy sa Ibang Bayan
02/28/2014 4:04pm

Sir Senior Citizen,

Tama po kayo sa mga sinabi niyo. Kaya po kaming lahat ng Family ko are now abroad dahil po wala ng nangyayari sa Philippines. I also feel that we are not safe anymore, and all that we see in TFC about the President, the Secretaries and Senators disgust me. More to see Filipinos debating instead of helping each other. So Help us God!

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yani
02/28/2014 4:22pm

nice graphic charts to highlight your points, but i would have loved to see global economic details which may also contribute to why the dollar was up/down during each president's term. not everything is related to mismanagment of the incumbent president/s

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John Dela Cruz
02/28/2014 4:49pm

Ako din nag aabroad, pero hindi ko iiwanan ang bansa ko. magtatrabaho lang ako para guminhawa pamilya ko at ang bansa ko. kasi kahit konti nakakatulong ako. kawawa naman ang pilipinas sa mga nababasa ko. ito ang problema ng pilipinas ang mga mamayan nya. uunlad lang ang isang bansa kung ang mga tao nito ay marunong magmahal sa bayan nya. lahat ng presidente magaling, nakatulong...pero sa lahat ng proyekto nila yung mga inprastuktura para sa transportasyon at mga gusaling pang kalusugan ang kapakipakinabang. at mas ligtas tayo kung ang sandatahan natin ay malakas kagaya noon.

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jasher
02/28/2014 5:16pm

Seriously? I dont think so... It's very obvious that we lost the exporting businesses especially agriculture after marcos regime. Are we not seeing the news about rampant anomaly in rice smuggling? less support from the government to our farmers? OFW's are the only resources now of our economy... BIAS is only i can say whoever did this... but then, I still hope that someday, not my time but for my children. they still have security and confidence to live in our country...

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DAO
02/28/2014 5:52pm

Actually try to do the reverse of the graph and you can see the graph in pesos increase.... the increase started on 1984 at on the1986 it increase to 20 pesos. At simula dun nagstart na tumaas yung palitan which is ang pinaka peak ay 58 pesos nung 2006.

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jose
02/28/2014 6:21pm

I think it was not mainly the President who put down the economy. There are plenty of factors causing the downfall. What I've been observing of the main cause is that, there are secret group working together to put the economy down not only Philippines but to all countries of the world except to the one who planed to excel. The President might be the member of the group or if not he is ignorant and the victim of the downfall or He is the only the puppet of the group. Search for yourself.

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Vijay Vasandani
02/28/2014 6:52pm

When dealing with GDP, should probably work with percentage increases over their terms instead of nominal values. That is a better means for comparison. Also, you cannot look at these values in isolation, you need to consider the time frame this was in. While GMA was president during the GFC, she was also working during the economic boom that existed before that, and the negative impacts of the GFC were not as strongly felt in the Philippines, thus inflating her capacity to improve the country's economic indicators.

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Hally
02/28/2014 7:07pm

In my analysis, It is Marcos regime who is liable for the economy downfall. As we noticed on the graph, it shows the gradual downfall during his term. If he just maintain the economy's capacity during his 1st seat as president, the succeeding term will just follow. Further, the succeeding terms only suffers the effect of Marcos's term. We are now grateful to President P'Noy AQUINO for bringing back the Asian Tiger on economy, The Philippines.

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Xin
02/28/2014 8:45pm

I'm not an economist, pero ang analysis q, lumaki ang utang ng Philippines ng time ni Marcos dahil sa mga infrastructures inutang nya ung funding, pero para masabi mong maunlad ang isang bansa kelangan m ng mga infrastructures kagaya ng roads, bridges, hospitals, schools and other basic necessities para ma-improve ang business industry & living condition. I think lahat nman ng mga projects ay may return na socio economic benefits kung hindi man monetary, ang question lang ay bakit sa lahat ng terms ng mga president ndi nman nila binabayaran ang utang ng Pilipinas.

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Xin
02/28/2014 9:00pm

Ang tanong ko lang ndi ba natural na lumaki ung gdp dahil sa population sa paglipas ng taon. kung babawasan m ang iniimport ma na product kesa sa export ng products ndi ba mas baba ang palitan ng dollar to peso. Bakit ung graph ang batayan kung yumayaman or humuhirap ang pilipinas. Ndi ba dapat ang batayan ay kung majority ng tao ay masagana ang pamumuhay?

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Inanalisa
02/28/2014 10:56pm

One need not be an economist to see. All of them had caused and are still causing the downfall of the Philippine economy. They and their cohorts all focused on gaining for their own sake, overshadowing what is supposed to be for the economy. The sick economy is just a result of the POLITICAL CULTURE in the Philippines. The political dynasty, the kumpadre system, those who are in control of the money have the power. And those in power are definitely corrupt because they'll have to get back what they've spent for the election. This is very evident from barrio/barangay level all the way up to the senate and even up to the highest seat.
If you have the money, charm, charisma, and good PR rep, spend your money with the best political machinery and get a yourself seat. Do some more corruption, and pass on the baton to your kin.

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Durga
02/28/2014 10:57pm

Thanks for sharing your research, Mr. San Agustin. I see, though, that the question, "Which Philippine President...?" elicited comments that stem, some from rightful grievances, others from political biases. As a lay person who wants to get a big picture of complex problems, one economic aspect is foreign investments (for which some politicians want to amend the Constitution). Do you have a list of foreign companies that control strategic industries, e.g., agri-business, mining, in partnership with Filipino corporations? I'm interested in such research/analysis.

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Rolen
03/01/2014 12:03am


By the way it was Former Pres. F. Ramos that cause the GDP To rise because he entice the foreign investor back in the Phil. When Aquino came in, the GDP from Marcos time was still going up due to the momentum but slightly loosing the confidence just after the middle of Aquino's term. However, Ramos brought it back up because of his foreign investor policy. And just keep going up due to the confidence Ramos started and Arroyo was enjoying the product of Ramos' initiative. The Foreign workers must also be considered here. They bring at least 20billion dollars a year to Phil economy. The debt ratio is going downwards due to the GDP going up even though the debt is increasing slowly. The dollar exchange rate has many factors. Printing of money will decrease the value of the currency. Aquino done that during her term. That is responsible for continually falling value of the Phil currency. World wars, civil unrest, corruption hinders foreign confidence, leadership or politics, natural disasters also may affect this data. There are more than it meets the eye. So this is only a data that can be use to monitor but it can not be used to judge a leader at that period of time. It is very unfair because they are not the only one who can cause these changes. The people of Phil. can also contribute to this results. The way the people work, complain and corrupt each other in the process. Good policy from the Government can also affect these results. Anyway, one day when all the resources can be mined only then Phil. can see the big changes. That is still in the future. As long as the Phil. leaders don't prostitute themselves to foreign pimps. Good luck.

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Tig
03/01/2014 12:08am

One has see the economic indicators like population, monetary system(s), banking systems (both local and international), trade & commerce industry, inflationary measures, and most especially the Federal Reserve System - indicators of supply and demand that can speak for the imbalances in the a given particular economy, i.e., Philippines.

No matter how strong the presidency is, if the given conditions mentioned above are in imbalance, economic results may be predictable.

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Tony
03/01/2014 3:57am

Magaling kung sa magaling na si Macoy pero sya ang presidenteng maraming pinapatay!

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argunator
03/01/2014 5:46am

Mali ang pag intende sa graph.... Hindi lang dapat eh sisi kai marcos ang sisihin bakit nag down.. condi ang taong bayan, Sila ang nag welga at nag sira sira sa mga businesses ng pilipinas.

Dahil sa mga welga ang mga nag aamok na raliesta nasira ang economia ng bansa..

But evidently si Marcos ang meron pinaka makalaking kasalanan kung bakit nangyari ang lahat dahil siya ay sakim sa kapangyarihan.. at ang asawa nya ay nag swimming na sa dami ng mamahaling gamit habang nagugutom ang taong bayan..

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chris
03/01/2014 5:49am

therefore i have concluded, it was erap who made all the mess... hahaha

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Alvin
03/01/2014 11:26am

This is in response to Durga's request. This only covers MERALCO and PLDT...
http://manilatimes.net/indonesian-magnate-controls-meralco/77962/

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Josef
03/01/2014 1:00pm

The graph is more or less a general one.

A conspiracy theorist would say that the US can't penetrate, let alone "control", the Phil economy and was successful with the downfall of FM. Some say that the reason for the Presidential Decree 1081 is to curb the US plan. Interestingly enough, both the Vietnam and Korean wars involved the US and Communism. Again, conspiracy theory.

Back to the graph.

It's a bit confusing though, the drop in forex seems to happen in 1971, Sept 21 is the declaration of Martial Law, but using the same website, the drop occurred at the start of 1971. Unfortunately, no monthly data can be recovered for the months leading to 1971. So it is not Martial Law that caused the forex drop. And there's a lot of world events months leading to it, we can not really tell if it would have any effect, directly, to our Forex.

Enough with drops and downfall. Let's look at how we can get going up again.

It's pretty clear that PGMA's term lowered our Debt and increases our GDP. But is it all PGMA?

Remember, in that period we saw a big boom in 2 industries: BPO and Health-care.

BPO will include Call Centers, Software Programming, Data Processing, etc. At the end of 2010, it was foretold that Phil will take over India for Call Center and it happened. The BPO industry provide roughly around 100,000 Filipinos that have a purchasing power to contribute to our GDP in 2005. And for example, 15k net income per month. That's 180k a year times 100k employees is 18 Billion Php in 2005 alone. At the end of 2012, BPO have 700k employees and the net income significantly increase. With call center agents can get 15k a month; programmers are most of the time are doubled for salary.

That's the story locally. However, internationally...

Our OFW's are still our top dollar-earner that send their money to their relatives in the Phil, which in turn, provides mean to spend here. Long gone the buzz for DH (sorry for lack of better word), but demand is still pretty high. But what's new in 2000's is the demand for Healthcare, specifically nurses. Do I need to say more and do some math as well? Skilled workers in the Middle East is still high, and with more emerging/booming markets there.

So it is not PGMA alone that seems to push the economy upward.

Seems that globalization have a good effect on our country. We were not severely and directly hit by the Great Recession in 2000's. We have a very good increase in GDP, eventhough it has been climbing at the beginning of the chart.

But if we go to the micro-level, things will definitely more interesting.

SIGH.

WE ARE STILL IN THE BLAME-GAME.

We may be the cause of the downfall. From what I know for the terms of Marcos, Cory(coup d'etat attempts) & Erap, PROTEST WERE RAMPANT! Those were the times we hampered our progress.

To answer the question, IT IS NOT A PRESIDENT BUT THE PEOPLE.

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03/01/2014 1:11pm

Interesting. How about adding data on population?

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03/01/2014 10:12pm

please lang sa mga walang alam kay marcos wag na kayo mag comment kung yung alam nyo lang is yung mga panira sa kanya, kaya bago kau mag comento dito read the real history wag yung manipulated history did by the mga demonyo sa pamahalaan

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Chuck ROxas
03/02/2014 12:37am

This government of Noynoy Aquino has been benefitting from the economic reforms made by GMA. I remember the news about foreign investments that came in when PNoy was just starting. Malacanang was boasting about it that the PNoy has been working hard to improve the economy. Later, news came out that the deal for the investments were closed during the time of GMA. What a shame! Credit grabbing people! I still believe that since the time of Marcos, there are only 2 presidents who made the necessary economic reforms that have saved our country from financial troubles such as during the Asian economic crisis in 1997 and the recent economic crisis which affected even the US and Japan. Infamous as there are to the masses but we educated people should recognise the reforms they have made. Of course, they have committed mistakes too like the other presidents. We should not forget their mistakes also so as not to make them heroes, just former presidents.

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Payer Nayab
03/02/2014 10:06am

Fellow country men, mahal kung Kababayan, buong Pilipas at sa mundo.The Philippines is a God blessed country.God loves all Filipinos and He will not allow us to be in vain. What is important that ALL Filipinos must live the moral values they have and do the right thing not for their personal interest but for the interest of everybody. Blaming what is past can not regain and improve our lives, our country. What we can do for the good of our dear Philippines should and always be inculcated in each and every Filipino citizens. Everybody knew that being lazy will not give us improvement, America and other parts of the world believe that Filipinos are good on begging, lazy to work, if they have job they are contented of what they have but on the other hand if given a chance to steal (corruption) then they don;t think of what will happen grab the opportunity to acquire by all means for their personal interest.Ang Filipino ay marunong mag pa ikot. Its time for us to change for the better. STOP laziness, corruption, too much politics. All for one, one for all, lets be united for the best interest of the country. STOP pointing your fingers to your fellow countrymen, STOP blaming of the past, nobody is perfect, we can do better if we always think for the welfare of every Filipinos, not for vested personal interest.

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Noel G
03/02/2014 10:24am

Over the years I have been hearing people who claim that they were at the CB when FM apparently machinated a scheme whereby he bought USDs in bulk and/or included PHL govt USD in a personal hoard just before he caused a PHP devaluation against the USD. The alleged devaluation was at least 2-3 times the rate and so after the devaluation he bought back into PHP using his now inflated USD, instantly doubling (at least his hoard). I had no way of validating those claims but given the circumstances they may be true? In any case Pinoys seemingly have a poor memory of such things and keep on electing thieves and thugs over and over again so maybe the country is getting its just due?

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Tukmol
03/02/2014 8:16pm

hindi magandang sabihin na ang isang bansa ay "deserving of its corrupt leaders". ang bansang puno ng mangmang (tulad ng sa atin) dahil hindi napa-aral ng mabuti o di kaya ay masyadong hirap sa buhay at walang oras na maigugol para sa mga usaping tulad nito na nakakamulat ng kaisipan, ay dapat kaawaan at sila dapat ang mabigyan ng mahusay na pinuno.

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sinobball
03/02/2014 1:58pm

Well PNoy doesnt want the Peso-Dollar rate do fall down. In fact they want to preserve what it is now because foreign investors will leave the country. That came from PNoy's administration.

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Tukmol
03/02/2014 8:06pm

Marcos = matalino pero tuso at masamang tao
= kumuha ng mga mabubuting tao pero para ilagay sa harapan niya. sa likod niya itinago ang mga kapwa niyang masasamang tao
= nangutang para daw sa bayan, siya naman ang nakinabang sa karamihan

Cory = mahina pero mabuting tao
= pinaligiran ng magkahalong mabubuting tao at masasamang tao
= hindi dapat kinilala at binayaran ang mga utang ni Marcos na ang nakinabang naman ay hindi ang bayan.

Ramos = mahusay magpatakbo at makibagay pero gumawa din ng maraming pagkakakitaan na pang-sarili

Erap = bobo at masamang tao, ewan ko kung bakit ninyo binoto

Gloria = tuso at noon pa man ay masama nang tao

Noynoy = mahina pero mabuting tao
= pinaligiran ang sarili ng magkahalong mabubuting tao at masasamang tao
= hindi na dapat bumili ng mga fighter planes at ibang mahal na military hardware at maghihirap na naman ang bayan. dapat bumuo na lang ng elite team of soldiers and spies na kayang damputin o todasin maski sino tulad ng pinuno ng china.

Sunod na Presidente = sana matalino at mabuting tao at mahusay kumuha ng mga tao

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03/02/2014 9:30pm

I think further researched should be done including the era of Pres Diosdado Macapagal tenure.

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Gavin
03/03/2014 6:44am

For corruption, might want to check out Transparency.org - granted, they only have data going back to 1995, but still it's better than nothing.

http://www.transparency.org/research/cpi/overview

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Chelito
03/09/2014 7:29am

There is no real progress in the realm of inhumanity.

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Unbiased Opinion
03/12/2014 10:04am

Obviously, from a writer who hates the accomplishments of PNoy. Get your facts straight since obviously, only stupid people believe you.

http://www.bloomberg.com/news/2014-01-30/philippine-gdp-growth-slowed-last-quarter-on-impact-of-typhoon.html

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Boom
03/12/2014 5:17pm

Do you know what I find funny? Half the people who gave their comments have accused me of being pro-PNoy (or part of the yellow army) while the other half (like you) have accused me of being anti-PNoy. So, which is it?

It think that it's because some people like you don't really read everything. Some (like you again) just read a few lines and jump to conclusions. It's just sad that all you see is bias where there is none.

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Erik Umali
03/15/2014 11:11am

Guys, FX rate is not a good factor to say if the economy is good or bad. Look at Japan. The former number 2 biggest economy kept their yen at around Y100:$1 for a long time.

Having a high FX rate is good for exporters (you get more peso per dollar you have, dollars you gained from selling abroad), bad for importers (you get less dollars per peso you have, dollars you need to import). So really, you have to weigh how much importers vs. exporters does the country have, so that in the end, you'd have equal or more money gained from exports than money lost from imports.

Then there's the issue of fixed and floating currency. For those who don't know, a fixed currency is a currency that is always stuck at a certain exchange rate to a dollar. For example, if the Philippines currently has a fixed currency at P2:$1, no matter the changes in the market, the economy, whatever, the government has the duty to make it stay at P2:$1. The government, in short, control the supply and demand of the market. This is what our currency system is before Marcos's time

Floating on the other hand lets currency be subject to the factors of the market, the supply and demand. So this is the system we have now. Our peso is influenced by the demand for more peso vs. the demand for more dollars. The Peso has to adjust with the market.

FX rate changed from fixed to floating during the last years of Macapagal (1964), right before Marcos's time. Changing from fixed to floating would obviously affect the FX rate, and we would see how much Peso should really be to a Dollar in a free market.

The conclusion that Marcos screwed the Philippines does not hold water. The only thing that dropped was FX rate, which I explained is really not much of a factor as to how strong an economy is, and really is going to drop during his time because the currency changed from being fixed to the dollar to being floating. Debt grew, sure. So did GDP. And we have to look at where Marcos started. Before his term, the Philippines already had more debt than GDP, from the graph I'd say around $40B in debt to around $5-7B in GDP. That's a whopping 5:1 up to 8:1 Debt:GDP ratio. By the end of his term, Debt:GDP ratio improved. I'd say debt is around $90B while GDP is around $30-$35B; Debt:GDP ratio is at 3:1 or less. Now that's improvement.

And as someone said, we should take into account the effects of the conditions of that time. There was a Vietnam war (in which we had to participate, at the call of our "brother Americans"). There was also a cold war and the strengthening of the communists in the Philippines who instigated chaos all over the Philippines. And of course, we need to look at the history, and go back further in time and compare former presidents (from Macapagal to Emilio Aguinaldo) just to say who or what screwed our economy, taking in to consideration the conditions of the times.

TLDR: Never use FX rate to compare economies. They don't really say how good or bad an economy is (looks at Japan with around Y100:$1).
Marcos was a good president. Compare GDP:Debt ratio at the start and at the end of his term. It's a great improvement.

PS. Could you switch the values in the FX rate? Make the Dollar the numerator and the Peso the denominator, since the dollar has a higher value than the peso. I want to see numbers greater than 1 rather than decimals. It's easier to compare where the economy suffered from greater importation and lesser exportation

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M16uelito
03/19/2014 1:35pm

Who caused the downfall is a very broad question rooted ancestrally.
Marcos is a man of action, Ninoy is just a Cojuanco lab rat

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Maricel
03/21/2014 11:54pm

My KOREAN BOSS told me that during 1970's OUR COUNTRY WAS VERY RICH ....BY ALL MEANS MAGALING TALAGA C MARCOS.. FOREIGNERS KEEP TELLING N MAGALING C MARCOS ....WELL MGA LIBRO DITO AY BINAGO NI CORY

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aljandro
04/23/2014 11:12pm

Maricel Tama ang Boss mo... sa Panahon na iyon ay mayaman pa tayo sa ibang mga karatig bansa natin sa Asia...! iyon ay dahil totoo po yon plus pa nang mangungutang ng mangutang si Marcos ng napakalaking halaga ng Dolyares para maipatupad nya ang mga plano nyang Infrastractura... ay talagang napakalaking damakmak na Halaga din ang pinagpipiyestahan ng kanyang [amilya at mga Cronies mula sa mga inutang sa World bank, IMF at ibng mayayaman na Bansa!!! katunayan marami syang pinayamang Henerals.. Colonels, Majors at mga Kutong Patola!!! At mga Politikong gahaman!!! At napakayaman tayo sa mga Manipulations sa Media.. etc..., Illegal Loggings.., lLAND Grabbing, Mass killings, Child Soldiers at Political False Dramas etc. Ang yaman yaman ng Bansa natin sa mga UTANG!!!

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Roland
04/07/2014 1:31am

Kung utang pag-uusapan, ito Analyse ninyo Kung sino ang nag papahirap sa sambayanang Pilipino
Marcos liabilities incurred in 20 yrs, assumed by Cory 194.857 billion Pph (Including Bataan Nuclear Power plant mothballed by Cory and the tax payers paid 300,000 dollar a day for interest alone without a single Kilo watt was used. Paid during GMA’S term in 2007.
Marcos spent in 20 years 448 billion Pph, and built so many infrastructures, you name it.
Cory disbursed 1.6 trillion Pph in 6 yrs & 4 month.
Ramos Disbursed 2 trillion in 6 yrs also
Current borrowings of present administration of Pnoy 5.45 trillion Pph. As of June 2013
Noy-noy alone borrowed 350 billion in a span of one year (2012-2013)
For the sake of Arguments, lets divide 5.45 trillion by 5 administration excluding Marcos, each of them has 1.09 trillion Pph. Borrowings. Remember One trillion is 1000 billion.
(Source, Department of Finance & from the well researched book of Cecilio Arillio Greed and Betrayals)

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