Can’t deny the LACKLUSTER Philippine government’s economic performance. In a country which pays attention to the trivial like condoms and being cutie patootie is more important than getting a leaky house in order, such news is not surprising. For all of Aquino’s happy talk and yellow kool-aide - the fact remains that the 8% projection is just that… all fluff. Kumbaga sa siopao - puro flour, walang karne.
The Fluff
Nearly six months ago, December 2010 to be exact - the result of the latest approval rating conducted by Social Weather Station (SWS) revealed that the Aquino administration has reached a record high. According to presidential spokesman Edwin Lacierda “73 percent of respondents said they approve of the Aquino administration’s performance”.
The economic fallout from a deeply flawed 1987 Philippine Constitution continues
As I previously wrote in The Do Nothing President, the Remittance Bubble, and the Increase in Corruption
A year after Aquino – the candidate who ran on Integrity – the Philippines integrity scores have decreased from 71 (2008) to 57 (2010). It seems daang matuwid got sidetracked by a Porsche, a Lexus, a hotdog, increase in SLEX/NLEX fees, more fuel subsidies for Uncle’s Petron, mining for fellow conyos (privatization sans liberalization is the sh*t – we eat conyo dung)
Where’s the Beef Bebe? 
Guess what - the NSCB adds a new item to this perennial trainwreck, pile up, catastrophe called - the Philippine economy.
PH economy grew 4.9% in Q1–NSCB
By: Riza T. Olchondra
Agence France-Presse, Philippine Daily InquirerMANILA, Philippines—The Philippine economy expanded by 4.9 percent in terms of gross domestic product in the first quarter, the National Statistical Coordination Board said.
This rate was slower than the election-stimulated 8.4 percent growth in the first quarter of 2010.
“Underspending by the government and the slowdown in global trade constricted the economy to a lower growth… of 4.9 percent in the first quarter,” the agency’s secretary general Romulo Virola said in a statement.
The government said earlier it was aiming for a full-year GDP growth rate of seven to eight percent.
Gross national income, which includes income from abroad, expanded 3.6 percent from 11.5 percent the previous year.
The drop in the growth rate was partly due to political crisis in the Middle East and North Africa, a key source of remittances from overseas-based Filipino workers, as well as the appreciation of the local currency.
For all the talk of “CCT, Zero-based budgeting, Walang mahirap kung walang corrupt, PPP, RH Bill” - in the end it comes down to 4.9 percent. The usual suspects are the political and economic upheaval overseas. But, given that Vietnam, Thailand, South Korea, Taiwan, India, Malaysia, and Brazil face the same macroeconomic pressures - they still made more than twice, thrice, even five times the Philippines in terms of FDI attracted during the 1st quarter of 2011. Clearly, the alibi no longer suffices.
Money Talks, Bullshit Walks 
The government response however, was pathetic and moronic as usual. Instead of addressing root causes - all Aquino can do is to blame the unfavorable comments against him as the cause of the drop in the perception of satisfaction on his performance. In case Noynoy forgot the proverb “where there’s smoke, there’s fire” - now would be a good time to rediscover it. The drop in economic performance (4.9% vs simulated 8.4%), increase in hunger, increase in corruption is too big an elephant to ignore - and yet Noynoy continues to do so. The only thing that best describes the policy direction being pursued by the Aquino regime is one of delusion and irrelevance - even to his own campaign promises on job creation.
When Aquino promised “We will increase investments to provide quality jobs for Filipinos by lowering the costs of doing business in our country.” we end up with Vietnam and Thailand leaving the Philippines in the dust.
When Aquino promised “We will strategically target assistance to small and medium enterprises, and key industries where we have a competitive advantage to maximize our potential for job generation.” we end up with Aquino’s konyo cronies making a killing in Wall Street trading while we trade our national sovereignty for drug mules.
When Aquino promised “We will strategically target assistance to small and medium enterprises, and key industries where we have a competitive advantage to maximize our potential for job generation.” we end up with more fuel subsidies which go to the flagship companies of Kamag-anak Inc.
When Aquino promised “From treating the rural economy as just a source of problems, to recognizing farms and rural enterprises as vital to achieving food security and more equitable economic growth, worthy of re-investment for sustained productivity.” we get legislation that continually gives rise to rice cartels. Each new administration brings new faces doing the same old shit.
When Aquino promised “From government anti-poverty programs that instill a dole-out mentality? to well-considered programs that build capacity and create opportunity among the poor and the marginalized in the country.” - So far the only capacity developed has been to develop the ability of Globe to process the payments - Pinoys are still stuck in the dole-out mentality. Free condoms anyone.
When Aquino promised “From a government that dampens private initiative and enterprise? to a government that creates conditions conducive to the growth and competitiveness of private businesses, big, medium and small.” the Philippines gets the rating as one of the most restrictive economies in the world. You know what does to growth and competitiveness - it dampens it, DUMBASS.
When Aquino promised “From a government that treats its people as an export commodity and a means to earn foreign exchange, disregarding the social cost to Filipino families? to a government that creates jobs at home, so that working abroad will be a choice rather than a necessity; and when its citizens do choose to become OFWs, their welfare and protection will still be the government’s priority.” - we are a no-show in the Nobel prize as we kiss Chinese ass to spare a drug mule from execution on the day of the EDSA celebrations. Our citizens would rather stay in Libya during the height of the violent conflict insted of returning to the uncertainty of the Philippines. We implemented an E-passport system that DRASTICALLY lengthened the time to get a passport.
This is the reality of “daang matuwid” - people power is a people’s blunder.
The Answer to BS is More BS? 
What can the Filipinos do? Thus far we have seen the gamut of prescriptions tried out - except the solution that is “too big for one individual, we can’t get our shit together, let’s cop out” - economic liberalization.
Take for instance Philippine Media - Is it because of the nature of the domestic demand or is it due to limited competition - or limited choices.
Often times, we point to the unsophisticated demand of the Filipino consumers as the culprit. After all supply will just meet the demand. However, does that proposition apply under a monopoly environment when people have limited choices due to legislative restrictions that prohibit foreign ownership of media in the Philippines.
Is the consumer at fault? Or is it due to limited choices creating a self-fulfilling prophesy?
How does one really know if the competition is not allowed to compete in the first place? Winning or losing by default - and pinning it on “culture” misses the point of a media industry under the conditions of monopoly.
Explained in terms of tuyo, bagoong, and hamon - Philippine media and the impact of protectionism on the availability or even access to new programming - the culture vs system debate within the context of Philippine media takes on a new more in-depth perspective - good sound reasons, not just reasons that sound good.
The impact of protectionism on the development of Philippine media - and the Philippine economy has been disastrous.
It is time to get the house in order - it’s the economy, stupid.
Recommended Reads:
Get yourself up to speed - have the right facts and make a well informed decision.
How I Came to the Conclusion that the Philippines Needs Economic Liberalization
Why the Philippines is Losing Out to Thailand and Vietnam: Future OFW Destinations
NO NEED FOR RH BILL: The View of An Atheist Secular Filipino
Are the Philippine Rice Shortages Caused By Arroyo, Filipino Culture or Flawed Rice Policies?
Vilfredo Pareto and the Filipino
Is the Philippines Ready for a Rising Single ASEAN Market?
The Do Nothing President, the Remittance Bubble, and the Increase in Corruption
A Tale of Two Countries – Korea and the Philippines
A government that is overflowing with good Press Releases; but very very short on accomplishment, is what we have. Noynoy Aquino is very much concerned with his Image, than what he can do, to solve the problems of our country. It is very sad, we have a President like him.
He depends too much on people…He is born rich, so he has people serving him, and do the job for him…THIS IS HIS WEAKNESS. PLUS, HE JUST LACK THE BRAINPOWER TO DO THE JOB. And, he tried to delude us, by getting Honorary Doctorate Degrees…he is deluding himself.We know his mental caliber…
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Garbage in, Garbage out people, nothing new, hopefully I could get out of this hellhole.
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at least he has his Porche
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Zadkiel Reply:
May 30th, 2011 at 1:37 pm
oops! my bad… its Porsche
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Who’s the klutz in the video? Wearing shades makes him look yuckier. Never mind. I wouldn’t trust someone with a pocky face and flared nose like his. =P
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BongV Reply:
May 31st, 2011 at 10:12 am
there’s always a Michael Jackstone sock puppet
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i didn’t vote for him..
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this is crap P-noy knows nothing about economic liberalization as it’s best!!!!!! hahahaha Media bs is sooooooo super sipsip of Noynoy I tell ya.
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