• WB, ADB, Davos big wheels, other int’l agencies should recant


    WE witnessed with sadness how international financial agencies, the movers and shakers of the Davos World Economic Forum, and the most globally influential print, cable and TV media, including the New York Times, collaborated with President Benigno Aquino 3rd, Finance Secretary Cesar Purisima and Budget Secretary Florencio Abad, et al. They endorsed the false Aquino claims and helped make the Filipino and international public believe that President Aquino has seriously and rigorously launched an anti-corruption campaign. They also gave statements and speeches heaping praise on President Aquino for making the Philippine economy “the new Asian miracle economy.”

    Now that the truth is beginning to come out of the President’s, Budget Secretary Abad’s and Secretary Purisima’s blanket of lies, the World Bank, the ADB, the big wheels of the Davos World Economic Forum, the New York Times and the other media superpowers must help re-establish the truth. Justice demands no less than that.

    In the course of making himself and his new regime look great, President Aquino mercilessly—and dishonestly and unjustly—made President Gloria Macapagal-Arroyo look like a villain who made the Philippines “the sick man of Asia” by running an abominably corrupt regime.

    That was forgivable in a group of politicians campaigning to win votes against a ruling party. But Aquino and his gang made their untruthful campaign platform the basis of their way of governing our country. It revealed President Aquino’s ignorance and incompetence, and also his viciousness, when he lied, saying in his first nationally televised speech as the new president of our country, in his 2010 SONA, that he had found the nationally treasury depleted. He used the word “budget” and not “national treasury” which was properly abundant in cash. He accused the Arroyo administration of unbridled corruption, as he had done during the campaign.

    He thus created the emotional environment to allow him to have President Gloria Macapagal-Arroyo arrested. But it also created what he thought was the justification for the cancellation of Congressionally approved budgets for monumental infrastructure projects that would have stimulated the Philippine to greater heights had they not been cancelled. His unjust vilification of the GMA administration also justified his suspension of projects that had been launched earlier.

    And that became the reason for the creation of the Disbursement Acceleration Program (DAP), which is the most boldly venal scheme ever tried by anyone in the Executive branch of our trinitary republican system to divest the Legislative branch of its constitutionally assigned task of being the master of money matters and appropriations (the “power of the purse.”)

    But in their (Sec. Abad’s and the others) greed, or in President Aquino’s incredible ignorance and incompetence in these matters, they cancelled too many projects. What the cancellations did was stop the momentum of President Gloria Macapagal-Arroyo’s programs to shoot the Philippine economy’s star to the highest heavens. The 2010 Gross Domestic Product (GDP) rate of growth in 2010—the product of Mrs. Arroyo’s planning and exertions—was a globally envied 7.63 percent. After the cancellations and suspensions—decreed by President Aquino, perhaps on the advice of Secretary Abad and Secretary Purisima, our economy became sick! In 2011, the GDP growth rate dropped from 7.63 percent to 3.64 percent. Unemployment increased! Poverty and hunger sharpened! They made our country a “sick man of Asia.”

    Did President Aquino and Secretaries Abad and Purisima kneel before Quiapo Church or the Baclaran shrine to Our Mother of Perpetual Help, and cover their heads with ashes as monarchs of old did whenever they committed sins against God and their people?

    No, they did not. Instead they told the most cruel and bare-faced lie of all. They said that they were curing the condition of the “Sick man of Asia” with their unconstitutional and illegal invention—the DAP.

    True enough in 2012 the GDP rate of growth rose again—to 6.82 percent—and in 2013 to 7.16 percent. But these figures were still below Gloria Macapagal Arroyo’s 7.63 percent growth rate in 2010 (which would have most likely been much higher had Aquino and Abad not cancelled projects.)

    They fabricated a narrative that President Aquino rescued the Philippine economy from the comatose state the previous administration had caused.

    And World Bank, ADB, Davos bigwigs agreed!

    They should recant. They should be more honest than Aquino, Abad and Purisima—and help tell the Filipino people the truth.

    For if they don’t, the Filipino people—many of whom still think President Aquino is a superman-saint—will be doomed to living a lie and suffering poverty for being so ignorant and deluded.


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    1. jason bourne on

      They were not fooled. They just played along. With all the cheap money they got from the US QE they have to put it somewhere to earn more money – the connivance of the world elite with the local elite. Nowhere in the storyline would they need to fact check the figures. All they need is a good story to sell to their own gullible investors – its Con-Mans Game.
      Nobody in the world gives a s__t about the Filipino. Shucks, they could not even take care of their own poor much less take care of their own problems. The name of the game is to make money as much as you can, as long as you can.
      So if the powers that be say its true, hell, lets say its true.
      The Truth only Matters when the fat lady sings…

    2. THE ONLY THING I CAN SAY ABOUT Pnoy and his ilk is…IT’S KARMA TO THE MAX now working against them!

    3. jose hernani m. parco on

      let’s cut the crap! they make the loan, they steal the money and we pay up!

    4. Sure the WB and the others at the economic forum believed Pnoy, who could believe that a President would only be telling half-truths and outright lying. They do not live here. As a matter of fact, the Filipino people were also fooled in believing the stories being told. Now we Filipinos know much more than when the lies were being told. Now the true story has even moved beyond our borders. I expect that anything the President and his cabinet states on the world stage will not be believed. The truly sad thing is that he has now planted a seed of distrust in the international mind and future administrations will be covered by it.

    5. Eddie de Leon on

      They used to speak glowingly of the Philippines under Arroyo, too. But someone convinced them to bet on Benigno Aquino, son of the late Cory Aquino. I suspect the PR work was done under the leadership of Mrs. Reginald Lewis (Loida Nicolas Lewis), who helped Aquino and Abad choose the international PR agency for the Yellow Army-Benigno Aquino presidency.
      These people are guilty of injustice and lying as Abad, Aquino and Purisima are.

    6. True enough, from day one of the Thief Executive administration, we, the public were lied to, fooled and placed inside the pockets of PNoy and his cohorts led by Abad, Drillon, Mar Roxas, et al. Time for the people, including the fanatic yellows to think and ponder what has PNoy brought to us other than corruption and bribery?