The Voices of Fallacy

First, I would like to correct the impression that PGMA wants to extend her term. What I meant in my earlier entries is this--we want her to. That's as brazen and honest we are about it. It's not that we benefit from it. No. Quite the contrary, we are heavily burdened by state matters that sometimes, the weight of governance seems quite too heavy. Me, I'm always writing opinions here in my office and have no time for prognostinations nor pseudo-intellectual debates.

What's so wrong with continuity? A 2020 proposition is as clear as day. It can be done through another president, although, I shudder at the thought of serving another president other than PGMA. I'm being prevailed to publish much of my thoughts on this subject, but I want to make clear that this is just my personal take on this, and in no way connected with whatever I'm doing for the sake of governance.

Likewise, I offer my hand of friendship to those who criticise PGMA. Let's move forward. We all want this country to prosper, right? Christmas is just around the corner and we have an economic crisis to solve---together. Let's puff our cigarettes together and work for the betterment of this country. Hey, we only have one.

However, short of asking, may we always look at PGMA's acts objectively? That's the least we can do. Tone down the fallacies, the accusations and work for the welfare of the people. I welcome comments such as what this DJB Rizalist character wrote here and those of Mr. Mangubat. I don't expect them to change tack, no, not in the immediate future, especially Mr. Mangubat whom I presume, has always worked for the ouster of PGMA. I'll not make a big fuss out of what he wrote against me, since I'm not a fascist. I'm just a lover of democracy. And being an Officer of the Law, I'll not judge him for writing such. Hey, we are in a democracy and in no way did I pursue a contrari view.

Having said that, let's work for the sake of this country behind one leader--PGMA. As I wrote over at FilipinoVoices, PGMA is a tireless worker. She wants stability. She pursues order.

Blasting Voices

I just counted the number of stubs in my ashtray--I puffed just two cigarettes answering all those writers over at FilipinoVoices. Blasting them away is easy. Stick with the issue. And they readily tire out. It seems to me that these so-called "intellectuals" are all heart and no mind. I mean, these tirades against PGMA have no basis in fact and in law. These are just meaningless rantings of a few who believe that they are always right and government is always wrong.

Working in government takes a lot of courage. You need to have the strong will to do what's right. You need insight. You need a steely will. And you just need to dismiss all these accusations against you simply because these ordinary citizens will never, ever, get it. That's the reason they're there and we're here.

PGMA did what she's supposed to do--try to resolve this pesky Mindanao issue. For decades, people have been clamoring the President for a definitive stand on this issue. Many sectors, especially those from the Left, share the same stand as that of Madame President. Yet, when she stood up and implemented what she thought then as the right thing, she was lambasted for it.

Governance is not as simple as one may believe it is. It's hard work. You put your entire mind and soul into it. And you're compensated, plain and simple. When you do a right thing, you're sure to meet people who'll chastise you for what you did simply because (1) their own interests were hit hard or (2) one or some of their friends were harmed by it. Government is a delicate balancing act. People will never understand the logic of policy-making.

Having said that, it's easy for people to criticize things which they don't really understand. Or they thought they did but never considered the rationale behind the act.

Like this charter change thing. People will never understand why we want PGMA to extend her term. Yes, I'm saying it here with all candor--we are for the extension of PGMA's term. We need her to continue what we've started and that is, create a society that promotes oligarchies. Plain and simple. I don't want to mince words. 

Come November, we will get what we want and people will just follow us. These ordinary people do not have the strength nor the will to oppose us. We know it from experience and from surveys. If the likes of the Black and White Movement and those minions of this dreamer named Mar Roxas think they can muster enough numbers to oust Madame from power, they're dreaming.

We will survive these anti-charter change moves and give ourselves another ten years to govern and straighten out this country. 

GSIS in dire straits

This is something for everyone out there in the Philippines, to worry about. Their state pension fund, the GSIS (the "Government Social Insurance System) has been severely hit by the global recession. Signs of a Fannie and Freddie Mac? Probably. Filipinos should fire whoever heads this GSIS fund.

Crash pummels GSIS foreign portfolio
By Daxim Lucas
Philippine Daily Inquirer
First Posted 02:58:00 10/18/2008
Most Read
MANILA, Philippines—The state-run pension fund Government Service Insurance System (GSIS) may have incurred more losses due to the sharp decline in stock prices around the world in recent weeks, an examination of its portfolio of stock holdings revealed.

The “global property securities” held by the GSIS also showed marked drops in their values in the weeks following the GSIS declared profits from its overseas investments.

One particular investment — in Helsinki-listed Citycon OYJ — showed an 85-percent drop in its value since the GSIS began its foreign investment program. Other property investments, such as in Brazil’s BR Malls Participacoes SA and Singapore-based property fund Capitamall Reit, showed declines of over 50 percent.

At the height of the global stock market meltdown last week, some of the GSIS holdings in its global investment program (GIP) lost more than three-fourths of their value, according to published stock prices.

The biggest losers in the GSIS portfolio included UK-based consumer credit firm Cattles Plc, which lost 77 percent of its value, Singapore-listed real estate investment fund CDL Hospitality Trust (down 71.7 percent), New York-listed Allied Irish Bank (down 73.8 percent) and the Royal Bank of Scotland Group (down 76.2 percent).

Other large losers included Singapore-based manufacturer Hong Leong Asia Ltd. (down 69.7 percent), China Coal Energy (down 65.7 percent) and the world’s biggest telecommunications firm China Mobile Ltd. (down 45 percent).

The GSIS has said it had acquired 123 stocks under the GIP. It listed its holdings in a paid advertisement published last week.

The GSIS earlier announced that its foreign investment activities began around April.

A survey of the performance of GSIS’ stocks showed that the prices of at least 82 stocks retreated in value from April 1 to Sept. 30, 2008 — the cut-off date for the pension fund’s published report — and only 15 stocks registered gains.

During this period, at least eight stocks lost more than half their value, with Cattles Plc performing the worst. Eleven other stocks on the GSIS portfolio lost between 30 and 40 percent during this period, and at least two stocks showed double-digit gains.

Earlier this year, GSIS allotted $600 million for foreign investments to be managed by ING Investment Management and Credit Agricole Asset Management.

GSIS president and general manager Winston Garcia earlier said the recent declines in stock markets around the world presented the pension fund with fresh buying opportunities. He said the investments were long-term in nature.

Its published investments last week also showed the GSIS earned the bulk of its declared gains from foreign exchange fluctuations — a result of the weaker peso against the dollar in which the investments were denominated.

The GSIS said it had earned P1.4 billion as of the end of September from an initial investment of P25.12 billion, for a return of 5.65 percent.

When computed in dollar terms, the figures showed that the pension fund may have incurred losses of as high as $48.9 million, or about P2.33 billion, using the latest foreign exchange rate.

In dollar terms, the GSIS may be actually losing eight percent as against a five-percent gain in peso terms.

As of late Friday, GSIS officials had yet to respond to the Philippine Daily Inquirer’s requests for clarifications on its foreign investmen

Comments on those who oppose the Reproductive Health Bill

Over here at the country which I consider paradise, people are up in arms over this controversial bill. Called the Reproductive Health bill, people from all walks of life are lambasting the bill for its alleged "anti-life" provisions. 

In between smokes, I've read the bill and for me, there's nothing wrong with it. It's actually a toned-down measure, meant to control the ballooning numbers of Pinoys. It's watered down to the point of irrelevance. I mean, is it the State's duty to protect its citizens and ensure that their future is safe? Imagine what it would be like here in Boracay if its filled to the brim? I mean, right now, this tiny island holds more than 20,000 people at one time. I'm not surprised that one day, I see this paradise under water.

Going back to this "debate" against the R-H bill, I found some of these oppositors as hypocrites. You guys, don't tell me that you do not use condoms? Don't tell me that not once in the past did you go to 7-11 and bought those goat skins? 

And when you did "it" the first time (sex, dummy!), were you uttering God or was thinking of God when you're humping your wife or your girlfriend? Of course not! You're thinking about her, right, and not some distant entity up there in the heavens, smoking as we speak.

Seriously, we need to take a closer look at this bill without our religious lenses. Reproductive health is not anti-Catholic. It's not anti-life. In fact, I think, it even promotes life. Promoting life means being responsible and this bill teaches Filipinos to be more responsible in their lives, especially this special thing called "sex".