By Mariano Santos, PINOY Publisher/Editor
Trite as it may sound, first the good news.
The fear of a global economic depression did not materialized. TIME magazine’s story on its 2009 Person of the Year put the tattered state of the economy that pretty much in perspective. The shy nerd in-charged of the US Federal Reserves, Ben Bernanke, defied popular opinion and put what he learned from the past into practice.
This head of this nation’s Central Bank who votes Republican has for an ally in a discerning new US President who now is defying opposition from his own party in reappointing Bernanke for another four-year term. The American people might not get it fully clear that the Fed’s initiative to pump big money to stimulate the economy and to save the big banks from failing averted a disaster similar to what happened in the 1930’s in what is known as the Great Depression. It’s bad times but it could have been much worse. Well, that’s the good news.
Bernanke studied the big depression. Unemployment then was at 25 per cent and thousands of banks failed. Over 12 per cent of the nation’s wealth evaporated. Bernanke with his bold remedies avoided the mistakes of that dark era. True, we have now 10 per cent unemployment; a little over one per cent of the national wealth is gone and a couple of hundred banks failed. Without the actions taken by the fed in the past year, this country could have been pushed into the precipice of another economic debacle.
The last issue of TIME for the year 2009 is an interesting and a valuable reading resource for Americans who seek clarity in what we are experiencing now. (I must admit TIME, the magazine founded by conservative and Republican publisher Henry Luce in 1923 has been my reading staple since my teen years. I have spent scarce school allowance just to own old issues like Albert Einstein and Adolph Hitler on the cover. I value an autographed a copy of the issue with Cory Aquino as 1986 Person of the Year. She signed it in 1999 in Maragondon, Cavite where we met for the Habitat for Humanity build up.)
Bipartisan Administration
I don’t often agree with TIME’s news analyses but all the time, I find its accounts interesting and engrossing. I flipped over TIME making Barack Obama its 2008 Person of the Year. Obama’s election to the White House is an historic event. And as the first year of his term is just about over, it is undoubtedly good for the nation and perhaps for the rest the world. His retention of Bush-appointee, Robert Gates, as Defense Secretary proves that he considers both parties’ ideas. On how the Republicans vote in Congress is primarily dictated by their desire to get reelected by their misinformed constituents. One would think they would make their voters see an enlightened leadership.
Yes, Barack Obama’s bold handling of the economy, the wars in the Middle East, health care reform and the environment is the one of the best things of 2009. PINOY writers Jon Melegrito (See Letter from Washington, page 23) and Frank de Leon (See editorial, page 5) have competently tackled the summing up of this challenging year. For our own community, the top news came about when a $30 million attachment in last February’s stimulus bill finally provided the relief and back-door recognition to the heroic service of our Filipino veterans who served in World War II. The 25-year struggle saw victory as soon as President Obama took over the White House.
Manny Pacquiao graced the cover of TIME shortly before he won his historic seventh world title. TIME surely has regretted confining him in its the Asia edition. The US edition carried the lengthy story but put Hilary Clinton on that week’s cover. Sport writers unanimously picked Manny as the Boxer of the Decade. (Online archive of TIME only provides six covers with Filipinos as subjects. Manuel Quezon was the first when he became the Commonwealth President in 1935 followed by Manuel Roxas in 1946 when he was elected first President of the Second Republic. In 1953,
TIME featured Ramon Magsaysay causing Filipino nationalists to speculate that the CIA is the Guy’s backer. In 1966, Ferdinand Marcos was on TIME for his support of the Vietnam War which the magazine supported. In 1986, Marcos was back but shared the cover with Candidate Cory Aquino. The first issue of the following year had Corazon C. Aquino alone with first and only Filipino to be the magazine’s Person of the Year.)
Common Good
Something good came out of Cory’s death last August. Filipinos remembered their heroism as a people as they gathered in EDSA in 1986 to end a dictatorship. Also, out of Cory’s demise came the passing of the torch to his son, Sen. Benigno Aquino III. He is expected to carry on the crusade of reform and to end corruption in Philippine society. A related good news was the voluntary stepping down of Sen. Mar Roxas as the Liberal Party standard bearer to give way to Noynoy. Roxas is the grandson of the late President Roxas. It bodes well to see young leaders subordinating their personal ambition to the common good.
The heroism of the Filipinos was manifested in the selection of mobile-teacher of the poor, Efren Penaranda, as CNN’s Hero of the Year. Our kababayans acted as one in casting their votes for Efren. Last year, the people showed their heroic action in helping the victims of super-typhoons Ondoy and Pepeng. Amidst this disaster, many heart-warming stories emerged about the nobility of the bayanihan spirit shown by the Filipinos everywhere.
Indeed volunteerism has gotten into the national consciousness, thanks to groups like Gawad Kalinga who led rescue and relief work when the government acted clueless on how to face the destruction of natural disasters. GK, by the way, has been spinned off by the Couples for Christ so GK can work with more faith-based NGOs and many benevolent groups in the private and public sectors. That is the good news of servant leadership.
As we go to press, Mayon Volcano eruption has displaced 50,000. Aside from the natural disasters, the Maguindanao Massacre of 60 people including 30 journalists led the worst events of 2009. The Ampatuans, President Arroyo’s allies, acted with barbaric impunity to eliminate their political rivals. These warlords delivered a landslide victory to Arroyo in the controversial elections of 2005. Their recent action is proof that when the law is circumvented, the evil in man asserts itself.
President Arroyo further fueled the heated political climate when she filed her candidacy to run for congressperson. Former President Joseph Estrada who was convicted of plunder stoked the fire, as well, by running for president. (GMA and Erap appeared on covers of TIME Asia edition)
These unholy two got away with that outrageous conduct—that is really bad news. Bad elements will make a model out of them to pursue their vicious deeds. The year that passed ended the first decade of the 21st Century. This particular year is mirrors the past 10 when the proverbial battle of good and evil raged on. But we should never give up hope. Filipinos should continually tap on their virtues to lift the nation into country that they can all proud of…into this New Year and beyond. The best of us will prevail.•