SENATOR Joseph Victor “JV” Ejecito was in Silay on September 7 for the blessing of the Silay City public market which he allocated P5 million. Among others, it is also his regular visit to his college classmate and best friend, Mayor Mark Golez.
Many Negrosanons advised Senator JV for his open-heart comment on how President Rodrigo Duterte manages the economy of our country. He is aware of the wailings of the Negrosanons on the inflation rate that already reached 6.7 percent. A kangkong vendor does not know much about inflation rate but he is aware of the high price of rice, of the common shoreline fish, of his ordinary bread for coffee, and the many grocery items.
The good senator with a Silaynon mother expressed his apprehension while participating in a Senate debate for the passage of the Tax Reform for Acceleration (Train) Law. He anticipated that this would really cause inflation, especially food inflation. That could be the reason why he is not interested in the passage of Train Law 2. This would bring our country to economic disorder.
“Hombres de calle” and even some of my fellow libertarians at la Mesa de la Libertad do not understand very well the meaning of inflation and its effects in our day to day existence. Inflation is a general rise in prices brought about by an increase in the ratio of currency and credit to the goods available. Moderate, controlled inflation is normal and helps to maintain full employment, but uncontrolled inflation leads to a boom and a slump.
Inflation is so complicated. It is “demand-pull inflation” if an increase in demand or in many supplies causes prices to rise. It is ‘cost-push inflation’ when wage increase and other increased product costs cause in the rising of prices. When we talk means of production as against inflation that is “hedge.”
This thing we call “inflation” is beyond common understanding. The official price index issued each month, used as a guide to inflation is “retail price index.” Someone would say that this Train Law is for “Build, Build, Build” that causes “Spend, Spend, Spend” from “Borrow, Borrow, Borrow” and if it fails... that becomes “Blame, Blame, Blame.”
If things would fall into disorder, we are just giving Duterte the opportunity to declare the real Martial law. Of course, others are already calling our present situation as under the state of ‘pseudo-Martial Law’. Hunger sips in first considering that the one-fourth of the budget of the poor is for rice. This is not our destiny (meant to be) because the Philippines is an agricultural country.
Ejercito is correct when he told the Silaynons and the Negrosanons that there should be safeguards on inflation. He left words to thrill the Silaynons. He will look into the possibility for an additional P8 million budget to complete the rehabilitation of the public market. A tail for this is an additional allocation for Silay City public plaza and fountain.
“Senator JV, make it happen. Silaynons will live to see that promise becoming a reality. You are the son of Silay!”