Great expectations

“Great Expectations” is also a novel written by Charles Dickens. I did not read the book or see the movie but I remember the gist of the story, since I had read the comics version when I was 11 years old. My cousin had closet full of comics which included all the fairy tales, Superman, Batman, Marvel, and even the classics. It is about a young man’s journey from a poor childhood into a privileged adulthood, and how the power that money and social class have changed him. This young man had “great expectations” about the changes in his life. This usually happens to many people but this is especially true of politicians who come into power and money. The social relevance of the story is timeless, and there is even the denouement at the end where the wealth of the main character is confiscated by the government for being the earnings of a criminal activity. For this column, we are delving not on the expectations of the politicians, but the expectations of the many voters who voted for them, and of the rest of the citizens of the country.

The election in 2022 was flooded with disinformation and misinformation that included absurd/impossible information and promises. I heard a middle-aged man telling about the Marcos gold and wealth that will be distributed to the people after the election and pay off all the government’s debt, and that the World Bank is actually owned by the Marcoses. There were stories that each Filipino family would get ?100,000 a month from the government if BBM wins. These were told together with the revised narrative of the martial law years as the “golden age” of our history. The uninformed and marginalized voters who rely on selected social media feeds, together with the ?1,000 (at least) were the many believers and are now waiting for the rest of the promises, including the ?20 per kilo rice. These are their great expectations.

At the current state of the Philippine economy, with the unabated rising prices of oil and commodities, rising inflation, increasing poverty levels, and the consequent slower economic growth, it will be very difficult to meet even the minimal expectations. The unrealistic promises will have to start with the payment of the ?203 billion in real estate taxes. While the country is not expected to go into an economic recession, the self-assessed food deficiency and poverty incidence will increase. The current debt level of the government will make it unable to increase the social safety nets and subsidies to alleviate the hardships of the lower classes. The peso devaluation will benefit the OFW families and the BPO employees, but these will be negated by the rising prices. The economy will still grow and Filipinos who are used to hardship will survive, but they will remember the promises.

The condition of the Philippine economy in the coming years will weigh in on the political situation. The election results have confirmed the hold of family political dynasties on the public offices and the largesse that comes with it. Unqualified family members and celebrities were elected. Graft and corruption, which was targeted for eradication even by the outgoing administration, continues unabated and supporters are rewarded government positions. Vested interests are not even covered but displayed. For those on these gravy trains, their expectations may be met, but for the rest of the population their great expectations means great disappointments.

These economic and political realities of the Philippines are not sustainable in the medium and long term. Just a glance at our neighboring countries like Sri Lanka and Myanmar, will tell us that we have to shape up to avoid their current conditions. Political family dynasties, military authoritarianism, fiscal mismanagement, and unqualified political leadership will bring the country to ruin. There are enough Filipinos with brains and talents to avoid this situation and there should be enough Filipinos who love their country to prevent these from happening.