you are correct... the parallels between now and the months before the imposition of martial law are spine-chillingly similar. Consider:
Filipinos are hungry, same then as now.
The peso is tumbling to new depths, same then as now.
Corruption is unbelievable, same then as now.
The military is given prominence, what with EDSA 2 and GMA's "war on terrorism", same then as now.
Crime, petty or otherwise, is up. same then as now.
The vast majority barely scrape an existence while government bigwigs flaunt ill-gotten wealth, same then as now.
GMA is on a second-term, same as Marcos then.
There is believed to be widespread cheating in the last election in May 2004, same then as now.
GMA showed herself to be grandly ambitious, same as Marcos then.
There's a clamor for a parliamentary form of government, same as then when Marcos wanted the same thing for himself.
The country is heavily in debt. GMA borrowed more than Erap and Ramos did combined; Marcos borrowed more than all presidents before him combined. (and surely, part of this money went to massive campaign operations [cheating], same then as now)
Before the imposition of martial law, a huge typhoon inundated the entire Central Luzon with massive flooding. Didn't we just have that some weeks ago?