Quote Originally Posted by jhnkvn View Post
We already tackled the fact that debt is not a good and bad always scenario. Why do you think the international community were giving us cash? Truth is there was rapid industrialization was happening all around.

Again, let's take China. In 1958 to 1961, Mao Zedong launched an socioeconomic campaign called the "Great Leap Forward" with the hopes of transforming the farmers into an industrial powerhouse. This campaign was often cited for human rights violations on a scale of millions with the famine claiming a toll of 18-45 million. Similarly in real GDP %, it was a whopping -27% and -5%. Imagine your GDP chopped off by a third.

But the years afterwards as China instituted reforms that once weak economy transformed into a global powerhouse. Now that is with vision. Look at Mao Zedong.. his critics view him as the principle person who initiated mass genocide, nationwide human rights abuses, forced labor, etc. but what do the younger generation view him? They highly regard him as one of the most important individuals in Chinese history and crediting him in building China into a superpower to be reckoned with.

Marcos.. well.. we can say he mismanaged, people disliked him, and now he's viewed as somebody equal to Hitler probably. But what if he succeeds? History is on your side.. no doubt about that because what's done is done. We can judge because we already seen the grass, but what if the grass is greener on the other side?

If you want to bet on it, go to China. Ask people around what they view Mao Zedong as.. and I'll bet a million pesos that he's more revered than hated. Funny as it is, atrocities are forgiven when the good justifies the bad. That's how ironic mankind is. But if growth translates into food on the table.. hell yeah.. who cares.
Let's stick to Marcos. Debt is not good or bad?

bankrupt central bank, massive inflation, us exchange more than 500% peso depreciation, minimal employment. Yeah debt is not good or bad.

All of these for infrastructure with no ROI in anyway. Iikot lang tayo sa "look at the other countries".

Let's point it to evidences, how is our country now after Marcos? It will still boil down "are we better off". Just look at the numbers first of the Philippines economy before and after. No more "what if".