Over My Debt Body

HERKURT TAMBA

In a world full of stakes, risk is a defining variable that causes reward or loss at the end of every choice. What comes along in every decision-making process is the primordial function of risk-taking—how one manages his willingness to seize an opportunity with life’s volatility.

The recent controversy over the investment ploy of the current administration captured the keen eye of the general public. Probing the provisions of House Bill 6608 exposed substantial loopholes that leave questions about the proponent’s capacity to manage the risks at hand. Given the present economic status quo in the Philippines, a risk-based project without adequate planning and management is like dancing with the devil.

In the light of the Maharlika Investment Fund (MIF), the model was initially framed on the idea of a sovereign wealth fund, a state-owned investment fund consisting of governmentgenerated funds, typically drawn from a country’s excess reserves. With this in mind, magnifying the administration’s aspiration to establish an investmentdriven income radix laid bare some of the intriguing and vulnerable fundamentals that this pursuit stands on. One is the “surplus” concept, which caused tumult on its first presentation in the House, Sen. Pimentel elucidated that it’s messy and yet it’s so basic since the Philippines is burdened by its towering debt accounting for P13.6 trillion, a record high level as per the Bureau of the National Treasury, increasing by 0.02% or ₱3.15 billion from October to November last year. On a bright spot, BSP recorded a BOP surplus of $612 million in December 2022, compared to a deficit of $756 million in November and a surplus of $991 million in December 2021 (GMA News). Yet, this is just the tip of the iceberg; the surplus cannot offset the outstanding deficits recorded in prior months, as the full-year BOP position was at a deficit of $7.263 billion, reversing the surplus of $1.345 billion reported in 2021. To put it simply, the risk is getting riskier. In investing, the golden rule suggests that invest only what you can afford to lose. Looking at the Philippines’ financial state, the motherland is billions away from paying its credit obligations, and the country’s year-to-year debt pile is swelling further and bigger.

Despite the fact that we are still in the prologue of this massive undertaking, we are already sailing red. According to retired Justice Antonio Carpio, the Maharlika Investment Fund is a “losing proposition.” The fund’s annual return is anticipated to be between 7% and 8%, while the interest on its debt-funded equity, including operational expenditures, will be 8.9%. Moreover, Carpio pointed out that, before establishing the fund, he believes that it would be prudent for the government to lower the debt-to-GDP ratio from its current level of 64% to the pre-pandemic level of 40%. This means that the country is lagging behind in terms of improving its production forces; as a result, interventions and a sound economic framework should be preeminent in the government’s prioritization matrix.

In the first outline of the investment fund, funding and capitalization are provided to be pooled from Government Owned and Controlled Corporations (GOCCS) and Government Financial Institutions (GFIs) such as GSIS and SSS. This stipulation rolled out the red carpet for media groups, economists, and political circles to scrutinize the proposition of the authors as to why such an extent of financing is necessitated in the capital derivation. Conversely, Article III, Section 9 of the Constitution states that private property shall not be taken for public use without just compensation, so the mandate of the Maharlika Wealth Fund simply overlooks the rights of every Filipino who continues to toil and forage for a just living. The provocation took a positive note among the implementers, thereby excluding the two institutions from the probable fund sources as per the latest revisions of the House Bill. Accordingly, the public backlash dealt a heavy blow to the removal of the subjects, given that these state pension agencies are primarily reliant on premiums paid by their members. With this critical shortcoming emerging from the plan’s framing, it should be obvious that the government’s legislative body should take the pacing at the most resolute and decisive interventions, rather than hastening, because it would result in engendering multitudinal risks in monetary and fiscal policies.

Following the perplexity of this state-funded investment, there are also significant reversals that were identified to cause torsional effects on the Constitution. The attempt to utilize the gross international reserve of the BSP will override the established precedents and the central bank’s charter. At the same rate, the violation to the Dividend Law of 1993, the overturn of the one-fund concept, and moreover the lurches that will trigger the financial system of the country forcing the government to borrow to compensate for the loss in these times of volatile interest rates.

Clearly, MIF is an answer at the wrong time. Planning should be grounded in the needs of time, and leaders should be adaptive to the changes it brings. The ongoing economic distress: consumers are hurting from exorbitant prices; workers are losing ends to survive; the government is hampered by financial obligations; and, ultimately, Filipinos are living on the precipice of tomorrow’s uncertainty. We cannot risk more than we can make.

#PaSTILL pa rin sa UmaTangHap (Umagahan, Tanghalian, Hapunan)

ng reyalidad ang mga Pilipino patungkol sa patuloy na pagtaas ng mga bilihin. Ika nga nila, ginto na ang bawat nitong mga halaga. Dagdag pa, kung may isang libo ka lamang ang mapapaggastusan ay para itong isang bula

Ito ay isang nakapanlulumong katotohanan

Sa sampung piso ko ay may ulam at kanin na. Maliban sa abot-kayang halaga ay tunay ngang hindi ito tinipid sa lasa.

HANGGANG SAAN NGA BA AABOT natitira sa iyong

ANG SAMPUNG PISO KO?

Bilang isang Iskolar, saksi at dama ko kung gaano kamahal ang mga bilihin lalo pa’t pagkakasyahin ko ang aking baong limang daan sa isang linggo. Higit pa sa sampung pisong barya ko ay mabubusog na ako! Tanong ng mga kaibigan ko, ano nga ba ang nabibili ko dito.

Pastil! Pastil lamang!

Ito ang naging kasagutan ko sa kanila. Sa sampung piso ko ay may ulam at kanin na. Maliban sa abotkayang halaga ay tunay ngang hindi ito tinipid sa lasa.

SA AMING MAGIGING BAGONG KAINAN!

“Nagbalon kamo?”

“Wala ba.”

“Ta Pastil ta!”

Ito na ang naging bukambibig ng aking mga kaklase tuwing kami ay kakain na ng tanghalian.

“Diin ta?”

“Tanghal o ASSSA?

“Sa engineering naman ta a!”

Natutulala! Nakatunganga!

Ilang minuto pa ang aming pagtatalo bago makapag desisyon kung saan nga ba kami dadalhin ng aming pagkagutom.

“Ta sa Engineering na lang ta.”

“Dalian niyo na!”

“Arat!”

Sa wakas at mapapawi na rin ang gutom na aming nararamdaman. Salamat at sa huli ay nasolusyonan na rin ang aming pagtatalo kung saan ba kami mapaparoon.

Ayon nga!

Pagkarating sa Engineering, isa-isa nang bumili ang aking mga kasamahan. Kanya-kanya rin sila sa pagpili ng toppings. Mayroong pumili ng chicken flavor mayroon ding tuna flavor habang ako ay nagiisip pa rin kung anong toppings ng pastil ang aking bibilhin.

“Pastil Ante, chicken flavor lang.” Banggit ko sa tindera. “Tagpila Te?” Tanong ko. “Sampung piso lang ga.” Sagot ni Ate.

“Ari bayad ko Te oh!” Pasaad ko. Bago ako umupo sa aming pwesto, tinanong ko ulit si Ate na itago na lang natin sa pangalang Marie. “Te ngaa ginabalikbalikan gid sang mga estudyante ang imo pastil biskan ano pa kalayo ang ila baktason?”

“Depende sa pagluto Ga at kanya-kanya na itong diskarte kung paano namin mas mapapasarap ang aming Pastil dahil alam mo naman marami kaming magkakompetinsya sa ganitong uri ng negosyo. Kung wala ka talagang ideya kung paano mapapaangat ang iyong binibenta talagang wala kang costumer.” Sagot at pagpapaliwanag ni Ate. Ako ay napangiti na lamang at pumunta na sa pwesto ng aking mga kasamahan.

“Mars, kaon na namit man gid diri ang ila Pastil, damo toppings kag barato pa gid. Hindi gid siya gitipid ba.” pangyaya ng kaibigan ko. “Ay bus-ok man gid Mars kag namit man gid gali. Lain gid siya sa iban nga pastil nga natilawan ko. Bet ko siya. Daw diri na ta pirme magkaon haw.” Kalma kung pagsasang-ayon. Pagkatapos naming kumain ay agad na kaming nagsipagtayo upang umalis.

“BALIK-BALIK LANG KAMO!

Ito ang mga katagang aming narining mula kay ate Marie bago kami umalis. “Mabalik gid kami liwat di te ah!”, ang naging tugon ng aking kaibigan.

Habang kami ay naglalakad patuloy pa rin ang aming kwentuhan tungkol sa pastil na aming natikman. Ngunit sa bawat kwento ng pastil ay may mga katanungan kung paano ba ito ginagawa o ano nga ba ang proseso sa paggawa nito.

#PASTIL PASTIL: PAANO KA GINAWA?

Ang pastil ay isang kilalang pagkain ng mga Pilipino. Ito ay gawa sa tinimplahang adobong durog na manok o isda kagaya ng tuna na hinahalo sa kanin at binabalot sa dahon ng

“Ta kaon na ta!” Pangyaya na ng aking kasamahan.

“Dali na, sa engineering ta liwat a.” At ayon nga, sumang-ayon ang lahat na babalik na naman kami kina ilang Marie.

Sa muli naming pagkain doon, hindi ko sasayangin ang pagkakataon na siya ay tanungin kung paano ba nila ginagawa ang pastil kung kaya’t ganon na lang ‘yon kasarap at kalinamnam.

Pagkarating sa Engineering, aming nadatnan

Pagkalipas ng ilang minuto, sa wakas nakabili na rin kami.

“Ante, pwede mamangkot?” Tanong ko sa kanya habang siya ay abalang-abala. “Ano to ga?” Sagot niya. “Mahimo abi ko article te about sa pastil, kung di kana busy Te ah mamangkot man lang ko kung paano mo ginaluto ang imo nga pastil.” “Pwede naman ngayon ga, ito man lang ang aking gingawa.” Kalmado niyang pagsagot.

“Paano gali te?” Aking pagtatanong. “ Ang una kong ginagawa ay magluto muna ng kanin at ito ay nilalagyan ko ng pandan. Pagkatapos ay isasantabi ko muna ang kanin at niluluto ko na ang toppings. Kung karne ng manok ang magiging topping pinakukuluan ko muna ito pagkatapos makuluan ay hihiblain na at ito ay igigisa sa bawang, sibuyas at luya. Para mas maging masarap ay dinadagdagan ko ito ng pampalasa kagaya ng tuyo at patis.” Pagpapaliwanag ni Ate Marie.

“Ay amo gali na sekreto mo te ba ngaa kanamit kag ginabalikan gid ang imo nga pastil diri” “Oo ga, dapat may halong pagmamahal sa pagluluto.” Pabirong sagot ni Ate Marie habang nakangiti.

PAKIKIPAGLAYAG SA KATOTOHANAN!

Pastil sa umaga, pastil sa tanghali, pastil sa hapunan!

Ito ang katotohanang araw-araw na hinaharap ng mga MSUan na katulad ko. Patuloy na nakikipagpatintero sa reyalidad na kahit pastil lamang ang magiging umagahan, tanghalian at hapunan ay okay na basta mabusog lamang sa halagang sampung piso.

Pastil lamang ang malakas!

Sa katunayan, masasarap ang pastil na binibenta sa loob ng Pamantasan sa iba’t ibang kolehiyo. Sari-saring lasa ang matitikman kaya tunay ngang sa sampung piso mo ay mabubusog kana at mapapasabi na lamang na #socrazypastil.

On Pioneering a Satire Shat Cult: Diving on why and how ‘Our Lady of Casa Mia’ tipsied MSU

OUR LADY... OF CASA WHAT?

To clarify this absurd movement, our team interviewed one of the pioneers of Our Lady of Casa Mia (OLCM), who refused to reveal their identity but is well-known as the ‘high priest’ of the group.

OLCM is a made-up satire religion started by a group of friends of the ‘high priest’ when they attempted to mask the party gatherings at Casa Mia Hotel, an infamous drinking spot of most MSUans after spending the weekday academic distress and strain. They called their party gatherings as ‘mass’, reminiscent of the pious terms of

OLCM is quirky - and massive! We can’t fully articulate how it even snowballed this big - to the point where the pioneering circle of OLCM keeps a direct communication with Casa Mia Hotel’s cashier to keep up with the nightly

It was during and post-intrams when the OLCM mass almost became a daily staple among the MSUans. The common Sentro, Uhaw was an abundance of shot glasses, neon lights, and intoxicated throats - and the singing of Pintaflores chant, which up until this interview, is a puzzling ritual.

“That [was] actually happened by accident. We have this new friend, Rhea Joyce C. Mozo, the one who sang Pintaflores Festival during Miss MSU, and everytime we see her, we will chant “Pintaflores” at the top of our lungs as our friendly greetings to her. Then, since we kept on seeing her in OLCM, and the chanting continues everytime we see her, then it became hyped in the circle to just sing Pintaflores every mass,” the

FREEZE! THIS IS THE POLICE!

It was November 25 when the best-worst day of Casa Mia Hotel resets the OLCM movement. It looked like a Facebook newsfeed of shattered beer bottles, a fistfight with flying chairs, and the infamous pick-up police car.

‘There was a commotion on the last day of intramurals and the “mass” wasn’t really rendered,” the high priest gave context on the issue.

According to the interview, there was a non-MSUan who visited Casa Mia Hotel and started a fight last November 25, 2022. The dispute escalated until the police swung by the hotel and intervened amid the havoc and disturbance. The party stopped.

The frustration of the OLCM devotees was apparent across all social media platforms. For a day or two, the word ‘Casa Mia’ became the repetitive word that flooded Facebook and Twitter - and the word ‘police’ dangled at the end. To an extent that James Mozo’s public post of a police car gained 800+ reactions and 190+ shares, and Mubarak Maliga Tahir’s post, dubbed the Intramural 2022 Chismis Correspondent, gained 900+ reactions and 190+ shares.

But of course, MSUans are resilient and adamant; they don’t end things on a cliff or empty-handed. After the ambiguous frustrated postings, it had just been two days when, like mushrooms sprouting out of nowhere, several violet profile picture frames flooded the MSU Facebook pages - suggesting a ‘redemption party’ or a take-two from the disappointing November 25 fuss.

ENDOWED ARE THE REDEEMED...

“So, we decided to have a Redemption Party and dedicated it to our friend Mama Coco [identity kept anonymous],” the high priest explained the abrupt DP blast, which had a satirical, poetic, and prayer-like caption, ‘Dear Skydad, if you hear Skydad / Make the outsider disappear.’

“We proposed that one of our friends make a pubmat of the event and the members of the chat posted it on their FB and IG stories,” the high priest elucidated. “We asked our other friend to make an FB Frame for everyone to join the simultaneous DP blast.”

As if two working days is such a short time, the DP blast peaked on November 27, just literally 48 hours after the November 25 commotion.

EMBEDDING AN IMPACT!

“Then the OLCM hyped up on all social media platforms, and everyone kept on asking me through dm to add them to the group messenger,” the high priest said.

Soon, the pioneering circle made an OLCM Facebook group to add their devotees and publicize their future events exclusively to their attendees. As of now, the OLCM Facebook group has 140+ active members.

Aside from the usual inebriated “mass” at the Casa Mia Hotel, the OLCM devotees were also invited as an audience to several poetry nights. The BLCK Café’s Poetry Night was one of these events that OLCM partnered with. “We have another event kasi sa Buntod campground, a poetry night since the owner asked us to spearhead it,” said the high priest.

OUR LESSON FROM SKYDADDY Spontaneity, Camaraderie, Resilience, and Escape.

Looking at a holistic glass, it was the spontaneous disposition of the MSUans that bolstered OLCM to its limelight, camaraderie hardened its mold when MSUan strangers united to a bibulous goal, and its resilience showed during the unprecedented times of November 25.

But moreover, it’s the escape that defined OLCM. Amid the academic and extracurricular pressure, OLCM was the avenue of retreat from being a worn-out isko and iska, desperately keeping up with the tides of being a college student in a state university. It was just the perfect combo when the hyped Intramurals 2022 flourished; OLCM was an escape.

The most bizarre fact that still blows my mind up to this day is how OLCM was crafted in less than a week. Most trends and movements that proliferate the MSU strata would take at least a month or so to gain enough relevance and traction; Our Lady of Casa Mia was the outlier. As if satire was stripped off, it’s Skydad’s fineness and work.