Martial Law entails billions of debt left by Marcos

Martial Law entails billions of debt left by Marcos

- A netizen calls for Martial Law claiming that the economy was better during Marcos’ regime

- A sociology professor debunked this myth by saying that Martial Law is indeed one of the worst periods in Philippine economy

- The discussion about Martial Law and Marcos is prompted by the issue about Marcos’ burial and backed with the support of the president

A post of a netizen went viral as it advocates President Rodrigo Duterte to declare Martial Law.

Martial Law entails billions of debt left by Marcos

(Screen grab from Facebook)

READ ALSO: ‘Bato’: will follow Duterte even through Martial Law

While some people think that kids nowadays do not know what they are asking for, some netizens glorify the Marcos regime and Martial Law saying that the economy was better during Marcos’ time.

Some Marcos’ supporters argued that people should not use the projects that Marcos built if they are against his family and the legacy that he left.

In a short video, Sociology Prof. Walden Bello explained the real state of the Philippines’ economy during Marcos’ dictatorship. According to him, Martial Law is one of the worst periods in the Philippine economy as Marcos borrowed money from international organizations.

READ ALSO: Duterte’s tattoo could be the key in understanding his pro-Marcos stance

The debt rose up to $26.5 billion that the succeeding governments have to pay. However, the money went to Marcos and his cronies. Marcos stashed away $4 billion in his personal Swiss bank accounts and in his other bank accounts.

Moreover, 46.5 percent of Filipinos are living below the poverty line. This means that almost half of Filipinos are poor.

Martial Law is one of the dark times in Philippine history as extrajudicial killings are rampant. Moreover, Marcos’ critics are silenced by the military and Marcos’ supporters.

This renewed discussion about Martial Law and Marcos was prompted by the issue of Marcos’ burial in Heroes’ Cemetery and President Rodrigo Duterte’s support to the motion.

READ ALSO: Dear President Rody: Keep MARCOS in ILOCOS

Watch the short explanation of how the economy was during the Martial Law.

Watch the full episode of History with Lourd for an elaborate explanation about the conditions during Martial Law below.

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