Forget about the hallucinations of Larry Gadon and the incorrigible spokesperson Kler Castro that life is better now under the government and administration of President Ferdinand “Bongbong” Marcos Jr.

Department of Trade and Industry Secretary Cristina Roque gave us what Christmas will be in no uncertain terms. The Noche Buena is one of the most-awaited midnight feasts in every Filipino home in observance of the birth of Jesus Christ.  

Generally celebrated with lechon, ham, spaghetti, beer, and softdrinks, DTI now tells us that that is a thing of the past — for what a family can afford for Noche Buena under the present dispensation will just be worth about P500. With that, she suggests each family can have their favorite spaghetti or macaroni salad, or a can of sardines. 

DTI is giving us a picture of what is in store at the table for Christmas; Roque is telling us the true status of the economy.  The Philippines has the longest Christmas celebration in the world so stretch that P500 budget and figure out how the loose ends will meet. 

To assuage the dampened spirit this Christmas following the grand scale of corruption unprecedented in Philippine history, Ralph Recto, the former Finance head and now the new Executive Secretary, declared that 2026 will be a better year. But the fundamentals that could back his prognosis are not there. The putrid stink of the magma of corruption is driving away investors, domestic and international. 

By its own making, this administration cuddled up to then-US President Joe Biden, hoping that by doing so, the US will open its markets to Philippine products and for American capitalists to come running to invest in the country.  It was a pipe dream. What we got instead were nine EDCA military bases packaged as facilities principally to help the country in times of calamities. Then, some war freak declared that a missile launched from any of these bases will reach China.

Round 2, PBBM tried to wangle a trade deal, this time with President Donald Trump. We became a laughing stock. While other ASEAN nations were granted zero tariff on their exports to the US, the Philippines was slapped with a 19 percent, while the US exports enjoyed zero tariff on their products that enter the Philippines. 

Marcos’ foreign policy sold us down the drain. It was a double whammy for our fledgling economy. We lost the Chinese consumer market, which is the much sought-after world over, not only because of the government-led “hate China” policy, but also the endless saber rattling of our defense officials.

And so here we are with P500 worth of Noche Buena, which by the standards of today’s economic gurus is substantial enough for a family of five. Let’s brace ourselves for what will come next.