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Seven years ago, Marcos came to power as an immensely popular reform President, but opposition to his regime has been growing rapidly in recent months. Large sectors of Philippine society are waiting for tangible relief from poverty, inflation and a political system that remains responsive mainly to a propertied oligarchy. Land-reform programs remain unfunded; more than 400,000 of the country's 1,000,000 university graduates are without meaningful jobs. The benefits of the country's gradual economic expansion have been slow to trickle down to most of its 38 million people. As a result of this summer's record floods, which devastated much of Luzon and set the economy back five years by some estimates, that trickle will be slowed even further —perhaps with explosive results.