Skip to main content

Payday Euphoria Before the Long Weekend Leading to Debt Burden After the Long Weekend

 

I noticed April 1, 2023, had that long busy lane because it was payday. Isn't it really typical in the Philippines when people start to spend money the moment they receive it? Above is a cartoon by Simple Sum Philippines. The conversation is pretty much like this. The guy on the left would be saying, "Wow, that looks delicious. What's there?" The guy on the right says, "It's payday today." You can imagine the attitude of people with payday. I could think about the typical conversation like, "I can't wait for payday." When payday arrives, they decide to go eat out even when they can't afford it (read here). Aside from that, there are also many ways that they end up doing so. It's like got the cash? Let's go to the mall and buy this and that, buy something they don't need instead of prioritizing the bills. 

What do you expect from people who adhere to the mentality of if it's bitter, then just add sugar (read here). I keep hearing the same line and it's very irritating to no end. It might be funny for some as a way to lighten up the mood. I'm told to loosen up and have fun. However, there's a big difference between lightening up and not doing anything about the situation. In the case of, "If it's bitter then just add sugar."--it might be tantamount to sugarcoating the problem. To sugarcoat means to make something inconvenient more acceptable. It might also mean trying to overlook a problem by seeking pleasure. It's like they have an important project to do but they choose "once-in-a-lifetime events". It reminded me of when two female classmates of mine were more concerned about a local male celebrity being in Cebu (as if he knew them) than they were about finishing our project. They even said something as foolish as, "It's just a once-in-a-lifetime event The school is always there." Well, much has changed with my college alma mater. Besides, we had a five-year limit to adhere to when taking a four-year course. 

After payday, there's the realization that it's Holy Week. Since the Philippines is predominantly Catholic, there's the long weekend from Thursday to Sunday Some are already thinking about taking their vacations. Some might even think about taking a trip somewhere not just on Christmas but also on Holy Week. I wonder how much nonsense they spent last April 1, 2023? I could imagine with the whole payday blowout, I wonder if they even have money for the long weekend getaway? Some might even be booking last-minute flights since we know wasting time is indeed more fun in the Philippines. If they booked the flight to Boracay a month ago, they would've saved more. Can I expect them to have money to pay for the flight to Boracay a month ago? 

I ate mutton biryani at Bharat Spice at IT Park last April 2, 2023, I could think about debts again. There's the nasty stereotype of there's a Bombay (a word commonly used to call Indians by Filipinos), it must be a five-six lender. I could imagine if somebody tried to borrow a loan from Indian restaurant owners after payday. So far, all the Indian restaurants I've eaten at are registered entities. Meanwhile, five-six loans aren't accredited financial institutions. I even heard from some Filipino Indians that five-six lenders would meet their would-be debtors at very shady places. The evidence is that there's no paperwork and documentation of the loans. Yet, people desperate for money will want to have money even if it means risking their necks for exorbitant fees. I was eating my biryani, almost choking on the spices, imagining the would-be reckoning with five-six lenders after the long weekend. Seeing Indian tourists around even makes me think, "Well, the next batch of Indians might be those collecting debts at excessively high interests?"

The long weekend finally arrives this Thursday. I could imagine somebody may have found an illicit loan a day after payday euphoria. If they didn't book ahead for the beach presumably due to poor management, I could imagine the digits of the loan they took. I haven't tried taking a last-minute flight to Boracay but I bet it'd be expensive.  I could imagine they would go there, dance around, and have fun during the long weekend. Meanwhile, I could imagine Indian five-six lenders must be rubbing their hands now waiting for the period of reckoning. Maybe, they might be having a chicken curry dinner to celebrate the gullibility of people who fell into their trap. 

After the long weekend, I wonder what foolishness will come out next. I could imagine Indian five-six lenders must be preparing their traps. After the beach party on Holy Week, I could imagine that they might post their beach long weekend on Facebook and Instagram. However, was the long weekend fun worth it if they still have debt burdens to pay? I can just expect after Easter Sunday, five-six lenders will start to roam around wanting to collect the money they loaned to the fools. I might just as well laugh hard and say, "It's a time of reckoning!" 

Popular posts from this blog

Venezuela as a Cautionary Tale on #SahodItaasPresyoIbaba, Nationalistic Pride, Welfare State Economics

The Sunday Guardian Years ago, I wrote about Venezuela's pride and protectionism , under a more "formal" style of writing compared to my latest posts. I decided to use an even "less formal" and "less academic" tone since I'm not writing a term paper. Instead, it's like how a professor and a student discuss the thesis using first person over third person, using contractions, etc., while the thesis doesn't use such tones. Back on track, I thought about the arrest of Venezuelan President Maduro can spark debate. Was it a violation of sovereignty? I'm no expert on international law. However, Venezuelans can be seen celebrating Maduro's arrest. Right now, I'm using Gemini AI and Google search to help me find some sources for this blog. It's because I don't want my blog to become another gossip central, but a place to discuss facts with my own personal opinions (making sure they don't  derail the facts).  I used Venezuela ...

Venezuela's Pride and Protectionism

The Telegraph Venezuela is an oil-rich country yet it's a very poor country. Somebody could go ahead and give every unthinkable reason such as "foreign investments caused it" (a blatant lie) and "It's because America had economic sanctions in Venezuela". Yet, the answer can be found in several causes such as corruption. Yet, China and Vietnam, which can be seen to still have a good amount of corruption, are far more successful. The answer also lies in one policy--economic protectionism . The very idea that a country that first world countries used "protectionism" to succeed is a lie as proven by Venezuela's ongoing crisis. A common-sense examination of one root cause of Venezuela's continuing crisis Forbes magazine mentions this in "What Do Investors Need To Understand About Venezuela's Economic Crisis?" by Nathaniel Parish Flannery on December 21, 2016: Venezuela is far and away the worst-managed economy in the Americas . Ad...

Davide vs. Mahathir: Which Lolo Should Filipinos Take Economic Advice From?

The real issue isn't that something is old or new. Instead, if something old or new still works, or doesn't work! Many modern laws are built on some ancient principles, while adjusting to the current times!  The Constitution of Japan is actually older than the 1987 Constitution of the Philippines. However, it's more effective for the reasons that (1) their constitution is silent when it comes to regulating economic activities (ex., protectionist measures), and (2) it's a parliamentary system. Honestly, it's a pretty straightforward constitution compared to ours! As Mahatir Mohamad turned 100 today, I would like to raise up Atty. Hilario G. Davide Jr. once again. The problem isn't Davide's age but his unwillingness to embrace change when needed (read here ). This time, it's time to bring up a contrast between wise old people and unwise old people. A young person can be right where the old person is wrong. A young person can be wiser because he or she lea...

From Lying About the Marcos Years Parliamentary System to Marcos Years Economic Liberalization?

Manuel L. Quezon III"s Twitter Account The first issue I've had is people saying on social media, "No to the parliamentary system because the first Marcos Administration was parliamentary!" It's really something because such people never bothered to do any further research. Please, knowledge isn't that expensive! Benigno Simeon "Ninoy" A. Aquino Jr. even stated, "We had a parliamentary form of government without a parliament." Later on, even Ferdinand E. Marcos Sr.'s own words showed that the Philippines was still presidential . Why would people still insist that it was a parliamentary form of government? Even more, I'm not surprised that some people are saying on Facebook, "Economic charter change is all about term extension." Even worse, it can be from the Philippine mass media. Sadly, the late Lee Kuan Yew was right to fall the Philippine press rambunctious in his book From Third World to First . I can refer the book t...

Ironically, COMMUNIST Vietnam Continues Improving FDI Conditions, Compared to DEMOCRATIC Philippines

Vietnam National University It's crazy how people don't realize the bigger picture between Communist Vietnam and the democratic Philippines (read here ). It's really crazy how Senator Joseph Victor Gomez Ejercito apparently thinks that delayed proceedings to Vice President Sara Duterte-Carpio's impeachment trial could scare away FDIs. Meanwhile, Atty. Renee Louise Co of Kabataan Partylist could talk about economics, all the while Kabataan Partylist is still against open FDI. It's amazing how Raoul Abellar Manuel, a cumlaude in applied mathematics, still believes in #SahodItaasPresyoIbaba economics! Meanwhile, the biggest picture is that Communist Vietnam , while it's under a One-Party State of the Communist Party of Vietnam, is has the better picture of how to invite FDIs. In fact, the Constitution of Vietnam  is rather silent on economic restrictions . The CPV chooses to impose economic restrictions through legislation rather than enshrining them in its Constit...