The Economic Ignorance of Supporting Excessive FDI Restrictions While Overspending on IMPORTED Luxury Items

Asteria Lending

The long weekend is over and it's back to work and school, right? I was reminded of a conversation I had during the 2016 elections. An issue I rose was specifically was that "Regardless of who wins, the candidate must work hard towards the removal of economic restrictions." I received one stupid answer that made my jaw drop, "Why will you let them invest in here? Only FDIs will get rich!" So says the person with very expensive taste. The person has a taste for imported luxury items. He goes out with people with expensive tastes.

I was reading about the news of how Apple would have a factory in Communist Vietnam. It's really ironic how some people I know who are anti-FDIs are using Apple luxury products. I even remembered one person I argued with (and trolled to expose his inconsistency) that he hates FDI while using an iPhone. I'm not too surprised to learn of some members of the CPP-NPA who are using MacPRO laptops. There are also people who are very much anti-FDI and are using imported devices, imported platforms, etc. in their rants (read here). I wouldn't be surprised if "thought leaders" like Bayan Muna, Kabataan Partylist, the League of Filipino Students, Migrante International, etc. have been using luxury products to spread their propaganda. Wait, aren't they supposed to be holding nationalistic views in favor of protectionism? That's why I think using social media (read the irony here) and blogging platforms to promote Pinoy Pride Economics is self-contradictory

I wouldn't be surprised if I'd catch these anti-FDI people shopping for imported luxury items. It might be the release of a brand-new iPhone or a new luxury bag. What happened to the call for Pinoy Pride economics? What happened to the call to support Filipino First? What happened to the teacher saying that so and so only buys local products as a character to develop? I could imagine if these same people who were saying, "Buy Pinoy! Support the economy! Down with America!" (in American-made social media) were ironically using an iPhone. Then they might say that they were only "forced to participate" in it? Was Apple (or any luxury brand company) forcing them to buy their products?!

This is why I can say it's frustrating to discuss economics with an overspender (read here). After all, budgeting money is also part of economics. If you studied basic middle school and high school economics, you may run into the truth that learning to save one's money is part of economics. You need to save more than you spend. For an overspender, the word budget hardly fits into their vocabulary. Why go abroad on an expensive trip if you've got heavy expenses? Why splurge the paycheck you just got when you've got other expenses? I guess for extravagant people, economics is a stranger to them. The word "economize" hardly exists in the vocabulary of extravagant people.

The Malaysian-Filipino Sweet Tooth Demographic

As a Filipino, I've observed the Filipino diet tends to lean on a sweet tooth. What causes this probable genetic disposition of the Filipino to crave sweets? That trait might be traced to one's ancestors. Newsweek also mentions it might be with the DNA . The Malaysians and the Filipinos have close genetics. The Britannica also cites this about Filipinos: The ethnically diverse people of the Philippines collectively are called Filipinos. The ancestors of the vast majority of the population were of Malay descent and came from the Southeast Asian mainland as well as from what is now Indonesia . Contemporary Filipino society consists of nearly 100 culturally and linguistically distinct ethnic groups. Of these, the largest are the Tagalog of Luzon and the Cebuano of the Visayan Islands, each of which constitutes about one-fifth of the country’s total population. Other prominent groups include the Ilocano of northern Luzon and the Hiligaynon (Ilongo) of the Visayan islands of Panay...

Learning Mandarin Chinese Through Melons

Hanlin Language Center In pursuit of encouraging people ot learn Mandarin Chinese, here's a chart teaching the different types of melons in Chinese. Learning how to speak Chinese with these melons would be a productive exercise. Aside from using what was often called bon toi in the Chinese schools, it might be good to help people memorize these types of sentences, with the translation: Chinese: "天气热，想吃西瓜." (Tiānqì rè, xiǎng chī xīguā.) Translation: "It's hot, I want to eat watermelon." Chinese: "你想喝冬瓜茶吗?" (Nǐ xiǎng hē dōngguā chá ma?) Translation: "Do you want to drink winter melon tea?" Chinese: "我要做南瓜派." (Wǒ yào zuò nánguā pài.) Translation: "I'm going to cook pumpkin pie." Chinese: "用黄瓜去眼袋." (Yòng huángguā qù yǎndài) Translation: "Use cucumber on your eye bags." Chinese: "苦瓜对你的健康有益." (Kǔguā duì nǐ de jiànkāng yǒuyì) Translation: "Bitter gourd is good for your health." Chin...

A Consequence of Adobe's Subscription Model?!

As I look at this video, I don't regret not opening an Adobe account. I used Adobe Photoshop back in college--back when I could borrow someone's CD and install it on my computer. However, paying thousands of PHP monthly is ridiculous for a casual user! Why would I pay thousands of PHP just to produce artwork that I'm not even selling? Back then, I used Photoshop mostly to relax during semestral breaks in college. What happened to the good old days? As I listened to this video, I was disgusted at how Adobe could be a "Get Rich Quick Scheme" against its customers. Instead of selling Adobe Photoshop (or any service) outright (that's until the newer version arrives), they decide to use the subscription model. I could understand if Adobe offers a subscription model for intensive work that requires intensive power. Meanwhile, Adobe could offer a one-time purchase of any of its software for non-professional use. This reminds me why relying on past successes isn...

Keep Calm and Continue Investing in Stocks, Despite the Current Situation This 2025

FQ Mom It's no secret that U.S. President Donald J. Trump's tariffs may backfire . Should I even be surprised at the results that the global stock market are going low? It's something to think about why I didn't get invested in stocks ASAP. It's because I don't have a calm personality. However, I realized that the key in stock market investing is, "Keep calm and invest long term." Nobody should ever think of investing in stocks hoping to get rich quick fast! The FQ Mom provides useful advice that I should do, as I check my equity funds at an almost daily basis: 1. Understand the stock market. It is the avenue where we can all participate in the ownership of the listed companies. This facility that allows us to buy and sell stocks with ease anytime during trading hours also goes with a “price.” We see the stock prices go up and down like crazy every second, something that does not happen in other asset classes. To borrow from Benjamin Graham in h...

Getting Nuts About Standard Chinese, By Learning About the Chinese Names of Nuts

Hanbridge Mandarin In pursuing the need to teach Mandarin Chinese, it's important to deviate from the old-fashioned Chinese language education (read here ). Instead, we need to get people interested in basic vocabulary. This would be a good exercise to learn from basic sentence making and conversations. Here's an example of what's called bon toi back in my day. Let's think of learning Chinese through nuts. Question: 你想要巴西坚果、核桃、杏仁还是腰果? (Nǐ xiǎng yào bāxī jiānguǒ, hétáo, xìngrén háishì yāoguǒ) Translation: Do you want brazil nuts, walnuts, almonds, or cashews? Answer: 我想要杏仁，非常感谢. (Wǒ xiǎng yào xìngrén, fēicháng gǎnxiè.) Translation: I want to have almonds, please, thank you very much. However, there's a mistake in the chart because the coconut isn't a nut. Instead, it's a coconut fruit of the coconut tree, of the coconut palm family. The song was written by Filipino musician Ryan Cayabyab. Now, it's time to enjoy learning Chinese through learning about n...

The Lesson of "Bad Genius" is More Than Just "Cheating Never Pays Off"

Sometimes, much truth can be told in fiction, right? Talk about how the great Jose Rizal revealed much truth in his fictional novels Noli Me Tangere and El Filibusterismo . The digital age today would create more entertaining media. I may encourage book reading over movie watching. However, some movies may do more than entertain. They can also address a real issue. It was said that a cheating scandal in China inspired the producers Jira Maligool and Vanridee Pongsittisak to create the film Bad Genius . Right now, there's even a TV series presumably because a movie can't always deliver the message one wants. How does the whole thing go? I was inspired to watch this film because of comments from a Facebook friend's post. The post also talked about how students cheat because the system cares more about grades than learning. As the world becomes more global, exposure to Thai cinema is definitely not surprising. Sure, one can talk about the South Korean wave or the increasin...

Why I Support Taiwanese Politician Yeh Yi Jin's Proposal for Taiwan to Drop Zhuyin Entirely (in Favor of Pinyin)

Taiwan News It may be news from 2018 (meaning, five years ago) but as a person who sees the importance of Mandarin in the international market, I still want to react. Not surprisingly, Yeh Yi Jin lost the Tainan mayoral bid because of her controversial statement to abolish Zhuyin from Taiwan altogether . She may have lost the race but I'm still supporting her for this. It's not because I kept failing hard in Zhuyin back in my days. It's because I feel that as time goes on, some things need to be dropped like asking students to submit their reports written via typewriter or asking documents to be faxed when email (and modern standard mail) are more reliable. Like I argued with an investment before, I said, "You can't fax a book. Can I just mail it?" The bank kept arguing it had to be faxed. Unfortunately stubborn boomers, stubborn boomers, everywhere, right? From The Free China Post , this is what's said about Yeh's argument: Yeh argues that using zhuyi...

The STUPIDITY of Insisting that Equity Restrictions in the 1987 Constitution of the Philippines Exist for "National Security"

As the call for economic charter change goes on, I feel the need to educate some people with common sense . I'm reading comments on Facebook that 60-40 (or any similar ownership restrictions) is for the "security of the Philippines" or that certain sectors can't be allowed 100% ownership on the part of the MNC. Once again, do I need to remind people for the nth time that 100% FDI ownership is all about share ownership ? Sadly, many Filipinos misunderstand what 100% FDI means (read here ). What 100% FDI ownership means is that MNCs don't need to look for a Filipino partner, only to be burdened with having to give up 60% (or more) of the net profits after taxes and they only keep 40% (or less). That's why I called such an arrangement as overpriced rent (read here ). Some of these people I ran into on Facebook (of all places) are too beholden to Atty. Hilario G. Davide Jr. It was last 2018 when Davide Jr. also said that the Philippines may become a "colony ...

How I Believe the Public Service Act of 2022 Will Benefit the Philippine Business and Economic Environment

One of the greatest news for the Philippines is the Public Service Act of 2022. The following can be read from the Philippine News Agency regarding President Rodrigo R. Duterte's signing of the new law into action: President Rodrigo Roa Duterte on Monday signed into law a measure amending the Public Service Act (PSA), allowing up to 100 percent foreign ownership of public services in the country. Republic Act (RA) No. 11659 or "An Act Amending Commonwealth Act No. 146 otherwise known as the Public Service Act” as amended was signed by Duterte in a ceremony at the Rizal Hall, Malacañan Palace in the presence of lawmakers and other officials. Under the amended PSA, the telecommunications, railways, expressways, airports, and shipping industries will be considered public services, allowing up to 100 percent foreign ownership in these sectors. Duterte also led the ceremonial presentation of newly enacted laws namely RA 11647 which amends the Foreign Investments Act; RA 11650, whic...

The Irony the Philippines Starts the Christmas Season in September BUT Many Filipinos Love Last-Minute Christmas Shopping

Uproxx As Christmas is just around the corner--I feel more stress coming in! It doesn't help when people try to use the late Andy Williams' "It's the Most Wonderful Time of the Year" to try and skip the problem. It's already known that most Filipinos love to start Christmas in September . However, the irony is that Filipinos start Christmas early but do their Christmas shopping late. If they began the Christmas Season early, shouldn't they think about what to do before December strikes? Two years ago, I wrote a post discussing last-minute Christmas shopping . Many Filipinos tend to do last-minute Christmas shopping. They had all of November (when the Christmas sale usually begins) but why do the Christmas shopping in December ? One of the things I blame is the one-day paycheck lifestyle (see here ). It can be observed that many Filipinos never learn to prioritize more important things . One can get their stars when they see their paychecks. However, the...

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