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.

Hussam Middle Eastern Cuisine's New APM Prime Mall Location

It was sad when I went to Ayala Center Cebu to eat at Hussam Middle Eastern Cuisine. They had closed their office at Il Corso. They moved out of Ayala Center Cebu at the end of January . I remember talking to someone who said that the old location can be "very hard to find" when you enter the mall. Right now, I remember how trying to find Hussam in Ayala can be comparable to trying to find the magic lamp in Aladdin's Cave of Wonders. That's what I felt back then, I ate at Hussam back in 2024 . Ayala Center Cebu probably had a low visibility problem. They had their soft opening on Black Saturday. They missed the Hari Raya Puasa date, a holiday for the Muslim population. This time, the use of glass walls makes it obvious to passersby that it's a Middle Eastern restaurant, that grilling is underway, and that it's certified halal . The place still maintains the same pristine cleanliness I recall from Ayala Center Cebu. The place's transparent glass windows ...

Toxic Positivity: Shielding Our ECONOMICALLY OUTDATED Constitution

ABS-CBN News I thought about what life was like in the late 1990s. It was a boomer vs. millennial clash . I remember how often I kept complaining about high school during the K+10 era. Even worse, the real problem why I hated school was that school cared more about grades for the sake of grades , instead of teaching students how to get good grades based on learning first. What may have compounded it is that we've had boomer parents who thought that fatigue is a badge of honor . What I realized is the common problem of toxic positivity . We have the "good vibes only" or "everything will turn out right in the end". Sadly, life doesn't always turn out that way. You can tell a terminally ill cancer patient that, and the cancer patient would die anyway. No amount of toxic positivity ever fixes the problem. This time, I'd like to rant once more about how toxic positivity has been used to defend the outdated 1987 Constitutio of the Philippines. The classic r...

How is IBON Foundation Viewing and/or Representing FDI in Their Articles?

Some time ago, I wrote about why I can't take IBON Foundation seriously . As the battle for economic charter change is on, I believe it's time to tackle them again. They're tweeting here and there. Okay, I'm no researcher or organization. However, it doesn't mean that I can't do some basic research, share the research of others, and read other books. Even an intellectually stupid person can actually make sense if they gather the best materials. I even recall someone I know who's not intelligent but he actually spoke well about career opportunities, in the very school where he wasn't performing well! Trying to understand IBON's data presentation I would like to address how IBON Foundation presents FDI growth. They would say stuff such as the claim job creation weakened despite FDI growth . I was looking at IBON Foundation's claim (above) where it says that job creation allegedly weakened despite FDI inflows. Sure, they named sources but do they ...

A Destructive Obsession with Ayuda (Cash Handouts)

IBON Foundation Yesterday, I decided to write about how Pinoy Pride won't help pay that enormous PHP 13.42 Trillion debt . I thought I'd probably take a bit of a break to do some more research. However, I feel the need to write this post today since one of IBON Foundation's articles says that there's a destructive fetish for foreign investment . Then, another of IBON Foundation's articles says that there's money for Ayuda . I really feel insulted reading these since I'm a Masters Degree graduate in the School of Business and Economics. This really shows the destructive obsession with ayuda (cash handouts) and protectionism. IBON Foundation Above is one of IBON Foundation's charts. Some people on Facebook have gone as far as to call them Birdbrain Foundation. So what if there's money for ayuda or cash handouts? The problem here is that "think tanks" like IBON Foundation want to make it look like ayuda is more important. If asked to account ...

Why I Don't See IBON Foundation as a Real Economic "Think TanK'

It's one thing to criticize presidents for their performance. It's another without analyzing the data. Sure, we need to study mathematics but the way it's presented can be a reason why it's hated. I felt that high school mathematics focused too much on numbers. Mathematics, in all its aspects, is part of life. Trigonometry is part of life. Calculus is part of life. Statistics is part of life. Speaking of statistics, I was thinking about how IBON Foundation has given its assessment of Duterte's administration. This isn't to say that outgoing President Rodrigo R. Duterte hasn't made mistakes. Rather, this is to point out how IBON Foundation has that tendency to be illogical. IBON Foundation (click to enlarge) This data by IBON Foundation was gathered. I'm not saying that the figures are lies or manipulated. My problem with how IBON Foundation works is their failure to account for the cause and effect more often than not. Malaya Business Insight It's ...

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