Filipinos Complaining About Increasing Costs of Necessities While Living an Extravagant Life?

With Christmas just being around the corner--I always associate it with paying some year-end fees (such as real estate taxes), computing the year-end financial statement, and the like. However, it can be observed that some people have a mentality akin to Tomas Mascardo. If you've seen the Heneral Luna movie--one scene has Mascardo leaving his post to attend a town feast. Historian Ambeth Ocampo wrote this in Inquirer about Mascardo:

By the end of April 1899, the enemy was moving steadily northward from Manila in hot pursuit of Emilio Aguinaldo and the Malolos government. Luna, who was then chief commanding general of Central Luzon, ordered all his commanders to be ready at their stations and await instructions from his headquarters in Calumpit. During a particularly trying period, Luna was informed that General Mascardo had disobeyed Luna’s orders by leaving his headquarters in Guagua to attend a fiesta in Arayat.

Historians differ on the reason for Mascardo’s trip: One source says he was attending a fiesta, another says he was bathing, and yet another says he was courting a beautiful lady in whom Luna was also interested. Whatever the reason, Luna dispatched a telegram ordering Mascardo to return to his headquarters in Guagua immediately; he also reprimanded Mascardo for leaving Guagua without permission.

Mascardo may be long gone but his attitude is still prevalent among Filipinos. I'm no historian myself either. What I want to stress is that whatever reason Mascardo had--he should have never left Guagua without permission! Unfortunately, some people follow Mascardo's mentality with their finances. I even wonder if Mascardo had a habit of complaining about the cost of needs but never about the cost of wants.

It's typical for people to complain about the rising prices of commodities. We must realize that everything is at a supply and demand scale. No amount of insults done against economists will ever change the laws of supply and demand (read here). One can call demeaning names to economists but we can never change the laws of supply and demand. The irony is that while complaining about the increasing prices of necessities--they're actually spending on branded goods!

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A good example is the Filipino obsession with the iPhone (read here). If the prices of goods and services have increased--why line up for a brand-new iPhone? That's why I even ask if anti-economic reform proponents were forced to buy their branded goods (read here). They had all the market freedom to choose substitutes. Why get an iPhone when you can get a Samsung, a Xiaomi, or any smartphone for a much lower cost? It should be considered idiotic to complain about the increasing prices of goods and services--if you're up for an iPhone that falls under a want. The iPhone is just a want and a smartphone is a need. If they need a smartphone--why go for an iPhone when there are still quality ones? Is it just for the sake of looking good?

That's why there's this statement, "Don't go broke trying to look rich." People may be driving BMWs but they're actually Broke Without Money. They may carry an iPhone to make everyone jealous but they have no ipon (savings). They may even be partying (which may cost higher) while complaining at that same party, about the increasing costs of goods and services. Shouldn't the increasing cost of goods and services remind you, "Oops! Sorry! You need to change your lifestyle!"?

When the Education Cares TOO MUCH About Grades, Schools Produce Idiots Instead of Intellectuals

During the pandemic, I was left in limbo thinking about my poor performance under K+10. It was something to think about that a classmate of mine who was both a summa cum laude and an honor student, ended up posting on his wall, "Students cheat because the education system cares more about grades instead of learning." The class salutatorian of our batch even commented about the good old days. I always had that feeling of insecurity and envy towards people better than me. But as Warren Edward Buffet would say, "Don't hate successful people. Learn from them instead." One of them is currently a teacher and the other is in Canada. I thought about my insecurities especially when I used to believe I was descended from a fine scholar and my family was a family of scholars. I remembered the time I was taking MBA and got conned. I was asked, "Is that what MBA taught you?" I got touchy and ended up admitting, eventually, that I was only taking MBA for the presti...

Piracy is Almost Impossible to Defeat Thanks to the Filipino First Policy

Disney Let's face it piracy is hard to combat, right? For Filipinos, it's time to be honest that people have been engaged in piracy in some form. It may be pirated video games, CDs, VCDs, DVDs, etc. There are laws passed against piracy. However, one must ask why piracy is so hard to combat. Piracy bypasses through legalities. It's a common practice to have a pirated version of this and that application, because of the price . Installing MS Office and Windows 11 can be costly. It can cost PHP 7,000.00 for Windows 11 Home and PHP 5,400.00 for MS Office. Back in college, people would do anything to get the MS Office and Windows 11 because they needed it for their projects . It doesn't help that some well-to-do boomer are stingy instead of thrifty. It doesn't help either that some people just can't afford to buy the original software--given their income bracket . It's easy to raise the Filipino First Policy by saying, "Tangkilikin ang sariling atin!" ...

My Thoughts on the NOT So Surprising Downfall of "Axie Infinity"

llustration: Daniel Guerrero Fernandez for Bloomberg Businessweek I remembered some time ago when I wrote about Axie Infinity . One article I wrote about why I never bothered to enter the Axie Infinity arena was the poor security . I compared it to a cockfighting game--a game where so few win and so many lose. A previous article I wrote was all about why play-to-earn games are too good to be true . What's not too surprising is the collapse of Axie Infinity . It's pretty much too good to be true. A casual gamer can testify that they buy online passes not to earn but to play . It's like buying a Playstation Plus card to play online for an entire year. You buy games out of the money you earn. You don't earn money out of gaming. What truly never surprised me was how Axie Infinity crashed. It promised riches but onoy resulted to disaster. I even wrote that there could be an ironic moment somebody says that AXA is a scam while playing Axie Infinity thinking that it's an...

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 ...

Refuting the BOGUS Claim That Wage Increase Alone, Not FDI, is the Key to Long-Term National Development

This is yet another stupid claim from Kabataan (Youth) Partylist. I wonder if the organization is linked to that joke of a Facebook page called the Philippine Anti-Fascist League (PH Antifa). You have had other similar organizations such as Anakbayan (Children of the Nation), Bayan Muna (Nation First), IBON Foundation, Kilusang Mayo Uno (May 1 Movement), and the League of Filipino Students that insist on the unsustainable demand for higher salaries, lowering the prices of commodities, and handouts for everyone. The idea itself is already not feasible (read here ) yet they keep demanding it. One must wonder are they a group of economic idiots or do they have ulterior motives? Do these groups understand what FDI really means? I noticed that people coming from like-minded groups (such as Teodoro Casiño of Bayan Muna) have their own bizarre ideas. I could still remember his Rappler article which he also wrote about FDI. If the likes of Casiño are linked with the likes of Kabata...

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...

"Filipino First Policy" Has NO PLACE in the Rising Asian 21st Century

I guess nobody saw the Asian 21st Century coming, right? China was once a poor nation but look at it now. Vietnam was once a poor nation but look at it now. Singapore was once a poor nation but look at it now. The late great Lee Kuan Yew wrote his book From Third World to First . I'm afraid some people have been using it to go against the presidency of Ferdinand R. Marcos Jr. while ignoring what else Lee Kuan Yew had to say. Lee Kuan Yew described the Filipino press to be rambunctious on pages 304-305 which I agree. I'm afraid that the Filipino press may have had a hand in getting rid of any economic or political reforms that could help the Philippines. Yet, one policy has been holding back the Philippines for decades and yes, it's the Filipino First Policy . Reviewing the Filipino First Policy and why it has no place in the rising Asian 21st century I remembered how the values education subject taught Carlos P. Garcia's stupid Filipino First Policy as a Filipino value...

Singapore Proves That FDIs Aren't There to "Take Jobs Away" from Locals

I'm amazed at the same lies that are still said by similar "thought leaders" such as the members of groups such as Alliance of Concerned Teachers, Anakbayan, Bayan Muna, IBON Foundation, Kabataan Partylist, and League of Filipino Students making their lies about foreign direct investments (FDIs). One of the lies that they made is that foreign investors are there to invade, exploit, and steal away jobs from the locals. We have the Filipino First Policy by Carlos P. Garcia which sadly caused the Philippines to fail . The aim was to make sure that majority of those who own the businesses are Filipinos. However, a big challenging question is if there are enough Filipino businessmen to fill in the supply and demand. I'm amazed some people quote from portions of the late Lee Kuan Yew's book From Third World to First . Yes, it's often quoted but only if they want to make the current incumbent president, Ferdinand R. Marcos Sr., look bad. I'm still one of the peop...

Basic Economic Knowledge Tells Us Why Ayuda Will Not Help Filipinos Survive Inflation for Long

IBON Foundation I'm getting amazed at how IBON Foundation still has their ever-destructive obsession with ayuda (read here ). Lately, they have written another article where they say that high inflation "confirms" the need for real ayuda which means cash handouts (read here ). That's totally one thing whenever IBON Foundation decries the need for foreign direct investment (FDI) but they keep saying that cash handouts are good for the economy. That statement is purely stupid because handouts equals expenses and there's really no long-term Return on Investment (ROI) on that one! However, for the Philippine government to be able to give more cash handouts without FDIs (and rely too much on local businesses)--it can mean doing the following: Start raising taxes for the rich in order to provide more money for cash handouts. If taxes from the rich aren't enough--why not print more money, right? The demand for ayuda worth PHP 10,000.00 is utterly stupid. The two ...

The Philippines 60-40 Equity Scheme Doesn't Prohibit FDIs But It's Still VERY DISCOURAGING for International Business

First and foremost, I'd like to tell people that I don't believe that the Marcos Years were the "golden years". I still agree with economist Cielo Magno that land ownership isn't a factor, since some countries without equity restrictions, don't allow foreigners to buy land. In contrast, inflation and the like were rampant during that time. However, we need to realize that any gains after EDSA 1986 weren't realized. As I was looking at Facebook, a page called Punch the Lies by Atty. Mike Navallo stated this: FACT: The 1987 Constitution does not prohibit entry of global investors into PH. What it regulates is foreign investment in areas deemed critical such as public utilities; exploration, devt and use of natural resources; and certain investments as determined by Congress. (Art XII) Public utilities (water, electricity, petroleum distribution, seaports, PUVs) are considered vital to socio-economic devt that's why they're subject to foreign owner...

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