Skip to main content

I'll Vote for Teodoro A. Casino for Senator, IF His Supporters Can Run a SUCCESSFUL #SahodItaasPresyoIbaba Business That Pays PHP 1,200.00 Minimum Wage

If there's anything I want to say--only economically illiterate people would vote for Teodoro Casiño's promise. The chances are that (1) it's all for a vote, or (2) he doesn't understand what he's doing. In my case, I assume that Casiño is simply saying it, all for a vote instead of the second option. Chances are that he's only saying it, for a vote. Because nobody in the right mind would push a PHP 1,200 minimum wage, given the condition of the job market! I would like to write this article because what he's pushing is inflationary. It's because no matter how much you look at it, #SahodItaasPresyoIbaba is plain bad accounting (read here). How can you increase wages without increasing the prices of goods and services?

Business & Plans

 

I wrote about opening #SahodItaasPresyoIbaba stores nationwide. Until now, nobody has ever bothered to do the challenge. Why haven't they opened a single successful #SahodItaasPresyoIbaba store? As one would look into accounting, net profits are barely even 50% of what's left of gross profit. Why don't employees become part of the profit sharing, by default? It's simple. Employees have already been paid whether there was a profit or not. The employees already get a share of parted capital--which includes their salaries! Of course, employees are to be paid accordingly. That means if the employee wastes their payment--it's already their problem. The salary is a transfer of monetary capital from the entrepreneur into the hands of the employee. If I have a capital of PHP 1 Million--I would also need to part some of that money to the employees!

Last time, I heard about the PHP 750.00 minimum wage demand. Now let's see if supporters of Casiño are willing to run a #SahodItaasPresyoIbaba store that pays PHP 1,200.00 a day, per employee? Of course, they need to sell their goods at a lower price. They should still sell their rice at PHP 20.00 per kilo and eggs at PHP 5.00 a piece, all that was preposterously promised by President Ferdinand R. Marcos Jr., during his presidential campaign. That's why I promote the parliamentary system--because the Parliament knows better who should run the government! The people vote for the parties, the winning party selects the Prime Minister, and there are strict rules that not anyone can be a prime minister!

Back to the topic, I thought about what if a person sells rice at PHP 20.00 per kilo and eggs at PHP 5.00 a piece. Some people want to make fun of supply and demand, calling me demeaning names in the process. They can get me irritated all the want. However, no amount of name calling will ever change the laws of business and economics (read here). Casiño's supporters can call me stupid, moron, etc. for all they care. Nothing changes the fact that raising minimum wages without a huge demand for labor is inflationary (read why here)! Chances are these idiots may buy Apple products (or even use Adoble's ridiculous subscription model) when there are better and more affordable alternatives (read here). It would even be funnier if they open 24/7, operate with airconditioner 24/7, and you know how their lower-priced goods would not help cover the expenses needed. That's why there's a saying, "In a restaurant, you pay for both the food and the ambience." 

What makes it more foolish is Casiño is a long opponent of open FDI. Casiño dares to write this one about FDI:

Without definite limits on foreign ownership and with no preference for Filipino citizens and corporations, the Constitutional provisions on the national economy and patrimony would become a tabula rasa. It would now be up to the Federal Assembly to determine policies on foreign equity sharing and just about anything there is about the economy and our natural resources. This, of course, creates an entirely new window for corporate lobbying, putting small, underfunded Filipino citizens and corporations at a great disadvantage.

Worse, by totally removing the State’s role in developing an industrialized, self-reliant economy, in implementing agrarian reform, in promoting and protecting Filipino enterprises and producers, and in reserving our natural resources for Filipinos, Duterte’s Cha-Cha will leave small enterprises, workers and farmers having to fend for themselves from the onslaught of even more globalization.    

These amendments are the culmination of 3 decades of “economic reforms” toward a totally free market, neoliberal economy. Combined with the existing policies of economic liberalization, deregulation and privatization, the amendments remove the last impediments to the total domination, control and plunder of our economy and natural resources by foreign corporations and banks. 

I wonder what's Casiño's source of funding then? Where will Casiño get businesses to fill in the supply and demand gap? Hypocritically, this guy supports the International Criminal Court, which is suited in the Netherlands. The Netherlands has long benefited from FDIs and the parliamentary system--two things that Casiño still continues to oppose. Can this guy show that the Netherlands has 60-40 policy with FDI? Can Casiño show that the Netherlands progressed through self-industralized local economy and only opened to FDI after succeeding? I wonder what this guy's answer will be. In fact, that's why I consider him to be a nuisance candidate--him and the likes of Atty. Neri Colmenares, Rep. Raoul Abellar Manuel, Sarah Jane I. Elago, etc. 

Here's my haggle. If those who are rejoicing over Casiño's promise can make a successful #SahodItaasPresyoIbaba store (that pays PHP 1,200.00 minimum wage)--I would give Casiño my vote. Otherwise, I'm going to stick to what basic economics and basic accounting teach me. Sudden wage hikes are inflationary. That's why Casiño will not get my vote--unless his supporters can run a successful business given his minimum wage proposal--while they sell lower-priced goods at the same time!

Update: I made a mistake calling Casiño an attorney. I apologize for the mistake. Thanks. 

Labels:

Popular posts from this blog

The OFW Working Abroad and Their Family on Christmas

It's a few days before Christmas. I don't like December because of heavy traffic, some people prefer Christmas shopping at the last minute (since procrastination is a common habit in the Philippines), the stress of year-end work, and December is the end of the year's cycle. I decided to write this entry. There's nothing wrong with celebrating Christmas or having a good time. The problem comes when one celebrates beyond one's means (read here ). That means having extravagant Christmas parties that require a music band that one can't afford, inviting the whole village, etc. when one can't afford it. Speaking of which, these incidents remind me of OFW families. I remember a study presented at the University of San Carlos. If I remember correctly, it was done by accounting students. It was a study showing the spending habits of OFW families. Outstanding Filipinos Worldwide Facebook Page Here's a meme on Facebook that I found. For the sake of non-Tagalog spea...
Read more

Filipino Manufacturing's Golden Age ENDED Because of the Filipino First Policy

Here's a picture from the Dose of Disbelief Page on Facebook. Here's something that it wrote: Filipinos once trusted locally made products more than imports. Before World War II, the label "Made in the Philippines" carried prestige, not stigma, reflecting a strong sense of national confidence in domestic production. Local products such as shoes, cigars, textiles, furniture, and food were often preferred over imports. This preference was rooted in the belief that local goods were better adapted to local conditions, tastes, and were often of comparable, if not superior, quality. This period showcases a strong historical era of consumer nationalism and thriving local industries. We need to look into the context of Filipino history  If we look at the Philippine history timeline , we must account for 1935-1940, during which the Philippines was under the Commonwealth government. Independence was declared from Spain on June 12, 1898. However, there was a transition period w...
Read more

Having the BADLY NEEDED Tenacity to Hold My PSEi Related Investments During INEVITABLE Paper Losses

I decided to do a portfolio review, especially because Christmas to New Year is around the corner . I thought about checking my AXA Chinese Tycoon Fund. For the sake of confidentiality , I wouldn't give out the exact loss. I was tempted to sell my AXA Chinese Tycoon Fund (which was at a paper loss , not an actual loss) and go for cryptocurrency . However, after looking at the ghost of Quadriga-CX Crypto Scam  made I said, "I need to stick to what Warren Buffett said about the stock market." Buffett's advice doesn't require an MBA or even a PhD in business administration to understand them. Instead, I was looking at these lessons that Buffett such as: If I'm not willing to open to own a stock for 10 minutes, I shouldn't think of owning it for ten years! Definitely no day trading for me! The stock market is a device that transfers money from impatient people to patient people. I have to be more patient as the stock market inevitably corrects itself, unless t...
Read more

External Validations, like Masters and Doctorate, Mean NOTHING with a LOUSY Education System

I have the tendency to use my MBA as a license to avoid criticism. It's a real problem that some people use their credentials and/or academic achievements to try and win an argument. One incident I wrote about was Rep. Raoul Abellar Manuel flexing his "smarts" by using his cum laude degree to win the argument . It was all about how I would often say, "You're the moron because I have the MBA and you don't." There are times I felt like taking an MBA would make up for my "moral shortcomings" during high school when I was barely passing (and the passing rate was 80% , which is rather high), that I wasn't having honors, and that there was this saying, " Thou grades shalt determine thy future! " That, of course, has led to the reality where cheating is prevalent .  I wanted to make a review. I took my MBA in 2011 and graduated in 2014. I always felt that the MBA program was what I needed to become "invincible". It was also at ...
Read more

COMMUNIST Vietnam Has Defeated DEMOCRATIC Philippines Again This 2025

Cổng thông tin Trung ương Đoàn TNCS Hồ Chí Minh A few days ago, I wrote about warning Filipinos that they shouldn't wait for more unmitigated typhoon disasters, before realizing that the Filipino First Policy isn't working ! There's a statement that says, "Just because being tanga (inattentive) is libre (free), doesn't mean you should be tanga!"  Analyzing the different policies: why policies  matter I found a Business World article, written by Cesar Polvorosa, Jr., on my Facebook news feed discussing the Vietnamese economy . In fact, it would be better to share some hard truths that the article offers about what really went wrong with the  democratic Philippines compared to Communist Vietnam : DIVERGENT ECONOMIC MODELS  Vietnam pursued an export-oriented manufacturing strategy which has proven significantly more successful over the past half century than the Philippines’ service-heavy, remittances-dependent model . Export performance alone tells a compe...
Read more