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The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt

Sunday, December 07, 2025

The Oligarchic Bailout Everyone Missed: How the Energy Fragility Now Threatens the Philippine Peso and the Economy

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  Uncertainty should not bother you. We may not be able to forecast when a bridge will break, but we can identify which ones are faulty an...
Sunday, November 30, 2025

PSEi 30 Q3 and 9M 2025 Performance: Late-Stage Fragility Beneath the Headline Growth

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  The ultimate cause, therefore, of the phenomenon of wave after wave of economic ups and downs is ideological in character. The cycles will...
Sunday, November 23, 2025

Inside the SMC–Meralco–AEV Energy Deal: Asset Transfers That Mask a Systemic Fragility Loop

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  My cynical view is that 90 percent of financial strategy is either tax minimization, regulatory arbitrage (coming up with instruments to c...
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