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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

Showing posts with label deficit spending. Show all posts
Showing posts with label deficit spending. Show all posts
Sunday, January 11, 2026

2026 Opens with USDPHP at Record Highs: The Peso Is the Symptom, Policy Is the Disease

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    With the exception only of the 200-year period of the gold standard, practically all governments of history have used their exclusive po...
Sunday, November 02, 2025

The USD-PHP Breaks 59: BSP’s Soft Peg Unravels, Exposing Economic Fragility

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  Devaluing is a de facto default and the manifestation of the insolvency of a nation—Daniel Lacalle   In this Issue The USD-PHP Breaks ...
Sunday, October 26, 2025

The Political Economy of Corruption: How Social Democracy Became the Engine of Decay

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  In a world of uncertainty, no one knows the correct answer to the problems we confront and no one therefore can, in effect, maximize profi...
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