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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 foreign currency reserve. Show all posts
Showing posts with label foreign currency reserve. Show all posts
Sunday, June 14, 2026

Stagflation Part 9: The Good News Mirage — Statistical Stability Amid Structural Fragility

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One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re ...
Sunday, April 26, 2026

The Anatomy of Philippine Stagflation: BSP Rate Hikes, Record External Deficits, and Fiscal Expansion (Part 3)

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  What we have here is the Keynesian error that inflation cannot emerge while widespread excess capacity exists. Underpinning this error are...
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