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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, February 18, 2018

Bullseye! Panicked BSP Slashed Reserve Requirements in the face of Meltdown in Philippine Bonds!

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Every generation suffers its particular fantasies.   So it was a century ago.  Investors had grown so immune to the consequences of ...
Monday, February 12, 2018

Chart of the Day: The Turkey Problem Applied to Volatility

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Nassim Taleb's  Turkey Problem ... The Turkey Problem in Action... The  volatility index , the VIX (last week)!
Sunday, February 11, 2018

As the BSP Resists From Tightening, Long-Term ROP Yields Soar!

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Everything is fine until inflationary pressures or something else shocks up the interest rates. And the minute they go up, it becomes obvio...
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