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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

Monday, March 10, 2025

Philippine Treasury Markets vs. the Government’s February 2.1% Inflation Narrative: Who’s Right?

Inflation is a tax. Money for the government. A tax that people don’t see as a tax. That’s the best kind, for politicians—Lionel Shriver ...

Sunday, March 09, 2025

2024’s Savings-Investment Gap Reaches Second-Widest Level as Fiscal Deficit Shrinks on Non-Tax Windfalls

Deficits add up. Debt needs to be refinanced. And the larger the cost of servicing past spending, the less is available for the present. T...

Monday, March 03, 2025

BSP’s Gold Reserves Policy: A Precursor to a Higher USD-PHP Exchange Rate?

Central banks and finance ministries do not hold copper, aluminum, or steel supplies, yet they hold gold. The only explanation for central...

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