OF SUBSTANCE AND SPIRIT No, this is not about inflation being driven by the growth of the money supply as Nobel Laureate Milton Friedman talked about it in India in 1963. That inflation is always and everywhere a monetary phenomenon is true in the long run during episodes of persistent inflation....
OF SUBSTANCE AND SPIRIT As we observed in our In Brief for GlobalSource Partners last Monday, the Jan. 5 release of the December 2023 inflation report in the Philippines could signal another episode of price downtrend. At 3.9 percent, the December inflation is the fourth month marked by price...
OF SUBSTANCE AND SPIRIT New year is an opportunity for this hopeful nation to initiate change, to achieve more progress, to work for greatness. New year is creating doors of opportunities to make 2024 as close as to what it actually means. The 4 in 2024 in Hebrew is daleth, and it means door. And...
OF SUBSTANCE AND SPIRIT Let me share an edited version of what we sent out through GlobalSource Partners as principal advisor for the Philippines last week. This is about President Marcos’ Executive Order (EO) No. 49 which established the Office of the Special Assistant to the President for...
OF SUBSTANCE AND SPIRIT It was Mark Amand who argued that rejection doesn’t mean we aren’t good enough. He said that the other person who rejected us actually failed to appreciate what we can bring to the table. In fact, the Platonic philosopher Atticus would even say “I’ve never met a...
OF SUBSTANCE AND SPIRIT Today is the last meeting of the Monetary Board of the BSP for the year 2023. Early this week, we wrote in GlobalSource Partners In Brief that the BSP must be at a crossroads on what to do next, whether to pause, or lift its policy rate by another 25 basis points. We...
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OF SUBSTANCE AND SPIRIT It could have been conveniently ignored if the source was not the Philippines’ central monetary authority, the Bangko Sentral ng Pilipinas (BSP). But no less than the BSP itself in its latest November 2023 Monetary Policy Report projects the gross domestic product (GDP)...
OF SUBSTANCE AND SPIRIT Our annual family retreat in Italy culminated in the “eternal city” of Rome, and as we learned from high school, the city of seven hills. The capital of both Italy and the Vatican, Rome is known for having more fountains than any other city in the world. We were...
OF SUBSTANCE AND SPIRIT (Last of two parts) This country missed many opportunities in the past. It could have elected president the late Manila Mayor Arsenio H. Lacson, he who established the Manila Zoo, the nation’s first underpass, Boys Town, Ospital ng Maynila and Pamantasan ng Lungsod ng...
OF SUBSTANCE AND SPIRIT No, former Senator Jose “Pepe” W Diokno is not missing. He passed on in 1987 at the age of 65. If he were living today, he would have been 101, having been born in 1922. He is not missing but we miss him and his legacy. His life revolved around the defense of...
OF SUBSTANCE AND SPIRIT We concluded last week our two-part series on engaging in global value chains (GVCs) as a possible way out of lower middle-income trap with the warning that there are risks surrounding it. If only to stress the significant impact of this route to breaking through the income...
