Doomsday or good fortune

AS of today, I am officially out of the “Doomsday” prediction business. There is nothing more to predict. Doomsday is here.

The word first used in the 11th century means “a day (daeg) of final judgment (dom)” and more recently “a time of catastrophic destruction and death.” It makes sense. Daniel 5:27: “‘TEKEL’—YOU have been weighed on the scales of righteousness and found deficient.” Having been judged, then we probably deserve destruction and death.

The “global economy,” which is nothing more than the sum of the national parts, has been manipulated by the sins of commission and omission to create irregular growth patterns and incredibly unequal individual wealth distribution.

Over the past 60 years, there have 29 when global gross domestic product (GDP) growth was higher than the previous year and for 40 years, the global annual inf lation rate was lower on 22 occasions. This may seem to show stability. But while the overall quality of life and standard of living everywhere has improved dramatically, F. Scott Fitzgerald was essentially correct in “The Great Gatsby.” “The rich get richer and the poor get —children.”

“Stagflation” will be an increasingly serious problem but only for the short term. We are already seeing an overall price decline, which is being hailed as proof of the wisdom and actions of the central banks by raising interest rates.

What we are seeing with the decline in the crude oil price—down 30 percent since May—is that buyers are not buying. Tracked since 1990, the current wholesale price of heroin and cocaine in the US and Western Europe is at the bottom of the price range. The New York Federal Reserve Bank released the November 2022 Survey of Consumer Expectations, which shows that inflation expectations decreased in November for the short, medium, and longer terms. Doomsday. Why?

US household wealth in 2022 saw the second-fastest decline in history rivaled only by the 2008 housing crisis. “Ok, but inflation is going down and Biden assures that the economy

Listening to the Amboy/euroboy analysts and those that, for personal or political reasons, want the Philippine economy to fail will deprive you of wealthincreasing opportunities. Therefore, start accumulating local stock market issues. There are many issues with revenues and profits above 2019 levels and stock prices as much as 50 percent lower.

is ‘as strong as hell.’” However, the total size of the US GDP is lower this year than in 2021. You cannot increase wealth with the economy barely moving. And US employment numbers are as truthful/accurate as the FTX financial statement and Sam Bankman-fried’s income tax return.

If you want to assume that increasing the US Federal Funds Effective Rate by 3,900 percent from 0.10 to 4 percent (as of now) “stopped” inflation, it could only achieve that objective by slowing demand and the economy. An economy is like a massive ship that cannot turn instantly. What is the Fed going to do if GDP growth continues to slow? “Erase, erase, erase. Tomorrow the benchmark interest rate will be one percent. Carry on.” Remember, in fourth quarter 2021 BEFORE the first Fed rate increases, GDP growth was 7 percent. The FED will begin lowering rates by Q2 2023.

Now to the Philippines. Fact, not nonsense political bias. This economy is awash with individual cash. Residential property prices in Metro Manila have more than doubled since 2021, says real estate brokerage services firm Leechiu Property Consultants. Sales of upper middle-income segment (P4-P7 million) grew by 53 percent, middle-income (P2.3-P4 million) by 15 percent, and the lower middle-income segment (P1.4-P2.3 million) by 64 percent. Demand for office space closed at around 975,000 square meters, up from 540,000 square meters in 2021.

Listening to the Amboy/euroboy analysts and those that, for personal or political reasons, want the Philippine economy to fail will deprive you of wealth-increasing opportunities. Therefore, start accumulating local stock market issues. There are many issues with revenues and profits above 2019 levels and stock prices as much as 50 percent lower. Start slowly borrowing money to expand your business when the BSP starts lowering interest rates. Domestic tourism is up but is only now starting to recover some of the businesses that closed in the past two years.

What is the opposite of “doomsday”? Good fortune? That is what the future essentially holds for the Philippines.