Rebutting The Principles of FLIPFAG Economics 101

Although I DID NOT graduate from economics, but these things are learned when you study the basic of College economics. I had a talk with an economics professor on this matter. She had discussed how often it is that FLIPFAG Logic with Economics 101 is flawed and stupid.

Here's some of their stupid logic with economics:

Allowing 50%-100% ownership to foreign firms means they are taking over the Philippines

Rebuttal:

What you may consider is this. Do FLIPFAGs even know this principle? Even if a foreign firm is allowed to own 100% in terms of intangible assets in the Philippines, foreign investment MUST obey the laws of the Philippines. It means, these foreign firms will partially be under Filipino control... in sense that their Filipino branch MUST conform to Filipino laws. This is common sense and it doesn't take a rocket genius to figure that out.

So let's think... if a foreign firm has full ownership in the Philippines, whose law was it? Philippines. That means, the foreigner must be subjected to Filipino law. Every income he/she earns is in peso. That means, every last income declared is FOR THE GOOD OF THE PHILIPPINES. These firms must comply with SSS, PAG-IBIG and pay taxes to the BIR. They must comply with Philippine labor laws. Having 100% ownership for their Filipino branch does not negate responsibility either. If they fail to comply with rules, they can be kicked out too. In other words, foreign investors are SUBJECT to Philippine laws. They must obey Philippine laws. Likewise, wherever you invest, obey their laws!

The Philippines as a whole is blessed with 60/40

Rebuttal:

This is another lousy excuse not to open up the economy. They say, "We are blessed with the 60/40 Rule"... and because?! Some of their reasons they can name are foreigners will not take over and businesses will be protected. It sounds good on paper if you are a businessman but the rest of the Philippines is going to suffer.

The consequences of 60/40 rule is this. Supply and demand gap increases which leads to an increase in prices. Why are services in some areas of the Philippines expensive and horrible? It's because they have become an oligarchy and some even a monopoly. If there's only Muralco to supply power, they can be horrid all they want BECAUSE THERE IS NO COMPETITION. Raw materials and machines needed have to be imported resulting to expensive manufacturing.

Also may I repeatedly point out that it's hypocritical. Why is it that foreigners are only allowed 40% but when a Filipino invests, they are allowed 100% elsewhere? That's just hypocritical with the FLIPFAG idea of the "Pinoy master race". The Pinoy master race idea is an idiotology that is rejected by every enlightened Pinoy. All I can say protectionist lovers get what they deserveand that there is NO give and takein their system.

The OFW Phenomenon means Filipinos are taking over the world

Rebuttal:

How many times DO I NEED TO EMPHASIZE that OFW means Overseas Filipino WORKER. If you are a WORKER, you are NOT A MASTER. If you work for a foreign firm ABROAD, you must comply with its laws. It was just like some people I knew who got fired from Taiwan because they didn't follow rules and regulations. Regardless of job whether it may be a domestic helper up to professional jobs, you are STILL UNDER THE AUTHORITY OF YOUR FOREIGN BOSS. The phenomenon is the reverse... it means the world is controlling the Philippines.

May I raise the issue of Edz Ello again? Who did he think he was when he wrote those offensive comments? Filipinos will kick Singaporeans out? Really, wow he thinks that Pinoys are the master race. It's also double standard considering they believe that open economy means foreigners will rule the Philippines, they are on other hand believing they will rule the world. They tend to think, "I'm a Filipino and the world must bow down to me." Unfortunately that kind of attitude is putting the Philippines in deep doo doo, and every concerned Filipino (Pinoy or not) HATES Pinoy Pride.

One may also see why OFW phenomenon is happening. I mentioned earlier abut 60/40 as a curse. A closed economy means LIMITED JOBS. In turn, Filipinos where they are FLIPFAGs or not may have no other choice BUT TO GO ABROAD. They are forced to look for jobs abroad keeping they away from their families. Unfortunately, a lot of OFWs are pretty much Okay Fine Whatever.

You can abolish the law of supply and demand

Rebuttal:

Later, after ALL the stupid economics, they start to complain about HIGH PRICES and LACK OF EMPLOYMENT. Do they even know the law of supply and demand? I know that I don't like President Nobita Aquino, former President Gloria Arroyo or Sherap Estrada BUT let's take a look that these presidents were forced to abolish the law of supply and demand. They demand cheaper goods when SUPPLY IS LOW. They even want the law of supply and demand abolished. Sherap may be stupid but HE'S NOT THAT STUPID. At least, he didn't seek to abolish the law of supply and demand.

Can you abolish the law of supply and demand? No... it's a natural law. Even with all the high technology, you CANNOT defy science and economics. For example, why does medication like Biogesic work against headache? Biogesic contains the ingredients that by natural law of science, helps alleviate headache. Everything in technology is a result of the natural laws of science. Any attempt to attack the natural laws of science results to terrible outcomes. Likewise, the law of supply and demand is a natural law that protects both buyers and suppliers. It doesn't take a rocket scientist to figure that out!