Dear President Duterte, About Sen. Leila de Lima…
Sen. Leila de Lima with guards: Her hands are held down to keep her from waving to supporters.
by Wilfredo G. Villanueva
Dear President Duterte,
It’s about time a Filipino wrote you directly about a topic that requires a great deal of love and wisdom to thresh out. This is it, man-to-man, for a woman is in distress, and it is un-Filipino not to lend her a hand.
I’ve just been to Camp Crame custodial center to interview Senator Leila de Lima. She has shrunk. Not in a negative way, but in a metaphysical way.
She is closer to God. She knows she has to diminish so that God will increase in her. That statement alone should send shivers up the spine of any adversary. She used to take to prayer in a roundabout way when she was busy with statecraft, like a flash of remembrance, but now, no more. Prayer has become her number one activity, for what is an imprisoned person to do except to look up and reconcile herself to her Creator who can see everything, has answers to everything? She has become stronger by prayer and reflection alone. Who would dare cross paths with such a person?
She was her bubbly self the last time I saw her five months ago. Now, she has a pained expression, like a visibly sick person trying to assuage the fears of her visitors who worry for her. Oh, don’t worry about me, I will survive this, she insists, but it takes an extra push from her now, like a car with a weak battery. But make no mistake, I’m not worried. I know she will survive this.
Alone, but not alone.
But will you survive this? She will have spent a year in detention come February 24th. She has learned a lot in communing with herself, but pray tell, Mr. President, what have you learned a year hence upon making it a state policy to go after your enemies with extreme prejudice?
Every day that passes that she is under lock and key increases her, and diminishes you, Sir. Make no mistake about it: the Filipino just loves the underdog, and you have made her one. Think Ninoy Aquino, think noise barrage Marcos time, think hordes descending on the open casket in Sto. Domingo church, the tsunami of humanity bringing a hero to rest, the weekly confetti rain on Ayala avenue, shouts of Marcos Resign. The energy at that time was so palpable, you could slice it and serve it to as many people who would love to be a part of the heaving throng. It cycles and recycles, a wheel that doesn’t stop turning because it has acquired momentum, a life of its own. Think you can handle this kind of intrusion into your power, Mr. President? How can you lead an already fractious nation spiked by a rising anger for the incarceration of a Mary Magdalene who has dedicated herself to God after tribulation?
I asked her why can’t she just escape or seek political asylum. Do you know what she said? When she was in Washington, D.C. December of 2016, she learned about the impending criminal charges and arrest, and had a door opened for her for that recourse. She didn’t take it, wouldn’t have none of it. Why, I pressed. “Because this is my country, it’s the only one I’ve got. With the truth on my side, I fear no one,” she said, her voice rising a bit like the sharp edge of a sword. How many times in our lifetime will we ever hear that kind of conviction from a fellow country man, a true patriot? Not from Sal Panelo who speaks as whimsically as he dresses, not from Speaker Pantaleon Alvarez who defends his bigamy, not from Mocha Uson who is busy proving her intelligence. While everyone else is protecting his turf, Senator de Lima has nothing to do except perfect her inner self and will, passing over trivialities, going straight to the point, true.
Permit me, Sir, to go into deep waters. You cried at the grave of your mother upon your election, did you not? Is there a connection between your seeming love for your mother and your hammer-and-tongs treatment for womenfolk? Do you not notice that you are especially drawn to take women as adversaries? Whatever is your issue with your mother, let it rest, Sir. You have your life to live, you have attained the pinnacle of your career, the admiration of 16 million or so, and whatever has transpired between you and your mom, give it all to God or Allah. Strike out from your angst, for it is getting in the way of your potential greatness.
And do you know that Senator de Lima threw a tantrum just once in custody? It was when you averred that you had peeped in her quarters without her knowledge. While she was sleeping? This is too much. Way too much. Beyond ungentlemanly, more of an admission of some sick perversion. Visit her as a person, sit down and talk to her, but don’t treat her like your property which you can view anytime you see fit, like having a new car and you visit it at your driveway to have a final look before you go to sleep. She is a human being and she has rights. (Good thing it turned out to be a presidential joke.)
She is resigned to the fact that as long as you are President, she will stay in detention. She’s a lawyer and she knows the extent of the law and the current state of our judiciary. You have testimonies which you say could stand in court—from coerced and perjured witnesses, she says, but will the court see it her way, that is the question. State has condemned her to indefinite stay under close watch. Her visitors are frisked, patted down, sanitized, no pictures, a closed circuit tv in the receiving room. From 5 o’clock in the afternoon to the next morning, she is cut off from the rest of humanity, with only the steady whirr of an electric fan to keep her company. Imagine what that can do to a person. I myself cannot wish that on my enemy, for life within 12-feet high walls lined at the top by concertina wire and the presence of armed guards in shifts gets to you.
She also said that you can do her no more harm. You have completely trashed her, for who is the woman who can face society with the scarlet letter at her back? Without purity and chastity, what is a woman to do, what is left for her to do? She said that whether or not the video exists, it doesn’t matter anymore. The threat of it is the fire that keeps her detractors’ rage against her at boiling point, short of stoning her to death.
Some more points before I close:
She gets her ZZZs, seven hours. Do you?
She’s not depressed. Are you?
She’s outraged that she doesn’t see the level of patriotism or outrage over the incursions of China into our natural resources. Are you?
She thinks we are a virtually a province of China. Do you?
She thinks that non-violence is key to solving our problems. Do you?
She wants to be judged well by history. Do you?
She is free in jail. You are not in jail, but are you free?
She counts the days of detention, making sure every single day counts as unimportant things are shed for things that matter. She is ready to face her destiny, to be on God’s side in this life and the next. She has found true peace in the narrow confines of isolation.
May Senator de Lima’s peace be with you. As-Salaam-Alaikum.
Sincerely,
Wilfredo G. Villanueva
The Society of Honor by Joe America 
*******
Second Attempt
1. Duterte has many sins. At least, ~15,000 (~20,000?) and counting. And that’s just the EJKs. If we take into account his undeclared wealth, we are in the region of tens of millions sins.
1.1. If each of his sins were (a) the size of a pixel; and (b) we colored each pixel red; and (c) we used a pixel resolution of 75 DPI; and if Duterte were then (d) to wear a pure white hooded robe dyed with his sins, the entire robe would be red. Scarlet red.
2. The pixel that represents his sin against De Lima would be virtually indistinguishable… except that we would know it would be directly located above his black heart.
3. For some reason, many see the robe as undyed.
4. With our fondness for easy abbreviations, we refer to De Lima as D5 and Duterte as DU30. In absolute numerical terms, 30 is greater than 5. But if we take 30 to be a negative number – as we must because of the scarlet sins – then +5 is greater than –30.
5. Now and then, I dabble in numerology.
5.1. If we divide 5 into 30, we get 6. Biblically, six is the number of imperfection. I interpret this to mean that DU30 had five other principal accomplices in his effort to detain D5. These were Calida, Aguirre, Alvarez, Dayan, and the Bilibid snitches.
5.2. Conversely, if we divide -30 into +5, we get -0.166666∞. I interpret this – 1 vs. 666 — to mean that D5 is fighting with the Devil! Hmm, there’s a sequence of 1 and 6 in there. Could it be the 16M?
*****
edgar,
If D5 went on hunger strike , will it be effective? Why, or why not?
Turns out Ninoy Aquino himself went on a 40 day hunger strike too (among other greats),
https://en.wikipedia.org/wiki/Benigno_Aquino_Jr.#Early_martial_law_years
*******
Second Attempt
1. The decision to go on a hunger strike is a serious decision. It is a decision to fight to the death.
1.1. The medical consequences are horrific. From Wikipedia: “In the first three days, the body is still using energy from glucose. After that, the liver starts processing body fat, in a process called ketosis. After depleting fat, the body enters a ‘starvation mode’. At this point the body ‘mines’ the muscles and vital organs for energy, and loss of bone marrow becomes life-threatening. There are examples of hunger strikers dying after 46 to 73 days of strike.”
1.1. So hunger strike is not a tactic. It is a strategy — an exit strategy. For Senator De Lima and not for Duterte.
2. So the question for me is not whether hunger strike is effective, it is whether it is necessary.
3. If I were to assess Senator De Lima’s situation according to 3 levels — bad, worse, and worst — I would say she is at Level 1. Her situation is bad but it is not dire or exceedingly dire.
3.1. In terms of justice:
o Her case is at a standstill.
o Judges are unwilling to handle the case. Two judges have recused themselves.
o The prosecution is in paralysis. They have two possible charges but do not know what to go with.
o There is no material evidence — no drugs and no drug money.
o She has the second-most brilliant lawyer in the country. (Unfortunately, the foremost brilliant lawyer has sold his soul to the Devil.)
3.2. In terms of politics:
o Duterte has not achieved total dictatorship. He has partial control of both houses of Congress and of the Supreme Court. He does not control the Ombudsman, the press, and social media. The police are on a leash but not the military.
o De Lima has widespread local support and has many visitors.
o She has an international profile as a political prisoner and enjoys international support.
3.3. In terms of time:
o De Lima is 14 years younger than Duterte.
o Duterte is diseased.
3.3. In terms of values:
o De Lima does not have physical freedom. But as Will notes, she is free spiritually.
o Duterte is a symbol of oppression and repression.
o De Lima is a symbol of injustice and a rallying figure for freedom lovers.
*****
Agree on all points, Prof. I did ask, no, tell her, that she has a recourse to a hunger strike. I will not make public her response. But whatever is her strategy, she is on course and is not “in the horns of a Delimma.” Philippines, see what faith does to courage when they meet. I needn’t say more. Vocabulary insufficient. Thanks to NH, Lance and Edgar for helping me out in this thought.
And special thanks to the host of this blog, for the platform of word after well-targeted word. With JoeAm, who needs physical violence?
👊👊👊😎
*******
ADDENDUM
1. There is one aspect I haven’t mentioned — the cultural aspect.
2. A hunger strike is prolonged suicide and the Filipino attitude toward hara-kiri is ambiguous. Unlike Japan and Korea, we do not view seppuku as honorable or obligatory under certain circumstances.
2.1. Our concept of honor has more to do with acquiring social respect rather than exhibiting personal integrity. We like to be honored but do not care about having honor.
3. I am not aware that we observe any native form of formal ritualistic death. Ritual sacrifice of virgins for a better harvest. Ritual immolation of widows. Ritual contests for personal honor whether through sword fights or dueling pistols. Or ritual entombment of live slaves with the dead master.
3.1. Perhaps Duterte has introduced one — ritual kadut. That’s ritual Karton and Duct Tape.
4. From the little I have seen, suicide is taken to be an act of mental aberration and not of courage. We do it because we find no meaning in life, or we are depressed, or we are guilty.
4.1. It is highly likely that many would interpret any suicidal act on De Lima’s part, not as an act of courageous protest, but as an admission of guilt.
*****
Brilliant.
Very apt descriptions, Edgar. I see red when I read about PRD and his herd of asses. I skimmed over an article where Panelo called him the “berdugong anghel.” To which, I can’t help but think, “Yes. He is an angel of death. Not an Azrael but a Dr. Mengele.”
Ghandhi, Dr. Martin Luther King, Cesar Chavez, some Palestinians did, some Gitmo detainees too, etc. went on long hunger strikes.
Wil, what are the chances Sen. D5 will go on a hunger-strike? I’m not sure Mandela went on hunger strike also, but seems a very useful tactic, mode of protest.
Let’s wait, Lance. Let destiny take its course.
Maybe Irineo is correct, that the Bagatsings of Manila are descendants of Bhagat Singh.
“She is free in jail. You are not in jail, but are you free?”
Thank you for this heartfelt post Wil. I greatly admire the good senator, her convictions and everything. Why is it that there is no judge willing to take her case?
You’re welcome, Arlene. Sen. de Lima has acquired a certain sheen, like purified silver. She is no longer the same person.
Maybe all the judges know what is the truth behind leila de lima’s case…
Blinded, going for the food and sprinting back to their holes, like rats.
‘the Filipino loves the underdog’.. if seen as one’s kapwa or fellow human being.
Not as iba or other, a category propaganda has put ‘yellows’ into.
Might as well add a yellow star like another regime did.
Dilawans don’t eat kids, they vaccinate them, these vampires.
No matter that Acosta’s fake autopsies are more ghoulish.
The parents crying beside her are the ‘true Filipinos’, underdogs.
Just like Mocha is an underdog and we are all smart-ass elitists.
Ignorance is blessed, too mich education is konyo – this is 2018 not 1986.
Leni is pretentious, Isabelle Duterte is cool, the Philippines is fucked.
Most OFWs will probably love to watch De Lima executed, I fear.
She is not guilty like Flor Contemplacion was – just ‘other’, i.e. dilaw.
Guilty if kapwa may awa, innocent na iba – wow human sacrifice!
Don’t worry Irineo…Everything will be ok…….Soon the Philippine train will run seawater like the Duterte trimaran….
The DOST has pledged some P76 million to fund the trimaran project, which will be implemented with the collaboration of other agencies, such as the Aklan State University (ASU), Maritime Industry Authority, Philippine Council for Industry, Energy and Emerging Technology Research and Development, Metallica Consultancy and the Aklan Congressional Office.
“This project is responding to the call of the Duterte administration, which is economic empowerment to the different regions. I am committing the entire force of the different DOST agencies if needed,” de la Peña said in an interview.
It was learned that while de la Peña was discussing the details of the project implementation, the DOST Central Office in Manila had already deposited an initial P43 million to the bank account of the ASU as manifestation that the project will start.
..Engr. Jonathan Salvador of the Metallica Consultancy, who conceptualized the project, said that he would finish the project as early as a year and a half. He dubbed the project as the dual stroke cylinder pumps with 30 units working, or simply Duterte…
https://businessmirror.com.ph/fuel-efficient-duterte-trimaran-boat-in-the-works-dost-says/
Nowhere to go but up.
It is a cliche in fiction, that dark magic is bad because the caster of such magic may have to pay a hefty price for such abilities.
A certain set of factions in this country have discovered a sort of dark magic; with the wand of social media, they cast the “Populism” spells against their foes and are giddy with their power and might.
They forget the hubris comes before the fall. They forget that there is only so much “distraction” that one can apply before the troubles hidden away pile up into something insurmountable. They forget that the act of deception ultimately swallows the deceiver.
Right now—the current administration is beloved? Why? The economy is good—thanks to the previous administration’s relatively stable hand. The Drug War never bothered the “good” people in the “right” neighborhoods. Those noisy mediamen are just KSP* and so are those annoying student-activists; a potential thought: “Unlike them, I’m a smart guy—I keep my head down.”
An advisor to President Marcos once remarked that Marcos thought he could have vision and loot the country too. Marcos, as we all know, failed in the end because the looting quashed the vision. I wonder how this style of governance (rule by distraction) will fare when the current administration encounters big problems…
*KSP = “Kulang Sa Pansin” (Needy for Attention)
IN THE HORNS OF A DELIMMA
Coincidentally strange that phrase — “horns of a delimma.” For certainly Senator Leila de Lima does not have horns except what the Administration wants to put there.
However that phrase may be, it seems useful to quote here in making a comment on the current blog. The Admin touts that it has evidence galore on de Lima, but until now the trial has not started. For consider the following:
– The witnesses against her in the House Hearing were convicts who have nothing to lose for any statement they made on her, instead with something to gain;
– If I recall right there was conflict between Calida and Aguirre on the charge labeled against here;
– For supposedly favoring the convicts who continued their nefarious and enriching ways in their cells — against the fact that de Lima herself exposed their ways — no evidence of wealth in her or her lifestyle surfaced;
– If a judge with some modicum of justice heads the trial, the chance is good that she will be found not guilty when coupled with the certainty that there will be international observers at the trial.
Thus, the Admin rightly not pushed for the immediate trial. In this game theoretic situation, the Opposition rightly not pushed for “violence mode” that the Admin probably hoped to happen so it can move to a some Phase 2 of a Plan.
Having delayed the trial, the situation of the dilemma remains. In fact, it may have intensified under the present situation — creating a possible “Ninoy Situation” that the blog hinted. Especially in tandem with the looming price inflation that will hit Juan de la Cruz’ pocket due to tax reforms. A tax reform to finance a BBB Program associated with massive loans from a not-so-popular embrace of China — and to people’s mind: coupled with the illegal moves in the South China Sea; and now the late discovery (through Rep Alejano) of Chinese access to Benham Rise to do “research” not allowed the French.
Thanks, Will, for another comment-inspiring blog. You are right in timing this blog article on the one-year anniversary of de Lima’s detention come February 24.
You’re welcome, NH. The Ninoy formula. Every dictator’s nightmare.
“In the horns of a Delimma.” Write a blog article already, NH.
Thanks, Will, for the thought. If looks uncharitable to enjoy it here and not contribute a blog article, as you and others do. But I will hold until an interesting and relevant topic to TSH comes along, with Joe’s approval most of all.
If I was not able to convince Sup, maybe I can convince you NH to write a blog.
*******
Suggested title — “The Nash Equilibrium in Philippine Sociopolitical Life — Why Filipinos Don’t Want to Change.”
*****
👍🏻👍🏻👍🏻👍🏻👍🏻
Oh sweet tempters get thee away from me. 🙂
Remember that Subic contractor Karl?
http://www.papt.org.ph/news.aspx?id=2&news_id=82&paging=2
”E.I. Construction & Development Corporation located at No. 2247 Alexander corner Ford Street, San Isidro, Makati City. ”
No,
But they have been operating since the seventies….now, they still use pirated autocad?
http://eiconstruction.com.ph/projects.html
Ps.
What were we talking about then?
red cross/subic/gordon/
http://eiconstruction.com.ph/projects.html
Thanks!
Approved, for sure.
Few weeks before Sen. Leila De Lima was jailed, I had a chance to talk to her for about forty minutes. It was a casual one-on-one phone conversation about everyday life and politics while waiting for her flight to Berlin, Germany to speak at the Annual Conference on Cultural Diplomacy. At certain point of our conversation she was like a little girl trying to explain her case about all the lies being thrown at her. I simply said that I have faith in her and to continue the fight but expect the worst.
Senator Leila was so accommodating, calm and in high spirits. She knew that she’s going to jail once she comes back but she’s taking everything one day at a time. We both agree that faith in God and prayers can help.
During our conversation my wife was sending me pictures with her using Snapchat. Nagse-selfie pala sila habang magkausap kami. It was something with flowers around their heads with matching green eyes as effects. She liked it and was laughing so hard while learning that I saw their photos. She even said to my wife, “Ayy ang ganda ko naman dyan. Isa pa nga hahaha”.
One day she’ll be free. One day she’ll laugh again like there’s no tomorrow. God bless you, Sen. Leila!
She’s that way, a hearty laugh disguises the gray steel of her gravitas and resolve.
DASAL KO SANANG MAKITA NA YUNG MGA ISKOLAR NG BAYAN AT IBA PANG MGA ESTUDYANTE E DUN MAGTIPON SA CRAME AT HILINGING PALAYAIN NA SI SEN. DELIMA…NAKAKAGALIT NA TALAGA…MINSAN NA KAMING DUMALAW K SENATOR PERO SA EWANG DAHILAN E HINDI AKO NAPASAMA SA LISTAHAN NG PWEDENG PUMASOK PERO MAY PERSONAL NA LIHAM SA AKIN SI SENADOR.
It is possible to avoid using all caps by hitting the ‘cap lock’ key. Or by removing your finger from the ‘shift’ key. There is no charge for this bit of technological advice.
Many ideas are floating around, wbar. I hope we arrive at a consensus for a spear point of a protest action.
Sorry for over – emphasizing my anger.
Thanks. Consider also that I am a tad grouchy today, none of it your doing. Cheerio.
Koko did that……
Yup. He went bats**t cray-cray when he was asked about Trillanes’ request for a Senate inquiry on PRD and Sara’s alleged hidden/undeclared wealth. Why-oh-why? Wasn’t he, Cayetano and Trillanes the trifecta who exposed the Binays in Senate?
Binay did not give pork barrel
‘Masyado naman siyang ninenerbyos’ </b to quote Trillanes of Pimentel:
http://www.gmanetwork.com/news/news/nation/642173/trillanes-mocks-koko-opposition-to-probe-duterte-bank-accounts-masyado-naman-siyang-ninenerbyos/story/
Or in the words of the bard:
“Uneasy lies the head that wears the crown” [the crown of the Senate, that is].
Heeeeeeeeeeeeee…Sara is alive…
Inday Sara thinks Trillanes could be ‘hooked on something’
http://newsinfo.inquirer.net/966249/inday-sara-thinks-trillanes-could-be-hooked-on-something
Naghamon ang pangulo. Kinasahan ni Sen. Trillanes. Ayaw naman ni Sen. Koko. Why?
What’s a reward more delectable than moolah?
I want to cry for Sen. De Lima…but i know she is strong…and God is with her and so the truth in her side!
Amen.
Prayers, hers and ours make her stronger. 😊
Amen.
Muy bien mi primo Wilfredo, como siempre, excellentissimo. Aqui en TSoH — Astig, supalpal insan.
Comme d’habitude, Bon Punch mon cousin.
Primo Popoy, muchas gracias. Pour le pays.
For the pays este For the country!
ps
I remember ako nagsabi magpinsan kayo dahil sa Villanuevang lolo o lola ni popoy.
It is becoming the usual (como siempre, comme d’habitude) here in TSoH that whole blogs and single comments become DOABLE solutions. A germinating (viraling?) reality of TSoHS (The Society of Honorable Solutions).
Read to spin the piece again and discern three solutions: 1. for the country, 2. for Senator De Lima and 3. for PresDu30; no need to be high on shabu or fentanyl to stand without fear, to raise the right hand in rebel salute, NOT to touch fists with the scared scalawags.
De Lima acquitted by the Ombudsman for a terror offense remotely related to her case.
Meanwhile, the local Gestapo is egging on to send more to jail:
Yes, madlanglupa, Gestapo. What’s happening is textbook Nazism. Of the few leading the many who are silent, apathetic, willing for others to be led to slaughter, until… (Martin Niemöller).
Out of topic, for laughs
Now I get it: Duterte’s “Build, build, build ” is an example of “act local, think global” and China is furiously achieving it in the West Philippine Sea. 🙂
Andrew, insert Philippine Rise.
Well written Sir. Thank you. I will remember nowmto include her in my prayers.
And she is right – the lack of indignation with what China is doing to us reflects on us as a people. We don’t love our country enough, which is also to say that it’s because we don’t have love of Him too.
He chose for us to be Filipino. And I would like to do my share to value what He has blessed me with.
If we don’t love our country, soon we’ll be treading in Chinese waters, bereft of solid ground, our motherland for the exclusive use of the Mongol invaders, not the Middle Kingdom which was of noble stock. It’s almost a caricature, so easy to draw for a child like comics. Children, millennials, can easily understand, while other Filipinos, mesmerized and thought-controlled by Marcosian techniques, proceed with their lives like the future is immaterial, content in drowning their sorrows in intoxicating spirits and hollow laughter, afraid, so very afraid. As long as it’s not me, that’s the philosophy Edgar Lores misses.Thanks, Jack Garcia.
This South Korean also says that we have no love for our country.
This went viral 8 years ago…..for naught.
https://www.facebook.com/notes/i-am-proud-to-be-an-atenean/a-letter-from-south-korea-thebrownraiseorg-please-read-my-fellow-ateneans/122429667775206/
click on tuesday may 11…….
OT as usual
”The President was a big bike enthusiast and occasionally rode his Harley Davidson.”
http://newsinfo.inquirer.net/966401/president-plays-big-bike-prank-on-psg-escorts
No Harley in his SALN.
https://docs.google.com/viewerng/viewer?url=http://pcij.org/blog/wp-content/uploads/2016/05/PCIJ.-Mayor-Rodrigo-R.-Duterte-2015-SALN-1.pdf&hl=en_US
???????????????????????????????????
Liar liar pants on fire………
This former DENR director put N/A on name of spouse and gets convicted for perjury.
http://www.philstar.com/headlines/2018/02/03/1784243/ex-denr-director-convicted-perjury-ethics-violation-marriage-denial
That non-declaration of his Harley will put him in hot water, if the state prosecutors and Sandigan Bayan are consistent.
Any attempt to talk some sense on Duterte would be futile. We voted a lunatic to become our President. Our problem now is how to put into a straight jacket a crazy man who commands our Armed Forces, and who has millions of fanatic equally crazy followers.
Well, here is good news.
Lacson on Duterte order vs foreign Benham research: Late but still a good move (February 06, 2018)
http://globalnation.inquirer.net/163859/benham-rise-philippine-rise-foreign-research-exploration-duterte-order-lacson#ixzz56IxpfnPk
Nakikinig ba? Oh nahuli lang? On such important matter, why did it take Rep. Alejano to announce belatedly and the bobo-defense of Roque before this move? Closing the barn after the horse has left?
HERE WE GO
MANILA, Philippines — Consumer prices surged to a three year high in January 2018 on the back of increments in food, alcoholic beverages, and tobacco prices.
Headline inflation quickened to 4 percent in January, higher than the 3.3 percent posted in the previous month and matching the top-end of the central bank’s 3.5-4 percent forecast, </b the Philippine Statistics Authority reported Tuesday.
…
Sought for comment, University of Asia and the Pacific Senior Economist Cid Terosa attributed the uptick in headline inflation to the implementation of the Duterte administration’s first tax reform package, which took effect on January 1.
“There is no other major explanation given that January is usually characterized by slow or weak demand,” Terosa said in an interview.
…
The TRAIN law cuts personal income tax rates while projected revenues to be foregone will be offset by higher excise levies on petroleum and automobiles, among others.
http://www.philstar.com/business/2018/02/06/1785152/consumer-prices-surge-3-year-high-january
As if that is not enough, the Philippine Stock Exchange suffered its biggest loss in a year in sync with big losses in the US DOW.
https://www.rappler.com/business/195308-philippine-stock-exchange-index-february-5-2018
http://money.cnn.com/2018/02/05/investing
How much the imported groceries now? Example Euro/Piso
http://www.xe.com/currencycharts/?from=EUR&to=PHP&view=2Y
The Savemore Marts should be renamed Save less.
Shopwise to unwise2shop.
The fall of PSEI is not consequential to internal factors. Equity markets all over the world plunged in the last few days. This is probably not a corrective price adjustment after a long bull run, which is good. I fear this is the start of a severe financial collapse i have been harbingering often. Equities market is finallly waking up to the reality the bond market is collapsing.
Items I picked up from wiki, relevant or not:
1. Credit market = bond market + bank loans + others (the first two are main components)
2. Global credit market = 3 times global equity market
3. Important part of the bond market is the government bond market
4. United States along with Germany are considered low risk countries for government bonds?
5. The US is supposed to account for about 44% of the bond market.
About the same but from investopedia.
For market in general.
https://www.investopedia.com/terms/m/market.asp
For equity market in particular.
https://www.investopedia.com/terms/e/equitymarket.asp
I am not familiar with the taxonomy of markets. Wiki states that US accounts for 44% of the bond market. I would hazard a guess that if one puts all of these (bond market, equity market, bank loans, etc.) the US accounts for roughly 50% of the total. So I hope that the US just sneezes at the moment and do not catch pneumonia just yet.
Something like this.
Thanks for the PIE, karl.
Source of the pie is from a forum.
https://www.bogleheads.org/forum/viewtopic.php?t=63306
I found additional reading.
https://finance.zacks.com/bond-market-size-vs-stock-market-size-5863.html
Using 2011-2012 numbers, second link says outstanding global debt market is twice the equity market. (Wiki says in my post above 3 times but this may be more current ratio). Again, second link gives 2012 number of US Bond Market of $37 trillion versus US stock market of $21 trillion, a ratio bond to stock market of 1.75. Thanks again karl.
Am learning as we go along.
From Chemrock’s additional inputs.
https://www.investopedia.com/terms/q/quantitative-easing.asp
https://www.investopedia.com/terms/f/financial-market.asp
NH, (3) is not exactly corrrect. In the past yes, but financial engineering in the fast few decades have created big chunks of corporate issues backed by derivatives., The problem is so big now because the past few years of QE by FED, EU and Japanese central banks encouraged corporations into an orgy of bond issues. It’s now more than $100 T.
Bonds trade on inflation. The yields are now fast rising, pointing to serious increase in inflation which the FED does not believe. Their data say no inflation. But markets don’t lie.
When fund managers dump bonds, they dump equities same time. This is due to traditional portfolios that maintain 60:40 bond:equities ratio. If they dump 30% of their bonds, they need to dump 30% of their equities.
Chemorock, thanks for your note on the changed picture of gov vs corporate bond market sizes, bond yield trend and fund managers behavior on bonds/stocks.
I am confused on the part that says FED does not believe yields rose because inflation rose.
Yellen announced that inflation will rise.
https://www.cnbc.com/2018/01/31/bonds-and-fixed-income-data-auctions-fed-decision-bonds-on-the-agenda-for-investors.html
A follow-up article.
https://www.cnbc.com/2018/02/01/us-treasury-yields-rise-following-feds-inflation-comments.html
Only fairly lately Karl. They pooh pooh inflationary pressures for quite a while
Ah, OK.
Still, they came up with TIPS just in case they were wrong.
For us (not inc you) not so financial literate.
https://www.investopedia.com/terms/t/tips.asp
good read . God is watching.
Hi Cristeta! Good to hear from you. Thanks.
Not sure what the financial fuss is about given the blog subject is about De Lima a year hafter she was unjustly jailed. No TSHers, the stock sky is NOT falling and neither is the bond market collapsing. Securities markets are like barnyards, with Chicken Littles panic selling in fear and greedy pigs getting slaughtered, and unemotional bulls and bears making money and not getting whiplashed by prices bouncing way up and down. No Virginia, global economic fundamentals are just fine for now and the real risk to the markets is political in nature…Trump igniting a nuclear war or Duterte plunging the Philippines into another ruinous dictatorship. At worst, barring the latter, a 10-15 per cent market correction after a 40-60 pct appreciation is normal even if it hurts a bit.
It’s good to hv a voice for calm. You’re right in that the economy is chugging along just fine. It’s just equities having a wake up call due to bond market fall. But the magnitude of today’s deals are worrisome. Let’s wait for some big funds n banks to surprise us again n see whether Trump will do bail outs as they always do for their wallstreet buddies.
Apologies to Will for digressing.
No prob, bro. Remember I’m in the financial services sector and Chempo is A1 intelligence.
Real time world market heat map below. As of this time, it looks like Japan, China, and Australia are feeling the heat more than US and EU.
I am with caliphman. Do not panic. Just ride the waves if you are not retiring in the near future. If you are retiring this year or within 2 years, study the market or consult your stock advisor. Stocks and bonds are being hit almost equally, crypto currencies are going down too. Gold will probably used as a hedge again.
https://www.cnbc.com/world-markets-heat-map/
I think the best way to recession proof one’s life is to start producing most of what you need to survive. Learn basic skills such as gardening, raising livestock, food preservation, sewing, bartering and other homesteading trades. Start learning how to be self sufficient and frugal and you’ll never have to worry about financial collapse.
Yay, to LCplX! 🙂
All my comments have not yet touched on Senator De Lima.
I hope she remains strong and continue with her prayers.
I am actually wary of saying something against Aguirre because I am not exactly anonymous and our town in the province is a just a small town.
But as I have said before, I do not condone all the fabrications he helped engineer or even engineered himself.
One more concern is Senator Trillanes.
It is just a matter of time and all the evidence that the admin says are non existent will be accepted, weder weder lang yan.
Since weder weder lang yan what won’t kill Senator Delima will only make her stronger.
And the winner is…
Those considering retirement might look at the Philippines as a good place to move. The weakening peso is a wonderful offset to any stock market declines and the adventure of being hunted for merely having an opinion is more exciting than any make-believe video game. There are shooting ranges for honing one’s skills and guns can be collected as so many pokémon cards. One can visit exotic reefs and see China dredging them up, and other surreal events. Observing government at work is better than those old “Three Stooges” films, albeit not as funny as George Carlin was.
hahaha…looks like you feel ”better” today….Good AM….
I’ve moved from grouchy to merely snide. 🙂 Good morning, Sup.
I think I prefer grouchy to snide. Snide has a shade of contempt while grouchy is just waking up on the wrong side of bed, or a result of the menstrual cycle.
Hahaha! (Last phrase.)
Thought about sending that to Wanda Tulfo-Teo? The “42 virgins” ad is not working. 🙂
😂😂😂
“Start learning how to be self sufficient and frugal and you’ll never have to worry about financial collapse.
Yay, to LCplX! 🙂 “
For sure, JP!
I’d add (per my talk with Bill Oz), fasting. Make fasting a habit, saves you money, it’s good for your body, and reminds you of humility (that plentitude is an illusion, food as grace always).
I’m experimenting with fasting (hence all the questions to Bill awhile ago), but I also got into the cultural and political aspects of said act, from Jainist https://en.wikipedia.org/wiki/Sallekhana (fasting to death) to hunger strikes.
As you know I’m not really a big fan of D5, but her place in time right now seems ripe for a hunger strike. I think knowing the science of diet, past hunger strikes by various personalities and figures, she can not only do a hunger strike but
elevate this political expression to the next level. A great idea would be , let’s assume Wil has declared D5’s hunger strike first on TSOH (a scoop!) , but before she begins she wants everyone’s take on how to do this , rendering the task as exponentially effective as possible,
not only in the Philippines, but thru history globally (ie. making said hunger strike viral , make it a teaching moment for over-consumption, etc. ) roll it out , create buzz , but more importantly make the act itself a legacy.
It need not be just about her case, but a wider stance protest against every other ill that have defines us (not just for Filipinos) but the modern world.
Hmm. Sen. de Lima gets copies of TSOH blog articles and comments as part of her Monday-Friday briefing. I’m sure she’ll read your thoughts on this, Lance. Sound advice. Thanks.
For a not so financial literate Pinas, 5-6, lista and all other utang including utang ng loob make Pinoys live to fight another day.
That maybe have to change soon though.
While there is still land, people who had farmer grand parents should let their kids be into agri business.
If no land is left, there is always urban farming, and JP some communities participate in urban farming here.
For fishing, I don’t have to wear shades because the future is not bright, To the west and to the East we have China sad to say, they control the north and south too.
From a Wakatitot financial expert:
A FALL in the value of peso against the US dollar is a blessing because: It’s good to devalue the peso because exports like commodities and OFWs will be cheaper and will be more in demand in the foreign market.
For example at an exchange rate of P50 to $1 a foreign debt of Peso 100 billion can easily grow overnight into Peso 104 billion at an exchange rate of P52 to $1. Ain’t that blissful ? Foreign debt grew by P2 billion more (that’s two thousand million pesos). If foreign debt comes in trillion ( say 3 million million pesos) how will that be paid by each of the 110 million? Please compute and correct this post of a Wakarang.
If you did not notice, you’re a wakatitot financial expert too. the example foreign debt in peso should have grown by four billion ( 4 thousand million) pesos.
Uy Uy Uy……
Looks like it is not only the Davao DDS CHR investigation That did ”agitate” Duterte
August 04, 2014
”De Lima appeals oil smuggling case ruling”
Last Friday, the Court of Appeals Former Special 10th Division reversed the Justice Secretary’s decision to indict Phoenix Petroleum Philippines Inc., its president and chief executive officer Dennis Uy and customs broker Jorlan Cabanes, for violations of the Republic Act No. 1937, or the Tariff and Customs Code of the Philippines (TCCP).
The appeals court ruled that Uy and Cabanes were deprived of due process when De Lima set aside the earlier resolution issued by Justice Undersecretary Francisco Baraan III that recommended the dismissal of the case against the respondents.
http://newsinfo.inquirer.net/626048/de-lima-appeals-oil-smuggling-case-ruling
Baraan, one of the players in the De Lima drug case
Also:
Duterte came to the rescue. The then-mayor said he called up the Bureau of Customs to warn them not to harass Uy.
https://www.rappler.com/business/175419-dennis-uy-davao-tycoon-duterte-connection
Why are the Dutertes always contacting Customs?
Impunity has never had it so good.
http://www.gmanetwork.com/news/news/nation/238617/despite-sc-tro-govt-stops-arroyo-from-leaving-phl/story/
Remember this Sup?
Yes..another reason….
But Uy is very lucky the last 2 years.
One blink of the eye and you miss it…
Phoenix eyes CNOOC Gas as LNG partner
Davao City-based businessman Dennis Uy plans to team up with China’s state-owned oil producer CNOOC Gas and Power Group Co. Ltd. for a proposed $2-billion liquefied natural gas project in Batangas province.
Uy’s Phoenix Petroleum Philippines Inc. was authorized to sign a confidentiality agreement with CNOOC, one of the companies that submitted an unsolicited proposal with state-owned Philippine National Oil Co. for the development the LNG project.
Phoenix Petroleum assigned merger and acquisitions and investor relations head Darly Eunika Malole “to negotiate the terms and proposed project, as well as to sign, execute, deliver, receive and receipt for and in behalf of the corporation any and all contracts, documents and instruments required to carry out the foregoing resolution pertaining to the said confidentiality agreement”.
Other companies also expressed interest in partnering with the government for the LNG project, including Korea Electric Power Co., Lloyds Energy Group, First Gen Corp., Energy World Corp., PT. Jaya Samudra Karunia and PT PGN LNG Indonesia/PT Bosowa Corporindo with local partner MOF Corp.
Mr president shame on you. You can’t win anything when act like a fool.
GOD Bless Leila De Lima
GOD Bless Leila De Lima. For all known you are pure of heart . you walk the path of our Lord. Much like John peter Paul. You are the woman of God. Not a fool .You are the guide many in the world look to. Thank you sweet pure angel. Thomas Vanderhoef