As usual aspiring PhD in “economics” JC Punongbayan issues a biased assessment of what is driving a downturn in Philippine stock indices of late. In his recent Rappler piece Why is the PH stock market among world’s worst? (prefixed by the word “analysis” in all caps just to make sure readers recognise it as such), Punongbayan burns easily 80 percent of the bandwidth allotted to his “analysis” on parroting textbook fodder to explain what the share market is all about. The 20 percent leaves only a sophomoric analysis based on, true to Punongbayan form, incomplete data.
Using the word “data” in an assessment of a Punongbayan “analysis” is, for that matter, being too kind. Punongbayan’s thesis in this piece is that capital is fleeing the Philippines’ equity markets because of perceptions created by the government of President Rodrigo Duterte of an unstable business environment. Our PhD candidate cites the usual suspects — the TRAIN law, its imagined contribution to high inflation, and the “overheating” risks he conjectures the infrastructure programs of this government would cause.
But citing “perception” to buttress an “analysis” of the share market is a double-edged sword. Punongbayan conveniently or, shall we say, selectively leaves out the other edge — the ill perceptions being created by the Yellowtard-led Opposition in the manner with which they go to lengths to conscript their cronies in Western Corporate Media to the cause of slandering their own country. In fact, I point out in my earlier article that The Philippine Opposition’s only REAL goal is to SABOTAGE the Philippine economy, and that this nefarious media blitz is but the tip of the iceberg of a vast negative perception campaign being mounted by the Yellowtards…
The underlying thing that is notable amidst all this is how the Yellowtards are working closely with elements of the Communist Party of the Philippines in opposing the government of Philippine President Rodrigo Duterte. Many of the labour protests covered by Media have a common denominator — they are all supported by the usual suspects: communist-infiltrated “activist” organisations that draw their supply of warm bodies and hollowheaded “idealists” from university campuses across the country. This is evident in the familiar red flags being waved amidst rallying crowds and protest marches, the familiar “US-[insert name of current president here] Dictatorship” slogans being chanted, and the same personalities who have made “careers” out of leading these rallies.
…all for the purpose of creating an environment that could enable another one of their ouster bids.
So, again, Punongbayan arrives at a conclusion that stands on only one leg (i.e. the biased view that it is only Duterte’s actions driving market behaviour), further highlighting the sort of slant that has no place in a true scientific analysis.