OmengPuro

Owning Less is Great, Wanting Less is Better

[OmengPuro @OmengPurow]

@DailyEdgeFx how do you choose to plot your FRVP?

[OmengPuro @OmengPurow]

@BrianTycangco Sad reality. I went to Thailand two years ago when the currency was at 1.60. When I went back last week, it was already 1.90 — almost double.

[Brian Tycangco 鄭彥渊 @BrianTycangco]

The Philippines has seen diesel prices DOUBLE so far this year because of its extreme dependence on imported fossil fuels and lack of adequate risk mitigation strategies.

No Strategic Petroleum Reserve. No supply chain coordination.
No emergency energy supply pacts with allies and partner nations.

Most local manufacturers already seeing 10% to 20% hikes in raw material costs while others reporting shortages due to lack of supplies from exporting nations.

Even if the Iran War resolves tomorrow, the unprecedented disruption to supply chains will take months to unwind. Expect end product prices to start climbing in April.

Peak summer travel season is about to hit this Holy Week just as P130 per liter diesel likely shrinks already tight travel budgets. The economic impact will be nothing short of severe.

[Brian Tycangco 鄭彥渊 @BrianTycangco]

The Philippines is staring down a double-barreled shotgun. It's loaded with...

🚨Soaring oil prices📈
🚨Plunging exchange rate📉

This, coupled with a near-total dependence on imported oil, very little domestic refining capacity, and no reserves whatsoever beyond private company stocks, is a recipe for P100-per-litre diesel/gasoline prices.

Oh, and the government also sold 1/3rd of the nation's gold reserves over the past five years while most other central banks have been accumulating it like crazy.

That's US$10 billion worth of gold the Philippines no longer owns. I would have paid for 100m barrels of oil, equivalent to 6-7 months of consumption.

[Brian Tycangco 鄭彥渊 @BrianTycangco]

The Philippines is literally getting screwed in this global energy crisis, and it is largely due to a lack of preparation.

President Duterte’s administration proposed the building a Strategic Petroleum Reserve (SPR) back in 2022 when oil prices started climbing on the heels of Russia’s invasion of Ukraine.

Inaction by the Department of Energy and lack of interest from the majority of lawmakers (save for the few who proposed it) have left the country fully exposed to the chaos unfolding in the global energy markets today.

The Philippines had all the opportunity to build a formidable SPR as oil prices fell between 2023 and 2025. As a nation dependent on imports for almost all of its petroleum needs, it makes no sense for the Philippines not to have an SPR. This is common sense.

So if you hear leaders cast blame on global events for rising cost of living, understand that they had all the time in the world to mitigate the impact.

[OmengPuro @OmengPurow]

@FacelessTrader do you still have an active discord group?

[OmengPuro @OmengPurow]

SHEIN REFER-A-FRIEND GAMEWin ₱5000 Credit & Coupon!
https://t.co/35x8xHTjry

[OmengPuro @OmengPurow]

#hoops #basketball #sunset #fiba #PhilippineSea

[LakeShowYo @LakeShowYo]

I WANT AN OFFICIAL INVESTIGATION!!!!

[Los Angeles Lakers @Lakers]

Pre-flight Polaroids 📸

[OmengPuro @OmengPurow]

inuna kasi pinalitan pangalan ng airport bago ayusin ang airport #naia brownout

[Romeo Travis @RomeTrav]

Games in the Philippines 😂😂

[James Lavish @jameslavish]

If you bought a home in the United States in the year 2000 for $250,000 cash and it is worth $433,000 today, you did not actually make any money. You just kept up with average inflation. And if you add in any cost of maintenance, you’ve actually lost money on the ‘investment’.

[David Michael San Juan @dmmsanjuan]

13 reasons why WE OPPOSE House Bill 6398 (Maharlika Investment Fund/PH Sovereign Wealth Fund) 🧵

[Philstar.com @PhilstarNews]

If enacted, the bill would order state pension funds GSIS and SSS, as well as state-owned lenders Land Bank of the Philippines and the Development Bank of the Philippines to provide an initial investment of P200 billion to Maharlika.

[Philstar.com @PhilstarNews]

FOR BUSINESS, NOT PLEASURE
Light banter was made during the meeting between Philippine President Ferdinand Marcos Jr. and US Vice President Kamala Harris, with Harris highlighting the diplomatic nature of her trip in the country.

[Jun Neri @Jun_Neri]

No doubt PHL infl is partly driven by supply shocks, but leading indications such as soaring imports & lower unemployment, accelerating loan growth is a clear sign that demand forces are behind it too. As discussed @jetmojica the credit card helps mitigate demand destruction 😉

[Team Liquid @TeamLiquid]

"You should never pursue something blindly if you don't enjoy the process of getting there."

Thank you for letting us take this journey with you @MATUMBAMAN 💙