ECONOMISTS MAY be finally closing in on the reason for asset bubbles. How to pop them before they grow too large, however, is a much harder problem.

FOR ALL the flak the pharmaceutical industry has taken for its exorbitant pricing practices, there’s no getting around the fact that it’s been a pretty stunning decade for medical progress.

This continues the discussion started on Dec. 16 on aspects of the Concession Agreements (CA), which have been tagged as “onerous” and “grossly disadvantageous” by the administration.

Christmas is about love and peace. And hope.

It is not likely that US President Donald Trump will have a Merry Christmas. On Dec. 18, the House of Representatives voted along party lines (232--196) to impeach Trump for criminal bribery and wire fraud charges as part of the abuse of power charge of an alleged quid pro quo deal with Ukraine President Volodymyr Zelensky, The New York Times reported the next day. Trump’s troubles started in September, when House Speaker Nancy Pelosi initiated an impeachment inquiry presenting a whistleblower and alleging that Trump may have abused the power of the presidency by withholding military aid as a means of pressuring newly elected Zelensky to pursue investigations on Trump’s likely re-election rival Joe Biden and his son Hunter on their business dealings in Ukraine, and to investigate a conspiracy theory that Ukraine (not Trump’s friend Russia), was behind interference in the 2016 presidential election (NPR.org, Sept. 26, 2019). The US Senate, which is Republican-dominated, will make their decision on Trump’s impeachment in early 2020.

After President Rodrigo Duterte lashed out at the two water companies that hold concession agreements (CA) with the government via the Metropolitan Waterworks and Sewerage System (MWSS) Regulatory Office (MWSS-RO) on Dec. 3, the stock prices of Manila Water (owned by Ayala) and companies that own Maynilad Water (MPIC, DMCI, a Japanese firm) suffered significant declines starting Dec. 4 (see Table 1).

CELEBRITIES OFFER a simple marketing appeal in their billboard appearances. They are idolized by many and represent the aspirations of a targeted segment of consumers -- I can also use the bank of this famous beauty queen and get the same treatment (without her talent fees).

WITH THE holiday season in full swing, it’s time for my own annual tradition -- dispatches from the Christmas wars.

President Rodrigo Duterte’s repeated threats against ABS-CBN -- the latest his declaration that he will “see to it” that it will be “out” once its franchise to operate expires -- must be challenged and opposed, quite simply because it is wrong.

French philosopher Albert Camus once wrote, “Perhaps we cannot prevent this world from being a world in which children are tortured. But we can reduce the number of tortured children.”

INVESTMENT OPTIONS vary depending on the risk one is willing to assume. Investment advisers want to know their client’s investment philosophy to evaluate risk appetite. If the goal is just to conserve capital and perhaps get a modest return for income enhancement, the portfolio recommendation will favor fixed-income bonds, defensive dividend-paying stocks, or even time deposit.

THE HOUSE of Representatives has just impeached a United States president for the third time. I’ve talked about the politics of it before and will do so again as the action moves to the Senate. For now, I’ll stick with the substance of what happened on Wednesday.