JessicaRulestheUniverse.com

Photo: The Vision of St. Augustine by Carpaccio

Question:
1. What is your background? What is your current line of work? If your line of work is not related at all to economics /finance, how did you come to so much edification?
2. Are you currently enjoying a level of wealth that is significantly (2.5 to 3 standard deviations) higher than that of the typical middle class pinoy?
3. More importantly, did you attain majority of this level of wealth from means other than any of the following (Answer is just a yes or no): “public service” aka politics; showbiz/winning in a game show /reality show; gambling; suing someone for money; inheritance
4. Any other reasons why we should believe you? (No, not looking for words like PhD, DPhil, MPhil, CFA, FRM, etc)

Adams Myth:
1. Fortune teller. I am paid to see the future.
2. Yes, unfortunately. The national leadership is to blame for the stagnancy of middle class fortunes.
3. No.
4. You don’t have to believe me.

Q: I am an accountancy graduate currently working as a call center agent. While I do have plans to review this coming May and eventually hurdle the board exams to become a CPA, my 20-something salary for being a tech support agent is giving me second thoughts. What’s torturing me is the hint from my supervisor that given my current metrics, I could be promoted. On the other hand, I would also like to pursue the career that I studied in college. So here’s the question: Should I resign from my job and trade the probable opportunities for being a full-fledged CPA instead? I’m 21, just in case age might have a bearing.

AM: If you are good, the dilemma will always be there. And the opportunity cost of taking time out to do your CPA will simply rise as you progress in your career. Bite the bullet early.

Q: Why are movie tickets priced the same? From Hollywood offerings that cost so much more to make (US$100+million) to local indie offerings that cost one million pesos? Why, when I go to see them at the theaters, are they are both priced at 150 pesos? What happened to double features? And that overpriced popcorn. . .

If the movie costs more, shouldn’t they charge more? And if it costs less, shouldn’t the charge be less? Why are there no refunds at the movies?

AM: Very good question. Ever wondered why CDs cost the same, whether by U2 or the Mormon Tabernacle Choir?