Drying Up The Collateral Base
Since 1873 the world has suffered two periods of great deflationary pressures: the first one from 1873-1893, and the second during the Great Depression in the 1930s. We may be facing a third one (at least according to several analysts), which has been forcing the...“Quanto Sia Vana Ogni, Quanto Fallace Ciaschedum Disegno”: The Economics of Turmoil, and the Financing of Dysfunctionalities in the Midst of Volatile Markets
Lorenzo the Magnificent (the scion of the Medici banking family), whose lending institution dominated not only Florence but much of Europe, was also a poet influenced by Horace and Catullus. The Latin phrase above reflects the first two lines of one of his sonnets....Overfed but Still Malnourished: The Aegean Sea Meets Singapore
About a year ago in a meeting we had in Warsaw, Poland I contrasted Jamaica and Singapore. The contrast was based on a simple observation/fact, which stated that those two countries started at almost identical positions in the early 1960s, but Singapore excelled since...Warning: Head-On Collision Ahead
Close to twenty years ago, the Eurocrats decided to defy the laws of gravity in economics, and they started designing a common currency without a fiscal union. Their thinking was straight-forward: “If we suspend the law of gravity, the Euro will be sustained (like if...Sign Up for Our Publications
