The EU, the Strings of the Market and the Phantoms of Credit: Seeking the Deus ex Machina
The markets celebrate today the outcomes of the EU summit. The delusion that through more debt and political manipulations the cancer can be treated is truly the amalgam of illusion in the garden of fantasy. No real substance, which reminds me of what a dear friend...Emergency Liquidity Assistance (ELA) and Financial Tremors: Useful Idiots Part III
About two weeks ago, we were assured by the government in Spain that they only needed about €50 billion for their banks. All of a sudden the €50 billion became €100 billion and we are still counting. Welcome to the new math where besides addition through subtraction...Parasitic Structures and Monetary Entropy: Basic Instructions Before Disintegration
Fifteen years ago the global markets were getting ready to “welcome” the Asian financial crisis. The cause of that crisis? Declining multifactor productivity from Thailand and Taiwan, to Indonesia and S. Korea. The symptoms of that crisis? Trade deficits, overvalued...European Shocks and Strategic Disintegration Part IV: Useful Idiots in the Land of Ds
I love dogmas (our first D). I know that in politically correct terms, dogma is an antiquated term that should die. However, dogmas are like the oxygen. You may not be able to see the oxygen with the naked eye however you cannot live without it. There are some...Sign Up for Our Publications
