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...
Weekly Market Update
Market Action Major U.S. benchmarks closed the week in positive territory for the year despite the lack of major data releases to support the moves. Technology led the week thanks to some promising earnings and news out of the sector followed up by Materials who are...
Weekly Market Update
Market Action U.S. stocks had one of their best weeks in the past five years. Better than expected earnings by some key companies, economic data and a technical bounce served as catalysts. Energy served as the best performing sector this week. Oil prices have risen...
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...
Weekly Market Update
Market Action Poor economic data and disappointing earnings weighed heavily on U.S. markets early in the week. While the election of Syriza in Greece added to volatility to markets in Europe shares across the Atlantic outperformed the U.S. during the week and have...
A Review of the Most Important Global Events in January by Monthly Barometer
Yet again and despite the fillip of collapsing oil prices, projections for global growth have been revised downwards - to 3.5% this year and 3.7% in 2016, down from respectively 3.8% and 4% last October (IMF). The largest growth downgrades concern Russia (-3.5...
A Better Alternative to QE for Europe: Ben Bernanke’s helicopter drop: Money for citizens, not banisters.
Despite all the advertising, launching quantitative easing (QE) in Europe may well be counter-productive. This is due in no small part to significant structural differences between the U.S. and European economies and capital markets. But that does not mean nothing...
Weekly Market Update
Market Action Markets got the sugar rush they had long been craving as Mario Draghi announced a QE program involving €60 billion per month starting next month through at least September 2016. Equities around the world rallied, including the U.S. where the major...
Geopolitical Journal: January 23
Geopolitical Headlines Saudi Arabia Saudi Arabia’s King Abdullah Azziz al-Saud passed away on Thursday at the age of 90. He had been hospitalized with a case of pneumonia for weeks. His half-brother Salman has assumed the throne to the Kingdom. Onlookers have long...
Fait Accompli: Searching for Answers Where Answers Cannot Be Found
As it is widely expected, the ECB will unveil today its own version of QE. Welcome to a dead-end where central banks may resemble Prometheus bound by chains made by his own hands! As I wrote late last year we may be entering a historical year where the greenback and...
