by John E. Charalambakis | May 3, 2013 | Commentaries, Uncategorized
A few days ago Jose Manuel Barroso (President of the European Commission) declared that austerity has its limits. The Eureka moment which says that you cannot add by subtracting finally arrived in the EU. When Archimedes proclaimed the “Eureka” moment he run with...
by John E. Charalambakis | Apr 13, 2013 | Commentaries, Uncategorized
I do not think that we would have had a hard time if we desired to find alarming market signals. However, the message from the markets seems to be a resilient one. This past week new record highs were achieved, while the arch-enemy of fiat money (gold) reached its...
by John E. Charalambakis | Apr 2, 2013 | Commentaries, Uncategorized
I think we are all puzzled by the fact that despite the pumping of credit via monetary reserves in several western nations, we still feel that stagnation prevails and certainly growth is not optimal. At the same time we are still wondering why we have experienced so...
by John E. Charalambakis | Mar 29, 2013 | Commentaries, Uncategorized
Last Thursday (March 28) professor Simon Johnson of the MIT (former chief economist of the IMF) published an excellent piece in his blog (http://economix.blogs.nytimes.com/2013/03/28/the-debate-on-bank-size-is-over/#postComment). Needless to say that nothing else...
by John E. Charalambakis | Mar 23, 2013 | Commentaries, Uncategorized
The unfolding events – by the hour – in Cyprus shine light to a historical precedent: When the next crisis comes around bank deposits may not be spared. This is presented to the public as a “just” decision due to the Cypriot “banking sins”. We will be exploring...
by John E. Charalambakis | Mar 17, 2013 | Commentaries, Uncategorized
In Dante’s Inferno, the poet is guided in the underworld by the great Roman poet Virgil. As he enters the gate of Hell (Inferno) the inscription reads “Lasciate ogne speranza, voi ch’intrate” i.e. “abandon all hope those who enter”. It seems that the EU leaders...