Can you Hear the Oceanic Thunder? Moral Hazard Reigns Supreme in the Land of Plenty
Just a few days ago an event took place in Australia that received very little coverage. Fearing a run on a bank the Australian government guaranteed deposits up to $1 million AUD (Australian dollars)! How the government plans to pay for that is another story. Maybe...Senor, Is this About Production of a Show by Means of Placebo Effects? Market Trajectory, The Greek Bond Oversubscription, the Failed Chinese Bond Auction, and Mr. Nitup
What a week! It had everything. The Greek bond offering was oversubscribed four times while the Chinese bond auction failed! This is great, isn’t it? Greece is the new China. The problem is that China is a bubble, and we all know that sooner or later bubbles burst....A Discussion about Crimea and Russia in St. Petersburg: The Eagles’ Echoes
I landed in St. Petersburg around midnight. Got into a taxi (an old Volga bought by the driver in former Eastern Germany when he was serving there on a special assignment) and we started driving toward the hotel. The driver’s name was Nitup. From the very start the...The Shadows of History Confront the Appetite for Risk: Consolidating the Upward Trend
In 1940, the then Soviet Union overthrew the governments of the Baltic nations (Latvia, Estonia, and Lithuania), rigged the elections, and forced the newly “elected” governments to request admission into the USSR. Today’s Russia plans to annex the Crimea region after...“Veni Vidi Vici”: “Cur Ante Tubam Tremor Occupat Artus?”
The first part of the title above – meaning “I came, I saw, I conquered” – was pronounced by Julius Caesar in 47 B.C. when he emerged victorious over Pharnaces, the king of Pontus. The second part is taken from Virgil and means “Why should fear seize the...Sign Up for Our Publications
