The Here and Now: Market Myopia Meets Financial Presbyopia
It’s a pity that the market participants’ focus is on the childish political theater in Washington D.C. which is nothing but a symptom of a greater problem. Nations like families and individuals should restrain excessive spending habits (especially those that advance...Cadmus in Search Of Europa: Could the Greek Economy Recover like that of Latvia?
The headlines of this past weekend edition of the European edition of the Wall Street Journal read: “Debt Targets for Greece Questioned”. In the article Klaus Regling, the managing director of the European Stability Mechanism states that the targets for Greek debt...Crescit Eundo: Collateral and the Deterministic Path of a Logical Irrationality
It seems that the Latin phrase Crescit Eundo (it grows as it goes) fits well into the Fed’s modus operandi. In its latest attempt to justify the non-tapering, the Fed told us that fears of slowing growth, interest rate rising, and Washington infighting about the...On the Art of Central Banking: The Challenges Ahead
Our Federal Reserve Bank, the ECB, and other central banks of developed nations face a paradox: the same institution that is supposed to hold the ultimate reserves of the commercial banks has a duty of lending those reserves to the banks that are in trouble and which...On the Road to Damascus: Machiavellian Anatomy and Market Romanticism
One of my favorite songwriters (Rich Mullins) – who died prematurely sixteen years ago – wrote the song “On the road to Damascus”. Let’s recall some of those lyrics: On the road to Damascus I was hung in the ropes of success When you stripped away the mask...Sign Up for Our Publications
