An Attempt to Explain Stagnation, Growth, and Inflationary Episodes in the Post Bretton Woods II Era: The Absorption Framework
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...“It is Finished”: Financial Institutions, Economic Stability, and Hades
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...10 to Midnight in the Garden of Credit: Socrates Wonders About Cardinal Rules, Historical Precedents, Matter-Antimatter, and the Fantasy Era of Fiat Money Creation
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...Lasciate Ogne Speranza, Voi Ch’intrate: Dante Meets Pandora in Aphrodite’s Island a.k.a. Cyprus
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...At the Intersection of Geopolitics and Geoeconomics: Francafrique Meets Africom
Objective: The energy independence of Europe, the containment of China in Africa, and the development of African assets Goal: Breaking the energy ties between Russia and Europe, limiting the transfer of operational assets from African nations to China, and the...Sign Up for Our Publications
