The Economy and the Necropolis of Troy: On Mobs, the Arab Spring, and QEs
The events that shaped last week – and potentially the weeks and months, if not years to come – had both geoeconomics and geopolitical dimensions. In situations like these, the beneficiaries could be viewed as those who shape the path towards the ultimate...The ECB Chants In Paradisum: Seeking Safe Collateral in the Midst of Delusion
Last Thursday, Mario Draghi the President of the ECB indicated willingness to start again his “asset purchases program”, baptized this time with the title of OMT (outright monetary transactions) a.k.a. issuing electronic money/credits to purchase the paper of troubled...The Great Bailout of Germany
It has been almost three years now since the rumors started that something was rotten with the Greek public finances. Excesses have been documented. Wasteful expenditures, inefficiencies, and corrupt practices have also been documented and dominated the news. There is...On Risk Premiums, Earnings Growth Potential, and Monetization Routes: Diminishing Returns and the Liquidity Tree
Over the last few weeks, we have argued that we are entering a watershed moment in economic and financial history, when significant decisions have to be made, since kicking the can down the road has its limits. The risks associated with those decisions are not...European Disintegration and the Mystery of Institutional Hangover: Living in the Times of Capital Flight
There are good chances that the EU – as we know it – may be headed towards its last tango, made in Berlin. It seems that the EU has lost its innocent anonymity and is disillusioned to the point of not just encouraging capital misallocation but rather losing its...Sign Up for Our Publications
