Alea Iacta Est: Has the Die been Cast on the Eurozone?
Fact 1: In the early 1990s, if it were not for Europeans and the US, Germany would have had a pretty rough and bumpy ride towards its reunification. The direct and indirect funding provided by both sources made the difference for Germany. Fact 2: To keep attracting...Seisachtheia Meets the Markets: The Fed, the Yuan, and India
First of all, a special note of thanks to a good friend (IKM) who recently reminded me of the concept of Seisachtheia. Thus, a historical reference is needed first (please note that this is not a diatribe on the concept, and I am only using the pertinent clauses of...The Markets in Purgatory
They did it again. They rolled the dice again in favor of $600 billion in purchases, and when we count the repurchases of other paper-instruments (e.g. mortgages and MBS), the amount becomes larger, and that’s for starters. What puzzles us is that all media refer to...Negative Yields, Inflationary Expectations, and Portfolio Allocation: In what Directions is Sisyphus Pushing the Rock?
Just a few days ago the auction for TIPS (Treasury Inflation Protection Securities) produced for the first time ever negative yields. When we take into account that TIPS’ correlation with the conventional inflation measure (CPI) barely exceeds twenty percent, then we...ΙΣΧΟΜΑΧΟΣ ΚΑΙ ΑΣΤΑΘΕΙΑ: CUI BONO?
Πολλά έχουν γραφτεί και ακόμα περισσότερα έχουν ειπωθεί σχετικά με το δίλημμα που έθεσε ο Πρωθυπουργός όσον αφορά το αποτέλεσμα των περιφερειακών εκλογών. Θα ήθελα να ανατρέξουμε κάποιους αιώνες πίσω, μεταξύ 390 και 360 π..Χ. Στον «Οικονομικό» του Ξενοφώντα. Ο...Sign Up for Our Publications
