Two days ago the third plenum of the Chinese eighteenth central committee meeting ended and all indications point to an historic event. Third plenums tend to consolidate power for the […]

Goethe’s insights into the seriousness of the problem of historical epistemology reminds us that in human history some have chosen to reject the notion of historical truth by diverting their […]

The essence of this commentary is twofold: First, to explain how and why the rising levels of financial lubrication are expected to generate and support a rally in equities and […]

In a interview on CNBC Mario Draghi (the head of the European Central Bank, ECB) told us yesterday that he is concerned about capital insufficiencies, balance sheet holes, and backstops […]

In Shakespeare’s play titled “Othello” we discover an acrimonious manipulative protagonist in the person of Iago who envisions the downfall of Othello. Iago’s plans are not just convoluted. They are […]

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 […]

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 […]

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 […]

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 […]

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 […]