Will Greece’s default bring down the Euro?
… or will the Euro bring down Greece? (That second question, which by and large I will equally deny, will be more thoroughly dealt with in a future post.) In an interview in today’s Frankfurter...
View ArticleBloom of Doom IV: Safe Assets and Sore Surprises
Many still think sovereign debt is safe (although I’d like to know how many “elder statesmen” still invest in these “assets” themselves today). This is astonishing at the best of times: would you give...
View ArticleBloom of Doom V: “We have control of the ship, we have a plan”
“We have control of the ship, we have a plan” is what Spain’s deputy premier María Teresa Fernández de la Vega is meant to have said in response to mounting fears of sovereign default. (See more...
View ArticleBloom of Doom VI: Will China Survive the Crisis?
China. like Japan in the late seventies and 1980s, has been dubbed an economic miracle. What if, like totally bankrupt Japan, this giant just stood on feet of clay, a zombie, a dead man walking? Are...
View ArticleEconomic Musings II: The Euro as a Basket Case
How not to Introduce a New Currency The Euro has been touted as something of a capstone of the European Unification project. Now it may well prove its stumbling block. How ironic. And at the same time...
View ArticleEconomic Fallacy VI: The Divisive Multiplier
There is a widespread believe that if governments inject a certain amount of money into “an” or “their” economy, it will miraculously multiply and bear fruit beyond what was invested. This is one of...
View ArticleBloom of Doom VIII: US Figures Stronger than Feared
If you think the title is a contradiction, well, not more so than the idea that debt or subsidies could increase wealth. Where truth can’t win by argument it needs to do so by stealth (that almost...
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