The future, including the economic future, tends to largely resemble the present. Economic projections are made as if they are preludes of fabulous changes, but most of them, if not all, are simple extrapolations of what is already known today. Real, significant economic or political changes are unpredictable; in fact, [Read more]
The market is always right: a sentence uttered many times, and yet it still doesn’t mean anything other than to reveal the intellectual vacuity of the financial world.
If we were to use the bankruptcy of Lehman Brothers as our date of reference, barely eight years have passed since the beginning of the global [economic] crisis. Since then, the majority of expert opinions have remained in the zone of traditional explanations — that is, it has examined the situation, which has been [Read more]
Yesterday, the U.S. Federal Reserve decided to keep interest rates at their current levels and postpone the predicted increase until a time at which the increase will produce more favorable results. The Fed's decision is a prudent response to the complex circumstances surrounding the United States' economy and the [Read more]
The world has become addicted to unconventional measures and low rates. But like all drugs, the latter can have harmful side effects.
America’s central bank is finding it difficult to know what the rates of unemployment and inflation are in the United States. It is wavering on toughening its monetary policy, especially as Congress will not forgive it if it makes the wrong move.
When an economic body maintains steady growth but low interest rates, this produces not only an economic bubble, but also a plague.