“The debt compromise is like eating a Satan sandwich” Emanuel Cleaver
Yesterday I heard again a sentence that tends to be repeated frequently: “Deficits support growth”. It assumes with his claim that increasing deficits helps economic recovery, rather than see that such recovery is much slower and fragile precisely because of the large deficits and the cost of financing them with taxes. Continue reading Debt Is Still The Problem
“It’s not how far you fall, but how high you bounce that counts.” Zig Ziglar
I have mentioned in interviews for a few months that indicators show that Spain is bottoming out and showing signs of improvement. Nobody can deny that in the past I have always doubted the so-called “green shoots”, but this year the encouraging data accumulation is significant. Continue reading Spain, Bottoming Out
“Recovery begins from the darkest moment” John Major
We have started to see signs of optimism in Europe supported by a macroeconomic environment that, far from being attractive, is showing some encouraging data. But the fragility of the recovery is still high.
Continue reading European Recovery Underway… And Its Threats
Surely you have read that a bank intern at the City of London sadly died a couple of weeks ago after allegedly working 72 hours straight. Well, if you have read the chronicle of the press, you will probably be horrified at the description of “inhuman hours’, deaths and suicide in the financial sector. Nothing is further from reality. Continue reading Death in the City of London, Demagoguery and Mediocrity