Daniel Lacalle is Chief Economist at Tressis, SV a PhD in Economics and author of Life In The Financial Markets, The Energy World Is Flat (Wiley) and Escape from the Central Bank Trap (BEP)
A few months ago Guillermo Gortázar told us that the bailout of Cuba has cost Spanish taxpayers 1.5 billion euros and a deferral of a similar amount by 18 years. The cancellation of the regime’s debt by some countries, unfortunately, has not helped to promote freedom and democracy, but to perpetuate the dictatorship. Continue reading Do Not Forget Cuba
Very few people pay attention to the debt ceiling risks, and for a reason. The debt ceiling has been raised 74 times since March 1962. I commented it in the BBC as far as 2013 (here). It is, therefore, logical that investors and citizens believe that it will be raised yet again in September. Continue reading The Debt Ceiling… And Why It Matters
The FT recently run an article that states that “leading central banks now own a fifth of their governments’ total debt”.
The figures are staggering. Without any recession or crisis, major central banks are purchasing more than $200bn a month in government and private debt, led by the ECB and the Bank of Japan.
Continue reading Are Central Banks Nationalising the Economy?