” Growth is an outcome, not a policy”
We seem to have forgotten fundamentals. Even Keynes recommended lowering taxes in periods of recession to boost consumption and investment. Sweden tackled recession cutting taxes (see here since 2006 corporate taxes to 22% and service sector VAT from 25% to 12%), and Chile, the UK and US have succesfully avoided tough economic environments by keeping low taxes to companies and job creators. Continue reading Cut Taxes To Boost Job Creation
“The ECB and the creditor nations cannot and will not save governments that are unwilling or unable to save themselves”. RBS research
Slovenia has suddenly been forgotten by markets despite a banking system with average non-performing loan rate of 20%. This is what mass liquidity does to markets. If the country is in recession and the markets remain weak, it may need between 9 and 13 billion euros between 2013 and 2015 (25-38% of GDP, according to JP Morgan). If it follows a bail-in process like Cyprus, it will likely impact European banks by c15 billion. Austria, Italy, France and Germany would be the most affected. Continue reading The ECB, Europe and The Real Growth Plan
This article was published in Spanish in El Confidencial
“A tax loophole is something That benefits the other guy. If it benefits you, it is tax reform.” Russell B. Long
“A war on tax havens is nothing but an Attempt to Increase taxes to prop up bankrupt welfare states, to continue feeding the leviathan” Charles Gave
” Dissent is the highest form of patriotism”, Howard Zinn.
In the past week there has been an enormous uproar in Spain created by an opinion article published in The Daily Telegraph under the title “Spain is officially insolvent” Continue reading Spain, Insolvency and The Telegraph