Princes of the Yen

In this outstanding documentary, loosely based on Professor Richard Werner's book with the same title, we can not only better understand the post WWII japanese economic history, but also comprehend how "independent" central banks were introduced in Asia, first in Japan with the legal modifications induced by the 1989-1990 japanese stock market crash and, later, … Continue reading Princes of the Yen

Sovereign Default History

  Today Argentina defaulted on its external debt for the 8th. time since 1800 AD. The Economist publishes this chart ranking countries on the criteria of how many times they have defaulted on their external debt in the last 214 years. Curiously both Germany and Portugal have defaulted 4 times. Nothing seems to last (or … Continue reading Sovereign Default History