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

0,1% > 90%

The increase in inequality in the western world is a theme that is increasingly discussed. Occasionally you come into a statistic that in a very simple way explains the degree of inequality that has been "achieved". The Economist publishes this chart where it is easily visible that the top 0.1% of the USA population in … Continue reading 0,1% > 90%

Smedley Butler revisited

    According to Wikipedia "Smedley Darlington Butler (July 30, 1881 – June 21, 1940) was a United States Marine Corps major general, the highest rank authorized at that time, and at the time of his death the most decorated Marine in U.S. history. During his 34-year career as a Marine, he participated in military actions in the Philippines, … Continue reading Smedley Butler revisited

Breakfast inflation

One of the least discussed and at the same time most important aspects of this economic crisis is the discrepancy between official inflation measures used by the FED, the Consumer Price Index( CPI) and, specially, Personal Consumer Expenditures (PCE), and the real inflation experienced by real people. One example of this last real inflation is … Continue reading Breakfast inflation

Arrogance, Hubris and Evil

The leaked phone conversation today between the EU foreign affairs chief Catherine Ashton and the Estonian foreign affairs minister Urmas Paet, where the estonian minister stated that "There is now stronger and stronger understanding that behind the snipers, it was not Yanukovych, but it was somebody from the new coalition," gives credence to the article from … Continue reading Arrogance, Hubris and Evil