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The greatest military victories in history would not have been achieved without the leaders of those times. People of sound mind do not willingly sign their death warrant; instead, they protect their lives and avoid evil. So what drove them…
Read moreRussia’s current reaction is justified by NATO’s aggressive expansion eastward. This is the theory that sparks heated debates, both among experts and the general public. Although I think it should be abundantly clear to everyone that no explanation, however elaborate,…
Read moreFleeing or rapidly moving away from danger is a response deeply imprinted in the animal subconscious as a way to ensure the survival. In any species of any size, sensing an imminent life-threatening danger triggers automatic, instinctive responses that cause…
Read moreHow pathetic can you be to expect the USA to find you alternative gas sources after stubbornly making sure to hand yourself on a silver platter to Gazprom? How pathetic can you be to hold dozens of high-level meetings to…
Read moreIn the US, in the UK, in the eurozone, in the EU, the inflation surpasses even the worst-case scenarios. The reasons behind it are presented as “exogenous”, namely they are somehow extrinsic, beyond the central banks’ control. But are they…
Read moreMore often than not, economic crises are the product of excesses: prolonged periods of low interest rates despite the overheating economy, exchange rates that do not mirror the economic competitiveness of the issuing country, excessive indebtedness resulting in default, budget…
Read moreAfter a long period of “blue sky” when any sign of a dark cloud was removed by the extremely low central bank interest rates and by investors’ frantic exhilaration (irrational, some would venture to say), emerging markets have started to…
Read moreA recent interview given to the journalist George Buhnici touched among other things upon the cryptocurrency issue. The explanations that I provided of why cryptocurrencies are in fact speculative cryptoassets that anyone can invest in as long as they know what…
Read moreFollowing decisions expected with some concern, Standard&Poor’s and Moody’s rating agencies have reaffirmed Romania’s rating. The concern was coming from the fact that a lower rating would have downgraded us to the non-investment grade category (junk). Such a label would…
Read moreThe gas market crisis in Romania, despite the existing reserves in the Black Sea, makes us wonder if the situation was avoidable and how quickly it will be resolved. In order to shed light on these issues, I invited this…
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