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I am talking this week with Lucian Croitoru, advisor to the NBR governor, whose views, however, do not express the official position of his institution. RC: Lucian how outrageous is it that after we got out of the tragic experiment…
Read moreBased on the spread rate and lack of specific information about the novel coronavirus, staying at home seemed like the only solution to prevent the situation from spinning out of control. All countries that enforced it early in the pandemic…
Read moreThe vernacular of those who deal in or broker investments cynically talks about “smart money” and “dumb money”. The former is managed by savvy professionals presumably able to take the best decisions regarding the amounts that they invest. Their choice…
Read moreAt the end of 2016 I put forward an idea that the intervening years has increasingly reinforced. It is, moreover, an idea that is strongly re-emerging as the world is being reshaped in the wake of the pandemic. I am…
Read moreThroughout human history the great powers have always made sure to get the lion’s share. The “great power” status, whether the source of power lied in the economy or their military strength, turned the countries into more than regional or…
Read moreMost often than not, global crises force humanity into change, greatly stepping up processes that were rather slow to develop. At this point in time, also, developments that initially would have taken decades to complete will be moving into top…
Read moreThe tens of thousands of views that “The countdown has started!” post has received are for me the measure of impatience and hope with which the public waits for even a partial return to an economically active life, aware that…
Read moreDo not let appearances deceive you. There is a clock that although not heard is ticking, measuring the time left before the economic collapse occurs. We just cannot stay home on money printed by central banks. We cannot hold onto…
Read moreThis is not a dictator making a run for it, but the beginning of a new and unprecedented phase of central bank intervention not just in the money market, but also in the real economy. Due to the pandemic, national…
Read moreI recently posted an unorthodox talk with the chief-economist of the Romanian National Bank, Valentin Lazea, when we agreed that the world’s economic development model was no longer sustainable. As a result, economic theories need to radically change and focus on…
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