Will Bitcoin Go the Same Way as Liberty Reserve?

Virtual currencies were hailed as revolutions. They were the way forward, the way to overhaul the system and the way to replace the Dollar, Sterling, the Euro and the rest of them.  But, just last week Liberty Reserve was closed down for illicit transactions and money-laundering activities that could have nothing more than repercussions for…

Joseph Stiglitz Was Right: Suicide

It’s a rare man that is recognized for his achievements during his own lifetime. Normally, the geniuses of the world have to wait until they are dead to get any sort of recognition, let alone strike it rich. We never like giving recognition to people as it makes our own status decrease. Except, that’s more…

The Economy: What Went Wrong?

Just like children we have built our world on optimism, selecting certain elements that are keystone parts to our own construction, in order to make ourselves look good. We have forgotten that things were not quite as rosy as we have made out for the past decades in which we have controlled this world in…

China: The Great Economic Transformation

The Great Economic Transformation! The Chinese are suckers for adjectives to describe and give power and eminence to their attributes, actions or constructions. The Long March. The Cultural Revolution. The Great Wall, the Yellow River. A good adjective always makes it sound as if it’s true. The Chinese have taken over as the superlative attributor…

It’s Not The Dollar that’s Dead, It’s the USA!

“When the going gets tough, the tough get going” is a wonderful piece of linguistic wizardry. It can be read in two different ways. Either the 'tough' become fully engaged in combat and fight it out till the bitter end or the ‘tough’ up sticks and move out. It was supposedly Joseph P. Kennedy (father…

How to Predict the Upturn?

In these troubled times, there are things that are much nicer to think about or look at as indicators of how business is going and who’s buying what and who’s off-loading where. It’s not all boring traders sitting behind desks and beads of sweat dripping down foreheads, and scoffing sandwiches and choking on pretzels as…