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This time is not different: how banks transfer risks to taxpayers

This time it is not different. Carmen Reinhart and Kenneth Rogoff try again, in their latest fatigue “From financial crisis to debt crisis” published in the American Economic Review, to disentangle causal patterns  between debt, banking and currency crises. “The … Continue reading

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Spanish analogy number 2. Analogia spagnola numero 2.

Madrid, Day 1. Visit at the Prado. Madrid, giorno 1, visita al Prado. “Representación de los fusilamientos de patriotas de Madrid por el ejército de Napoleón, como represalia al levantamiento del 2 de mayo de 1808 contra la ocupación francesa. … Continue reading