The Spanish housing boom goes bust. "Some 65km from Madrid, in the quintessentially Spanish heart of a country riven by competing regional identities, Valdeluz – the notorious ciudad fantasma (ghost town) of the crisis – was conceived at the height of what is sometimes called Spain’s economic miracle. In a Catholic nation, whose faith has declined substantially during its three decades of democracy, there is an increasing reluctance to believe in miracles of any kind."
posted by Occam's Aftershave
on Aug 6, 2014 -
Financial Markets, Politics and the New Reality: "Louis M. Bacon is the head of Moore Capital Management, one of the largest and most influential hedge funds in the world. Last week, he announced that he was returning one quarter of his largest fund, about $2 billion, to his investors, [saying] it is impossible to make money when there is heavy political involvement, because political involvement introduces unpredictability in the market… Adam Smith and David Ricardo, who modern investors so admire, [never] used the term "economics" by itself, but only in conjunction with politics; they called it political economy… The investors' problem is that they mistake the period between 1991 and 2008 as the norm and keep waiting for it to return."
posted by the mad poster!
on Aug 9, 2012 -
As the former head of Deutsche Bank, Hilmar Kopper was once the most powerful banker in Germany. In an interview with SPIEGEL, the 76-year-old takes stock of his career and the current crisis shaking Europe. The three main constants he has seen in the world, he says, are "money, avarice and greed."
posted by chavenet
on Dec 30, 2011 -
Why Africa is leaving Europe behind:Africans are relishing something of a reversal in roles. The former colonial powers in Europe are wrestling with debt crises, austerity budgets, rising unemployment and social turmoil. By contrast much of sub-Saharan Africa can point to robust growth, better balanced books and rising capital inflows. There is an opportunity in this novel scenario: for Africa to assert itself on the global stage, and for European countries to take advantage of their historic footprint in Africa by stimulating commercial expansion to their south. But it is far from clear either side will grasp it. Recently.
posted by infini
on Aug 21, 2011 -