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China wants an alternative for the dollar
China is stepping up its efforts to show its unease with the US dollar. The Chinese reserves are predominantly invested in USD. The US are pursuing an unconventional policy to fight against deflation, buying US Treasuries, toxic debt and almost everything in between. China smells the risk of devaluation, and this explains ...
The Geithner plan: let's create the biggest hedge fund in the world
I will spare you all the details, but the Geithner plan is basically the creation of a government-run hedge fund, in which all possible clients are invited to participate. The difference with a hedge fund is the remuneration of the managers of the fund (which will not be the typical 2/20 rule), their offices (which will be ...
Een fatsoenlijk bankier komt met voorstellen
Opmerkelijk: Floris Deckers, de grote baas van het Nederlandse Van Lanschot, biedt zijn excuses aan en geeft meteen zes aanbevelingen voor het herstel van vertrouwen in de banken. 1 Banken waarvan het bedrijfsmodel niet nadrukkelijk een echte vraag van echte klanten beantwoordt, hebben geen toekomst meer. ...
Shumpeter (bis)
The Belgian government has decided not to develop a second recovery plan. The first one was already a very light menu of candy for consumers and companies. In my opinion, the best measure is in what the government is not doing. No budgetary stimulus for unnecessary projects or increases of replacement wages and ...
A Golden Bubble
The chart above suggests that gold is in the early phase of a bubble. This implies that the price of the yellow stuff could start to rise more spectacularly in the coming year, to crash back to earth later. Shorting gold therefore would be quite dangerously. National banks around the world have been selling their gold, or leasing ...
"The fed didn't cause the housing bubble"
Alan Greenspan has written a remarkable column in the Wall Street Journa l, entitled : The Fed Didn't Cause the Housing Bubble - Any new regulations should help direct savings toward productive investments. Greenspan makes the subtle difference between 'low interest rates' (fixed by his ...
A brief proposal of Shumpeterian government policy
Economists around the world are promoting Keynes to the government. Given current circumstances, if I had to chose between Keynes or Shumpeter however, I would go for the latter. This being said, 'creative destruction' can never be achieved without government measures. These policies should not address primarily the companies in ...
Loyauteitscrisis
We gaan vandaag gebukt onder een financiële crisis en een economische crisis. Maar er is méér: economie is uiteindelijk maar een vertaling van menselijk gedrag. Als dat groepsgedrag op hol slaat, krijgen we overdrijvingen die we bubbels noemen of collectieve waanzin. Die overdrijving kan zich manifesteren op de beurs, of in de ...
Developed = (debt) rich?
I was looking at the chart from 'The Economist' on public debt of selected G20 countries. The trend is scary. On the other hand, the difference between developed and emerging markets is not a qualitative one. Emerging countries have often better economic fundamentals than the developed. Quite a difference with the recessions over ...
Einde van de belastingparadijzen?
De Franse President Nicolas Sarkozy duwde Zwitserland nog wat meer naar de afgrond. Hij zei dat het Alpenland op een zwarte lijst van belastingparadijzen zou kunnen komen. Dit kan belangrijke gevolgen hebben, en het einde betekenen van een welvarende Zwitserse banksector. De samenstelling van deze lijst zou op 2 april in ...















