Dangerous monetary policies

Published in Expansión

In my previous article “The Myth of the Central Banker” I tried to demystify central bankers on the grounds of their very mediocre forecasting track records and analyses of reality. Their decisions are too often influenced by the dynamics of power and public image, the short-termism linked to political cycles and the most primitive of …

READ MORE >>Dangerous monetary policies

The myth of the central banker

Published in Expansión

People at the helm of central Banks are currently enjoying huge power, recognition and public attention. The impact of the measures they take or simply announce (even if it’s merely a bluff), is still enormous. This power notwithstanding, their performance is hardly subject to supervision and, following the traditional privilege of the political class, they …

READ MORE >>The myth of the central banker

The European mess

Published in Expansión

The European set-up of today, that is, the one represented by the Brussels-based bureaucratic mammoth, the unelected representatives of 500 million citizens, the nineteen sterile and increasingly pathetic anti-crisis summits and the sloppy political invention of the euro, that European organization is in deep trouble, shaken on top of its three unstable pillars: France, the …

READ MORE >>The European mess

Austerity and reality

Published in Expansión

Austerity is the latest buzzword. In the good old days it used to be regarded as a virtue; today it only seems to mean bitter difficulty, severity and harshness. It shouldn’t come as a surprise, then, that austerity has brought so much criticism with it: easy tasks attract far more volunteers than difficult ones. However, …

READ MORE >>Austerity and reality

What if the peseta comes back?

Published in Expansión

The situation in Europe is worrying and we need to be realistic about it. It is not a matter of arguing about what it should be or what we would like it to be, but of understanding what it really is. To put matters into perspective we need to remember that the construction of Europe …

READ MORE >>What if the peseta comes back?

The emperor has no clothes

Published in Expansión

The Welfare State as we know it is unworkable and verging on bankruptcy. It set out to protect everyone and has ended up abandoning precisely those persons who need it most. We must have a workable system of social protection and, in order for it to be just that, workable, we must face the facts …

READ MORE >>The emperor has no clothes