WASHINGTON | When were US $92 million worth US $22 billion? On July 26, 2015. That was the day when Amazon presented its second quarter earnings.
Articles by Pablo Pardo
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CANCUN (MEXICO) | A long time ago, in a galaxy far, far away…” the Federal Reserve did not even announce its interest rate movements. Fed watchers had to infer the lending policy of the world’s most powerful central bank just by painstakingly perusing the documents–release, obviously, in paper–of the Fed’s open market operations.
WASHINGTON D.C. | March 18, 2015 | By Pablo Pardo | On December 19, 2008, George W. Bush announced that the US would allocate $13.4 billion to rescue General Motors. Between April 22 and June 1, 2009, Barack Obama provided the company with $36.1. In the end, the state ended up with a 61% of the stake of what is still the second largest car manufacturer in the world.
WASHINGTON | March 2, 2015 | By Pablo Pardo | Neil Irwin believes central bankers are the real heroes of the economic crisis that continues to bog down the eurozone. In his book ‘The alchemists’, the New York Times senior correspondent paints Ben Bernanke as a hero and ECB’s Jean-Claude Trichet, as one of the greatest villains.
WASHINGTON | By Pablo Pardo | Guess which country pioneered Quantitative Easing in Europe… Exactly: Germany!
WASHINGTON | By Pablo Pardo | Steven Cohen, James Simmons, Ray Dalio, John Paulson… And, above all, of course, Julian Robertson and George Soros. Hedge fund managers have been lionized, adored, despised and hated. And for good reason: the success of those investment vehicles is unparalleled. According to the New York Times, there are currently 10,000 hedge funds in the world, and the number is growing, with assets worth $2.8 trillion (€2.2 trillion).
WASHINGTON | By Pablo Pardo | Why do they call Economics the Dismal Science? In theory, because it is about using limited resources to satisfy unlimited needs. In practice because, no matter what, everything is always bad in Economics. Case in point: cheap oil.
WASHINGTON | By Pablo Pardo | Do you want a Who’s Who of the Republican talking heads? If so, go to this list. Those are the luminaries that asked the Federal Reserve not to go ahead with the Quantitative Easing in 2010, for fear of inflation and currency debasement. Four year later, inflation is nowhere to be seen, and, according to the IMF, the US dollar has strengthened its role in the monetary system.
WASHINGTON | By Pablo Pardo | Lefty populism is on the rise in Spain, helped by the financial crisis, and a cascade of scandals that has so far tarnished all the traditional (i.e., pre-existing) parties from the Left and the Right. Podemos, the leftie, Hugo Chávez-inspired party that advocates defaulting on the Spanish debt (to the delight of The Financial Times) could win the elections, according to some polls.
WASHINGTON | By Pablo Pardo | Having €2.83 trillion in the bank and not knowing what to do with it is a problem that everybody would love to have. But it is actually a really serious problem for 316.1 million Americans, especially for those whose income increased by 0.43% in 2013. And, by extension, for the other 6.8 bn of human beings in the planet. Behind this problem there is a lack of investment opportunities, without which investment in the US will remain in a state of weakness and heavily dependent on an inability to increase consumption.