Articles by Pablo Pardo

About the Author

Pablo Pardo
Pablo Pardo is Washington DC correspondent of El Mundo. Journalist especialized in International Economics and Politics.
Federal Reserve disappoints market

The US: Monetary Socialism

Pablo Pardo (Washington) | If in any country the word “socialist” is an insult, it is in the US of 2019. “Socialism” has become the war cry of the Republican party against the opposition Democrats, who control the House of Representatives, in large part because the media star of this party in the Congress, Alexandria Ocasio-Cortez, describes herself as a “democratic socialist”.

"The 48 debt crises of the last 100 years are all the same"

“The 48 Debt Crises Of The Last 100 Years Are All The same”

Pablo Pardo (Washington) | Many consider that his hedge fund, Bridgewater, is a sect. A sect in which the guru is the fund´s founder, Ray Dalio. A guru who is now semi-retired from the front-line of managing the fund, and dedicates himself to spreading his ideas about the world, life and the markets. Ideas which are captured in his best seller “Principles”, published in Spain by Deusto, in which he develops his philosophy of life and the markets in 608 pages with autobiographical touches.


From El Padrino pizzas to the Federal Reserve

From The Godfather pizzas to the Federal Reserve

Pablo Pardo (Washington) | Donald Trump could nominate Herman Cain, an eccentric businessman who has accumulated various scandals and a questionable economic baggage, as a board member of the Federal Reserve. Cain is famous for having directed the El Padrino pizza chain and also for having been a senior executive at Burger King.

"They ignored us in Europe, but when interest rates are at zero you have to use fiscal stimulus"

“They Ignored Us In Europe, But When Interest Rates Are At Zero You Have To Use Fiscal Stimulus”

Pablo Pardo | “In the 30s there was no econometrics and the economists could offer no advice on fiscal or monetary policy. In the last crisis the economists could offer ideas, say things like that, when interest rates are at zero, you have to use fiscal policy to stimulate the economy. This doesn’t mean that they listened to us. In Europe, for example, they pretty much ignored us,” explains William Nordhaus, Nobel laureate for economics in 2018.

US volatility towards 2020

US Volatility Towards 2020

Pablo Pardo (Washington) | Although the world’s prime economic power has grown for 114 consecutive months,  Wall Street has spent the whole year in a saw teeth configuration. If stock market uncertainty was not enough, now fixed incomes have joined the chorus of anxiety. Since the summer, the yield curve has been flattening, in what appears to be the clearest sign of a recession in sight.

Madeleine Albright: "How much will Northern Europe pay to the South?"

“The Main Question Is: How Much Will Northern Europe Pay To The South?

When Madeleine Albright retired from the front line of politics in politics, she founded, first, an equity fund and then an equity management company and a consultant, ASG, which supports the internationalisation of US firms. But Albright has never really left the public sphere. Now she returns, at the age of 81, with a book: “Fascism: A Threat”.

The US is waiting for the impeachment

The US: Waiting For Impeachment

Pablo Pardo (Washington) | In global political and journalistic mythology, the word “impeachment” is loaded with meaning. In the city of Washington, where this curious political figure takes place, its importance is much less. In practice, the impeachment is no more than a vote of “no confidence” in the US President by the House of Representatives.

US Is About To Repeat The Errors Of The Past

Pablo Pardo (Washington) | In 2008 they hardly demanded anything of someone seeking a mortgage. They were the famous Ninja credits (‘No Income, No Job, No Assets’). Today, in the US, to sign a mortgage requires the buyer to out his signature at least 33 times, plus 6 or 7 more in which he must put his initials in boxes esecially designed for them. It is only one of the changes experiences in the world’s superpower since Lehman Brothers went backrupt a decade ago.

Former Fed's chairman Ben Bernanke recently declared that he declared that “in 2020 the coyote is going to leap off the precipice and is going to look down”

The “Coyote” Economy

On the few occasions the Fed’s former chairman Ben Bernanke speaks in public, which makes him feel physically sick- , he resorts to metaphors. It is what he did in May when he declared that “in 2020 the coyote is going to leap off the precipice and is going to look down”. Bernanke was referring to Wile E.Coyote, the coyote in the Roadrunner, a series of Warner cartoons which ran in the 50s and 60s.