I have tried my best to send you off today on a positive note. You do not need one more gloomy piece as you go home today. I think I found something for you. Continue reading
Daily Archives: September 6, 2011
WOW. I always wondered how a pissed off Swiss banker would behave. Now I know. Continue reading
Both politicians and bankers like to tell stories. Sometimes they use the stories for votes or to get you to buy some products. The stories have classic formula. They are about good and evil, about rescues and mostly with happy endings. To be honest this is a real talent for both groups. Continue reading
After 2008 Romanian authorities used the excuse that the crisis was hard to predict and that is why they acted the way they did. Today, we start hearing the same story, i.e. it is impossible to know what will happen. True, with absolute certainty it is impossible to know what will follow in the global economy. But some idea we do have at least for the short term. Romanian policy makers hide behind this excuse. But why? Either they do not know what to do or do not want to do anything. Putting in place the right policies today to prepare for the global slowdown/recession is less expansive than cleaning up after the storm.
Yesterday I was pointing out to a deterioration in recent data regarding the Romanian economy. Few more data were released yesterday after my post. One was salary evolution and the other retail consumption. Continue reading