Panama: ‘If You Build It, They Will Come’

These were the famous words whispered by the ghost of Shoeless Joe Jackson in The Field of Dreams. Ray Kinsella, played by Kevin Costner, literally bets the family farm to build a baseball diamond in the middle of a corn field in rural Iowa, bringing his family to the brink of ruin. Fortunately, in true Hollywood […]

Argentina: The Rise of NeoCorporatism

Like piggies at the trough, Argentine businessmen are falling in love with the nationalization of YPF. At first, the private sector recoiled at the idea. It symbolized the growing isolationism of the nation, the abrogation of private property rights and the heavy-handed nature of the Fernandez de Kirchner Administration. However, the move is taking a […]

On to the Summit

The air hung thick this weekend in the fortress city of Cartagena, as regional leaders met to discuss political and economic issues at the Summit of the Americas. Thirty-three of the thirty-five leaders were present, even ailing President Hugo Chavez was in attendance. The sole exceptions were Cuba’s President Raul Castro and Ecuador’s President Rafael […]

Portugal: Oro on the Douro

The sun glistens off the Douro River in early spring, creating a golden splendor on the ancient banks of Oporto. Like the dark meandering streets of the medieval city, Portugal is a mystery to most investors. Unlike its Iberian cousin, Portugal is thin on glitz and glamour. You never see the fleets of luxury vehicles […]

The Swirling Vortex of Terror

With less than a month to go until Athens faces an amortization of €14.4 billion, the Greek government finally set the date for its “voluntary” debt swap. Bond holders will have three days, between March 8 and March 11, to tender their bonds. Although the prospectus and term sheet are yet to be released, creditors […]

Oil and Water

Like a science fiction novel, one could imagine a world where the valuation for oil and water was reversed. Such a scenario would change the face of the planet. Oil defined global politics and economics for the last hundred years. Humanity struggled during two World Wars, along with countless other conflicts, to control it. Abundant […]

The Road to Redemption

The global outlook is dire as we enter 2012. At best, Europe is on the brink of a severe recession. At worst, it could be on the verge of financial meltdown. Asia is slowing down, encumbered by the fiscal and monetary excesses of the past four years. Singapore, the canary in the coal mine, is […]

Looking at 2012

The turmoil in Europe and the implications for the rest of the global economy makes it look like the Mayans were correct in their dismal predictions for 2012. The growing probability of a dismemberment of the common European currency could lead to massive deleveraging, capital controls and protectionism. On one hand, globalization created an economic […]

EFSF Miracles: Mark 6:30-44

The belief in miracles is primordial to humans. Although people tend to be rational and solve problems logically, there is always a willingness to suspend reality. Faith in miracles occurs during the darkest moments, when there is a need for divine intervention. The hope that the European Financial Stability Fund (EFSF) will resolve all of […]

Slick Hope

Hope is a slick product peddled by weight loss companies, college prep services and defense lawyers. It is the illusion of achieving the impossible—for a (small) fee. It is now the artifact of policymakers. As Europe goes down in flames, there is a vacuum of leadership on the global stage. In contrast to previous global […]

1 2 3 12