Hyman Minsky, the clairvoyant black sheep

November 25, 2021 Off

Deceased in 1996, Hyman Minsky was an economist who was barely known at all during his lifetime. Only certain enlightened minds – unorthodox ones, of course – were interested in his research which focused on the causes of financial crises. He owed his hour of glory to the subprime implosion in 2007 and it’s as…

By Michel Santi

China trapped by capitalism

October 28, 2021 0

  China has thus far functioned by building 15 million homes a year, which is 5 times more than the US and Europe combined. After the collapse of the 300 billion dollar Evergrande, the biggest real estate company in China, the issue – albeit not a recent one – of the country’s ghost towns has…

By Michel Santi

Colonizing by Lending

October 14, 2021 0

  Colonisation is no longer what it once was. Actually, it just doesn’t use the same means anymore. Nowadays, to colonise, you lend, and that’s how you enslave. Over history, the debtor’s inability to pay has been used as an excuse to engage armies, like the British invasion of Egypt in 1882 because the country…

By Michel Santi

The Chinese Imperium against Honor of Kings

October 1, 2021 0

There are 100 million young Chinese people playing Honor of Kings every day, the most popular and profitable online video game in the world that rakes in 7 billion dollars a year for its developers. Basically under the thumb of the virtual world, Chinese civil society is beginning to cause great headaches for its leaders…

By Michel Santi

China at war with spiritual opium!

September 14, 2021 0

  China has declared war. Against its own technology companies. Since last February, the capitalisations of jewels such as Tencent, Alibaba, Kuaishou Technology and Meituan have lost billions of dollars. The stock index Hang Seng Tech that figures the biggest technology companies in the country has collapsed by 45%. The big business leaders have been…

By Michel Santi

The sacking of Haiti by France

September 1, 2021 0

  The Haitian Revolution was, without doubt, one of the most interesting and epic events of modern history. Taking place from 1791 to 1804, this moment was indeed fundamental for the country itself, but also had global repercussions that are still being reviewed today. First of all, the Haitian Revolution led to the creation of…

By Michel Santi

The Taliban’s money

August 23, 2021 0

  For 20 years, the Taliban’s immense fortune has ravaged Afghanistan and spread death and destruction there. They are complex, the Taliban’s finances, not at all monolithic but structurally edified on a vast criminal and mafioso network operated around the Haqqani network. Their revenue is made up of taxes levied on their subjects, the trafficking…

By Michel Santi

Why nations prosper

June 19, 2021 0

    Demographics are an indicator of the long-term destiny of a nation, and at the same time demonstrate the current mood of its citizens. Having abolished the only-child regime in 2016 to encourage families to have a second, China now even implicitly tolerates a third child across certain regions in need of population growth.…

By Michel Santi

Putin’s choice?

June 2, 2021 0

  It is reluctantly that the West is setting out measures to punish Lukashenko’s Belarus for his recent misdeeds. The current regime in Minsk, being in survival mode, obviously hadn’t foreseen such an international backlash, since it has been wholly preoccupied, obsessed even, with trying to neutralise its adversaries. It is also true that Lukashenko…

By Michel Santi

Inspirational America

May 10, 2021 0

  The success is total. The solidarity exemplary. The determination unfailing. And that’s not even counting the phenomenal success of the USA’s vaccination campaign: I myself got vaccinated in March well before my age bracket was called and just two days after I signed up for it. The US government has achieved another great feat…

By Michel Santi

China vs. USA: the lethal weapon

May 3, 2021 0

  The Chinese are convinced that the United States are a declining power, and they are basing – as a consequence – all their actions on this prediction. This is why China now feels that it is strong enough to take on a hitherto impregnable and unchallenged stronghold, that being America’s currency and the exorbitant…

By Michel Santi

Tribute to a moderate Saudi

February 28, 2021 0

  “The Stone Age did not end because the world ran out of stones, and the oil age will not end because we run out of oil”. This is an example of Sheikh Yamani’s clairvoyancy, who died a few days ago and who was the oil minister of Saudi Arabia from 1962 to 1986. Throughout…

By Michel Santi

The banks won’t be opening on Monday

February 18, 2021 0

Let us make no mistake: the massive economic imbalances and inequalities are not an anomaly but well and try integral to the system itself. Capital has of course always garnered more power than work, but this phenomenon is now reaching quite terrifying levels. It only needed a virus to destabilise – irreparably I think –…

By Michel Santi

Lebanon: before the chaos begins

February 3, 2021 0

  Many countries have decided to no longer use their own currency but to adopt the American dollar as the standard means of exchange. For certain poorly managed economies, and for all countries ravaged by corruption, dollarization is often that last resort to avoid bankruptcy. Economic actors and consumers are always the first to anticipate…

By Michel Santi

Biden: a lackey for Big Tech?

January 29, 2021 0

  Since Clinton’s second term, the US has done nothing serious to combat the hyperconcentration of companies’ and monopolies’ power. Let’s think back to the anti-trust battle brought by the US Department of Justice against Microsoft at the end of the 1990s. In fact, thereafter the George W. Bush, Obama, and Trump administrations all operated…

By Michel Santi

The corruption of our societies

January 6, 2021 0

  Nearly all our economies’ problems arise from the concentration of power. Our system of freedoms has gradually been trampled over by monopolies of all kinds and to different extents, that have increased the costs of health, medicine, food, agricultural products, and a whole range of commodities and materials. It’s the tens of millions of…

By Michel Santi

You are all Charles Ponzi!

October 27, 2020 0

  “Give Ponzi a million”, the Wall Street Journal declared in an article on 2nd August 1920, “and in a twelve month he will expand it for you to some $25,000,000; in two years to $657,000,000; in three years to $16,885,000,000. Surely the Allies could spare him a million, and within three years clean up…

By Michel Santi

Taking on debt, yes, but what for?

October 11, 2020 0

Following on from Keynes, it’s been years that I’ve been talking about it and outlining the mechanisms. At present, reality is catching up with the “mainstream” economists who with regret have recognised the absolute necessity for governments to deepen their debts in the current recession brought about by the health crisis. However, while the leaders…

By Michel Santi

Smile, you’re being watched

September 29, 2020 0

My readers know that I am an advocate of the phasing out of cash, for macroeconomic reasons outlined across several articles and books. To summarise, negative rates – that we will inevitably see – will only be effective if cash is eradicated, because a world without cash would also be a world without recession. I…

By Michel Santi

Japan: a sleeping beauty

September 1, 2020 0

  On the macroeconomic scale, Japan is a laboratory, but it’s also a cemetery where economists and theorists have had to bury their certainties. I salute the determination of Prime Minister Abe on his departure, having not shied away from any decision or measure in pulling his country out of the lethargy that it has…

By Michel Santi

There is life outside of work

August 28, 2020 0

  The time when Voltaire stated in Candide that “Work saves us from three great evils: boredom, vice and need” is over. Today, it is no longer appropriate to work regardless of the cost. In other words, less work could improve our living conditions and could undoubtedly improve the way we do work. The belief…

By Michel Santi

This might not be a crisis!

May 9, 2020 0

  The comparison between the Covid-19-stamped economic crisis and the 2007-2008 crisis is fascinating. Do you remember: at the time, the real economy was suffering the direct consequences of an overindebted banking system that made heavy use of leverage. Faced with this existential threat, the response was rather classic, in that it consisted of creating…

By Michel Santi

The Monetary Theory of Happiness

April 29, 2020 0

  A government that puts its monetary system to the service of its citizens and businesses views money as an instrument to improve their prosperity. In the absence of this belief, government action is ineffective or effective for just a minority. This degenerates into “poverty in the midst of plenty” to quote Keynes, who illustrated…

By Michel Santi

The death of money, as you once knew it

April 21, 2020 0

  I’ve been saying it for years: the use of cash is on its way out and the Coronavirus will be the final nail in its coffin. There’s no point in fighting against an inevitable phenomenon because the use of banknotes will more or less have disappeared from our intertwined economies – including China –…

By Michel Santi

Covid-China-19: we will not forget

April 15, 2020 1

  It is the efforts made towards China by what is called the global community that allowed the country, over a few decades, to successfully implement its reforms. The normalisation of relations between the US and China, inaugurated in 1979 by President Carter, was in fact the starting point of an open relationship of reformatory…

By Michel Santi