The unlikely war

The dictator of North Korea does not want war but to maintain his regime undisturbed. He believes that nuclear weaponry is a key to it…

Is Europe hopeless?

Greece and Italy could still go bankrupt and leave the eurozone. The majority of the members of EU cannot produce stable growth; currently there are…

IS THIS THE PEAK?

Bitcoin has been going through extraordinary exchange rate fluctuations: a day after it crossed the ambitious 10000-dollar line, it reached 11000 dollars and then, it…

No innovation, no growth

The author of the bestseller Rise and Fall of American Growth, which studies the past two hundred years of the American economy, says that the…

On Past Returns

In the past 50 years, the American share market generated a remarkable annual return* of 9.8%. It is a common belief that the same 50-year…

The death of passive investments

In the next 10-15 years, I believe, that the passive, static investments (e.g. the classic 60-40 share-bond portfolio) will only achieve negative real return. It…

The succes of the Hungarian model

Viktor Orbán says that EU funds are not the reasons why the Hungarian economy is growing, and the Hungarian model is an absolute success. Economists…

FED: MISSION IMPOSSIBLE

The intention of the United States’ central bank to raise the interest rate was unexpected and became a determinative capital market event in the last…