COVID-19 Driving Stock Market Higher Than 1 Year Ago?

COVID-19 became a serious concern for wider public in the USA somewhere between February and March of 2020. Today on May 16, stock markets in the USA are optimistically higher than a year ago while most of the country is still under strict lockdown...

The Real Divide: Those Who Are Not Allowed to Work

With the employment rate in the US jumping to alarming 14.7% from less than 4% in just one quarter, the COVID-19 crisis has created a gap between those who are allowed to work, and those who are not. When people talk about inequality, they typically...

Free Healthcare Is Free Markets

Healthy people lead to more competition, not less. Free basic healthcare leads to more capitalism which some supporters of free markets seem to misunderstand. Entrepreneurs innovate in the economy because of their willingness to work hard AND because...

What I No Longer Believe

I used to believe that optimizing for efficiency should be the main goal of modern economies. Efficiency limits corruption while driving innovation and therefore improves people’s lives. However, the unintended consequence is that resiliency is often...

On government-run capitalism

Ever since the financial crisis, it has become clear that the value of companies is linked with the willingness of governments to bail them out. The top financial gainers from the 2008 bailout program (TARP) were Citi, BoA, AIG, JPM, Wells, GMAC, GM…...

Lessons from the 2008 Financial Crisis (t+10 edition)

Contents: Too Big To Fail, Low Interest Rates & Mortgages, Accountability and Ethics This month has marked the 10th anniversary of the global financial crisis of 2008 and media raced to discuss the lessons (not) learned. In reality, the only lesson...

Limited Competition in Sports

Freakonomics podcast titled The Longest Long Shot made me think about the benefits of competition. The core of the podcast discussed the unbelievable title run by the Leicester City Football Club in the English Premier League in 2016. According to...

Inflation Is Back

Most economic variables of western economies are reaching record highs in at least a decade. However, rising inflation makes information blurry or even meaningless. At least since the 2008 financial crisis, the top line performance of economies and...

50 Percent of 2017 ICOs Have Failed Already

In my previous article about ICOs I suggested that most ICOs would go nowhere. Fortune has since reported that a half of 2017 ICOs are dead already. It comes as no surprise given that many projects were attempted money grabs with white papers written...

Why most ICOs are going to 0, and it’s not a big deal

as long as people understand what they are buying. Raising money using cryptocurrency issuance has become the new gold rush. Tezos has raised $200M+ and Bancor $100M+. There are hundreds of other completed raises and even more on the horizon. The most...