International Monetary Fund. Managing Expectations: Inflation and Monetary Policy.

Inflation around the world reached multidecade highs in 2022. While headline inflation has since come down, core measures are proving stickier. The high inflation experience of the last two years could engender persistently high inflation expectations, complicating central banks’ paths to getting inflation back to …

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Luis Maizel’s Monthly Letter: Stop the World – I Want to Get Off!

The title of the letter is from a Broadway play many years ago. Many people today feel that everything is terrible, with wars dragging on indefinitely, inept and corrupt governments in most parts of the world, non-existent leadership, and a global economic situation complicated by …

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My oil to Cuba

Ricardo Pascoe Pierce On September 26 this year, Bloomberg reported that Mexico is sending free oil to Cuba. It noted that 350,000 barrels of crude oil were sent in June, while in July, twice as much was sent: 700,000 barrels. Mexico gave Cuba oil with …

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North-South, East-West.

Ricardo Pascoe Pierce The United Nations General Assembly (UNGA) meeting was held last week in an atmosphere of global realignments. The leaders’ speeches (3 women among men) from multiple countries expressed opinions on common issues: the war in Ukraine, the global financial system, poverty, the …

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Bargains

Luis Rubio In memory of Luis Alberto Vargas Governments come, and governments go, but one thing always stays: corruption. The actors change, but the phenomenon is perennial. And Mexico is not the exception to this: in his 1976 book on Russia, Hedrick Smith* writes, “I …

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Pinochet, our contemporary?

Ricardo Pascoe Pierce Fifty years ago tomorrow, General Pinochet and almost the entire Chilean military broke their constitutional oath and staged a coup d’état against the legally elected government of Salvador Allende. The few military commanders who opposed the coup were eliminated. Thus, Chile aligned …

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