Tough love

Steen Jakobsen's interview to Observador is not that new - at least for the people that actually think about the Portuguese economic system. But it is still a punch in the stomach - and a very strong one, for the ones that really think about the Portuguese economy and development. To see it written like that, in all its nudity, is to understand that one is not alone - but to also know that is actually not good at all. 

Though chance, cowboy. It is what it is.

Reverence

In a world growing old (as in Europe and North America), youth is increasingly cherished. 

Not too long ago, old age would be reverenced, the living proof of experience, lessons learnt hard and ready to be transmitted to younger ones. But at that time, old age would be rare. Not many would live past 50 years old in the XIX century, and even Hemingway's "Viejo" in "For Whom the Bell tolls" would probably not past 60. Today, 60 means a perfectly active person, and soon 70 would mean the same. Older persons experience, couped with an active intellect, would mean they would connect past and present, enriching a young and energetic world with wisdom and good sense.

But now, the world is growing older. And we all cherish the energy and freshness of youth.

This is not going in the right direction

If you want a "how to fuel a market bubble", please, have a look at China's actions on the stock market for the past few months...

As so, the second biggest economy in the world is getting a bigger and more threatening bubble waiting to burst - which should be a major cause of concern for everyone, me and you included.