The growing interconnectedness of economies, societies, and cultures has spurred a boom in trade, investment, and innovation, resulting in unmatched growth and development. We often hear that everyone is getting richer, but who has actually reaped the economic benefits of globalization?
Wine is one of the world's oldest luxury products; a product that has been in continual demand. Because of its allure, it has been a target for fraudsters of all kinds. Some sources suggest that between 10-20 percent of all wine has been tampered with.
Being an economic policymaker is in many ways like sailing a boat. That is, the government is able to tack or trim with greater or lesser skill, but ultimately it cannot change the direction of the wind.
The sale of indulgences generated so much money in the 15th and 16th centuries that it alone financed the opulent Sistine Chapel and St. Peter's Basilica in Rome. However, the path to riches has been bumpy, and the church has repeatedly been on the verge of bankruptcy.
The stimulating effects of quantitative easing and sustained low interest rates created two shaky pillars under the economy, synthetically pumping securities and distorting the risk associated. Effectively creating the everything bubble, where prices are driven by easy money instead of fundamentals.