Asset prices are falling, but wealth accumulation is still not getting any easier. The fall in prices remains just a drop in the ocean for young families and less wealthy households.

It is not only since this year that prices have been rising rapidly. Over the past 13 years, we have already experienced an era of rising prices in Germany, which is now likely to come to an end. We are not talking about consumer prices, but about as ...

Fiscal policy is becoming more expansionary to mitigate the effects of inflation. Monetary policy would now have to become very restrictive to counterbalance the expansion. Yet this threatens to trigger new financial crises.

With considerable delay, the European Central Bank has begun to fight rampant inflation with interest rate hikes. The public debate now revolves around the impact of higher interest rates on savers and businesses. But that is not all.

The ECB's so-called "Transmission Protection Instrument" bears a certain resemblance to the defeat device for exhaust gas purification in internal combustion engines. The defeat device functioned perfectly until it was discovered. This is questionabl ...

With first signs of a wage-price spiral emerging it seems that we are only at the beginning of an ongoing inflationary phase.