Most recent columns

Harry Geels: Europe is saving itself into poverty

Tue, 12 May 2026 15:18:22 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels,

There is now more than €14 trillion in savings held at European banks. In doing so, households are eroding their purchasing power, boosting banks’ profit margins and limiting the investment capacity needed for Europe to catch up with the US. The culture of saving has become too institutionalised in Europe.

Harry Geels: Four monetary mechanisms that exacerbate inequality

Tue, 05 May 2026 15:22:36 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

In our society, there are various structures that perpetuate inequality. The monetary system is one of them. It favours the ‘haves’ over the ‘have-nots’ through inflationary policies, support for financial markets, and financial repression. Monetary policy also supports banks, including through monetary bailouts.

Harry Geels: A K-shaped economy is less susceptible to inflation

Tue, 28 Apr 2026 15:21:34 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

Why is it that the relatively high inflation of recent years seems to have had little impact on economic growth, particularly in the US? Part of the explanation may well lie in the K-shaped economy. According to recent analyses, the top 10% of earners account for around half of all spending in this economy.

Harry Geels: Three nuances regarding geopolitical insider trading

Wed, 22 Apr 2026 09:29:31 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

It is alleged that, over the past few weeks, $2.2 billion has been speculated on through three ‘perfectly timed’ oil trades by the ‘corrupt clan’ surrounding President Donald Trump. This kind of insider trading is reprehensible and a criminal offence. However, three points must be noted regarding such geopolitical insider trading.

Harry Geels: Market power of the ultra-wealthy is part of the stability issue

Wed, 08 Apr 2026 08:35:21 +0200

By Harry Geels

The Wall Street Journal (WSJ) recently published an article about a growing group of wealthy individuals in the US who are responsible for the lion’s share of economic growth. Four interesting conclusions can be drawn from this.