The Markets at a Junction: The Dollar, Seneca, the Flows of Capital, and Japan, Part II
When a market (or any institution) lacks an anchor, a myriad of negative repercussions unfold, starting with the lack of tranquility. The absence of the latter creates uncertainty, and the effect of the uncertainty is turmoil. In the following graph, we see the impact...The Markets at the Junction of the Platonic Wheel and Jeffersonian Democracy: Trade, Cycles, and the 200-Day Moving Average, Part I
Wealth creation is the trust outcome of production and exchange. Wealth affects production, sale, and exchange of goods and services, and of course, can advance growth due to higher incomes, spending, and investments. The equity market (as a source of wealth) was due...The Dollar and Contemporary Market Reflections: An Attempt to Understand Developments Using the Lenses of Henry IV
The main message of this commentary is that the strength of the dollar holds the keys to the future. In 1985, a coordinated intervention to bring down the value of the dollar was sealed in what I consider to be the infamous Plaza Accord. Chairman Paul Volcker once...Market Icons and Uncertainty in a Changing World Order: Warm Greetings from Byzantium
The Byzantine Emperor Leo III (who inaugurated the Isaurian dynasty of emperors in the Byzantine Empire) was a true reformer. Around 725 AD, he sensed that the empire was endangered from within by lawlessness (the infamous twenty prior years of anarchy), corruption,...Sign Up for Our Publications
