What do the US and UK political developments as well as the stock market valuation have to do with the Peloponnesian War fought between Athens and Sparta (431-404 BCE)? In […]

In the course of the last couple of days the Fed has been injecting significant amounts of liquidity (to the tune of $75 billion per day) into the financial system. […]

The story of humankind has been a long tale of war, tyranny, misery, conflict, and illiberalism. To that extent the recent decades of relative peace and prosperity, along with the […]

Last Friday’s trade war escalation may not be substantial in terms of GDP impact but could indicate a turn in the ongoing trade disputes and may inflict significant damage in […]

T.S. Elliot pronounced that Virgil’s Aeneid was a universal classic since the poem reflects the foundation of how you create and preserve a world system. The Aeneid displays in a […]

The risks of an economic slowdown is compounded by trade war rhetoric, a Brexit without a deal, the reduction of short-term rates (Asian central banks lowered their rates in the […]

The Center for Financial Stability (CFS) recently hosted a roundtable discussion on European Central Bank (ECB) monetary policy with Philipp Hartmann. Philipp is Deputy Director General for research at the […]

Danny Rodrick might have been right after all when he argued in his 1997 book (titled Has Globalization Gone Too Far?) that we should be careful how far we are […]

In last week’s commentary, we discussed some perspectives of gathering clouds over the short-term horizon (6-10 months). We expressed the opinion that caution is warranted regarding new market highs given […]