Mustard Seed Developments: Could Epictetus’s Discourses Teach us Anything About Rising Uncertainty?
More than twenty years ago I read a book by Tom Sine titled “Mustard Seed versus McWorld”. I had met the author a couple of years earlier when we both served on a panel together, but what made me get that book was its intriguing title and the foreword by Ravi...A Preliminary Assessment of Q4
We are of the opinion that the output gap in the US by the end of the year will range between 2.5-3.5%. However, for the European Union (EU), we expect the output gap to be higher than that. Such an assessment implies elevated unemployment rates for both the U3 and...Market Melt-up and the Fed’s Magic Flute in the Courtyard of Aristophanes
The most recent Fed’s decision to turn policy on its head and pursue higher inflation targets for the sake of stimulating the economy, reminds us of a grand strategy without tactics, which simply is no strategy. The reason for this is the fact that the Fed has no...Reviewing Economic Developments: Getting Away from Colchis with the Golden Fleece
During the month of July, economic momentum lost ground, as portrayed by the Consumer Sentiment Index shown below. Data related to employment, spending, and mobility also reflected the slow down. Caution is also expressed regarding the next 2-3 months as the flu...Sign Up for Our Publications
