Financial Stress, Chinese Credit Squeeze, and Emerging Markets: Lessons from the Cosmological Constant
The Fed’s hint that they may taper the purchases of financial assets ignited a fear in the markets last week. We have long been advocates of sound money while questioning the viability of a financial system that is based purely on fiat currency. Until the markets...Production of Illusions by Means of Illusions: Aristotle Confronts Volatility
We are coming to a juncture in the markets where we need to decide if the means of illusions used can produce any real lasting effects. The truth of the matter is that in a world fascinated with superficial results, few are those those who argue for fundamental...Hegel Meets Kierkegaard on Wall Street: The Unintended Consequences of Placebo Treatments
This year marks the 100th anniversary of Kierkegaard’s birth. The father of existentialism had a clear target, to show that Hegel’s attempt to systematize all reality was an exercise in futility. According to Kierkegaard, Hegel left out the most important element of...Speculating into the Void: The Demarcation of Absorption Capacity
It has been a week now since the Japanese markets have been exhibiting significant volatility. What we have been observing is that both equities and bonds show signs of turmoil. This may continue, however we anticipate that the Japanese stock market will end up the...Sign Up for Our Publications
