“Collapse, Avoid a Relapse, Don’t Relax”: Prospects, Downside Risks, Central Banks, and Existential Threats
The words quoted in the title above, were pronounced by Christine Lagarde (the head of the IMF) at the Davos annual economic conference. She was referring to the EU experience in 2012. Without a doubt, the Euro zone almost collapsed last year, and her recommendation...The Prospects for Real Estate: Part II of Assessing the Prospects for 2013
In this week’s commentary we offer our assessment of a positive outlook for the real estate sector in 2013. We believe that real estate will outperform most – if not all – of fixed income investments in this environment of financial repression. We anticipate all real...Uber Alles, the Intersection of Basle and Chicago: A Conversation with Moses, Solon, William Gladstone and William Jennings Bryan
I boarded the non-stop flight from Basle, Switzerland to Chicago. It was destined to be an exciting flight due to the persons sitting around me and the topics of their discussions. Given that life is short, let’s start with dessert (conclusion) first. As Chairman...Majoring in the Minors: Economic Realities and Phantom Diversions
In this commentary, we will discuss examples of how misguided policies and debates focus the public’s attention to minor issues, with the result being that the causes are not addressed, and hence the economic pain to be excruciating as years goes by. We will start...Sign Up for Our Publications
