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...Smoking Mirrors and Angelic Demons: Assessing the Prospects of 2013, Part I
The renewal of the swap lines among the major central banks was a footnote for the financial markets and for the financial publications in the last couple of days. However, and as we have pointed out in the past, it is one of the most crucial lines that has sustained...Could we Start Experiencing a Normalization of Dislocation? An Assessment of Risks
In the last few days, some reports have been circulated – by prominent Wall Street banks –which tell us that things will return to normal in 2013. With all due respect we disagree with such an assessment for the following four fundamental reasons: First, the...Sign Up for Our Publications
