A Walk Down the Elysian Fields: Cicero Meets Maimonides to Discuss Imbalances and Negative Equilibrium
This past Monday we posted an article by Chairman Paul Volcker on the need for radical financial reform (see http://stage.blacksummitfg.com/2978). Chairman Volcker wrote “it is too clear that the federal financial regulatory structure is simply inadequate to head...Meaningful Financial Reform
A few days ago The Volcker Alliance published its long-awaited report on Financial Reform. It is a historic report that needs to be read by all those who care about the stability of the global financial system. It is an honor to host Chairman Paul Volcker’s thoughts...Negative Equilibrium: The Sustainability of the Unsustainable
In its recent World Economic Outlook, the IMF questioned the sustainability of the current growth trajectory around the globe. This should not have been a surprise given the levels of unsustainable debts and liabilities around the world, as well as the fact that the...White Knights in a Festival of Fools: The Tale of a Dangerous Encounter
Around the globe fundamentals are being ignored. Unsustainable debt keeps rising, the equity markets of dysfunctional economic unions seem to “thrive”, unprecedented monetary measures are implemented and a Leviathan state is emerging where “white knights,” in the form...Lorca on Headwinds and Tail Risks: It’s Five O’clock at the Crossroads of Liquidity and Volatility
Could the markets suddenly unravel? Of course they could. The fiat monetary system is like a mirage, it can tumble because of underestimated circumstances. Imagine for example Greece abruptly leaving the Eurozone, defaulting on its EFSF loans of €240 billion, its...Sign Up for Our Publications
