Beautiful Losers Meet Useful Idiots: A Prolegomenon to an Unexpected Price Wave
I did not expect the last commentary to start becoming a reality so soon. In that last commentary I explained that the emerging markets look like prime territory for a crisis. In the last few days we have witnessed significant emerging market turmoil. It started with...On Malaise, Credit Flows, and Historical Roots: The Watershed Period and the Echoes of Tijuana Moods
As noted from these commentary pages before, I believe that we have entered into a watershed period that will determine if in about two-three years the global economic system collapses, or experiences a rebirth. We live in historical times, and for such a time as this...Balance Sheet Recession Reconsidered: Rebalancing Acts at a Time of Crisis
Richard Koo has been known as the father of the “balance sheet recession” theory. The essence of his theory states that monetary policy becomes ineffective when interest rates drop to almost zero, and thus government spending (fiscal policy) can only rebalance the...Assessing the Prospects for 2014, Part III: Market Trends and Rogue Waves
In this third and final commentary regarding market trends and prospects in 2014, I would like us to concentrate on what we assess to be key-elements for equity markets as the New Year unfolds. But first, a word on bonds: Like last year, we anticipate that the...E Pluribus Unum: A Conversation about the Past and the Future with Joseph, William III of England, Edmund Burk, Thomas Paine, and William McChesney Martin
I boarded the flight from Chicago to London. From the plane’s speakers I could clearly hear Tom Petty’s voice singing his song about “dancing in the zombie zoo”. “How appropriate”, I thought. “It seems that we have a zombie economy which dances around equities’ gains,...Sign Up for Our Publications
