A Failure Of Epic Proportions
Most Western democracies fumbled in their response to the coronavirus outbreak despite having two months to prepare. A number of Asian countries have shown that it was possible to nip […]
The Mother Of All Cash Flow Retreats
With corporate debt levels higher than before the financial crisis and the quality of much of this pretty low, the last we need is a sudden retreat in cash flow. […]
Unanswered Coronavirus Questions, Now Is Not The Time For Heroics
The good news is that the situation in China is improving albeit at exorbitant economic cost, and the virus spreads mostly through family. However, experiences from South Korea show that […]
When Hard Money Men Turn Soft
On the right, economic orthodoxy (sound money, sound public finances and free trade) which was defended vigorously a decade ago when it was less helpful are shredded with amazing ease. […]
When A Country Doesn’t Trust Its Own Money
Argentina’s biggest economic problem is the lack of credibility of its currency. At the first sign of trouble, it tends to plunge. A peso plunge is liable to set all […]
Peak Economy, Peak Earnings
The tax cuts produced a boom in economic growth, but the effects look set to peter out. The tax cuts also unleashed some headwinds that could gather force, like rising […]
Unemployment And The Markets
Unemployment is at multi-decades lows and this has already got the Fed into a preemptive tightening cycle, and getting this right matters a great deal for investor returns. However, the […]
Patients Versus Shareholders
There is a critical distinction between market friendly and business friendly deregulation but this is almost never made, with sometimes terrible consequences. Perhaps the best example of the latter is […]
The Feel-Good Economy
While the economy is booming, it’s hard to detect a real break in the post-financial crisis recovery in hard data covering growth, job creation, and wages. The high growth in […]
All That New Technology, Why Doesn’t It Boost Productivity Growth?
It seems that we’re once again in a Solow Paradox world where we see incredible new tech all around us, apart from the productivity statistics. We look at three different […]