18 October 2023
Avoiding The Mistakes Of The 1970s
A fundamental question for investors is, will central banks fail to exorcise the pandemic’s lingering inflationary shock, just as they failed to exorcise the inflationary shock that came from the...
24 May 2023
The Debt Ceiling Game Is Parent-Child With A Bad Nash Equilibrium
In game theoretical terms, the debt ceiling standoff is the Parent-Child game. The ‘Child’ is the Democrats who can cut spending a lot (be very good), cut spending a little (be quite good), or not...
01 March 2023
China’s $100 Trillion Housing Bubble Reaches Its Limit
The Chinese government will ensure that its housing market adjustment does not come from a collapse in home prices, but from a reduction in housing development and construction activity. Yet too...
