It’s a heretical notion, but I’m compelled to repeat it at regular intervals: It’s the furthest thing from obvious that Paul Volcker’s rate hikes were
Category: months best
Burning City On A Hill
I’ve come to despise politics, which is unfortunate because I was raised around political scientists, most of whom I liked. One of my degrees is
Jeffrey Sachs And The Nord Stream: A Counter-Narrative Case Study
I’ve long described my raison d’être in terms of the intersection between geopolitics and finance. From the outset (so, from this platform’s modest beginnings almost
What If ‘Normal’ Isn’t What We Think It Is?
The past two years prompted quite a bit of soul-searching for humanity, and particularly for citizens fortunate enough to reside in advanced economies, which we
300 Million Hamsters
Has the Fed regained its credibility as a check on inflation? That’s the question. Answers run the gamut. At one extreme are incredulous lamentations for
Pozsar: Powell Would Risk US Depression To Slay Inflation
Zoltan Pozsar has a subtle suggestion for those attempting to forecast inflation: Consider the possibility that the shocks emanating from an epochal macro realignment precipitated
Wages, Prices And A System In Crisis
Alarmist “wage-price spiral” rhetoric is a fixture of the economic news cycle in 2022. Scarcely a day goes by without someone warning that the US
The Sad, Sad Story Of $3 Trillion In Pandemic Savings
You’ve heard it again and again: Major developed economies, including and especially the world’s largest, can avoid recession in part because consumers built up savings
Is Decentralized Finance Imploding?
“You can’t issue unlicensed securities and use your friends as the underwriters,” I told someone who’s much smarter than me a few months back. We
Ethereum Fever Dream Crippled Our Economy. It’s Time We Wake Up
On August 11, 2021, a USA Today article featured the headline, “Millennials are quitting jobs to become crypto day traders.” The image at the top
We Built A ‘Doomsday Momentum Machine.’ Now It’s Blowing Up
During the vicious, tech-led selloff that wiped away a fleeting, post-FOMC bounce in US equities, Cathie Wood’s star-crossed flagship fund suffered its worst one-day decline
With Twitter Deal, Musk Vies For Surveillance Capitalist Crown
Surveillance capitalism operates through unprecedented asymmetries in knowledge and the power that accrues to knowledge. Surveillance capitalists know everything about us, whereas their operations are designed
Russia, The Dollar And The Real Realpolitik
Janet Yellen may force Russia and, in some cases, the country’s corporate sector, into default. Over the years, I’ve endeavored, with varying degrees of success,
Three Months In Web3: What I Learned
“There’s something apocalyptic about it,” someone told me this week. We weren’t talking about the war. Or the pandemic. Rather, we were sharing an incredulous
The Petroyuan And ApeCoin: Fables Of The Dollar Deconstruction
A few days ago, market participants were treated to a new version of an old story. “Saudi Arabia is in active talks with Beijing to
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