
Weaponizing The Dollar: The Nuclear Option
In Part I of this report, we reviewed the U.S. current account problem and examined how the persistent deficit affects the economy. We also discussed how the U.S. current... Read More
In Part I of this report, we reviewed the U.S. current account problem and examined how the persistent deficit affects the economy. We also discussed how the U.S. current... Read More
In mid-August 2016, I published a two-part series titled “Thinking about Thinking” (see Part I and II). Occasionally, I will be asked which WGR is my favorite or most... Read More
Over the past year, U.S. relations with Iran have deteriorated. In May 2018, President Trump announced he would withdraw from the Joint Comprehensive Plan of Action (JCPOA), a multinational... Read More
(NB: To improve readability, we are now linking references to media reports and articles directly in the text via hyperlinks. Footnoting will be reserved for documents to which we... Read More
In Part III, we examined the role of economic paradigms in the equality/efficiency cycle. This week, we conclude this four-part series with a discussion on the flaws of Modern... Read More
In Part I of this four-part series, we introduced this report and discussed the origin narratives of Modern Monetary Theory (MMT). This week, we will examine the principles and... Read More
In recent weeks, Modern Monetary Theory (MMT) has become a hot topic of discussion. Given the level of controversy, we want to provide our take on the theory. One... Read More
In Part I of this report, we laid out the two narratives that the U.S. and China are using to frame relations between the two countries. This week, we... Read More
Graham Allison published a controversial book in 2017 in which he argued that the probability for a major war increases when an established hegemon faces an emerging power that... Read More
(N.B. Due to Martin Luther King Jr. Day, the next issue of this report will be published on January 28.) In Part I of this report, we discussed the issues... Read More
(N.B. This will be the last WGR of 2018. Our next report will be published January 7, 2019.) As is our custom, we close out the current year with our... Read More
Last week, we introduced the characteristics of a reserve currency, including a discussion of the costs and benefits of providing the reserve currency. This week, we will conclude the... Read More
In May, the Trump administration exited the Joint Comprehensive Plan of Action (JCPOA), otherwise known as the Iran nuclear deal.1 In conjunction with its exit, the U.S. implemented new... Read More
Last week, we discussed Venezuela’s economic and political situations. Part II begins with a discussion on migration with a focus on emigrant flows. We include an analysis of the... Read More
Venezuela has gone from “bad to worse” in recent years. In 1999, Hugo Chavez was elected president and took the country on a journey into Cuba-style socialism. Persistent government... Read More
(N.B. Due to the Labor Day holiday, the next report will be published on September 10.) Know more about Russia than your friends: Get our free ebook on how the Soviet... Read More
Over the past few months, Turkey has become a major topic of interest. Recep Erdogan won re-election to the presidency in June 2018. This event was important because a... Read More
On July 1, Andres Manuel Lopez Obrador, or AMLO for short, became Mexico’s first leftist president in over three decades,1 running on anti-establishment and anti-corruption platforms. The 64-year-old activist... Read More
This week, we will conclude our study on China’s foreign reserves. In Part I, we discussed the evolution of foreign reserves from gold to the dollar, with a historical... Read More
In our travels we are almost always asked about the government debt and deficits. If there is any area of confusion and misunderstanding, public finance could easily top the... Read More
We often get questions about China’s foreign reserves. The fear is that China’s massive “pile” of foreign exchange reserves is a risk factor for U.S. markets. In the first... Read More
(Due to the Memorial Day holiday, our next report will be published on June 4.) On Saturday, May 11, the New York Times ran an article on the threat of... Read More