Germany’s Economic Doom Loop

John Maynard Keynes famously remarked that when the facts changed, he changed his mind. Q2 hedge fund letters, conference, scoops etc O12 / Pixabay One has to hope that the same will prove to be true of German economic policymakers in response to the changed global economic landscape. If German policymakers now [...]


Will Automation Decimate Rural Areas?

A McKinsey report released last week finds rural areas will be the most negatively affected by the next wave of automation, but right- and left-leaning experts on technology and labor economics disagree, calling the report “speculative.” Q2 hedge fund letters, conference, scoops etc jarmoluk / Pixabay According to McKinsey’s analysis, automation will [...]


Christine Lagarde’s Forthcoming Baptism By Fire

The timing of Christine Lagarde’s scheduled replacement of Mario Draghi as head of the European Central Bank (ECB) has to remind one of a prescient cover that The Economist magazine ran in 2006 when Ben Bernanke took over from Alan Greenspan as Federal Reserve Chairman. Q2 hedge fund letters, conference, [...]


Income Share Agreements Offer Solutions To Student Debt Crisis?

How many family members, friends or colleagues have you heard justly complain about the crippling student loan debt they are facing? The odds are significant considering one in every four Americans is struggling to pay off college tuition. Q1 hedge fund letters, conference, scoops etc 0TheFool / Pixabay As a professor, I [...]


Italy Could Be Greece On Steroids

Today, markets are displaying remarkable complacency toward a rapidly deteriorating Italian political and economic situation. They are doing so in a manner that is painfully reminiscent of how complacent they were in 2009 on the eve of the Greek sovereign debt crisis. Q1 hedge fund letters, conference, scoops etc Mariamichelle / [...]


Timeless Lessons From Old Money

A dark secret of economics is that there’s no general agreement on why money works. Why, for example, does practically everyone in the world exchange things of great and small value for greenish cotton-linen rectangles bearing the words “Federal Reserve Note … United States of America” on a dollar [...]


The Submerging Market Economies

Renewed currency weakness in Argentina and Turkey should be raising red flags about the risks that the emerging market economies could pose to the global economic recovery in the year ahead. Q1 hedge fund letters, conference, scoops etc Edu_Ruiz / Pixabay This would seem to be especially the case considering the disappointing [...]


Amazon Has No Business Building The Pentagon’s Cloud

Amid growing concerns that Amazon improperly influenced the bidding process for a Pentagon cloud computing contract, the Department of Defense recently announced that it has agreed to review the charges. These damning allegations must be investigated to the fullest extent, and if proven true, Amazon must be held accountable with more than a [...]


Modern Monetary Theory, A Bad Number

Some valuable advice was given to me when I began talking to policymakers almost 40 years ago: Elected officials have flytrap minds. Never put in a number that might turn out to be wrong, because you will never be able to pull that number out again — especially if [...]


A Currency Straitjacket For China

Proposing a currency straitjacket for a highly unbalanced economy is not a good idea. Yet that is precisely what the Trump administration is insisting on for China in its continuing trade negotiations with that country. This does not bode well for China’s long-term economic growth outlook. It also could [...]


Italy’s Threat To The Global Economy

Something is going very wrong with the Italian economy, the Eurozone’s third-largest economy and the world’s third-largest sovereign bond market. Q4 hedge fund letters, conference, scoops etc Hans / Pixabay After the briefest and weakest of economic recoveries, the Italian economy has again succumbed to an economic recession for the third time [...]


How Severe Will The Next Recession Be?

Calling the precise time of the next global economic recession is notoriously difficult. However, the same might not be true of calling how severe the next recession might be when it eventually occurs. Q4 hedge fund letters, conference, scoops etc geralt / Pixabay This would particularly seem to be the case in [...]


For 12 consecutive years USPS has lost money, accruing cumulative net losses of $69.0 billion And Losses are accelerating despite strong economy

Imagine if a one-week partial government shutdown led to plunging stock prices with calls to close the markets, panic among businesses that were not getting paid and a presidential declaration of a national emergency, including mobilizing the National Guard. This happened during a U.S. Postal Service strike in 1970. Q3 [...]


Economic Policymakers Ignore Risks At Their Peril

In 2008, on the eve of the Great Economic Recession, world economic policymakers were overly complacent about the global economic outlook. That left them totally unprepared for the economic and financial market crisis that subsequently occurred. Q3 hedge fund letters, conference, scoops etc geralt / Pixabay Today, 10 years on, one has [...]


America’s Wealth Dynasties Are Getting Even Bigger

Most people work hard to provide for their family hoping to generate enough money to afford the basics. Their only chance at vast fortune is a lottery ticket. Q3 hedge fund letters, conference, scoops etc ColdSmiling / Pixabay For other families, they need only wait patiently for their fortunes to come — [...]


Saudi-Funded SoftBank Throwing Money At U.S. Fintech Firms

The Securities and Exchange Commission (SEC) just released an investigative report warning public financial companies against cyber fraud, but for budding financial technology (fintech) companies there is a more pressing problem. Q3 hedge fund letters, conference, scoops etc Many prominent fintech firms like Kabbage, Lemonade and Social Finance (SoFi) are funded by SoftBank, which [...]

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