2017

Having written the last piece on the intersection of Austrian economics and Post-Keynesian economics, I was asking myself the question: so what? Yes, the punch line of the piece was that both of these schools of thought lead to a world view…

World views derived both from Austrian Economics and Post-Keynesian Economics suggest that so-called secular stagnation and the resulting political radicalization in Europe and the United States are here to stay. Here's why.

From an economic perspective, the coming slowdown in production will dent GDP growth.

Right now, everyone is parsing what the 'disastrous' May-Juncker dinner means for UK-EU negotiations and for the British general election. My immediate thought, however, was about Britain as a tax haven. Let me outline why.

At the weekend, French Presidential election frontrunner Emmanuel Macron told the BBC that EU leaders “have to face the situation, to listen to our people, and to listen to the fact that they are extremely angry today, impatient and the…

With demand for long-dated safe assets high, the yield curve will remain under flattening pressure. And that, combined with higher short-term rates will be negative for bank net interest margins and earnings.

What happened in 2010 with Greece, Spain, Portugal and Ireland will happen again. But this time, Italy will be the first domino to fall. And when it does fall, Italian sovereign and bank credit risk will skyrocket. Caveat Emptor.

This morning, the Trump Administration called the leaders of Canada and Mexico to tell them that he "agreed not to terminate NAFTA at this time," showing, yet again, that Donald Trump is much less audacious a President than some expected.…

Given recent hawkish Fed statements and the potential for even more than three hikes, all of this is bullish for longer-duration Treasuries but much less so for auto ABS, high yield and emerging markets.

Donald Trump is a very media-centric public figure. And because the chatter in DC now is of Trump as a legislative failure during his first hundred days in office, Trump needs a win - and Canada is an easy target. Here’s why.