2019

By Marshall Auerback This post was originally published on AlterNet The breakdown in the Sino-U.S. trade talks has led a number of commentators to suggest that America’s “unipolar moment” of post-Cold War preeminence is over, as…

A number of recent articles suggest that Chinese officials may reduce their purchases of U.S. government bonds. It is very unlikely that China can do so in any meaningful way because doing so would almost certainly be costly for Beijing.…

It's the politics, stupid? Credit Writedowns is back. And right now, it's the politics that are on my mind more than the markets or the economics. I have had a long while to sit and think about what's been happening and where we're going.…

Quick note here Neutral Fiscal Policy I mentioned 'augmented fiscal stabilizers' and a neutral fiscal policy in the last message. And subsequently, I thought I should link out to a piece I published on these topics two years ago. Read that…

Treasuries as a political weapon If you don't have the right model of the economy and markets in your head, you can lose lots of money. Case in point is 'The Widowmaker Trade' in Japan where speculators misunderstood the limits of monetary…

Like yesterday, I have a few thoughts on the economic headlines below. This one is behind the paywall though and I am going to focus mostly on two topics. Yield curve inversion At its worst yesterday, the risk-off play saw the 10-year…

I have some thoughts on economic headlines below. This one is outside the paywall. If you like what you read, please subscribe. Uber as a signpost I am just catching up to where I left off at the end of last week regarding the risk-off…

Trade and Currency Wars I am starting this article just ahead of the equity market open in New York. And S&P futures have the market opening down 1%. The market continues to be unsettled by the political uncertainty around the US-China…

A quick note here with a few thoughts on technology IPO companies with economic moats I use Slack every day at work. It is an essential internal communications tool for my job. And, as such, I see it as a company with relatively high…

The IPO market is hot As I wrote last night, IPO conditions right now seem nearly ideal for growth companies to come to market. The appetite for loss-making companies shows us that public investors are willing to overlook losses as long as…