Donald Trump

Inter-subjectivity For the past couple of weeks, I have been listening to an audiobook recommended by a friend I recently visited in London. It It's called Sapiens - and it bills itself as "a brief history of humankind". I find the book a…

I am back from my beach vacation. So, let me outline what my thinking is after a period of reflection and how it has changed or stayed the same. I last posted more than a week ago right before I left, regarding my frustration about…

The US is the cleanest shirt Last week, I was talking to Megan Greene, the former chief economist at John Hancock for an interview on the US and European economies. And she said something that resonated with me about the global growth…

Yesterday, the overarching message of my post was this bit: "as we think of potential outcomes, policy error has to be a real concern here, especially in 2020 once the cumulative impact of all this takes its full measure." I don't think the…

The big story today is the potential for a currency war, emanating from the escalating trade war between the US and China. But there's a considerable degree of data flow that I want to parse to give a more complete macro view. Having…

I was thinking about this topic this morning and I wanted to run it by you. The genesis of it all was an interview I did with Rohan Grey and Kevin Muir on Real Vision regarding MMT. And one conclusion I drew - partially motivated by the…

The economic data out of the US and elsewhere still point to continued economic expansion over the near term. But, what we're seeing in financial markets right now suggests markets are discounting serious economic problems down the line.…

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…

Yesterday, in the US, the S&P 500 and the Nasdaq indices hit record highs. And the Dow Jones Industrial Average is not far behind. Financial markets are doing well. In the real economy, for weeks now I have suggested that the signs of…

I apologize in advance for posting this downbeat narrative. But it's what came to mind after reading the news after the Mueller Report was released in the US yesterday. Let me tell you where I'm going with this and what I think it means.…