Last week, markets rebounded. Major equity indices have now recouped half their losses from their Covid-19 driven lows.
Markets are Mistaken
Continue Reading
Thank you for reaching out! We will soon get back to you.
Meanwhile keep feeding your mind with free ideas
A Global COVID-19 Exit Strategy
The COVID-19 pandemic poses an unprecedented threat to both public health and the global economy. Only by ditching nationalist rhetoric and
The Climb Ahead
The tectonic shocks of a world now defined by COVID-19 will settle over time, but the landscape of our lives may never look the same.
The Human-Capital Costs of the Crisis
Unlike a hurricane or earthquake, the coronavirus pandemic has caused no damage to physical capital stock. But firm-specific skills have no
Getting America Back to Work… Safely
Without a credible plan, the nation will be in fear and chaos for a long time. COVID-19 infections are peaking in parts of the country, but
Cryptocurrencies’ Time to Shine?
Digital money with strong privacy protections will be a key feature of the post pandemic recovery.
Will COVID-19 Derail the African Century?
Africa’s high urban population densities, high numbers of day workers, and weak medical systems would seem to make it highly vulnerable
A Flat Curve is Not Enough
Investors ought to be wary of overstating the economic and market benefits of pandemic curve flattening.
What Trump Needs To Say
As in past global and national emergencies, the COVID-19 pandemic is a crisis that demands leadership from the highest levels.
What COVID-19 Is Doing To The World Economy
The world economy is in the midst of a unique shock. It tests our ability to use conventional models and history to gain understanding.
Uncertainty, Risk and Asset Prices
The pandemic remains the sole driver of global markets. That reality makes fundamental analysis difficult, if not impossible.
A Better Idea
During the COVID19 crisis, it is easy to forget that the world is full of other important stress points that must not be ignored. The seemingly
Why The Largest Stimulus In History Still Is Not Enough
Global equity markets rallied over 20% last week on expectations that the $2 trillion U.S. fiscal stimulus package would be adequate to combat
Time To Face Up To The Crisis
It has been said that generals are always fighting the last war. Are governments and central banks, in their rush to deploy big bazooka stimulus
History Has Something To Say
Today, it is tempting to jettison conventional thinking about asset prices and their relationship to the fundamentals.
Time To Print Money
As the pandemic spreads, so too do fears of recession or worse. Respected forecasters speak of 30-50% declines in US gross domestic product,
A New Kind of Corporate Leadership out of COVID-19
COVID-19 is ripping the veneer off society and exposing our ‘system’ as unprepared to provide appropriately for a large swath of the population.
Unsung Heroes Who Give Me Hope
The spread of COVID-19 is likely to be one of the defining issues of our time. Just like those that lived through the Great Depression, World
Should Markets Be Closed?
Today, our species is in panic. COVID-19 is driving upheaval in every human realm. There can be no doubt that the primary mission is to slow
Restoring Market Confidence: What Will It Take?
While China appears to have contained new rates of infection (flattened the curve to near-zero new cases), doubts will persist whether China’s
States Must Coordinate or the Curve Won’t be Flattened
All fifty states have declared states of emergency. But even under these declarations, counties pursue their own policies.
Love in the Time of the Coronavirus
The Seattle community is about two weeks ahead of the rest of the US in adapting to our new coronavirus-driven reality.
Market Volatility Explained
This morning, March 18th, global equity markets are again in steep decline, despite the stepped up fiscal and monetary commitments announced
Thoughts on Surviving this Avalanche
Public policy is now moving on two fronts: containing the pandemic and offering economic stimulus. But will that be enough to draw support