Save the Dates: May 1-3 Prisoner of the Bureaucracy A Deep Sense of Injustice The Good, the Bad, and the Greek (Risks) Chris Kyle, R.I.P. "The euro will not survive the first major European recession." – Milton Friedman, 1999 "It seems to me that Europe, especially with the addition...
There Is No Easy Grexit A Rational Bank Run Greek Fatigue The Alligator of Bank Runs Who Gets the Old Maid? Atlanta, New York, Philadelphia, Italy, and Singapore "Had I right, for my own benefit, to inflict this curse upon everlasting generations? I had before been moved by the sophisms of the being...
Who Took My Easy Button? Putting a Good Employment Number in Perspective When a College Education Isn’t Enough We’re All Turning Greek Who Can Afford Health Care? Everyone knows by now that the US is facing difficult choices. Depending on what assumptions you use, the unfunded liabilities...
The Transparency Trap Tell Us What You Think We Want to Hear A Very Soft GDP Number Central Banks: A High-Wire Balancing Act What Does It All Mean? A Few Thoughts on LTRO Greek Exhaustion Syndrome Cape Town, Stockholm, Geneva, Paris, and London This week we take a brief pause in our series on the choices...
Long-time readers will be familiar with Michael Lewitt, one of my favorite thinkers and analysts. He has gone off on his own to write his letter, and I am encouraging him to write even more. I call Michael a thinker because he really does. He reads a lot of thought-provoking tomes and then thinks about...
The Contagion Risk of Europe Will the Euro Survive? A Greek Coup? No Good Deed Goes Unpunished Home Again, Home Again I am back from Europe. The last three weeks I spent quite a bit of time talking with money managers and investors from a lot of countries, as well as numerous locals about the European...
This will be one of the more controversial Outside the Box posts in a great long time. Indeed, I debated with myself at some length. It will make some readers mad, but I decided it is more important to make most readers think. And, as it happens, there are parts of this week’s essay that I rather...