Tag Archives: Central Banks

Tighten Your Belts: The Rationale

Markets seem happy for now to focus on the carrot of a vaccine while ignoring the stick of the further severe restrictions to life and liberty being implemented while we await its delivery. Whether or not it offers a release from bondage, the state’s rediscovered taste for authoritarianism will, however, take some good time to dispel, while its corollary – the move toward taking an ever greater role amid the wreckage of the private economy – is being pursued with relish. Whatever the sloganizing, this is very unlikely to Build anything Back Better – only dearer and scarcer.

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Fire and Water

This essay attempts a review of the economics – and the prevailing economic thinking – which have brought us to our present pass of high-leverage and heavy debt-dependence. It helps set the backdrop for an in-depth look at markets which will follow shortly…

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The Rhyme of History

While stocks have generally tended to offer better returns than Treasuries, it has not all been plain sailing for equity investors. Intriguingly, the last 50 years’ ups and downs share more than a few similarities with the first half of the last century. Could that uncanny resemblance continue to hold henceforward?

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Flow My Tears, the Policeman Said

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Positively Natural – Pt IV

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