Macro

Playing a Game of Economic Survivor

I don’t do writing assignments. I don’t like deadlines. I am not a writer; I am an investor who thinks through writing. So when Institutional Investor asked me to write on the future of investing, my instinct was to politely decline. But the topic did seem intriguing. So I decided to give it a try.

The China Syndrome

MOST PEOPLE are convinced by now that there is a fixed-asset bubble in China that is on the verge of bursting. ...

For Europe, Breaking Up Is a Hard Thing to Do

Everyone is looking with horror at Europe, waiting for the European Economic and Monetary Union to break up and for ...

We Are Not AAA

I have received many emails and a few calls from friends, asking one question: What are the consequences of the ...

The Chinese Black Swan

Party rulers in China are trapped in a position that chess players deeply fear — zugzwang — where any move ...

Set the Bar High

The Ups and Downs of Flying I am a very nervous flyer.  Whenever there is a little bit of turbulence, ...

Japan: Land of the Rising Debt

Two decades of stimulative, low-interest-rate fiscal policy have made Japan the most indebted nation in the developed world

The Second Edition of the First Part of My Book (free)

The Second Edition of the First Part of My Book (free)

This presentation/speech qualifies as a second (free) edition of the first part of my book – the part that explains why we are likely suffering through a range-bound market.

Econ 101 Credit Card Fees

Econ 101: Credit Card Fees

Banks opened a dirty, ugly Pandora's box when they destroyed their balance sheets to the point that the Federal government HAD to bail them out. 

Stock Prices_ Consumer Confidence_ CEOs — Self-Fulfiling

Stock Prices, Consumer Confidence, CEOs — Self-Fulfiling

I'll not make a prediction if this latest rally in stocks is sustainable or not. I don't know. But it is self-fulfilling.

Putin – the New Capitalistic Pig

Putin – the New Capitalistic Pig?

I found myself in a very awkward state when I read this. Though I agree with Mr. Putin, how can I argue with this flawless rhetoric?

Expect Tensions with Russia

Expect Tensions with Russia

Russia's economy is deteriorating at a very fast pace. The Stabilization fund - a giant $450 billion savings account - has been depleted by a quarter since September as Russia tried to defend its currency.

A Far-East Fiasco

A Far-East Fiasco?

An article on China piqued my interest. China plays a very important role in the global economy and thus I pay close attention to it. 

Russias Depressing Story

Russia’s Depressing Story

After 16 years of almost no contact with my Russian high school and college friends I stumbled on Odnoklassniki.ru, a website very similar to Classmates.com.

Russia Think Again

Russia? Think Again

As you look at the high-flying Russian stock market, you may feel like you want some of it. But before you dive into Russia consider this: as it is, Russia is a dysfunctional play on high oil prices as well as commodities. It is no less bureaucratic than it was some fifteen years ago.