Jul 20

GDP: A Brief But Affectionate History

“Measurement theory shows that strong assumptions are required for certain statistics to provide meaningful information about reality. Measurement theory encourages…

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Jul 5

Central Bank Smackdown

Smackdown: smack·down, ˈsmakˌdoun/, noun, US informal 1.  a bitter contest or confrontation. "the age-old man versus Nature smackdown" 2.  a decisive or humiliating…

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Jun 29

The New Normal of Healthcare Spending

A rather interesting shockwave came across the newsfeeds this week. I was actually doing a TV interview when the host…

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Jun 22

Italy: When Hope Is a Strategy

I came back from Italy this week, and one of my guilty pleasures was being able to sit down and…

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Jun 15

The Age of Transformation

“How did you go bankrupt?” “Two ways. Gradually, then suddenly.” – Ernest Hemingway, The Sun Also Rises “The opening up of new…

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Jun 8

Can Central Planners Revive China’s Economic Miracle?

For years, when asked whether I thought China would experience a hard landing, I would simply answer, “I don't understand…

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May 31

Looking at the Middle Kingdom with Fresh Eyes

I am writing this introductory note from London during a layover on my way to Rome, and I’ll append a…

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May 25

A Bubble in Complacency

Notes from SIC 2014 I and many others are still trying to digest the massive amount of useful and original information…

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May 18

Special Updates from the Strategic Investment Conference: Day

By Worth Wray Good morning from 30,000 feet, somewhere over the great American West! I admit to being a little overwhelmed as…

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May 16

Special Updates from the Strategic Investment Conference: Day

By Worth Wray Hello again from the Strategic Investment Conference in San Diego, California! John Mauldin took the stage on day 2…

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May 15

Special Updates from the Strategic Investment Conference: Day

By Worth Wray Good morning from sunny San Diego, California! As the sun rises on the second day of the Strategic Investment…

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May 11

Are Valuations Really Too High?

The older I get and the more I research and study, the more convinced I become that one of the…

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May 3

A Yen for a Mortgage

For some time I have been saying that I was going to close the mortgage on my new apartment and…

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Apr 27

The Cost of Code Red

(It is especially important to read the opening quotes this week. They set up the theme in the proper context.) “There…

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Apr 12

Every Central Bank for Itself

“Everybody has a plan until they get punched in the face.” – Mike Tyson For the last 25 days I’ve been traveling…

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Apr 6

The Lions in the Grass, Revisited

“In the economic sphere an act, a habit, an institution, a law produces not only one effect, but a series…

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Mar 29

When Inequality Isn’t

“An imbalance between rich and poor is the oldest and most fatal ailment of all republics.” –Plutarch, Greek historian, first century…

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Mar 22

China’s Minsky Moment?

In speeches and presentations since the end of last year, I have been saying that I think the biggest macro…

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Mar 16

Inequality and Opportunity

“Nothing is more dangerous than a dogmatic worldview – nothing more constraining, more blinding to innovation, more destructive of openness…

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