Debt

How Do You Say Black Swan in Mandarin?

How Do You Say Black Swan in Mandarin?

Michael Schuman’s reminder in a recent BusinessWeek article is one of the clearest high level observations I’ve read on the perverse and unpredictable nature of too much debt in the short run, never mind the long term requirement to repay it; he focuses on the...
Better Ideas for the Economy

Better Ideas for the Economy

Most Western countries are experiencing a revolt against the intellectual and political elites who have governed nations, the media, academia and central banks for as long as most adults can remember. While the country-specific details vary slightly, the common wisdom...
I Hear Flapping

I Hear Flapping

By definition, we are not supposed to be able to predict Black Swan events before they occur, but I hear a lot of flapping, and it’s getting louder. If you’re interested in the future of our economy, please read Mervyn King’s new book The End of Alchemy. Lord King was...
The Next Black Swan

The Next Black Swan

It has now been almost seven years since the world went through its last financial meltdown, or Black Swan, and from sixty-eight years of personal observation, it’s about time for another one, because they always eventually happen, no matter what the elites and the...
Will We Follow Europe Into the Abyss or Pull Back?

Will We Follow Europe Into the Abyss or Pull Back?

If you were in a line of fast moving cars running in and out of fog and suddenly the fog parted and you could see that the bridge ahead had just collapsed, and that cars were falling into the deep canyon, would you continue to speed forward because you enjoy how your...