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“That is more of a philosophical question,” said the Minister, pausing, smiling. I nodded silently, waited for an answer. You see we’d been discussing a wide range of policies his office had implemented. I’d started by acknowledging that America also runs persistent budget deficits, generates chronic current account deficits, creates money with which our central bank buys government debt, promises entitlements it is
“I was moved to tears by the sunset on Maui,” said my buddy. “Everything I felt was in the extreme, like a child.” He and two others set off to complete 5 Iron Mans in 5 days. He’d finish one, drive to the airport, sleep 20mins inflight to the next island, drive to the ocean, and jump in. For another 2.4 mile swim, 112 mile bike, and 26.2 mile marathon. “Never knew it was possible to sleep so little – this is about u
“The Fed is desperate to raise rates,” said the macro CIO, having another great year. It’s become his habit. “I don’t think any of those guys really understand what creates inflation; they dogmatically cling to the idea that the Philips Cure drives price changes,” he continued, amazed, appalled. “Any freshman year statistics student knows there’s no statistical relationship between unemployment and inflation.” Of cou
“People say I have a terrible accent, that I sound like some guy from Brooklyn,” he said, with a terrible Brooklyn accent. “I don’t deny it, I don’t dare try and change it, I use it as a strength,” he continued, laughing, defiantly. “And I don’t believe in media training, I just ignore the fact I’m on TV, I just am who I am, I talk to people like I’m talking to you now,” he said gruffly, getting on a roll. “So when e
“We are at an inflection point in Modern Chinese history,” said David Petraeus, former CIA chief and four-star General. “A number of dynamics are different, President Xi knows this and is trying to work through them,” he continued. Then listed China’s challenges: labor cost advantages are being lost, economic returns from moving rural people to cities has diminished, Debt/GDP is probably the highest on earth but hard
Pulled in. Hopped out. Dragged my bags from the back seat. “Daddy’s home!” shrieked the lookout. And their campaign began. Shock-and-awe. My four year old hit first, at full speed, hurling himself with the kind of un-hedged commitment that comes from having always been caught. I threw the little terrorist high in the air. Because I still can. And as Osama bin Charlie wrapped himself tightly around my neck, securing t
“People are missing the catalyst,” he said. Rain fell in sheets, lashed the windows. The room shook. Rattled by the incessant cracking of jackhammers, far below, chipping away at Manhattan’s bedrock. Making way for skyscrapers. “A trend started in Jan and Feb, in the place where all bad financial things happen; Japan,” continued the CIO. “One of my traders called early this year to say the damndest thing had just hap
“No Asian nation ever successfully transitioned from a mercantilist to a consumption-based model,” said the CIO. “Part of the problem is cultural, part is age; their societies grow old so fast.” But China’s not just any Asian nation. Earth’s 2nd biggest economy grows quicker, compounds faster, consumes more oil, coal, steel, food and water than any nation. China’s 1.36bln citizens breathe 19% of the air that enters h
“Shhh…Be vewy, vewy quiet…I’m hunting wabbits,” whispered Elmer Fudd, as Bugs strode up behind the hapless hunter, munching a carrot, “What’s up Doc?” I’ve often felt like Fudd. Then there’s Wile E. Coyote. Building elaborate ACME traps. Heavens knows how often my best-laid plans rewarded me with horrid gunpowder burns. Left me wide-eyed, hair standing on end, smoldering, staggering. Naturally it’s not always disaste