players

A“Modern Monetary Theory is Pandora’s Box,” lamented Lithium, Handsfree on Highway 1. “It’s not that MMT is wrong, in fact it’s right in terms of describing how money works in a fiat system,” he said, banking a turn, the Pacific shimmering to the left, Malibu’s cliffs on the right. “But I’m afraid we’ll soon discover that compared to what we’re now unleashing, we were better off engaged in endless arguments between K

AToday’s Fed impotence is a rare occurrence in nature, decades in the making. And like everything on this magnificent planet, spinning in space, it has manifested within an infinitely complex web of relationships that we can sometimes glimpse, grasp, but are more often woven in ways impossible to unravel, difficult to even observe, let along comprehend. So here we are, interest rates at zero, central bank balance she

Hope all goes well… “Stay low,” I whispered to Charlie as we moved slowly toward the pool, Wildcat Brook gurgling, pristine, high in New Hampshire’s White Mountains. “He’s there,” I motioned. Charlie nodded, presenting the fly with a gentle cast. Fishing has connected fathers and sons forever, and we in turn to our environment. A delicate dance. Ancient. The tiny book trout hit, Charlie pulled back with an 11-year-ol

Hope all goes well… I take a break from writing each summer, to catch up on reading, recharge, seek solitude. Hope you found some of the same – going to be a wild ride from here to the January 20th inauguration. Dusted off an anecdote from 2017 comparing the American system to a poker game (see below). Back next Sunday with full weekend notes. All the best, E Week-in-Review (expressed in YoY terms): Mon: China

Hope all goes well… I take a break from writing each summer, to catch up on reading, recharge, seek solitude. Wishing the same for you. Dusted off an anecdote from 2013 on inequality, humanity, a conversation with a policy maker in Johannesburg (see below). Back in September. All the best, E Week-in-Review (expressed in YoY terms): Mon: 800k global Covid-19 deaths (US leads with 180k), South Korea closes most schools

Hope all goes well… I take a break from writing each summer, to catch up on reading, recharge, seek solitude. Wishing the same for you. Dusted off an anecdote from 2012 about unexpected challenges, mental toughness, perfecting the journey (see below). Back at the end of August. All the best, E Week-in-Review (expressed in YoY terms): Mon: Chinese fighter jets briefly cross midline of Taiwan Strait, China CPI +2.7% (e

Hope all goes well… I take a break from writing each summer, to catch up on reading, recharge, seek solitude. Wishing the same for you. Dusted off an anecdote about the intersection of inspiration and science in the art of trading (see below). See you at the end of August. All the best, E Week-in-Review (expressed in YoY terms): Mon: China PMI manu +1.6 to 52.8, Australia’s Victoria declares state of disaster over Co

Hope all goes well… I take a break from writing each summer, to catch up on reading, recharge, seek solitude. Wishing the same for you. Dusted off a sports anecdote about things that can’t be taught, only found (see below). Back at the end of August. All the best, E Week-in-Review (expressed in YoY terms): Mon: Chinese researcher/spy arrested in SF consulate, global negatively-yielding debt hits $15.2trln (above Marc

Hope all goes well… I take a break from writing each summer, to catch up on reading, recharge, seek solitude. Wishing the same for you. Dusted off an anecdote from 2017 about revolutions and the treacherous path we’re on (see below). See you at the end of August. All the best, E Week-in-Review (expressed in YoY terms): Mon: Beijing regulators to allow insurance companies to own more stock (Chinese equities +2.6%), Ja