Some Unpleasant Federal Reserve Arithmetic
The Nobel Laureate Thomas Sargent wrote a famous paper called “Some Unpleasant Monetarist Arithmetic” about how national debt could grow in an unsustainable fashion (from a purely hypothetical standpoint, of course). The Federal Reserve System has its own kind of “unpleasant arithmetic” to consider. The unpleasant arithmetic stems from the fact that the higher the […]
Nobody Saw a Man Descend From an Ape
A recent Financial Times report (“India Drops Evolution and Periodic Table from Some School Textbooks,” June 6, 2023) adds to the bad news we have been hearing from India: India has dropped Charles Darwin’s theory of evolution and the periodic table of elements from some school textbooks, part of a widening campaign by the Hindu […]
Wage-price spirals are far scarier in theory than in practice
A wage-price spiral is the stuff of inflationary nightmares. It refers to a situation when prices gallop higher—perhaps because of a sudden shock or policy missteps, or both—and wages race upward to keep pace with them, in turn feeding through to yet more price rises and yet more wage increases, and so on in a […]
South Korea has had enough of being called an emerging market
In the 1960s South Korea was a poor, backward country recovering from a devastating war. Now it is the 12th-largest economy in the world. Its 52m people earn an average of $35,000 a year, nearly as much as Italians and way more than Iberians. Its stockmarket is the 16th-biggest globally, with a capitalisation of $1.8trn, […]
America is losing ground in Asian trade
The intensifying rivalry between America and China has not been kind to open markets. Letting defence or foreign ministers dictate trade policy, it turns out, is not conducive to making goods move more smoothly across borders. Yet even as globalisation crumbles, a race to gain commercial clout in the world’s most populous and fastest-growing region […]
Jay Powell’s conversion | Financial Times
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. Sometimes the market reaction to Federal Reserve press conferences is fun, and sometimes it is boring. Yesterday, it was boring. Stocks shrugged, as did most of the bond market. […]
Black Shark Official Global Black Shark 4 Pro Gaming Phone
Other roles have seen him start projects from zero and grow their audience – covering Google, Apple and T-Mobile in depth. In that time, his areas of focus and expertise have mostly been smartphones and wearables, but he has a musician’s ear and is equally adept http://www.repro-med.net/revamp-your-samsung-sm-t530-with-custom-firmware.html at judging headphones and audio products. He’s a […]
Cleopatra & WOKE Changing History
I have finished the next book on the real story of Cleopatra and Mark Antony and how this was really a Proxy War where Cleopatra used Mark Antony and funded his entire army to defeat Octavian and seize control of the Roman Empire. She was a highly intelligent woman and knew how to manipulate […]
