Image: Pyramids of Giza
A photo of the Pyramids of Giza, taken in the 1870s
Daniel Lacalle: German Economy Succumbing to Zombie Companies
“These types of policies are relatively social at the beginning but they become the most anti-social afterwards”
Chart: Growth Stock Out-Performance Only Outdone by 1932 and 2000
The extreme divergence between growth stocks (Healthcare and Tech) and cyclicals (Energy and Financials)
Here Comes Another Round of Inflation-Roulette
Imagine what will happen once the Fed realizes it needs to change course
One in Three Cars Worldwide Is Now Produced in China
The ailing U.S. car industry lost 40% of its domestic production between 2014 and 2019
Chiavarone: China Looking Like 1990s Japan, US the Next Growth Story
Ultimately, the United States is really well positioned to… become that ‘next great emerging market’
Image: The Bacino di San Marco
Canaletto – 1725
El-Erian: Over Reliance on Financial Markets Will Have Huge Consequences Down the Road
“Remember what small business do. They’re not just large employers. They’re also the main way to have inclusive capitalism”
US Core CPI Posts Biggest Monthly Gain Since 1991
For how long we will be able to continue the delusion that low inflation is our biggest monetary challenge?
David Roche: China’s Price for Hong Kong Is Taiwan
“What has happened in Hong Kong has lost Taiwan for China forever”