Financial Markets
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Stuck in Neutral: Trucking And the Pandemic
“Omicron is upon us and a Pi variant is coming, heedless of science or superstition. It would be best for the US, Canada, and the rest of the world to face the coming waves with robust, unfettered trade in operation.” ~ Peter C. Earle
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Stablecoin Regulation
“All the risks that accompany the danger of overregulation like rent-seeking and regulatory capture is magnified in the event of regulatory failure.” ~ Donovan Choy & Joakim Book
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The Long Cycles in Markets and Political Order
“I found Dalio’s thesis much more persuasive than I had anticipated: some historical patterns are real, wave-like, and operate over long horizons. With skill, data, and humility, we can uncover the likely prospects for our own times.” ~ Joakim Book
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The Chinese Financial Sector: On the Brink of Death
“The Chinese banking and real estate sectors are on the brink of death. The government will do everything possible to reorganize the former and to save the latter, but it is very possible that it will be incapable of succeeding.” ~ Daniel Fernández
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Will Evergrande Go Bankrupt?
“The chances of Evergrande’s survival without public aid or without the massive injection of cash from some unsuspecting investor are therefore nil.” ~ Daniel Fernández
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The Horrors Of A Noninflationary Thanksgiving
“Thanksgiving is arriving against a backdrop of worry and complaints, as CPI inflation is up 6.2% on a year-over-year basis. Monetary policy alchemists are forcing Americans to reconsider long-held traditions this year.” ~ Peter C. Earle
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The Case of Evergrande: Is There a Housing Bubble in China?
“The Chinese housing bubble is enormous; various economic indicators leave no room for doubt. Evergrande’s problem is not an isolated issue but a systemic problem with the Chinese economy.” ~ Daniel Fernández
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The Stories from a Decentralized Short Squeeze
“Millions were made, billions lost, revenge realized and dreams shattered. The GameStop saga is both disturbing for what it reveals about a society’s divides and the market structure that made it possible.” ~ Joakim Book
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A New Era of Stagflation?
“The creditors of the United States will not accept negative returns on an ever-expanding mountain of US debt indefinitely. At some point, perhaps not long from now, the US will face sharply higher interest rates and the type of budgetary constraints that were typical of profligate Third World borrowers.” ~ David P. Goldman
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A Tale of Two Pizzas: Are Property Values Really Yours to Keep?
“You may own a monetary asset, but you’re not entitled to determine its exchange rate against other goods and services. Just because you own something, that doesn’t mean you own the prerogative of setting its price. That goes for homes too.” ~ Joakim Book
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•
Stuck in Neutral: Trucking And the Pandemic
“Omicron is upon us and a Pi variant is coming, heedless of science or superstition. It would be best for the US, Canada, and the rest of the world to face the coming waves with robust, unfettered trade in operation.” ~ Peter C. Earle
-
•
Stablecoin Regulation
“All the risks that accompany the danger of overregulation like rent-seeking and regulatory capture is magnified in the event of regulatory failure.” ~ Donovan Choy & Joakim Book
-
•
The Long Cycles in Markets and Political Order
“I found Dalio’s thesis much more persuasive than I had anticipated: some historical patterns are real, wave-like, and operate over long horizons. With skill, data, and humility, we can uncover the likely prospects for our own times.” ~ Joakim Book
-
•
The Chinese Financial Sector: On the Brink of Death
“The Chinese banking and real estate sectors are on the brink of death. The government will do everything possible to reorganize the former and to save the latter, but it is very possible that it will be incapable of succeeding.” ~ Daniel Fernández
-
•
Will Evergrande Go Bankrupt?
“The chances of Evergrande’s survival without public aid or without the massive injection of cash from some unsuspecting investor are therefore nil.” ~ Daniel Fernández
-
•
The Horrors Of A Noninflationary Thanksgiving
“Thanksgiving is arriving against a backdrop of worry and complaints, as CPI inflation is up 6.2% on a year-over-year basis. Monetary policy alchemists are forcing Americans to reconsider long-held traditions this year.” ~ Peter C. Earle
-
•
The Case of Evergrande: Is There a Housing Bubble in China?
“The Chinese housing bubble is enormous; various economic indicators leave no room for doubt. Evergrande’s problem is not an isolated issue but a systemic problem with the Chinese economy.” ~ Daniel Fernández
-
•
The Stories from a Decentralized Short Squeeze
“Millions were made, billions lost, revenge realized and dreams shattered. The GameStop saga is both disturbing for what it reveals about a society’s divides and the market structure that made it possible.” ~ Joakim Book
-
•
A New Era of Stagflation?
“The creditors of the United States will not accept negative returns on an ever-expanding mountain of US debt indefinitely. At some point, perhaps not long from now, the US will face sharply higher interest rates and the type of budgetary constraints that were typical of profligate Third World borrowers.” ~ David P. Goldman
-
•
A Tale of Two Pizzas: Are Property Values Really Yours to Keep?
“You may own a monetary asset, but you’re not entitled to determine its exchange rate against other goods and services. Just because you own something, that doesn’t mean you own the prerogative of setting its price. That goes for homes too.” ~ Joakim Book