The Borrower of Last Resort (August 2010) Discusses why governments need private savings to maintain stimulative fiscal policies and why channeling those savings into investments is best. Review of the Keynes paradox of thrift, the need to reduce deficits but also how that can also be a recipe for disaster. Describes how the Feds can avoid igniting inflation and why government spending and borrowing can prevent deflation.
Liquidity and the Markets (September 2009) Explains how illiquid portfolios played a role in the violent plunge in global equity markets in the recent past, why prudent use of liquidity is an element that investors can use to their advantage in generating returns and why understanding liquidity can also help us to interpret market activity.
Lessons from History (May 2009) Discusses the philosophical framework of the Obama Administrations’ stimulus plan and places it into an historical context, discussing its Keynesian economic impact and Hamiltonian design, revealing the coherence and consistency of the ideas behi
It’s a New Year — Now What? (January 2009) Increases in the market risk premium analyzed, with assessment of implications for individual investment strategies relative to risk tolerance and investment timeframes, as well as risks to corporations with and without access to capital, in their abilities to prosper and produce superior returns.