Merv loses his nerve.
Monetary policymakers need to spell out why they don’t pay more attention to asset prices, such as housing.
And why stablecoins are less than revolutionary on many fronts.
Central bankers’ theories have in practice fallen short. That has left them vulnerable to attacks.
Libra defections; what was behind Japan’s comparative advantage loss; when a cartoon show defends democracy; plus much, much more...
The story behind how the scramble for intraday liquidity helped to create US tri-party repo and a shadow central banking system.
It’s a $1.7tn figure with a generous splattering of Tencent.
How China might (emphasis on ‘might’) respond to capital controls.
Wikipedia clashes; a drug to solve the opioid crisis; worrying about the repo market; plus much more...
All served up with a sprinkling of magical blockchain dust, naturally.
Building diamond empires; What we can learn from another historical centre of innovation; Can UBI lead to despotism? plus much more...
David Levy on what if we’re not investing too little, but too much in a “bubble or nothing” economy that doesn’t generate enough income?
Boeing managing processes; Why we love to call everything a bubble; What’s going on in Germany’s economy? plus, much, much more...
Neither experience nor theory supports the case of the hawks.
David Marcus says Libra is an “instrument of development” that will (somewhat paradoxically) allow Western nations to preserve their influence.
A 20 per cent move may be a regular occurrence in crypto markets, but in commodity markets it’s exceptional and potentially indicative of a point of no return.
The grandmaster diet; smoking to kick vaping; AOC on WeWeork; plus much, much more...
A disappointing package risks denting ECB’s inflation credibility.
Alphaville puts on its sellside hat once again for the sale of the century
POTUS’s trade war underlines decades-old truth: We can’t rely as much on the dollar. Or central banks.
Bethany Mclean takes on Elon; Robotaxis might be a red herring; Tesla’s Project Titan; plus much, much more...
Central banker uses big word to make rare admittance of fallibility.
Just how reliable is the inversion of the yield curve in forecasting recession?
Fund managers are sour on Trump’s tariff tactics.
Luxury fashion meets surveillance suppression chic.
When tariffs close a door in one place, they open a window elsewhere.
Convenience maximalism; the perils of free financial advice; the invention of money, plus much, much more...
Space is the place, if you’re extremely rich.
Plus, a text-based follow-up on his views about Facebook's Libra.
History teaches us that when credit systems are replaced with payment systems, economies are starved of liquidity.
