Deep Dive: Emerging Markets
Item #1: Fiscal Deficits
U.S. fiscal deficits were huge in 2020 and 2021, but contracted in 2022 as most of the emergency programs dwindled.
However, by 2023, fiscal deficits began rising again , mainly due to increased interest expense. This is where fiscal dominance became rather sustained: the Fed’s interest rate hikes, which were meant to slow
... See moreLyn Alden • July 2024 Newsletter: Rates Insensitivity in the Downcycle
Work in ProgressAmerica’s Most Important Economic Storyteller Is ConfusedAn old economy is dying, and a new economy is struggling to be born. Now is the time of monstrously confusing data.By Derek ThompsonAn illustration of the dollar-bill portrait of George Washington shrugging in confusionThe Atlantic; GettyJune 17, 2022About the author: Derek Th... See more
The Atlantic • America’s Most Important Economic Storyteller Is Confused
Bitcoin Is Venice: Essays on the Past and Future of Capitalism
Alex Gladstein • 3 highlights
amazon.com
4th Quarter Commentary January 2024
A perspective on historical economic eras and the implications for current market risks and investment strategies, with a focus on factors such as global trade, labor arbitrage, and the rise of China.
horizonkinetics.comThe surplus liquidity isn’t likely to ignite an inflationary boom in the U.S. economy if consumers refuse to borrow and spend. But that liquidity has to go somewhere, and emerging markets look like the most likely destination.