Let’s start by sketching out a rough spectrum of the pandemic’s impact on major industries. At the hellish end of this spectrum is hospitality, where
Let’s say President Trump is right about the coronavirus “miraculously” fading away as temperatures rise in the Summer. Will things then go back to the
To understand just how grim the coming decade is likely to be for the world’s super-rich, let’s start with three premises: 1) Capitalist democracy —
When people talk about empires of the past, they generally mean Rome and Britain. But the biggest and in some ways most interesting empire was
Not so long ago the US economy had some bright spots that seemed to justify a general sense of optimism. The fracking revolution had turned
Every week is eventful these days. But the most recent one stands out for sheer edge-of-the-abyss when-it-rains-it pours diversity. Some of the highlights: US stocks
The past decade was a uniquely smooth stretch of financial highway. Pretty much every major asset class – stocks, bonds, real estate, fine art, you
The Baltic Dry Index represents the cost of renting an ocean-going container ship to move goods from, say, Chinese factories to the Port of Los
Money manager Michael Pento has been bearish on both stocks and bonds for some time. 2019 is the year, he says, when the big crash
Despite all the ominous press being devoted to the soon-to-be-inverted yield curve, it’s not always clear why such a thing matters. In other words, how,
The apocalyptic fires that hit California last month have left observers scratching their heads and wondering how destruction on that scale could be possible –
Back in 2104 oil was falling and hundreds of billions of dollars of energy junk bonds and leveraged loans looked to be at risk. Wolf
Yesterday an entire California town burned down. Paridise, CA has (had) 27,000 residents and over 1,000 buildings, and now it’s pretty much gone. A fire
First developing countries blew up. Then real estate topped and started to roll over. Now oil has entered what CNBC just called its “longest losing
As contentious as the US midterm elections were, there was never a scenario in which they mattered. Any possible configuration of Republicans and Democrats in
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