new economy

Uber Suffers Major Setback In Efforts To Conquer European Market

For years Uber has been battling with Barcelona taxi drivers who have argued that UberPOP engages in unfair competition by using unlicensed drivers that are not subject of the same regulatory hurdles as a regular "transport company."  And while Uber has historically taken the approach of just entering new markets and sorting out the regulatory hurdles later, it looks like those hurdles are finally catching up with them in the European Union...

Are Tax Cuts The Economic Growth 'Cure-All'?

"Will 'Trumponomics' change the course of the U.S. economy? I certainly hope so. Unfortunately, there is no evidence that such has ever been the case. As investors, we must understand the difference between a 'narrative-driven' advance and one driven by strengthening fundamentals. The first is short-term and leads to bad outcomes. The other isn’t, and doesn’t."

Frontrunning: March 29

  • British PM May fires starting gun on Brexit (Reuters); Britain Starts ‘Historic’ Brexit Process (BBG)
  • Firms stack up Brexit warnings as May triggers divorce talks (Reuters)
  • Huge range of sterling forecasts clouds horizon for Brexit talks (Reuters)
  • Merger of Deutsche Börse and LSE Blocked by EU Regulator (WSJ)
  • After crippling cost overruns, Toshiba's Westinghouse files for bankruptcy (Reuters)

The US Is About To Hit $20 Trillion In Debt: Here's How It Affects You

As the vulture pundits in the mainstream media pick apart hollow political scandals, the essential bankruptcy of the federal government looms just ahead. The national debt is creeping toward 20 trillion dollars, and the United State’s largest problem is once again staring the world in the face.

3 Things: Policy Hopes, Consumer-Spending Puppies, & Tax-Cut Rainbows

"Will “Trumponomics” change the course of the U.S. economy? We certainly hope so as any improvement that filters down to the bottom 80% of the country will be beneficial. However, as investors, we must understand the difference between a “narrative-driven” advance and one driven by strengthening fundamentals. The first is short-term and leads to bad outcomes. The other isn’t, and doesn’t. "

Do Central Bankers Know A Bubble When They See One?

In spite of being exposed in what is either a self-exculpating lie (the claim that bubbles can only be seen after they burst) or a sign of gross incompetence (the failure to see two of the largest financial bubbles in history), no Fed official has ever been asked to explain or rationalize the Fed’s contradictory positions on bubbles.

Can Trumponomics Fix What's Broken?

Will “Trumponomics” change the course of the U.S. economy? We certainly hope so. It will be better for us all. However, as investors, we must understand the difference between a “narrative-driven” advance and one driven by strengthening fundamentals. The first is short-term and leads to bad outcomes. The other isn’t, and doesn’t.

A Narrative For Every Season: Stocks, Before And After Trump

Following Donald Trump’s surprise victory and the violent market reactions, many investors are left scratching their heads. The consensus narrative warned that a Trump victory would spell doom for the markets. Days later, the narrative flipped and Trump’s economic policies, all of which were known prior to the election, are deemed beneficial for share prices.

"Welcome To Fantasy Land" Peter Schiff Warns Negative Rates Will Kill Growth

"So we have a choice, either we continue down the road of negative rates to Fantasy Land, where central banks own all the stocks and bonds and asset prices always rise, but real wages and average living standards always fall, or we take our chances on a different path that leads to reality, however unpleasant the transition may be. I for one would choose the latter, but it looks like I won’t have much company."