Thoughts From the Frontline, December 2015

The Seven Fat Years of ZIRP

December 20, 2015

“The Fed’s emergency policies since 2008 have in one sense been a huge success, though we will never know the counter-factual. A great depression was averted. Output is 10pc above its previous peak. Employment is up by 4.7m.

“Yet zero rates and QE set off torrid credit bubbles in the emerging world, pushing up the global debt ratio by 30pc of GDP beyond their previous record in 2008. The Bank for International Settlements calls this a “Pareto sub-optimal” for the world as a whole. The chickens...

George Friedman’s World of Geopolitics

December 11, 2015

Today I can finally announce an exciting event for Mauldin Economics and for me personally. I believe you will be excited, too.

Longtime readers know that George Friedman, one of the world’s foremost geopolitical analysts, and I are very close friends. We have been collaborating for years.

You Have Questions, I Have Answers

December 6, 2015

Every week when I write letters to you, I face the question of what to write about and where to start. I actually had a story finished for you early Friday (and it was unusual for me to be done so early).