The central banks of the developed world are printing money and are engaged in a very-low-interest-rate regime. What does that mean for emerging markets? It is more than just a dilemma, it is a tri-lemma – they have problems not just coming and going but also sitting still! I am in Zurich tonight after a long day, with a 4:30 AM wake-up call to get back home, but deadlines are deadlines. So, to make this one easier on me as well as hopefully instructive for you, you will get chapter 15 of my new book, Endgame, in which coauthor Jonathan Tepper and I speculate about the future of emerging markets in general and investments in them in particular. We once again are on the New York Times best-seller list this week, by the way (thanks to many of you).
reviews keep coming in. I have never met Anthony Harrington, but he is clearly
a keen and astute analyst, since he has called this book a must-read.
Seriously, he homes in on one aspect that I think is critical; and that is the
issue of trade deficits and fiscal deficits and how they affect each other. You
can read his work at http://www.qfinance.com/blogs/
this week, if you have not yet bought your copy, let me commend you to my friends
at Laissez Faire Books. I have been buying books from them for nearly 30 years.
They are the best source for Austrian economics and libertarian books, along
with the usual offering of investment books current in the market. They have
matched the Amazon price for Endgame;
but if you are interested, move around their website and pick up a few other
things along with my book. http://www.lfb.org/product_
And now, let’s look at emerging markets.