Outside the Box, February 2017
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February 22, 2017
As readers know, I have been doing a multipart series on the proposed tax reforms for the last three weeks in Thoughts from the Frontline. My intention is to finish this week. In part two I talked about what I like about the Better Way proposal, and in part three I pretty much eviscerated the border adjustment tax (BAT), which I think has the real potential to create a global recession. You’ll need to read the series to see why, but a lot of it has to do with simple game theory, which the...
February 15, 2017
Today’s Outside the Box is a special treat. My good friend and fellow Texan Danielle DiMartino Booth’s new book, Fed Up: An Insider’s Take on Why the Federal Reserve Is Bad for America, was out officially yesterday, on Valentine’s Day, and already there are dozens of reviews all over the internet.
Ten years ago, Danielle left a trading gig on Wall Street to work directly for Dallas Federal Reserve President Richard Fisher. She helped him gain insights into the economy and aided in crafting his...
February 8, 2017
Longtime readers of Outside the Box know that I am a fan of Dr. Lacy Hunt of Hoisington Investment Management. Lacy and his partner, Van Hoisington, produce a quarterly letter that is a must-read for me, as it reliably informs my thinking in a world drowning in conventional economics – economics that seem to continually miss the mark.
It almost goes without saying that Lacy will be speaking at our Strategic Investment Conference again this year, and he’s just one of a long (and...
February 3, 2017
In last weekend’s Thoughts from the Frontline, I talked about how the economics profession in general and central bankers in particular have consistently failed with their economic projections, and I pointed to the need to deepen our understanding of complex systems behavior. I said that we need to marry complex systems theory and information theory in order to establish a new basis for analyzing the economy and creating economic policy.
I couldn’t have been happier, then, when the new issue...