Outside the Box

Keynesian Confusion

John Mauldin

November 1, 2010

Michael Lewitt is one of the most provocative writers I know. He consistently gives me something to chew on with his monthly letter. How he comes up with all those quotes (usually from sources I have never read but should have) amazes me. He has a unique view of the markets as he run Collateralized Debt Obligation funds and really understand the nitty-gritty of the bond and credit markets.

His work is subscription only, but he has graciously allowed me to use his latest piece as this week’s Outside the Box. For those interested in subscribing, you can go to his website at www.hcmmarketletter.com.

And if you haven’t already voted in the US, then do so. I am somewhat of a political junkie. My normal election night routine is stay up watching the various news channels, “Tivoing” what I am not watching so I can skip the commercials and watch at least three channels. Sadly, I will be getting on a plane Tuesday late afternoon to London so will not know what happens until I get to my hotel. Some quick news feed and then onto the office of Variant Perception where my co-author Jonathan Tepper and I will bury ourselves for four days finishing the book.

Your hoping the Rangers can pull it out analyst,

John Mauldin, Editor
Outside the Box

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Keynesian Confusion

By Michael E. Lewitt

“At the present moment people are unusually expectant of a more fundamental diagnosis; more particularly eager to receive it; eager to try it out, if it should be even plausible. But apart from this contemporary mood, the ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the word is ruled by little else. …

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