Thoughts From the Frontline, April 2020

Viral Thoughts

April 24, 2020

We are looking at a world with parameters bounded by pure imagination; where we go from here is anyone's guess.

—Will Thomson and Chip Russell, Massif Capital

Repricing the World

April 17, 2020

The viral fog is starting to thin. US coronavirus case growth appears to be slowing, albeit at a tragically high level. Governments and businesses are thinking about the next stage.

Bending the Inflation Curve

April 10, 2020

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth.”

—Milton Friedman, The Counter-Revolution in Monetary Theory (1970)

Notes from Lockdown

April 3, 2020

In times of change learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists.

—Eric Hoffer