I agree with Michael Pettis on one thing: ‘the US dollar’s role as the primary safe currency has made America the chief enabler of global economic distortions’. Pettis, however, seeks to frame this…| Synthetic Assets
Many have remarked that the rampage of the so-called DOGE and Elon Musk (whose position with DOGE has yet to be formally established as far as I am aware) through the inner workings of the US gover…| Synthetic Assets
The FT produced an interactive graphic last month exploring the many ways that banks are providing funding to the world of private equity, and asked the question: “could the private equity industry…| Synthetic Assets
The fundamental problem that economics should seek to solve is what I will call the primary liquidity problem: An individual, S, has a good that she wants to sell There exists a buyer, XH, with the…| Synthetic Assets
There’s been a vast discussion of Silicon Valley Bank and it’s failure over the past week. It has been of extremely high quality, and I owe great thanks to all those who have both produ…| Synthetic Assets
In general, I read Michael Pettis, Brad Setser and Matthew Klein and am amazed by what I learn. They are experts in the best sense of the word: inquisitive, open to argument and very effective at p…| Synthetic Assets