A Journal of Independent Research, Analysis, Opinion and Insight
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02 19 21 WOWS FULL ISSUE An Alternative Way To View Or Print The Entire Current Issue As A Single Document 2/19/21 Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
I checked in with Harding Loevner’s Simon Hallett recently, something I hadn’t done in any depth since I interviewed the then-CIO of the institutional investment manager in these pages back in the spring of 2016. Much has changed. After sharing the CIO role for five years with colleague Ferrill Roll, Simon took the firm’s Vice Chairmanship, and left the CIO headaches to Ferrill — though he’s still standing by, in an advisory role, while tending to external interests. The highly successful boutique institutional investment firm’s — and is own.
By Arthur Kroeber In the early stages of the Covid pandemic, I wrote that the biggest analytic problem was high uncertainty across several dimensions (see Six Degrees Of Uncertainty). A year later, despite volumes of new information and the lightning creation of vaccines promising a path out of the pandemic, uncertainty remains.
By Vincent Tsui Across Europe and the US, car plants are getting shuttered and workers are being furloughed, not because of Covid-19 but because of a shortage of microchips from Asia. This storm is centered on Taiwan, which for decades has been an unsung contract supplier of electronics and chemicals.
By Jerome H Powell Today I will discuss the state of our labor market, from the recent past to the present and then over the longer term. A strong labor market that is sustained for an extended period can deliver substantial economic and social benefits, including higher employment and income levels, improved and expanded job opportunities, narrower economic disparities, and healing of the entrenched damage inflicted by past recessions on individuals’ economic and personal well-being.
MMT In Japan? Generally, The Nation’s Policies Are The Polar Opposite 2/19/21 4:00 AM By L Randall Wray and Yeva Nersisyan Modern Money Theory (MMT) economists have used Japan as an example of a country that demonstrates that high deficits and debt do not lead to insolvency, high interest rates, or inflation. [More]
By Tiffany N Ford, Jennifer M Silva, Morgan Welch, and Isabel V Sawhill In the last few decades, middle-class wages, especially for men, have stagnated, and the middle class has experienced slower income growth than the bottom and top quintiles.? If not for women’s increased economic contributions, middle class incomes would not have risen at all.
Acute Observations, February 19, 2021 Perceptive Commentary from January 29-February 19, 2021 2/19/21 8:00 AM Philip Stephens The abiding sin threaded through it all was that of certitude. Perfectly plausible but untested theories, whether about the money supply, fiscal balances and debt levels, or market risk, were elevated to the level of irrefutable facts. Economics, essentially a faith-based discipline, represented itself as a hard science. [More]
