This Time Is Different
Things were strangely similar back in 2000: declining interest rates, the Taxpayer Relief Act of 1997, a supportive FED and the Telecommunications Act of 1996 helped boost investor optimism and drove technology stocks to unbearable valuations.
Related reading
Sovereign Pivot
The conventional framing of global economic power tends to focus on trade balances and manufacturing output. This perspective misses a more consequential asymmetry.
Structural Divergence in Global Creditor Nations
A significant shift occurred in global capital markets: Germany surpassed Japan as the world’s largest net creditor nation.
2008... But Bigger
The grand European project, born from the ashes of war, was built on a promise of shared prosperity and cradle-to-grave security.
Debt Crisis 2.0.
The stability framework designed to protect the Eurozone is facing a challenge it was never truly built for: a crisis of fiscal credibility within its core.