Mar 31, 20226 points about climate and my doubt about the narrativeI am going to say a VERY unpopular thing and you can go ahead and educate me, with REAL science and facts. Because what I will say is actually based on reading the ORIGINAL PAPERS. The academic stuff, the data, etc. Not the media-boosted versions. Here it goes: 1) Climate…Economics3 min readEconomics3 min read
Mar 6, 2022Putin Changed the Inflation Outlook DramaticallyPutin’s decision to go with a full-scale invasion of Ukraine has many dramatic consequences that go far beyond inflation and interest rates. …Economics5 min readEconomics5 min read
Feb 27, 2022Democracy and Freedom in Canada and the Rest of the WorldAs a Canadian-born citizen living in Montreal, Quebec, I am incredibly privileged. I was born in a small rural town in Northern Quebec in the 1970s. The benefits of living in Canada are so vast that we seem to fail to see them, much less fully appreciate them for their…Democracy7 min readDemocracy7 min read
Mar 28, 2021Is There a Government Debt Problem NOW With Biden Spending?For an entire society or indeed for any corporation, a “productive debt” can be loosely defined as a debt that brings in more future purchasing power than what you borrow. Lets suppose you lend me 1000$. For arguments sake, lets suppose the “basket of goods and services” that I consume…Economics5 min readEconomics5 min read
Mar 10, 2021Biden’s stimulus plan, inflation, and interest rates for 2021–2022It’s a hell of a balancing act and I admire the boldness of this initiative, as well as the general boldness of the Biden Team. I admit I am a fan. But there are things to know and risks to grasp, especially for people with funds in financial markets. At…Finance9 min readFinance9 min read
Mar 5, 2021Central Banks vs Bond MarketsBond yields are rising swiftly after hitting rock bottom about 6 months ago. Although yields are still now very low compared to the past 10 years, the rapid change in yields is disruptive to all markets and could disrupt housing as well. …Finance9 min readFinance9 min read
Dec 17, 2020Growth, fossil fuels, and “green” energyIs there a “limit to growth” as exposed in the Meadows Report? Our global system works on “growth” of production to generate employment and income, which takes several forms: wages, incomes for enterpreneurs and stock holders, capital gains, rent and interest income, which themselves finance State income (taxes!) and other…Climate Change17 min readClimate Change17 min read
Aug 27, 2020Why are interest rates so low and are stocks overpriced?Interest rates are at long term historical lows and stock pricing is historically high, based on various metrics. Why and what is likely to happen? Asset prices and “yields” go in opposite directions It is important to start with the basics: asset prices and “interest rates” go in opposite directions…Economics6 min readEconomics6 min read
Apr 8, 2020How Much Government Debt is Too Much?The “virus recession” and the policy response to it is going to bring record deficits in dollar terms AND near-record levels in % of GDP as well. For many countries, this comes on top of an already-high government debt. Many people seem to wonder if there is some magic and…Finance7 min readFinance7 min read
Mar 28, 2020Markets for 2020 and BeyondAs I wrote in my last few posts, the impact of “the virus recession” is likely to be brutal and huge, BUT short-lived. This is because the “fundamentals” were generally fine before the recession started and are likely to be generally fine once it is over. …Finance4 min readFinance4 min read
