March Madness

Two months ago we wrote in our monthly letter that we anticipated social unrest will ripple through Europe as fiscal retrenchment is imposed across a number of eurozone nations. We were not kidding – it is said civilization has a thin veneer, and we do not offer such warnings lightly. These are matters of some gravity.

Coherently Confronting US Macro Challenges

Many investors, policy makers, and economists find themselves unnerved by current economic conditions, and reasonably so. Depression or recovery, deflation or run away inflation, private or public insolvency – debates rage on all fronts. The disarray reflects in part the uncharted waters the global economy has sailed into over the past year, but it also […]