Globalization and Minsky

by Michael Pettis Author’s note: About ten years ago I published an article in Foreign Policy that I just recently re-read. In the article I extended one of the arguments I made in my book, The Volatility Machine, that the globalization process is driven primarily by monetary expansion and the consequent increase in risk appetite. …

Contrarian Analysis for 2012. Part 1.

Could 2012 Surprise to the Upside? by Guest Author John Slater, Capital Matters In January we are trained to predict the likely course of the coming year and more often than not we get it wrong. This year virtually everyone has had the same prediction: “We’ll muddle along at around 2.5% growth unless something really …