MarketWatch (August 26)
“Wall Street is more focused on Nvidia than on threats to Fed independence. That may be a big mistake.” The “muted reaction to Trump’s attempt to fire Fed’s Lisa Cook indicates markets are ‘not properly priced’ for a rupture in the monetary-policy process.”
Tags: Attempt, Cook, Fed independence, Fire, Markets, Mistake, Muted reaction, Nvidia, Properly priced, Rupture, Threats, Trump, Wall Street
Wall Street Journal (April 21)
“If the White House wanted a test of how firing Jerome Powell would go over in the markets, it succeeded on Monday. U.S. stocks and the dollar plunged while yields on long-term Treasurys climbed after President Trump renewed his attacks on the Federal Reserve Chairman.” The President “thinks he can bully everyone into submission, but he can’t bully Adam Smith, who deals in reality. Markets know tariffs are taxes, and taxes are anti-growth.” It is clear that the “Trump tariffs are the biggest economic policy mistake in decades.” What remains unclear is the President’s ability to see reality. “Markets are spooked because they don’t know if Mr. Trump listens to anyone but his own impulses.”
Tags: Adam Smith, Anti-growth, Attacks, Bully, Dollar, Fed, Firing, Markets, Mistake, Plunged, Powell, Reality, Spooked, Stocks, Submission, Tariffs, Taxes, Treasurys, Trump, U.S., White House, Yields
The Atlantic (July 21)
“Crucial systems across the world collapsed on Friday, triggered by one mistake in a single company…. It may end up being the worst information-technology disaster in history. This was not, however, an unforeseeable freak accident, nor will it be the last of its kind” unless we prioritize “decentralized resilience” over “hyperconnected optimization.”
Tags: Collapsed, Crucial, Decentralized resilience, Freak accident, hyperconnected optimization, IT disaster, Mistake, Systems, Triggered, Unforeseeable, Worst
Wall Street Journal (June 20)
“The world’s central banks underestimated inflation last year. They are trying not to make the same mistake twice.” But they are “in a tricky spot. They need to decide if inflation has stalled way above their 2% target, which could require much higher interest rates to fix, or if inflation’s decline is only delayed. Get the call wrong, and they could push the rich world into a deep recession or force it to endure years of high inflation.”
Tags: 2% target, Central banks, Deep recession, Delayed, Inflation, Interest rates, Mistake, Rich world, Stalled, Tricky spot, Underestimated
The Guardian (February 5)
“It is finally dawning on more and more people that leaving the EU was a colossal mistake.” Brexit has led to “supply chain disruptions, staffing shortages, higher food prices and extra red tape for business. Public opinion is shifting towards remorse. Instead of hurtling away from the EU into the swaggering prosperity promised by the Leave campaign, Britain is instead receding into a dark timeline of recession, strikes, and political instability. Last week, it was forecast that Britain will be the only G7 economy to shrink in 2023.”
Tags: Brexit, Disruptions, EU, Food prices, G7 economy, Mistake, Political instability, Public opinion, Recession, Red tape, Remorse, Shortages, Shrink, Staffing, Strikes, Supply chain
Forbes (September 20)
“Britain’s non-binding resolution, to leave the EU (aka Brexit) is moving forward because one weak-willed and weak-minded politician, U.K. Prime Minister Teresa May, is treating the 2016 opinion poll as legally binding. It wasn’t and isn’t.” It is time for the Prime Minister to “exit Brexit” and “reverse the U.K.’s mistake.”
Tags: Britain, EU, Exit Brexit, May, Mistake, Non-binding resolution, Reverse, U.K.
Bloomberg (July 15)
“By this point you can probably agree that it was a mistake for Greece to join the European common currency in 2001…. So why exactly are Greece and its European creditors still trying against all odds and good sense to keep the country in the euro?”
