Money, Power & Policy: Navigating the Economy
The United States dollar is uniquely positioned as the world’s most dominant currency. It serves as the global reserve currency, meaning it is held in large quantities by central banks and financial institutions and...
A strange luxury is alive in wealthy democracies: the liberty to dabble in terrible ideas and rarely have to pay the complete tab. Lets call this “The Western Privilege of Terrible Economics”. From fashionable...
The international trading system is broken. Through years of asymmetric globalization, the U.S. has seen the rise of global rivals and domestic economic stagnation. Over the past 20 years, America has transferred over $20...
Global hegemony requires no army when every transaction is priced in your currency. The United States understood this early. While many empires secured obedience through conquest, modern America has done so through a far...
While much of the world is alarmed by the rapid disappearance of Arctic ice and the loss of entire biomes, others view the melting polar caps as a tantalizing opportunity. As climate change accelerates,...
As an observer of one of the most significant financial confrontations of this decade, I’ve often questioned why China has not simply liquidated its substantial holdings of U.S. Treasury bonds. After all, it is...