The GameStop price action is nothing short of revolutionary. But revolutions have a way of burning themselves out and leaving people disillusioned and miserable. Without guiding principles and leaders of character, high ideals are overridden by an enthusiasm for punishment and retribution.
I’m one of many sitting on the sidelines…
Ask an economist what the biggest questions are in the world today and you might be surprised by the answer. At a time when the pandemic has captured the full attention of experts, some have managed to remain aloof from these immediate concerns. …
There’s a kind of wisdom in herd behavior. When you see a large group of people fleeing in panic from some unseen threat, you could hang around and find out what all the fuss is about, or you could join them in their frenzied evacuation. The safest option is likely…
If there was a way of thinking that encapsulated the foundation of the United States it was that the American people were destined for greatness yet had still to prove themselves worthy of it. …
For years central banks have shown nothing more than a passing interest in digital currencies. If the topic was raised, it was usually to remind us that crypto currencies and other private digital money providers would have a hard time competing with the government. …
The Australian federal budget is long-awaited, not just because we finally get a glimpse of the immediate fiscal cost of the pandemic but because we now have a clear articulation of the government’s assumptions about how the pandemic will evolve and what the recovery will look like.
Last month a very interesting tidbit was released by the U.S. Federal Reserve. It shows, remarkably, that households, businesses, and governments are the wealthiest they have ever been, both in nominal and real terms. The release covers the June quarter, which includes much of the economic fallout from the nation-wide…
It is a strange thing to hear economists talk of ‘animal spirits’ who themselves appear to be animated by little more than elaborate, closed-off theories. There are more than enough economists who claim some insight into how economies operate without ever gaining first-hand experience of the market. Exposure to the…
Given the hype surrounding America’s brave new carmaker, it’s hardly surprising that many of us struggle to buy into the vision, let alone the stock. Even after coming off its most recent all-time high, the valuation is simply too risky, and the road is littered with broken promises. …
I never thought I’d say this, but the death of the mall feels like one of the great social tragedies of our time. We often hear of the death of churches, trade unions, community centers, libraries, clubs, and other associations that for centuries have been part of our social and…
Writer and analyst based in Melbourne, Australia. Investing, markets, politics, history of economic thought. More at: https://www.gordontoy.com/
