World economy

culture of billionaires

Trump vs. Buffett: The Two Sides of Billionaire Culture

This year may be remembered as either the beginning or the end of the golden age of billionaires. One has miraculously become president of the United States. According to Oxfam, the eight richest billionaires in the world hold as much wealth as the poorer half of humanity. One of those eight, Warren Buffett, has recently been canonized in a rather hagiographic HBO documentary that retraces Buffett’s career.



Rusia's economy recovery

Russia: It’s a tough nut (as well hard to reform)

Xavier Colás | Russia is hoping that in 2017 its economic indicators will look brighter again after three years of questions over the country’s economic health due to sanctions, rock-bottom oil prices and a rouble which has lost half of its value.


central banks

On the Political Nature of Monetary Policy

Francesco Saraceno | Munchau recently argued that central banks’ choices are increasingly political in nature, especially if their mandate is broad, as is the case for example of the Fed. His argument is that a broad mandate implies tradeoffs, and as such it does not go well with central bank independence.


crude oil

Crude Questions

The price-inventory apparent mismatch of crude oil matters to the extent that going long crude appears to be a crowded trade so that the risks are on the downside if it were to happen that the “confirmed” cuts have been more paper ones than real ones.


C

China Transformed: A New Balance of Power

John Bruton | The transformation of China is the most important global economic story of the past 40 years. It has changed the balance of power on the Eurasian landmass, in ways we are only beginning to comprehend.