good to know! But if we are in a new era -- if American Exceptionalism is over -- is that a geopolitical risk, or just a new framing?
It's tricky, because I think in our lifetimes, we haven't experienced an extended trade war. Our grandparents did, and they are not to be envied.
We do know that Bunga-Bunga economics lead to stagnation. We know that Banana Republic economics (where a Caudillo is motivated by personal animosities and crackpot theories) leads to impoverishment. But how geopolitical would it be to include this in a scenario?
Dear Joachim, so the changes in excess return - which are significant - represent the subsequent market recovery after initial sell-off on the increased newsflow/GPR?
good to know! But if we are in a new era -- if American Exceptionalism is over -- is that a geopolitical risk, or just a new framing?
It's tricky, because I think in our lifetimes, we haven't experienced an extended trade war. Our grandparents did, and they are not to be envied.
We do know that Bunga-Bunga economics lead to stagnation. We know that Banana Republic economics (where a Caudillo is motivated by personal animosities and crackpot theories) leads to impoverishment. But how geopolitical would it be to include this in a scenario?
I guess I need to read your book.
Dear Joachim, so the changes in excess return - which are significant - represent the subsequent market recovery after initial sell-off on the increased newsflow/GPR?
Yes, exactly.