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An economy of rackets designed to enrich the few at the expense of the many is brittle because self-serving rackets snuff out competition, accountability and transparency.What’s remarkable about the lockdown isn’t the hue and cry about the economic dam…

Recall that the initial deaths and related costs are only the first-order effects; policy makers have to consider the second-order effects.Everyone who reckons that the lockdown is needless and more destructive than the pandemic that triggered it has t…

Recall that the initial deaths and related costs are only the first-order effects; policy makers have to consider the second-order effects.Everyone who reckons that the lockdown is needless and more destructive than the pandemic that triggered it has t…

Everyone with any position in today’s market will be able to say they lived through a real Bear Market.In the echo chamber of a Bull Market, there’s always a reason to get bullish: the consumer is spending, housing is strong, the Fed has our back,…

Everyone with any position in today’s market will be able to say they lived through a real Bear Market.In the echo chamber of a Bull Market, there’s always a reason to get bullish: the consumer is spending, housing is strong, the Fed has our back,…

So here’s an April Fools congrats to globalization’s many fools.The tradition here at Of Two Minds is to make use of April Fool’s Day for a bit of parody or satire, but I’m breaking with tradition and presenting something that is all too real…