• April 24, 2020

Viral Thoughts

We are looking at a world with parameters bounded by pure imagination; where we go from here is anyone's guess.

—Will Thomson and Chip Russell, Massif Capital

• April 17, 2020

Repricing the World

The viral fog is starting to thin. US coronavirus case growth appears to be slowing, albeit at a tragically high level. Governments and businesses are thinking about the next stage.

• April 10, 2020

Bending the Inflation Curve

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth.”

—Milton Friedman, The Counter-Revolution in Monetary Theory (1970)

• April 3, 2020

Notes from Lockdown

In times of change learners inherit the earth; while the learned find themselves beautifully equipped to deal with a world that no longer exists.

—Eric Hoffer