A Misguided and Harmful View of Trade Deficits

Laurence Articles

President Trump, like many others along the political spectrum, has derided the persistent U.S. trade deficit – particularly with China – as a waste of capital leaving our country. The view that the U.S. would benefit by correcting this imbalance is taken up in a new book, with a message that should concern all financial market participants. Trade Wars are …

The Wile E. Coyote Economy

Laurence Articles

“U.S. GDP will contract 30% in second quarter,” blared an April 8 headline in Reuters Business News, apparently intended to sow as much panic as possible. In the Great Depression, real GDP shrank by about 27% from the 1929 top to the 1933 bottom, so the Reuters headline heralds what amounts to the worst news in American history, if it’s …

Current Myths and Long-Term Optimism

Laurence Articles

Capital Allocators Podcast is also available on Apple Podcasts, Spotify, Google Play, Stitcher, Overcast, or wherever you get your podcasts (RSS link). Lavish thanks to Ted Seides for organizing and conducting this interview. Please visit his web site at https://capitalallocators.com! The interview has been edited for clarity and readability.