Matthew C. Klein

My former colleague John Authers has an excellent piece showing how this could have been expressed in a hypothetical long-short equity portfolio.

Several good points here from @adam_tooze, curious to see how the rest of the series evolves: [link] (But I disagree w/ claim that *no* historical analogy is relevant for understanding today's China. Just need to find the right ones and appreciate the nuances!)

Very good thread, but this is the key point

Excellent analysis from @johnauthers on the cross-country dynamics linking credit spreads, inflation, and household balance sheets:

One day there will be an article that explains exactly what happened to Jeff Sachs, but in the meantime this interview provides a good sense of what he's like now:

Phenomenal thread from Brad, do read the whole thing on the disconnect between rhetoric and reality when it comes to trade openness

This is an incredible article, really recommend reading the whole thing:

"business sources of funds from profits and credit have rolled over and turned negative. As you would expect, when this happens, they cut back first on buybacks and M&A, then on capex, and last of all hiring" [link] <-- good read, ht @dampedspring (link fixed)

Another excellent analysis from @_brianpotter on the mystery of falling productivity in construction:

Interesting new paper from @i_aldasoro and friends on differences in lending by banks and non-banks during crises:

Thoughtful piece from @mtkonczal on the relationships between labor market dynamism, wage growth, and inflation:

Worth reading @GeneralTheorist on the links between money, balance sheets, spending, income, and inflation: