How rising wealth inequality, leading to dramatic growth in institutional cash pools, has led to an unbalanced and unstable economy.
How the rise in wealth inequality means that households now borrow from businesses, not the other way around.
Where do institutional cash pools come from, and why does it matter?
A summary of Zoltan Pozsar’s work, showing how a tidal wave of wealth has gathered in institutional cash pools unnoticed by economists.
A brief look at the huge shift of wealth to the richest in society in the last 40 years, and what lies beneath this.
This is the first anniversary of the blog, and as it happens I’ve just finished 3 months of posts on one subject and am about…
A summary of this section of the blog.
A forensic examination of a stylised company’s balance sheet, to show that business saving should, in fact, be the true source of investment.
An explanation of the “Efficient Market Hypothesis” – the belief that markets will always price financial assets correctly.
How everything in the blog so far explains the fall in productivity in recent years.