My thoughts on the global economy after a week away

I'm back!

Last week, I was on a hiking trip out in Arizona to Havasu Falls in one of the Canyons abutting the Grand Canyon National Park. It was an amazing experience that I would recommend to anyone. And it will probably rank as one of my most cherished life memories. By the way, I thought I was in pretty good shape before I left. But I have to say, I came back on Friday and have been recuperating ever since.

So, in the week since I last wrote you, I've been pretty cut off from the world and am only now getting back into a workflow. I think that makes this a prime opportunity to reflect on where we are. And as I do that, unfortunately politics comes to mind more than economics. So I am going to talk a little bit about the political economy here (even though I vowed a few weeks ago not t...

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