Juggling Dynamite

Economist and author Thomas Piketty has a new book coming out in March called Capital and Ideology.  His research on economic and social history is detailed and thought-provoking.  A print interview with Piketty ran in NewStatesman here  “Thomas Piketty:  There will be another economic crash”.

Whatever one’s personal politics, historical context is critical in understanding where we are today and where policies are likely to head next. Present financial and social conditions are extreme and that is what makes them inherently unstable and susceptible to dramatic change as pendulums swing back.

Piketty’s recent radio podcast with Stephanie Flanders on the history of how financial inequality has widened and contracted through different historical chapters, movements and policies in different countries, is worth a listen.

Thomas Piketty on how Sanders and Warren’s policies are not ‘extreme’ in the history of America and other democracies. https://t.co/d6RUCTdz8A

— Danielle Park (@kdaniellepark) February 13, 2020

Prudent risk managers have long since left the burning building.  Those still in stocks are either risk-blind, reckless or planning to hold always even as capital evaporates.  Most will liquidate after large losses when cash is short and redemption requests soar.

Financial Post’s Larysa Harapyn speaks to Rosenberg Research chief economist David Rosenberg about what happens when you combine one of the weakest economic cycles of all time with one of the most powerful bull markets. Here is a direct video link.

How is climate change effecting the world’s food system? Climate models show crop production will decline every decade due to drought, heat, and flooding. And some of our tastiest foods may be in peril – including cherries, coffee, cacao, wine grapes, and citrus fruit. The Agenda looks at the future of food in a warming world and how the food chain needs to adapt. Here is a direct video link.