Tag Archives: politics

In-depth analysis on Credit Writedowns Pro. The Absolute Return Letter, July 2015 “In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” Mark Zuckerberg Greece on the brink A Greek, an Irishman and a Portuguese walk into a bar and order a drink. Who picks up the tab? A German . . . Months (years!) of upheaval in Greece have taught me one important lesson. Don’t take anything for granted in politics. The referendum scheduled for...

This, I would argue, is one of the scariest charts in the world today. The green line is output per hour worked, and the dotted green line is the pre-crisis trend: It’s what the Bank of England calls the “UK productivity puzzle.” As the BBC’s Linda Yueh notes: “output per hour is around 16 percentage points lower than it should be if productivity had grown at its pre-crisis pace.” I don’t think it should be called a “productivity puzzle”. That would imply that we don’t really understand the...