Balancing the other-worldly success of a few in contrast with the challenges many still face is one of the thornier dilemmas of a post-COVID-19 world where those gaps have grown ever wider.
Read moreCapitalism Doesn’t Have to Be This Way
The capitalism that has become dominant in the years since the 1980s is not about enough; it’s about more, and no amount of more is ever enough.
Read moreThe Capitalist Culture That Built America
The firm that he founded would evolve into one of America’s most important investment banks, Brown Brothers Harriman, which is still in business today.
Read moreWhy You Should Be Wary of Claims That the Stock Market Is in a Bubble
Almost exactly a year ago at this time, I warned that markets were due for a sharp correction and that the emergence of COVID-19 was more than a valid reason.
Read moreWhat Can We Expect After the Pandemic?
Zachary Karabell reviews four books that focus on what we should expect after the pandemic: The Corona Crash, Life After Covid-19, Post-Corona, and The New Great Depression.
Read moreNo Matter How Dire the Coronavirus Threat, Fear Is Not the Way Out
And he would recognize in the United States today something very similar to early 1933, that in the throes of a viral pandemic, we are mired in a psychological one as well: we are in the grip of fear, and it is paralyzing us.
Read moreZachary Karabell Discusses Flaws of Relying On Leading Economic Indicators
Zachary Karabell recently appeared on The Stu Taylor Show to discuss his new book, The Leading Indicators: A Short History of the Numbers That Rule Our World. The author of 11 previous books, Karabell has written for Reuters and The Atlantic, and regularly provides commentary on CNBC and MSNBC. A successful money manager, Karabell is the Head of Global Strategy at Envestnet, and the President or River Twice Research and River Twice Capital.
Read moreDon’t Trust the Economic Numbers That Govern Our World
Every week we’re bombarded by numbers about GDP or consumer confidence or some other leading indicator about our economic health and prosperity. Enough, says Zachary Karabell, these numbers don’t accurately reflect our world.
Read moreThe Youth Unemployment Crisis Might Not Be a Crisis
There’s no doubting that worldwide, kids are out of work. In the United States alone, the unemployment rate for 15 to 24-year-olds is about 16 percent, nearly twice the national average. In parts of Europe, the figures are much worse, with a whopping 56 percent youth unemployment rate in Spain alone — representing about 900,000 people. But do these high numbers represent a global labor market crisis that imperils future growth, as the headlines warn? Maybe not. Maybe instead, they’re evidence of a generation of college graduates determined not to settle, which bodes well for our future.
Read moreHow Conspiracy Theorists Are Steering Us Toward the Fiscal Cliff
Consumers are feeling optimistic; sales are up; employment hasn't much improved but neither is it getting worse; Washington is as dysfunctional as ever; and housing is showing significant life. Not the best of times, by any means, but not the worst.
Read moreCheers to Ben Bernanke & Central Bankers
The Fed will keep interest rates low for several years and aggressively buy up bonds, Ben Bernanke announced today. When will elected officials catch up to the unsung heroics of central bankers?
Read moreWE ARE NOT IN A GREAT DEPRESSION
It has now been firmly established—and endlessly repeated—that the world is mired in the worst financial crisis since the Great Depression. In the past weeks alone, there have been headlines announcing the "worst industrial production numbers since World War II" and the greatest contraction of prices since the middle of last century.
Read moreThe Economic News Isn't All Bleak
The recent economic news has been dismal, and it's now almost universally assumed things will get worse before they get better. Conventional wisdom also dictates that this recession will be longer, deeper and cause more long-term pain than any financial crisis since the Great Depression.
Read moreFear Itself
As of today, the global financial system is gripped by panic. In the past two weeks since the bankruptcy of Lehman Brothers, the fear and chaos have accelerated dramatically, and the failure of Congress to pass its proposed $700 bailout bill on Monday unleashed a new wave of panic. That is the situation we find ourselves in now, with safe havens almost non-existent save for those betting against the market completely, or who have retreated to cash. Relief rallies notwithstanding, this is a market in the grip of animal spirits, and the stampede is heading for the exits.
Read moreTHE GLOBAL FINANCIAL CRISIS
You've heard the story. On the heels of tumbling shares and dire warnings from the U.S. president, as well as business and government officials across the globe, the British prime minister says, "The world economy is facing its greatest risk in decades." To halt the slide, he calls for a global response to prevent the crisis from spiraling out of control.
Read moreWall Street Chaos Won't Tank Main Street
In the space of ten days, the U.S. government took over two mortgage-bond behemoths, Fannie Mae and Freddie Mac, and assumed de facto control of one of the world's largest insurance companies, AIG. But is this worthy of all the panic?
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