The current situation in Puerto Rico cannot be fully understood without a bit of a history lesson.
All cultures have the challenge of balancing the past and the present. But nowhere is the contrast between the two more apparent than in the Middle East.
We would do well to heed the teaching of behavioralists as we craft solutions to some of today’s thorniest problems.
Countless articles have been written in the past 10 years predicting (or warning) of China’s imminent financial demise, with the number of articles accelerating in recent years amid China’s debt build-up in the post Global Financial Crisis period. Investing on the basis of a “China collapse” view of the world would likely have resulted in more risk-averse portfolios in the emerging debt space and, hence, lower returns in recent years.
The German phrase Sturm und Drang (literally: storm and stress) describes situations that become especially dramatic. This seems an apt expression to describe both the immediate past and the near future for the United States economy.
The eurozone has been the brightest star on this year’s economic horizon. The region’s output expanded at a 2.5% pace during the second quarter and has been rising continuously for 48 consecutive months.