Martin Hutchinson Blog | Talkmarkets | Page 1
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Martin O. Hutchinson is an investment banker with more than 25 years’ experience, Hutchinson has worked on both Wall Street and Fleet Street and is a leading expert on the international financial markets. At Creditanstalt-Bankverein, Hutchinson was a Senior Vice President in charge of the ... more

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Triumph Of The Naff
Lord & Taylor’s bankruptcy this week closely followed on that of Brooks Brothers.
Keynesian Beauty Contests Are Long-Term Losers
One of John Maynard Keynes’ favorite conceits, expressed in Chapter 12 of his 1936 “General Theory” was that selecting stocks was like a beauty contest in which you selected the six most attractive faces from a panel of 100 photographs.
Time For Austerity All Round
Governments all over the world have in the last four months indulged in a blowout of spending, financed by central banks’ monetary stimulus and zero or negative interest rates.
Holy Roman Empire Example Should Deter Governments
The Holy Roman Empire was a pioneer in banking through the Fuggers, it had adequate constitutional protections for at least the middle classes, and it benefited from fabulous German engineering talent, so why didn’t it get the Industrial Revolution?
The Long-Term Effects Of Covid-19
Four months after the Chinese-origin coronavirus impinged in a big way on our lives, it is finally becoming clear that it is not going away, and that the world will have to take account of it and its future cousins for many years to come.
Private Equity And Hedge Funds Are Bad Investments
An Oxford-Said Business School study this week demonstrated that private equity returns have not been higher than public equity returns over the lengthy period since 2006.
To Cure Inequality, Run The Economy Better
Ultra-low interest rates have also discouraged saving, by producing a proliferation of spurious investment products that lure savers to their destruction.
Knee-Jerk Government Actions Prolong Recessions
Governments and central banks worldwide have responded to the Covid-19 epidemic by massive doses of monetary and fiscal stimulus.
The Bear’s Lair: Government Should Give Up Its ESG Activities
The Business Roundtable last year made a stir by claiming that business should no longer maximize shareholder value, but instead respond to ESG (environmental, social and governance) concerns.
Will The U.S. Adopt Argie-Nomics?
The U.S. is currently projected to run a budget deficit of $3.8 trillion, about 19% of GDP, in the year to September 2020, according to the Congressional Budget Office.
Back To The Middle Ages!
2019 may have marked the all-time peak in real U.S. and global GDP per capita, although statisticians will doubtless fudge the figures to disguise the fact.
The World Needs Another Geddes Axe
The Geddes Axe, imposed in 1921-22 was a relatively successful attempt by Sir Eric Geddes to cut British public spending – it reduced military spending by 20%, for example.
The Bear’s Lair: Into A De-Globalized World
Now that the coronavirus has caused everybody else to leap onto this bandwagon, it is worth examining what the new de-globalized world might look like. While it has its downsides, it is overall not an unattractive prospect.
Time To Ban Stock Repurchases
Boeing and the airlines are currently in negotiations with the Trump administration for a bailout, with taxpayers expected to replace capital that those companies had previously eliminated through stock buybacks.
Götter-Boomer-Rung
The Baby Boomers had it very good for a very long time.
Cromwell, Keynes And The Industrial Revolution
The English Civil War was overwhelmingly important constitutionally, but it also marked a watershed in the country’s economic policy.
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