Category Archives: Uncategorized

Axios Capital: The highest bidder wins

Auctions make the world better

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Axios Capital: Theatre of the absurd

The fideist slogan credo quia absurdum (“I believe because it is absurd”) is the best way to make sense of the Trump administration.

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Axios Capital: When society faces the unprecedented

Our febrile world is not normal.

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Axios Capital: America’s rebound

It’s the rebound economists didn’t see coming.

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Axios Capital: Left out of the country

America’s cities are facing a historic shortage of two vital resources: money and immigrants.

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Axios Capital: When stocks become ironic

There have been moments of market euphoria in the past, moments when stocks stop being a serious mechanism for the allocation of scarce capital, and start being a fun, positive-sum casino.  There have also been moments of national crisis, with tens of … Continue reading

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Dice thoughts

A few weeks ago, while I was going for a walk in the woods, I came up with a thought experiment. Later, I tweeted it out, and later still, I asked the listeners of Slate Money to write in with … Continue reading

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Axios Capital: A brand-new Fed

Today is a truly historic day in Fed history — one that will have a transformative effect on U.S. monetary policy for the foreseeable future.

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Axios Capital: The government’s cash crunch

The age of ever-growing deficits has devastated one group of government entities in particular — the ones that have historically been self-sufficient, funding themselves directly from their own revenues.

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Axios Capital: Humility at scale

Philanthropy is rarely associated with humility.

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Axios Edge: Only one car company matters

Tesla is the company of the moment — the prime exemplar of just about any big and important trend that you might care about.

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Axios Edge: A new hegemon

All multinational companies and executives need to worry about breaking U.S. law, no matter where they’re based or doing business. Now, they need to worry about Chinese law, too.

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Axios Edge: Swimming in cash

There’s plenty of money. It’s just not moving to where it’s needed. (New jobs, in case you were wondering.)

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Axios Edge: The amorality of finance

The disconnect between economic and moral imperatives lies at the heart of the biggest issues facing America today, from the rising appeal of socialism to the question of how to deal with the coronavirus outbreak.

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The meta-crisis

America’s institutions are failing. They no longer command the respect they need to be effective.

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Axios Edge: Explaining the markets’ insouciance

There is no particular reason why America’s move toward authoritarianism should hurt the markets.

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Axios Edge: Fancy a bet?

Never has the stock market seen so much gambling. 

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Axios Edge: How insurers dodged the crisis

It’s hardly original to point out that the rich have been able to survive this crisis much more easily than the poor — but it still bears repeating. 

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Axios Edge: Saying no to free money

Even when businesses are legally entitled to bailout funds, they will often avoid taking that money when faced with political or popular opprobrium.

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Axios Edge: The crash diet

Regional food is a kind of language. It can die of neglect. Or, it turns out, of COVID-19.

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Axios Edge: Rewriting the rules of finance

A crisis is a terrible thing to waste. The coronavirus crisis is a dress rehearsal for the climate crisis: It will help show us not only what is possible, but also, crucially, whether or not those actions work.

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Axios Edge: America’s other coronavirus superhero

Move over, Anthony Fauci. Fed chair Jay Powell has come into his own in recent weeks, acting with uncommon and entirely unexpected speed and boldness.

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Axios Edge: The arrears economy

Just when you thought the Fed might be out of ammunition, out it comes with another $2.3 trillion from its “super bazooka.”

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Axios Edge: Is there an “on” switch?

What happens after a war? Two weeks ago, I asked that question and came away cautiously optimistic about America’s ability to bounce back from its current crisis. Now, I’m not so sure.

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Axios Edge: The arena of the unwell

The greatest decade in the history of mankind is over. (Well, the greatest bull market, anyway.) The old order changeth, yielding place to new.

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