DEBT: The Economic Challenge for the Next President
Oct 2016 Issue
Shortly after winning the 1992 presidential election, some commentators said that the problems facing the country were so large that Bill Clinton might end up wishing he had lost. At the time, the US was facing a budget deficit of $450 billion which was about 4.5% of GDP and an…
Read moreThe Limits of Economic Experimentation
Oct 2016 Issue
Pacifica Partners Spring 2016 Quarterly Commentary: This quarter’s newsletter gets its title from the growing global trend towards the acceptance of negative interest rates as a component of mainstream economic policy. Negative interest rate policy (NIRP) is increasingly being seen as an act of economic desperation by the markets. Currently,…
Read moreTaking an Inventory of Investor Worries
Oct 2016 Issue
The Pacifica Partners Winter 2016 Quarterly Commentary: Most years, financial markets tend to rally in the month of December. As the 2015 holiday season wound down, investors found that Santa had deprived them of their traditional yearend rally. Instead of a rally, investors were left showered with volatility to close…
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