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October 28, 2014 Region VII, Chile The Treasurer of Australia (equivalent to the Secretary of the Treasury in the US, or Finance Minister in most European countries) has made a stunning admission. Joe Hockey stated that the policy of ultra-low interest rates hasn’t spurred economic growth; instead it has mainly
October 27, 2014 Region VII, Chile This morning some of the biggest financial news of the year made huge waves all over Asia. Yet in the Western press, this hugely important information has barely even been mentioned. (CNBC.com, for example, has yet to report on this story as of 11:45am
October 27, 2014 London, England [Editor’s note: Tim Price, London-based wealth manager, is filling in for Simon today.] Shortly before leaving the Fed this year, Ben Bernanke rather pompously declared that Quantitative Easing “works in practice, but it doesn’t work in theory.” There is, of course, no counter-factual. We’ll never
October 23, 2014 Santiago, Chile When I was growing up, my father was able to support his family of four on a single income. And when he was growing up, his father could do the same. This sort of security simply doesn’t exist anymore. These days, it typically takes two
October 22, 2014 Santiago, Chile The US government’s debt is getting close to reaching another round number—$18 trillion. It currently stands at more than $17.9 trillion. But what does that really mean? It’s such an abstract number that it’s hard to imagine it. Can you genuinely understand it beyond just
October 21, 2014 Santiago, Chile I walked in the door this morning to my apartment in Santiago, happy to be back in Chile after a week away. (One of the things that I really love about this place is the weather. The weather forecast in the entire central region of
October 17, 2014 New York, USA At present, US dollar accounts for roughly 61% of the world’s foreign exchange reserves. It’s still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it. Between those with reserves in
October 16, 2014 New York, USA For a casual observer of the US economy (most “experts”), you could say that things look pretty good. Unemployment is at its lowest rate in six years. Earnings of S&P 500 companies are higher than ever, while their debt is lower than it’s been
October 15, 2014 En route to New York “John Galt is Prometheus who changed his mind. After centuries of being torn by vultures in payment for having brought to men the fire of the gods, he broke his chains—and he withdrew his fire—until the day when men withdraw their vultures.” Sick
October 15, 2014 En route to New York True story. One of our Sovereign Confidential members just received a package from HSBC giving him and his wife a deadline to comply with FATCA—US’ global tax law. As Canadians they’d long felt bad for Americans having to deal with the overbearing
October 15, 2014 En route to New York [Editor’s note: This is the third piece in our series covering exciting startup locations in thriving markets around the world. See also, Medellín, Colombia, and Vilnius, Lithuania.] A strong community of other entrepreneurs and mentors makes all the difference for a young
October 14, 2014 Buenos Aires, Argentina In the pantheon of utter political stupidity in our time, the competition is pretty fierce to see who ranks #1. But I have to imagine that, even with so many rivals, Argentina’s Cristina Fernandez de Kirchner makes a pretty compelling argument to be the
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