Surplus: The History of Too Much and the End of Economic Primacy north Surplus: The History of Too Much and the End of Economic Primacy The Puzzle The United States carries more than $40.5 trillion of debt. Neither party has the appetite to address it. Yet adjusted for inflation, real interest rates remain subdued. While nominal yields are near multi-decade [...]
Designing for sovereignty: Ethereum for digital public infrastructure north Public services increasingly rely on digital systems that enable institutions to collaborate across organizational and national boundaries. Such cooperation may involve government agencies verifying documents issued by other authorities, or humanitarian organizations coordinating assistance [...]
What a Difference the Weekend Made north What a difference the weekend made. There is a resilience today that was not seen at the end of last week. Questions over the Ai-meme, which drove the semiconductor index down 7.2%, have eased today, despite S&P cutting Meta’s rating outlook at the end of last week. Last week, France escaped a [...]
November 2026 Monthly north The EU and China understanding was one of the highlights of October, but the China shock rolls on. The economic disruption from China's export drive continues. Even as the Chinese yuan gradually appreciates, the price competitiveness of many Chinese goods appears to be increasing. Nor is the [...]
Greenback Dragged Lower by Questions of the AI Meme north The US dollar is finishing the week offered. The proximate cause is the arguably softer rates and the as a result of new questions about the AI-meme, following the disappointing Amazon and Intel earnings news and guidance yesterday. This followed the robust Q3 US GDP report that underscore the [...]