https://www.economist.com/buttonwoods-notebook Analysis of the ever-changing financial markets (Wall Street trades used to take place under a Buttonwood tree) Fri, 30 Oct 2009 19:19:27 +0000 https://www.economist.com/buttonwoods-notebook/2018/05/08/so-long-farewell Three worries and three signs of hope in the final blog post /content/uvl4iv95bafn8c6l8umugkkad41g1u12 Tue, 08 May 2018 14:45:03 +0000 https://www.economist.com/buttonwoods-notebook/2018/05/01/the-flaws-of-finance The sector is essential to the economy. But it is rewarded too highly and imposes wider social costs. The penultimate in a series of farewell blogs /content/n6hr9hj9203bol4fojt2sa9ugv6j69k7 Tue, 01 May 2018 17:19:15 +0000 https://www.economist.com/buttonwoods-notebook/2018/04/27/hope-i-save-before-i-get-old Although we will probably spend 20 years or more in retirement, we don't think about it enough. The third in a series of farewell blogs /content/qkai8s2vptteaanb6sikgj0c53vgnvn1 Fri, 27 Apr 2018 14:44:33 +0000 https://www.economist.com/buttonwoods-notebook/2018/04/25/the-best-books-on-finance-and-economics A great book from the late Hans Rosling heads the list. The second in a series of farewell blogs /content/63o5eft06lisuviq4pe2844qro90eoqj Wed, 25 Apr 2018 15:45:50 +0000 https://www.economist.com/buttonwoods-notebook/2018/04/18/six-precepts-every-investor-should-remember The first in a farewell series of blogs /content/ef1lpg695av4t6bt04d5vbi1h6rgbg6p Wed, 18 Apr 2018 15:46:12 +0000 https://www.economist.com/buttonwoods-notebook/2018/04/11/the-smartphone-and-the-toilet Technological change has brought great benefits that aren't captured in GDP. That's not new /content/ng76437nhc56qi9of8r2j41hj4l68m9q Wed, 11 Apr 2018 11:26:20 +0000 https://www.economist.com/buttonwoods-notebook/2018/04/10/an-update-from-jeremy-grantham /content/bgvprnllbqegp93hg6n9jt35qs6e4o0d Tue, 10 Apr 2018 17:11:19 +0000 https://www.economist.com/buttonwoods-notebook/2018/04/09/a-plan-that-needs-more-money Topping up Social Security is a good idea but 3% contributions won't be enough /content/o6t8hq86llp5o5h8a0d19geo6rqbnvuh Mon, 09 Apr 2018 13:34:25 +0000 https://www.economist.com/buttonwoods-notebook/2018/03/28/we-have-seen-the-future-and-it-twerks Leadership may be divided into the entertainment figurehead and the policymaking experts /content/dld50l8rnom3dc8qfka9pqd18crf1b9r Wed, 28 Mar 2018 11:26:42 +0000 https://www.economist.com/buttonwoods-notebook/2018/03/23/markets-think-trade-war-is-good-for-absolutely-nothing It may turn out to be bluster but it makes the world riskier anyway /content/1js5gh5eb1jfkn3s70goj8opmvelqm92 Fri, 23 Mar 2018 13:44:13 +0000 https://www.economist.com/buttonwoods-notebook/2018/03/20/beware-of-performance-figures Most funds fail to beat the index. But a lot of funds say they have. There is a simple explanation /content/vthphdmp31e3h1fr7npot3gma54kla3h Tue, 20 Mar 2018 16:51:33 +0000 https://www.economist.com/buttonwoods-notebook/2018/03/07/the-real-problem-with-pensions The big problem with DC schemes is that contributions aren’t high enough /content/gf2dhg2kdnf0jvirj40hira32f0gvu00 Wed, 07 Mar 2018 17:47:13 +0000 https://www.economist.com/buttonwoods-notebook/2018/03/02/a-history-of-the-trump-slump How things might turn out /content/gf4s0jl055ln7elmpo2j8oif3cfrr95j Fri, 02 Mar 2018 10:40:57 +0000 https://www.economist.com/buttonwoods-notebook/2018/02/28/jerome-powells-game-of-kerplunk How many rate rises will be too many? /content/5gouqm458n0rfn5fbv36mgtdu46la0pl Wed, 28 Feb 2018 14:38:46 +0000 https://www.economist.com/buttonwoods-notebook/2018/02/23/snap-chatter-and-pop-goes-the-share-price Can celebrities move share prices? /content/qgl1ejeqjb70bv8l221tcfghot645mj9 Fri, 23 Feb 2018 11:01:11 +0000 https://www.economist.com/buttonwoods-notebook/2018/02/21/why-low-returns-are-inevitable When valuations are high, the maths points to lower returns /content/qci8qg04ivggjjvc8o314hvkdh31orvj Wed, 21 Feb 2018 15:32:55 +0000 https://www.economist.com/buttonwoods-notebook/2018/02/14/those-brexit-cliches-explained Can you have your cake and eat it in Singapore-on-Thames? All is revealed /content/9iv00uo8bh6ok4mrnuuh2jf7fl9vcsqg Wed, 14 Feb 2018 10:00:35 +0000 https://www.economist.com/buttonwoods-notebook/2018/02/09/financial-markets-abhor-an-equilibrium Both the stockmarket and economic cycles seem to have lengthened. They are tied together by credit /content/56dcr8nchf0nn5ih88iq45qoln7t154j Fri, 09 Feb 2018 15:44:20 +0000 https://www.economist.com/buttonwoods-notebook/2018/01/30/why-dont-foreign-investors-take-fright-more-often Currency moves can wipe out the returns from bond markets. But investors seem not to care /content/psogqrck3c67dsiqi5m9ndsg620n0hla Tue, 30 Jan 2018 12:42:10 +0000 https://www.economist.com/buttonwoods-notebook/2018/01/24/the-buck-drops-here It is unusual for a Treasury secretary to welcome a weak dollar but he doesn’t have much influence over it /content/1m12spu40rkrsnfbb5vghuhp26l0khfg Wed, 24 Jan 2018 11:49:21 +0000 https://www.economist.com/buttonwoods-notebook/2018/01/17/the-rise-and-fall-of-bitcoin Investors in bitcoin are learning some very old lessons /content/1id9705egnplv25sd7ouuaf6r2mmod50 Wed, 17 Jan 2018 15:54:43 +0000 https://www.economist.com/buttonwoods-notebook/2018/01/10/predicting-doom-for-the-bond-market A strong economy should mean bond yields head a bit (but not necessarily a lot) higher /content/ta23at0bvcfgp31f6kabhb3uc0n9kljr Wed, 10 Jan 2018 11:59:09 +0000 https://www.economist.com/buttonwoods-notebook/2018/01/05/where-did-the-inflation-go A surge in inflation, forcing central banks to tighten, would be a problem for markets. But it’s hard to spot in the developed world /content/ktcla9u61s8g09r67v4qfmebgg1hen39 Fri, 05 Jan 2018 15:05:51 +0000 https://www.economist.com/buttonwoods-notebook/2018/01/04/is-the-bubble-only-starting Jeremy Grantham is usually seen as a bear. But he has made a startling prediction /content/d7ujpnfa4bjkg9feg83o2ha4mmh4639n Thu, 04 Jan 2018 11:06:11 +0000 https://www.economist.com/buttonwoods-notebook/2017/12/18/what-2018-has-in-store-for-the-markets Investors are very optimistic. But two analysts think they may be ignoring a big risk /content/7c5u5pan6haso5kcoi32hoqrg1hlfpq2 Mon, 18 Dec 2017 10:59:06 +0000 https://www.economist.com/buttonwoods-notebook/2017/12/13/when-politicians-and-executives-get-caught-out Elected leaders, just like businessmen, promise too much. But the latter are easier to prove wrong /content/3lksq77jj8svn0j1naksk00b5clphath Wed, 13 Dec 2017 16:27:51 +0000 https://www.economist.com/buttonwoods-notebook/2017/12/08/putting-a-price-on-bitcoin A wide spread of prices is a sign of a malfunctioning market /content/srp0kru3jiubaheej50cjhfe49dm166o Fri, 08 Dec 2017 19:44:06 +0000 https://www.economist.com/buttonwoods-notebook/2017/11/30/how-to-spot-the-next-crisis The credit markets are riskier and less liquid than they used to be. This is where trouble may show up first /content/tl1qtsdjb7rp1df5p38re9uc1chvrce8 Thu, 30 Nov 2017 14:51:13 +0000 https://www.economist.com/buttonwoods-notebook/2017/11/15/britains-1970s-retread The similarities between the prime ministers who took Britain into, and are taking it out of, the EU are striking. But markets are much less concerned /content/fnd68j0k831lduposogqjean5ec9kpdq Wed, 15 Nov 2017 15:54:12 +0000 https://www.economist.com/buttonwoods-notebook/2017/11/06/where-economic-power-goes-political-power-will-follow Less equal societies may become less democratic /content/gs6870itb2391mfc4dcukhadufgdndvs Mon, 06 Nov 2017 15:51:58 +0000 https://www.economist.com/buttonwoods-notebook/2017/11/01/the-bitcoin-bubble There may be good reasons for buying bitcoin. But the dominant reason at the moment is that it is rising in price /content/un7i5trk7b2dng18lapig6la7jecdmn0 Wed, 01 Nov 2017 14:41:44 +0000 https://www.economist.com/buttonwoods-notebook/2017/10/25/the-financial-markets-are-not-the-whole-economy We are better at creating new claims on wealth than wealth itself /content/2j9a50fhh4jl9be4ncv8gb8qvstfi139 Wed, 25 Oct 2017 15:03:53 +0000 https://www.economist.com/buttonwoods-notebook/2017/10/18/when-the-revolution-eats-itself The referendum has emboldened the ideologues in British politics, a risk for both the economy and the markets /content/3qgs8vq74stoa883icbgulgu70tpsq4i Wed, 18 Oct 2017 11:55:56 +0000 https://www.economist.com/buttonwoods-notebook/2017/10/17/economic-optimism-drives-stockmarket-highs Investors are getting convinced that the world can enjoy strong growth and low inflation /content/6h4taq5dqrgomb32uq4tp1cq6kbm9ljh Tue, 17 Oct 2017 14:45:38 +0000 https://www.economist.com/buttonwoods-notebook/2017/10/12/taxing-the-rich An IMF report does not really support Jeremy Corbyn's plans; it is more nuanced /content/ha3t9fs9b9s95087hbg57h7rqbjuifdo Thu, 12 Oct 2017 15:53:56 +0000 https://www.economist.com/buttonwoods-notebook/2017/10/10/when-investors-get-stuck-in-the-past When past returns have been high, future returns are more likely to be low. But people don't realise that /content/neshl7g46s0ie80nobm11gm9puhck1kb Tue, 10 Oct 2017 13:46:08 +0000 https://www.economist.com/buttonwoods-notebook/2017/10/05/can-you-afford-to-retire People don't like to think about pensions. And that means they underestimate the costs /content/e3a2dbeupo2jriqiq0mnir7efafu1ara Thu, 05 Oct 2017 15:09:29 +0000 https://www.economist.com/buttonwoods-notebook/2017/09/27/why-a-labour-government-might-mean-a-fall-in-sterling It is all about the risk premium. And if the pound doesn’t fall, it’s only because the mortgage rate will shoot higher /content/t18aepr02kp4ae6pqtk76pcmamsut200 Wed, 27 Sep 2017 08:50:25 +0000 https://www.economist.com/buttonwoods-notebook/2017/09/26/picking-a-fund-manager-the-odds-arent-great Active fund managers have had a good 12 months, but a terrible ten years /content/op3cb72fuoqgg9c6dq147s9atgcai79e Tue, 26 Sep 2017 14:18:36 +0000 https://www.economist.com/buttonwoods-notebook/2017/09/15/a-positive-sign-from-the-bond-market A falling trend in defaults will make investors more optimistic /content/o7cicemaaaprcprus5rh0e7pu4lqhvc1 Fri, 15 Sep 2017 13:03:36 +0000 https://www.economist.com/buttonwoods-notebook/2017/09/08/will-credit-cause-a-slowdown Saxo Bank thinks a slowdown in credit growth is bad news /content/odhv12er5g48h3049avqv8og30kn3oiq Fri, 08 Sep 2017 15:52:30 +0000 https://www.economist.com/buttonwoods-notebook/2017/08/30/the-bond-market-defies-the-doomsters People keep calling the bond market a bubble. But it hasn’t popped yet /content/l7cs9i7j37q9tauk44q0mnu691ct6hbb Wed, 30 Aug 2017 13:05:17 +0000 https://www.economist.com/buttonwoods-notebook/2017/08/11/how-do-you-solve-a-problem-like-korea-investors-are-unsure Will the talk of fire and fury just turn out to be foolish folderol? /content/ae8fe4ast9t0fasb8dmodgtpgqrj12qd Fri, 11 Aug 2017 09:52:53 +0000 https://www.economist.com/buttonwoods-notebook/2017/08/09/where-might-the-next-crisis-come-from The debt has not gone away; the system has been kept afloat by very low interest rates /content/pjpum2a84up49cgkmf0ghq7pkb0qeovu Wed, 09 Aug 2017 11:18:56 +0000 https://www.economist.com/buttonwoods-notebook/2017/08/08/capitalism-and-the-absence-of-creative-disruption The market is relying on profits to stay high /content/ds09lni8kv9pasd7rm113of2mf58oi0a Tue, 08 Aug 2017 07:19:45 +0000 https://www.economist.com/buttonwoods-notebook/2017/08/03/a-tale-of-two-markets The American stockmarket may be hitting new highs, but currency markets have lost faith in the Trump rally /content/3pvuvgvl81m9s1aud69st0m58ar1drob Thu, 03 Aug 2017 11:47:53 +0000 https://www.economist.com/buttonwoods-notebook/2017/07/27/foreign-investors-snap-up-londons-iconic-buildings A British skyscraper looks like a “must-have” for international tycoons /content/kr6hobm1fkd6dfg7lcgm9ju3v84t1974 Thu, 27 Jul 2017 15:11:04 +0000 https://www.economist.com/buttonwoods-notebook/2017/07/26/the-euros-obituaries-were-premature Mario Draghi really did “whatever it took” to save the euro /content/81a0ejpb9nks5i2me153vj2junjct1qa Wed, 26 Jul 2017 11:10:43 +0000 https://www.economist.com/buttonwoods-notebook/2017/07/19/britain-back-to-being-the-sick-man-of-europe Constructing a scenario of British decline is all too easy /content/co3lhmg24t7v90bpgoa4vo6sfgqdsv1r Wed, 19 Jul 2017 13:07:06 +0000 https://www.economist.com/buttonwoods-notebook/2017/07/10/the-psychic-brexit-ballot-paper The British government is reading far too much into the EU referendum result /content/rvtlpjfj9hb51kqf9madakfrt3r6dd3v Mon, 10 Jul 2017 11:10:41 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/28/can-the-fund-management-industry-deliver-a-better-deal-for-investors There will be more transparency on charges and better governance standards. But how much in the fund-management industry will really change? /content/43jnb21hunipbqp5umnfgr013aa6vleh Wed, 28 Jun 2017 10:19:05 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/22/why-the-falling-oil-price-isnt-hurting-markets Last time, the fear was that demand was falling. This time, it is excess supply /content/9jgbim4nqtng5diqpvs1uthte9o91bsf Thu, 22 Jun 2017 14:53:09 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/14/the-globalisation-counter-reaction Globalisation is a highly disruptive force. It provoked a reaction in the early 20th century. Are we seeing a repeat? /content/n4jedvfi26vniddu5nn65pg7upl9gk9g Wed, 14 Jun 2017 11:14:44 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/12/britains-political-outlook-seems-toxic-to-investors The combination of a weak Conservative prime minister and the potential for a Corbyn government does not look attractive /content/54iaav0o7ahn4ie1njjp5s8gjvucqfcr Mon, 12 Jun 2017 11:43:16 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/09/markets-struggle-to-make-sense-of-britains-election-chaos The initial reaction has sent the pound and domestic shares down, and multinational shares up /content/66tb2d27n0lk4alqdvfsb12pam47e30b Fri, 09 Jun 2017 07:41:52 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/08/britains-vote-catches-out-the-markets-again Chaos and uncertainty will follow /content/gjhim54u1p264fbrkdescr33lc0cdb42 Thu, 08 Jun 2017 20:40:50 +0000 https://www.economist.com/buttonwoods-notebook/2017/06/06/what-will-the-markets-do-if-labour-wins The best guess is that sterling and equities will fall. Not so clear about gilts /content/tglu3p11it4k1fg7pdfpbp7985alucnf Tue, 06 Jun 2017 14:54:40 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/26/mays-mandate-melts The markets are remarkably calm about polls showing that the election is narrowing /content/r7e0m0mbaqr4r8spl2t39ne05n8l28lv Fri, 26 May 2017 09:53:14 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/23/the-ive-paid-in-all-my-life-fallacy Social benefits are often sold as insurance-based schemes. But they don’t work that way /content/om5r22csgt0ibjb2al1q4msjum7t2ojp Tue, 23 May 2017 13:53:27 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/18/from-russia-with-risk Investors may have realised that Mr Trump won’t deliver all he has promised. But worse things must happen before the stockmarket slumps /content/cvi1p60n19sp6stoic1hos830f1v22c2 Thu, 18 May 2017 15:53:07 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/18/not-maggie-may-but-muddled-may The new manifesto reveals a lack of coherent philosophy from Theresa May, and no clear plan for Brexit /content/sot85g3dmr5ltrn0podp56nblsv8kuah Thu, 18 May 2017 13:17:50 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/16/old-mcdonnell-has-a-plan-he-eyes-ious Labour’s plans aren’t really Keynesian and seem designed to repel businesses in a post-Brexit world. It is all about redistributing a smaller pie /content/31du6e8itahjgc44tsdunm65o8ujmht4 Tue, 16 May 2017 13:30:44 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/11/on-china-commodities-credit-and-complacency There is a battle between those who believe the reflation trade has further to go and those who think the markets are dangerously complacent /content/a4qqns02oo9k035fplgt6l0ou6q3i22o Thu, 11 May 2017 11:20:49 +0000 https://www.economist.com/buttonwoods-notebook/2017/05/10/the-tory-and-labour-parties-fail-to-face-the-realities-of-brexit The UK will inevitably become a less attractive home for business after Brexit. The problem can be tackled, but only if politicians face up to reality /content/abakg1vtr2m9jt6dveifclhqskfik7cn Wed, 10 May 2017 14:24:30 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/27/the-markets-are-uninspired-by-the-trump-tax-plan Investors were hoping for more detail but the only thing that seems clear is that the rich will gain a lot. Funny thing, populism /content/klert7gug4argjhapdt31bbqi87298fl Thu, 27 Apr 2017 09:55:11 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/25/reports-of-populisms-death-are-premature Investors have been relieved that Emmanuel Macron looks set to be the next French President. But that doesn’t mean the threat of economic nationalism is over /content/4lo6ekvr0hach1ltfsqkk4q24bgf2fcu Tue, 25 Apr 2017 11:20:08 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/21/a-market-related-twist-to-the-dortmund-bombing German prosecutors allege a financial motive for the attack on the football club’s bus /content/vlfop82ht9i5dfa5k04al1f2usdlgbdm Fri, 21 Apr 2017 15:51:28 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/19/the-markets-adjust-their-brexit-calculations Sterling has risen because investors think a Conservative victory will allow a softer approach to Brexit. But that may not be the right call /content/g2ubjhv0apg6vnut20fd34ssniandcj3 Wed, 19 Apr 2017 11:11:35 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/11/what-if-the-french-second-round-pits-melenchon-against-le-pen Markets are just waking up to a new source of political risk /content/lpj61ll6auevnlfb0rc27unu1c28m4tv Tue, 11 Apr 2017 10:43:02 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/06/the-security-threat-to-the-global-economy The inability to solve geopolitical crises is reminiscent of the League of Nations era and another disturbing parallel with the 1930s /content/kndv86uk3snb5sdkh8mr2m2ukt4j5fl3 Thu, 06 Apr 2017 10:32:57 +0000 https://www.economist.com/buttonwoods-notebook/2017/04/01/is-inequality-here-to-stay Heavy industry may have cemented working class solidarity. The gig economy won’t. And mobile capital makes the issue hard to tackle /content/buajhbblksmbmeqa0bt0104k7d0e7ns5 Sat, 01 Apr 2017 14:41:31 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/28/the-brexit-arguments-work-for-scotland-too Every argument Theresa May uses against the EU can be turned against her by Nicola Sturgeon /content/fesp723vp6ao38ggbl0lnh41fqeesiqj Tue, 28 Mar 2017 10:20:07 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/22/donald-trump-trade-and-the-new-world-order Might the Trump administration usher in a new era for international finance? /content/s01pmbgp5ri6f0tv4nrjfk6g2lqa2rgt Wed, 22 Mar 2017 12:14:49 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/16/the-hole-in-western-finances There is a persistent shortfall between revenues and spending and it may get worse /content/1e43loo9kgt2t20m7hali9ragd06cpqe Thu, 16 Mar 2017 14:49:38 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/13/the-hounding-of-owen-jones The latest indication of a disturbing trend to quash debate and erode trust. And trust is vital for a society and economy to function properly /content/0d27nc7oukqcfhc1ev0s8u14uusrhiu6 Mon, 13 Mar 2017 21:27:14 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/08/the-ouija-board-theory-of-democracy Referendums pose general questions, from which people can (or should) not draw specific inferences. That is why we need elected representatives /content/dht9lq63vv6cqa7t7bp9lfudv11291h0 Wed, 08 Mar 2017 11:17:38 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/02/who-will-lose-when-globalisation-retreats Globalisation has retreated before. The results were disastrous /content/ipqui1gdqt694plna8qd383c9at2hh6h Thu, 02 Mar 2017 16:24:08 +0000 https://www.economist.com/buttonwoods-notebook/2017/03/01/how-quickly-will-the-federal-reserve-tighten The markets will have to start focusing on monetary policy again /content/7vdv2ic5p8gmc7dbpg3ibedkv8suoldf Wed, 01 Mar 2017 11:46:28 +0000 https://www.economist.com/buttonwoods-notebook/2017/02/27/william-jennings-trump-and-the-monetary-elite Suspicion of eastern elites and the impact of monetary policy has switched parties since 1896 /content/8fihs7ianmd7ad99fa39ejo0gspdcap4 Mon, 27 Feb 2017 12:40:57 +0000 https://www.economist.com/buttonwoods-notebook/2017/02/17/euphoria-returns-to-markets Signs of global recovery, and hopes of tax cuts in America, are pushing stockmarkets to new highs /content/m8ftvru7cl8gar8o2vba48croj8vofch Fri, 17 Feb 2017 12:09:28 +0000 https://www.economist.com/buttonwoods-notebook/2017/02/13/the-problem-that-links-business-finance-and-politics Once you rely on agents, you create conflicts of interest. And you have to rely on agents /content/db9jkskgl78p8ok62q7mujnfke7062fj Mon, 13 Feb 2017 14:30:40 +0000 https://www.economist.com/buttonwoods-notebook/2017/02/10/stockmarkets-are-confident-banks-not-so-much Banks have been downgrading their credit ratings of Dow components /content/sdn96f9vipdlr1oqj1smk8phj7ripvmu Fri, 10 Feb 2017 11:10:14 +0000 https://www.economist.com/buttonwoods-notebook/2017/02/01/talking-the-dollar-down-or-is-it-up The Trump administration's statements on the dollar have betrayed confusion. Their actions belie their words /content/j6tjajhprodv3b23iroi8ofe64l7vb75 Wed, 01 Feb 2017 12:15:02 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/27/making-protectionism-unpopular-again Tariffs raise prices for poor consumers. That used to make them politically unacceptable /content/kv22706k6kf56u37of0km3k0b3548v90 Fri, 27 Jan 2017 15:17:09 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/24/the-markets-have-second-thoughts-on-donald-trump Investors hoped for “Trump lite” but they are getting the dark version as well /content/dsle7907dfqmj2thdjstlti3dqg7u526 Tue, 24 Jan 2017 14:10:06 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/20/you-cant-be-both-a-populist-and-a-free-market-conservative Both Theresa May and Donald Trump are sending out mixed messages; they must disappoint the markets or their supporters /content/4co07r7911te0s64iq3ujk0ifkkir445 Fri, 20 Jan 2017 15:49:50 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/16/are-big-infrastructure-projects-castles-in-the-air-or-bridges-to-nowhere Spending is driven by either domineering governments or market bubbles. Is there a better way? /content/5jqb12j945f2646m8p2uaag0vuplcm1t Mon, 16 Jan 2017 16:02:01 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/12/attack-of-the-zombie-firms A new OECD study suggests that old, inefficient firms may be stifling economic growth /content/75bku2q67js6cevs5rr9dd4a413besuu Thu, 12 Jan 2017 11:34:37 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/11/the-curious-case-of-missing-global-productivity-growth There are issues in measurement but total factor productivity seems to be shrinking /content/8pm4qif7sggt8uo01glnvglg0cam4sgl Wed, 11 Jan 2017 14:39:02 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/05/the-greenspan-legacy The Fed chairman's record is a case study in cognitive dissonance /content/n4a823q2g3ieokg6u503ve67qa3685br Thu, 05 Jan 2017 17:29:16 +0000 https://www.economist.com/buttonwoods-notebook/2017/01/04/the-manufacturing-jobs-delusion Manufacturing jobs have disappeared and they are not coming back in significant numbers /content/nbjrllhddcb5hiijk54ue9u31lug3q1i Wed, 04 Jan 2017 12:17:52 +0000 https://www.economist.com/buttonwoods-notebook/2016/12/16/dorothy-meets-the-mnuchins An illegal immigrant with her Hispanic-sounding dog arrive in Oz. With apologies to L Frank Baum /content/585bcoig9r436tm13cs4q6t0sqt7s46i Fri, 16 Dec 2016 10:21:31 +0000 https://www.economist.com/buttonwoods-notebook/2016/12/14/dow-20000 America’s flawed stockmarket indicator approaches a new milestone /content/ilp490k803sps0tk6hr0n7un7qu7b8bq Wed, 14 Dec 2016 12:30:29 +0000 https://www.economist.com/buttonwoods-notebook/2016/12/08/dude-wheres-my-toga The similarities between Donald Trump’s Washington and the Roman republic /content/es5bddipsrgld04kovg99g01cg0th92q Thu, 08 Dec 2016 11:43:45 +0000 https://www.economist.com/buttonwoods-notebook/2016/11/30/schrodingers-brexit How quantum physics may explain the British government’s negotiating strategy /content/t075ad0u4dtatqc3i8lms2btg1rbm9hm Wed, 30 Nov 2016 11:26:42 +0000 https://www.economist.com/buttonwoods-notebook/2016/11/23/the-changing-face-of-global-trade A new book emphasises the importance of global value chains, which make old development policies and tariff walls look out of date /content/s3trlu2khcqljc6jgaupntcil4pekco4 Wed, 23 Nov 2016 15:05:34 +0000 https://www.economist.com/buttonwoods-notebook/2016/11/17/rethinking-central-bank-independence A timely assessment of the role of central banks in a world of low rates, quantitative easing and populist politicians /content/g0dqf8oiadf4s87s7dkopkk7is3rkt4r Thu, 17 Nov 2016 12:54:04 +0000 https://www.economist.com/buttonwoods-notebook/2016/11/15/brexit-meansa-lot-of-complex-trade-decisions If Britain and the EU both stick to their red lines, the result could be a damaging hard Brexit. Even if they don't there will be complex and time-consuming negotiations ahead. /content/dqa2nmp4g08mmvsql2amrcqfsq71d6of Tue, 15 Nov 2016 17:25:02 +0000 https://www.economist.com/buttonwoods-notebook/2016/11/10/markets-are-hoping-for-bush-30 The climb in bank shares is a clear sign that investors hope that Donald Trump is going to ignore the people who elected him /content/2m4kg59eji1edc1pvudc4ujn17b1gils Thu, 10 Nov 2016 11:17:56 +0000 https://www.economist.com/buttonwoods-notebook/2016/11/08/donald-trumps-surprise-early-success-causes-a-sell-off-in-equities-and-the-mexican-peso Expect jittery times ahead if Mr Trump pulls off a victory /content/9tn8e27n8fm09b10i88kl2h9vk84bt74 Tue, 08 Nov 2016 23:47:08 +0000