Dunkelflaute

Dunkelflaute

This is by far one of my favorite German words. The direct translation is dark doldrums, and if that doesn’t say everything there is to say, I don’t know what does. Dunkelflaute’s more modern meaning is a period of time, often several days, with little or no sunlight...
Show Your Work

Show Your Work

It is common practice in both middle school and stress testing for the teacher/regulator to require you to show all the intermediate steps you went through to get to the final result. On the student and bank side, this scrutiny is often construed as unnecessary,...
So Close and Yet So Tariffs Away

So Close and Yet So Tariffs Away

Agreement has been in short supply lately, except when it comes to inflation being a pain that everyone wants to stop or at least get into a reasonable range of, say, 2%. As can be seen on the graph below, the Fed has been working its delicate tool of the interest...
Where or When

Where or When

The first thing they teach you at economist school is that you can either predict where an indicator is going, or you can predict when it will change, but you cannot do both and still be right. As we are deep into the season of predictions there are plenty of examples...