Hello. I’m Burnham Banks and I studied economics in the late 80s and early 90s. I’m still studying economics today and am still no wiser. This blog is a journal, a record of my thoughts and experiences. If we are destined to repeat our mistakes, we should at least repeat them faithfully. If not, then perhaps the past is a mischievous guide and we should try something new.
COVID 19, Contagion, Economic Consequences and Risks. 2020 03.
Monday, 16 March 2020 | 6:15 am
Contagion At the time of writing, the COVID 19 pandemic is well underway. At the end of January, there were almost 12 thousand cases, mostly in China. Now, just two months later, there are over 150 thousand cases, with the highest growth rates outside China. After China, Europe has become the new focus of contagion.
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COVID 19 and Recession. Mitigating The Economic Cost.
Thursday, 12 March 2020 | 6:14 am
It is becoming evident that if not the virus, the response to it, will cause recession. Fighting the virus is the responsibility of health authorities, not central banks and treasuries. Treasuries can help financially of course. Central banks and treasuries should concentrate on mitigating the economic costs of the virus and our containment measures. There
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Update on Economic and Market Outlook. COVID 19.
Tuesday, 03 March 2020 | 4:15 pm
In mid-January we noted the following: Valuations were high. Equity multiples were high, credit spreads were tight and real estate cap rates were low. Whatever it was an investor considered buying, large numbers of investors had already bid prices up and were squatting on large quantities of inventory. Economic growth was slowing. The global trade
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Artificial Intelligence May Be Upon Us
Sunday, 16 February 2020 | 7:23 pm
Note. This is an incompletely developed train of thought. The path to artificial (general) intelligence will involve the entire human race. The achievement of AGI could be as mysterious as the distinction between the brain and mind. When AGI is attained it will be the sum of all of us, participating in its evolution and
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Energy.
Wednesday, 22 January 2020 | 12:35 pm
With the current focus on climate change and resource sustainability its interesting to think more deeply about the sources and uses of energy on earth. Fossil fuels. Fossil fuels represent 85% of global energy generation. General opinion is shifting towards the view that fossil fuels are unsustainable because, a) there is a finite endowment which
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