◀ The Principal Blog

The end of the “New Normal”



Nearly a decade of crises produced a prolonged period of subpar economic activity. First there was the financial crisis, then the European debt crisis, and finally the 2015-2016 commodity price rout. Nominal GDP growth collapsed. In fact, in 2015, world nominal GDP contracted as commodity and oil…

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Less is more



Four score and seven years ago… Abraham Lincoln’s Gettysburg Address was not the keynote address on November 19, 1863 at the dedication of the Soldiers’ National Cemetery.  It certainly wasn’t the longest speech of the day with most counts showing only 271 words.  It was however, the…

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