◀ The Principal Blog

From Deflation to Reflation

If there’s one statistic that symbolizes the tremendous amount of excess capacity globally and, in turn, its deflationary impact on prices, it would be the Chinese producer price index (PPI). Looking at year-over-year changes, Chinese producer prices have been declining for the past 54 months.…

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Brexit – It’s Happening

In a recent blog post, “Brexit: Out of Sight, Out of Mind…. But Not Out of the Woods,” I discussed how the UK economy seemed to have shrugged off the inconceivable decision for Britain to leave the European Union. I noted that the key reason why markets seemed so positive was that many…

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