The Housing Market in Canada is Starting to Look Shaky

We have pointed to the Canadian housing market boom and likely bust on several occasions in our reports to clients. Canadian households are overlevered and the housing market has risen to new highs. However, we are now starting to see decisive signs of weakness and...

The Yen Also Rises

The Argentine writer Jorge Luis Borges has a short a story about two lifelong rivals, villains to the core, who are finally captured by the authorities and sentenced to death for their misdemeanors. The officer in charge of the execution, a gambling man himself,...