Weekly Economic Update: Post-BrexitJune 29, 2016
The British are leaving! The British are leaving! – Maybe. Friday provided a profound shock for the financial markets as the UK voted to leave the EU in the Brexit referendum. Over the past week, following the assassination of Labour MP Jo Cox, polls had shifted from favoring Leave to favoring Stay – right up until the last polls before voting. Indeed, even UKIP party leader Nigel Farage was indicating Thursday that Stay would scrape out a victory. The unexpectedness of the outcome generated substantial volatility and market angst in part because over optimism had led some to exit protective positions and they were forced to run to cover. What we learn from this is that predicting the future is never easy. Now economists have both weather forecasters and pollsters to joke about.
An Unsettling EquilibriumAugust 6, 2015
GIC Chairman Michael Drury takes a look at the global economy today.
The Global ExpansionJuly 2, 2015
GIC Chairman Michael Drury takes a look at the state of the global economic expansion.
A Strong Dollar May Not Be as Bad as FearedApril 23, 2015
GIC Member Bob Eisenbeis, of Cumberland Advisors, argues that the potential negative effects of a strong dollar are "overblown."
The Asian Infrastructure Investment BankApril 14, 2015
Michael Drury, chief economist of McVean and GIC chairman, discusses the Asian Infrastructure Investment Bank in the context of global events.
Abenomics and the J-CurveMarch 19, 2015
Bill Witherell of Cumberland Advisors discusses Japan and Abenomics.
China Data, Exports and InvestmentJanuary 22, 2015
GIC Chairman Michael Drury, chief economist of McVean Trading and Investment, explores recent data from China and its implications.
SwitzerlandJanuary 20, 2015
David Kotok, CIO of Cumberland Advisors and GIC board member, comments on Switzerland.
International Equity Markets in 2014 and the Outlook for 2015December 30, 2014
Cumberland Advisors Chief Global Economist Bill Witherell talks emerging markets in this blog post.
Who is the Biggest Economy in the World?December 23, 2014
GIC Chairman Elect Michael Drury discusses the world's largest economy.
The World Last WeekNovember 20, 2014
GIC Chairman Elect Michael Drury takes a look at last week's events in economies around the world.
Watch the Invisible Hand!November 6, 2014
Incoming GIC Chairman Michael Drury discusses the global recession.