After writing Friday’s piece on currency wars, it occurred to me that some of the assumptions baked into my argument warranted a closer look. Essentially, instead of a war, I believe we’re seeing an economic readjustment, which is a significantly different way of looking at the situation.

Rereading yesterday’s post, I’m reminded of our tendency to look for things to worry about. To me, fretting about the systemic problems of low energy prices and high savings rates is a stretch, a sign that we’ve run out of real concerns.

Eeyore to the rescue! Although I’ve been saying for the past couple of years that the recovery is real and strengthening, I’ve also made a point to keep an eye out for risks.

This will be a short-ish post, as I find myself battling a cold that’s getting worse. The weather, fortunately, seems to be getting better, so hopefully I will too at some point.

Like my health, the economy took a hit this winter. There’s a reasonable chance we’ll see some sort of “snowdown” in the data; indeed, we already have for many data points. The question is whether this represents a meaningful slowdown or, like last year, is simply the result of terrible winter weather.

To finish up the discussion of the economic context of net neutrality that I started in Monday’s post, let’s take a look at the second half of the issue. Monopoly power, which I discussed in yesterday’s post, is a problem—but maybe a short-lived one. If you take away the monopoly part of it, is charging more for some users really all that bad? Not really.

As I mentioned at the end of this Monday’s post, one conflict with net neutrality is between use-based pricing—ordering and paying for one service at a time—and the all-you-can-eat buffet. This is a pretty clear distinction, with different value propositions for each. But what makes it interesting and complex, in an economic sense, is the effect of monopoly power.

The issue of “net neutrality” falls into the “boring but important” category that most of us normally ignore. Along with solar energy subsidies, social security wage bases, and other recondite things, it’s not visible every day but, nevertheless, does and will affect our lives.

One of the coolest talks I’ve ever seen at a conference was by a professional pickpocket named Apollo Robbins. (You can see his TED talk here.) Watching someone steal wallets, watches, and even glasses from people—on stage, in full view of everyone, and after warning the victim what was about to happen—redefined my idea of how our perceptions work.

I’m writing this in response to a comment on an earlier post about Europe, which essentially asked: Where does the U.S. fit in all this? A good question, and one that demands a further look.

Right now, the U.S. is in the process of trying to bang heads together to get a settlement between Greece (and the rest of the Southern European countries) and Germany (and the rest of the Northern European countries).

After analyzing China, Japan, Brazil, and other economic powers around the world, we come at last to the U.S. An outside view is particularly useful here. As citizens, we tend to think we know all the details, and so we're all the more likely to be caught up in an inside view.

The benefit of looking at the other countries first is that we now have some context for judging where we stand and what that might mean. 

As I mentioned yesterday, Russia’s economy basically doesn’t work without oil. Today we’ll take a deeper look at that problem, along with the potential consequences as Russia attempts to deal with it.