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Odd Lots

Zoltan Pozsar Sees a New Dollar Regime. His Longtime Collaborator Disagrees

The two collaborators debate the effects of recent geopolitical crises

Perry Mehrling and Zoltan Pozsar.

Perry Mehrling and Zoltan Pozsar.

Photographer: Dash Bennett/Bloomberg

Credit Suisse AG strategist Zoltan Pozsar reached a new level of fame this year, pushing a vision of a burgeoning monetary order that he calls Bretton Woods III. Boston University professor Perry Mehrling just doesn’t see it.

What makes their disagreement notable is that for years the two have been close intellectual collaborators, having authored a paper together on shadow banking and market plumbing.