China sees rebound, but there’s another kick coming
30 Sep 2010 [0 Comments | 407 views]
China’s manufacturing was teetering on the brink of recession, suggested one normally reliable indicator a couple of months ago. Well, just for once, there is good news. The recovery has begun in earnest. But then again, China has got a much bigger shock coming its way. The shock has got nothing to do with trade [...]
House prices see modest jump in September
30 Sep 2010 [0 Comments | 1,058 views]
The latest housing survey from the Nationwide was out this morning. What with reports from Hometrack, and the Bank of England’s latest news on lending to individuals, it has been a busy few days for gauging the strength of the UK housing market. What does the data say? Actually, the Nationwide data didn’t say much [...]
EC sanctions miss their mark
29 Sep 2010 [0 Comments | 333 views]
EC sanctions miss their mark A cunning plan is set to be unveiled in the Eurozone to punish member states which commit the sin of either getting into big debt, running up trade deficits or allowing housing bubbles. Like so many cunning plans, however, this one misses the point. The trouble with punishing sinners is [...]
Print money, or it’s the end of democracy, says Bank of England man; stop printing money, or it’s trade war, says Brazil
29 Sep 2010 [1 Comment | 999 views]
It is hard to envisage two more diverse views. Adam Posen, member of the Bank of England MPC has said that unless the Bank of England prints more money, the UK will be torn apart by political instability. Meanwhile, Brazil’s finance minister has warned of an impending currency war, and he blames the policy of [...]
US house prices key report coming soon
28 Sep 2010 [0 Comments | 297 views]
Later today will see the latest US house price stats from Case-Shiller. Four weeks ago the 20-City House Prices index was still positive – up 1 per cent in June. But recent data indicated that US new home sales in August stayed at the same record low set the previous month. In fact, sales in [...]
Spend, spend, spend, demands Bank of England deputy governor
28 Sep 2010 [4 Comments | 803 views]
As you know, we have all got to save more. Pay off debt, and start preparing for our retirement. Errr, this is odd. Yesterday, in an interview on Channel 4 News, Charlie Bean, the Deputy Governor of the Bank of England, called for consumers to go out and spend, and if necessary eat into savings. [...]
Students opt for entrepreneur as career of choice
28 Sep 2010 [1 Comment | 1,457 views]
According to research from Hiscox, no less than 40 per cent of students in London are either running their own business or are about to do so. And Hull, the city that has suffered from permanent economic depression for decades, is second in the chart of would-be entrepreneurs. It’s good news surely, but why is [...]
Capitalism sees new birth in Cuba
27 Sep 2010 [0 Comments | 569 views]
The dominos stopped falling at Cuba. When the Soviet Union collapsed, capitalism was in the ascendance, but it didn’t reach as far as Cuba. And that brings us to an irony. On the eve of the credit crunch, when some argued capitalism was dying, it seems Cuba is at last embracing the profit motive as [...]
Gold and silver soar as race to bottom begins
27 Sep 2010 [0 Comments | 825 views]
Gold seems to be passing all-time highs with almost tedious regularity. Silver has passed a 30-year high. Meanwhile, a trade war between China and the US has come a step closer. Everyone wants the same thing, but they just can’t have it, and that’s why the safe havens are looking so attractive. What does it [...]
ICB in bank break up threat
24 Sep 2010 [0 Comments | 376 views]
Today the ICB spoke – that’s the Independent Commission on Banking. It seems a break up of the banks is still on the cards. The Chairman of the Commission, Sir John Vickers, put it like this: “Questions about the structure of banking need to be debated in an open, rational way, and we would like [...]
