Double dip draws closer, but corporate America may yet save the day
14 Jul 2010 [0 Comments | 339 views]
Credit rating agencies are in the news today. Standard and Poor’s wants to have its cake and eat it. At least, its latest comments on the UK do smack of someone who, having eaten a gorgeous gateau, with fresh cream oozing from all over, complains that their plate doesn’t look so nice now that it is [...]
House prices: the bears are back
13 Jul 2010 [0 Comments | 349 views]
If you go down to the woods today, you are sure of a big surprise, for every bear that ever there was, will gather there for certain because, today’s the day that housing bears have their picnic. 2009 was a puzzle. The UK economy was in the midst of the deepest recession since the dinosaurs [...]
Keep the euro, or ditch it?
12 Jul 2010 [0 Comments | 372 views]
It’s been a week of contradictions. German and Chinese exports have soared. UK exports stuttered. The IMF seems to have developed a severe case of multiple-personality syndrome. The president of the European Central Bank, Jean-Claude Trichet, has made his most nonsensical comments yet. We will be returning to these important developments later in the week, [...]
Are our economic fears now being realised?
2 Jul 2010 [3 Comments | 1,315 views]
Well, it may be happening. For months this column has warned you, and now the warning may be coming true. The markets are in a right tizz. Economic indicators are looking decidedly peaky. The FTSE 100 fell yet again yesterday, this time down to 4,805, the lowest closing prices since August last year. It is [...]
Are Martians in control of some central banks
30 Jun 2010 [4 Comments | 921 views]
This time, the European Central Bank sits at the centre of a storm. It is a little odd. The Bank of International Settlements, which is the closest we have to a world central bank, the IMF and the OECD have turned into arch hawks. They have thrown out 80 years of economic theory, and turned [...]
Work till you drop, or work until you want to stop
25 Jun 2010 [0 Comments | 350 views]
There are always two ways of looking at things. Some might say: “It’s a scandal, now we have got to work until we drop.” Others might greet the news with glee, and thank their good luck that they won’t be put out to grass at 65. To an extent your reaction to the news will [...]
The three musketeers have riposte for German queen
24 Jun 2010 [0 Comments | 387 views]
And while all around there was Armageddon, Mr and Mrs UK Press had a picnic. Okay, that’s a little harsh and maybe a touch over the top. But the truth is, this week’s budget should have been no more than a sideshow while some serious stuff was taking off in other parts of the world. [...]
Osborne puts all his money on black
23 Jun 2010 [5 Comments | 520 views]
It was a bold Budget, all right. It was hailed as the most significant Budget in years, which is odd because they said much the same of Alistair Darling’s Budget of just a few months ago. You could say there are two key points that stand out. Firstly, George Osborne wants to reduce what’s called [...]
Why Black Swan may explain a lot, but not all
11 Jun 2010 [1 Comment | 447 views]
Have you seen the latest BP-related idea coming out of America? It has been suggested that BP pays the wages of all workers who lose their jobs as a result of the oil drilling ban in the Gulf of Mexico. So that’s not just employees of BP, but employees of Exxon Mobil or Shell. This [...]
Inflation stirs
3 Jun 2010 [0 Comments | 348 views]
As you know, this column doesn’t pitch its tent in the inflation scare camp. For some time now it has been argued here that globally there is surplus capacity, and the real challenge facing the global economy is getting demand to match potential supply. We have also argued there are much stronger parallels between the [...]
