Thoughts on the global financial system's unipolar moment, why is Trump so worried about the dollar, two glimmers of hope for Europe, Britain's local government scandal and what's left of Northvolt
Yes better more informed writing by Simon in one article than a whole month of comment in The Times business section. They’ve let him go so they can have commentators write puff pieces about dinner with some Tory donor.
You sure do learn a lot from Simon’s pieces that’s for sure
Sometimes I admit I’m not smart enough to understand everything in a certain weeks piece but there’s always enough in there that I do understand or that he explains in a way that I learn how to understand, that it keeps me coming back
Thanks Lee. I do try to keep my posts jargon-free and accessible to a wide audience so I'm sorry if I occasionally fall short. I blame my (lack of an) editor!
About the Audit Commission, scrapping as "red tape" - rather than, say, reforming to improve - the mechanism for auditing spending for which one is going to have to pick up the bill if it all going horribly wrong, seems to me like a textbook example of irresponsibility.
I wonder if, in years to come, the decision may come to be seen as a landmark in how the Conservatives, regarded as the financially reliable, natural party government, lost their way.
Fully agree Jack. Too many of the post-2010 Tories were dilettantes engaging in cod Thatcherism. They thought the answer to everything was cuts and privatisation but didn’t have the patience or discipline for reform, or even to find out how things actually work…
You say this is the biggest the US bubble has got since the Dotcom bubble but point out the confidence of BofA economists and households that the growth will continue, well back before the Dotcom bubble burst what were BofA economists and household surveys saying then? Was it similar to what they’re saying now?
You raise an important point Lee. They always say that the peak of a bull market is reached when the last bear capitulates. JP Morgan famously knew it was time to sell when he started receiving stock tips from his shoe shine boy.
This is right on the money. And today (Monday 9/12) there is the comment piece in the FT by Rana Foroohar talking about whether Trump may actually have a weak dollar objective to help correct trade imbalances. The US remains the home pf tech innovation and growth (100% growth at Nvidia…) but if the market goes bearish on the dollar, that, rather than an equity crash, could be the catalyst for moving equity investment to other markets.
Fascinating analysis Simon.
Yes better more informed writing by Simon in one article than a whole month of comment in The Times business section. They’ve let him go so they can have commentators write puff pieces about dinner with some Tory donor.
You sure do learn a lot from Simon’s pieces that’s for sure
Sometimes I admit I’m not smart enough to understand everything in a certain weeks piece but there’s always enough in there that I do understand or that he explains in a way that I learn how to understand, that it keeps me coming back
Thanks Lee. I do try to keep my posts jargon-free and accessible to a wide audience so I'm sorry if I occasionally fall short. I blame my (lack of an) editor!
Not your fault mate, my fault for not taking enough notice in Year 12 Economics!! 😀
Thanks Andrew!
Suggest you check spelling of Buffet!
Really interesting and timely piece, thanks ...
Thanks for these, Simon.
About the Audit Commission, scrapping as "red tape" - rather than, say, reforming to improve - the mechanism for auditing spending for which one is going to have to pick up the bill if it all going horribly wrong, seems to me like a textbook example of irresponsibility.
I wonder if, in years to come, the decision may come to be seen as a landmark in how the Conservatives, regarded as the financially reliable, natural party government, lost their way.
Fully agree Jack. Too many of the post-2010 Tories were dilettantes engaging in cod Thatcherism. They thought the answer to everything was cuts and privatisation but didn’t have the patience or discipline for reform, or even to find out how things actually work…
You say this is the biggest the US bubble has got since the Dotcom bubble but point out the confidence of BofA economists and households that the growth will continue, well back before the Dotcom bubble burst what were BofA economists and household surveys saying then? Was it similar to what they’re saying now?
You raise an important point Lee. They always say that the peak of a bull market is reached when the last bear capitulates. JP Morgan famously knew it was time to sell when he started receiving stock tips from his shoe shine boy.
Simon
This is right on the money. And today (Monday 9/12) there is the comment piece in the FT by Rana Foroohar talking about whether Trump may actually have a weak dollar objective to help correct trade imbalances. The US remains the home pf tech innovation and growth (100% growth at Nvidia…) but if the market goes bearish on the dollar, that, rather than an equity crash, could be the catalyst for moving equity investment to other markets.
Thanks David. Vance has talked about a weak dollar and the costs of reserve currency status, before he was put back in his box during the campaign…