While the global euphoria ignited by Donald Trump persists, there are parts of the world where sentiment is a little weaker. Trump will certainly help central banks to adjust policy and boost the domestic economy, but it will bring a lot of trouble to emerging markets. When I say trouble, I’m not thinking about Trump’s…
In keeping with the Indian Government’s reform agenda, on 8 November Prime Minister Modi announced the immediate withdrawal of Rs. 500 & Rs. 1000 notes, in a move to reduce black money in the system, curb funding of illegal activities and address the problem of counterfeit notes. The decision to withdraw these two denominations –…
Last week I was in New York, and by sheer chance I ended up right next to Trump’s golden palace (and of course the many thousands of indignant demonstrators objecting to his position as President-elect). I’d come across on the mighty Queen Mary II, as I find it easier to research new books on the…
UK public finances are way off course. But, despite the unsympathetic forces of a cynical state ranged against him, one well-meaning bean-counter is trying to survive in extreme adversity. It makes for a harrowing Ken Loach movie… I’m appointed to make an assessment, Mr Hammond When Philip Hammond MP, Chancellor of the Exchequer, stood up…
We have reached a point where people are so tired of the current economic model that they’re willing to support anyone promising to do away with the status quo and make life great again. It’s hard to find fault, because the current model is obviously rotten and is overwhelmingly biased towards the incumbent wealthy. But,…
Financial Armageddon? At least you reacted… Readers’ reactions to my piece in this month’s MI magazine on the theme of Financial Armageddon were, as usual, intelligent and interesting. In case you missed it, I was arguing that risks in the global financial system have been rising inexorably to a point where another systemic financial crisis…
Far from heralding disaster for the Eurozone, Donald Trump may soon help to replace the melancholic frown on European faces with a happy smile of hope. Here’s why… While the world is still reeling from the Trump win over Clinton last Tuesday, there is a huge amount of information to be digested, analysed and filtered in…
Building a wall? A ban on Muslims entering the US? Mass deportation of illegal immigrants? Anyone assessing some of Donald Trump’s more outlandish policies might appear well justified in coming to the conclusion that the 45th President of the United States is set be an economic disaster. But it would be a mistake for investors…
To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties. – Paul Samuelson…
It’s déjà vu – all over again The great American people have spoken. And the opinion polls were wrong. Again. Those beautiful bellwether states of Ohio, Florida and Georgia called for Mr Trump who is, this morning, the President-Elect of the United States. All over the world “experts”, liberals and lefties are swooning in disbelief,…
