The problem with central banks is that they initially wanted to be independent from us but now they want us to be dependent on them. Many years ago, there was a time when economic policy was part of a government’s list of affairs, with both fiscal and monetary policy being part of it. But, for…
The Nationwide has said that UK house prices resumed upward movement following 7 months of stagnation as the cost of an average home grew by 1% in March. Prices are now 5.2% higher than they were a year ago. The building society said that prices had risen despite a slowdown in market activity, which Howard…
The Office for National Statistics said that UK GDP Growth slowed to 0.3% for the first 3 months of 2015, from 0.6% in the final quarter of 2015, with a 1.6% contraction in construction output putting the brakes on the wider economy. Overall output was 2.4% higher than a year ago. Capital Economics’ Chief UK…
The Confederation of British Industry said that manufacturing output expanded at the slowest rate in over 2 years during the first 3 months of 2015, with the deceleration particularly notable among exporting firms, which suggests a loss of confidence in global prospects in the last few months. However, the average firm was still increasing production…
I have only been to the U.S. once. It was in 1991, to Los Angeles, just before Rodney King was beaten up. California, apart from the LAPD, struck me as a great place. But you would not want to get on the wrong side of the law. Indeed, given the totally one-sided extradition rules, even…
UK Government borrowing dropped to £7.4 billion in March, more than £400 million lower than in the same month of 2014. The total for the year so far now stands at £87.3 billion, well below the Office for Budget Responsibility’s £90.2 billion estimate and a drop of £11.1 billion against the comparative period. While the…
Bank of England minutes have shown that the decision to keep interest rates at 0.5% this month was unanimous, but the notes contained a comment that a pair of “hawks” were on the edge of voting for a rise which some in the City are reading as a suggestion that a tighter monetary policy may…
Featured in this month’s Master Investor Magazine. Planting the Seeds The financial crisis of 2007-2009 is often seen as one of the worst ever crises faced by the US economy. The capitalisation of the S&P 500 was halved, the unemployment rate was doubled, and the Federal Reserve had to go out of bounds in rescuing…
Unnamed EU Officials have informed the press that it will be incredibly to difficult to reach a deal regarding Greece by the 30th April deadline, with some outlets flagging the 30th of June as the new critical date. Local authorities throughout the country are protesting against a recent decree that requires all funds held in…
By Adrian Kempton-Cumber Featured in this month’s Master Investor Magazine. We live in an age where nothing is seemingly anyone’s fault any more. With the exception of meteorites and suchlike, that is just nonsense. “Have you had an accident at work that wasn’t your fault?” Well, legally must be someone’s fault, and if the lawyers…
