Remember the European debt crisis? When everyone was horrified at Greek debt and then started to eye Spain, Ireland, Italy and Portugal with suspicion as well? All the pundits muttered darkly about which banks were most disastrously ‘exposed’ to Greek or Spanish debt. Charts were made, names named, figures compiled and arrows drawn. It was …
I think it’s time we took a dispassionate look at what the markets are really telling us rather than what the financial media say they are telling us. The meta story about the markets is that money has been flowing OUT of the stock market and into the Bond market for the last 17 consecutive …
Time for a quick snap shot of where we are in Europe. Bit like a school photo. Spain – unemployment rose 1.6% in August. That gives a year on year rise of 9.4%! And remember a rise in August means unemployment going up during holiday season when Spain should be hiring. This is not good. …
Well once again the real world and the markets diverged. And once again it was left to a dysfunctional business media to concoct a story to reconcile the two. Today GM reported a 24.9% drop in sales from last year. Nisan down 27%. Volkswagen down 7.9. Honda drop 33%. If no one is buying cars, …
Two bits of news which seem to me to go together. First the growing unrest globally with the disparity and volatility of currencies. And second the huge increase in currency trading. FX (Foreign Exchange) trading has now reached 4 trillion dollars worth PER DAY. That is a 20% increase since 2007 and the present banking …
