A wider perspective.

Ideas and analysis on money, markets and the world around us.

Markets and reality disconnected

The behaviour of financial markets these days is frankly divorced from reality, with value-investing banished. Markets have become distorted by Rumsfeld-knowns such as interest rate policy and "market guidance", and…

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Why the business cycle is failing

Since WW2 economic theorists have posited that demand in the economy could be stimulated by a combination of deficit spending by the government and by suppressing interest rates. The separation of demand from production…

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A market reset due

Recent evidence points increasingly towards global economic contraction. Parts of the Eurozone are in great difficulty, and only last weekend S&P the rating agency warned that Greece will default on its debts "at some…

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