How much longer can the market madness continue? Traditionally they remain irrational for longer than you can stay solvent. Central banks must be terrified – damned if they act, damned if they don’t. The basis of markets is under threat from unbridled speculation fuelled by their actions.
A new book on the fall of Boeing is getting the headlines this morning. I’ve been arguing it illustrates all the worst excess of capitalism – yet how many investors have called it out? Very few. Why does ESG apparently not apply to Boeing?
Facebook is now Meta, and Meta wants to own the Metaverse. Just what is the Metaverse, what are the opportunities, and can Mark Zuckerberg repeat the success of Facebook by monetising a whole new way of doing business, or is it shaping up to be something much, much more?
Despite Global uncertainty, rising inflation, and potential slowdown, markets remain Euphoric. All irrational markets eventually pop. How much longer can the current market mood be sustained? Longer than we think…
Greta Thunburg was right – there was a lot of blah, blah, blah at COP26, but also positive steps. The perception remains of rising climate risks, and that’s fuelling an increasingly de-growth extreme climate change populist agenda – which could prove even more disastrous than rising temperatures!
How much safer is the state global diplomacy today than in 1914? And, how the demise of GE illustrates the inevitabilities of corporate evolution, and the threat of mispriced capital.
Market expectations are all over the place as participants factor in what a new Fed appointment might mean in terms of lower for longer rates and more accommodative policy – but it all feels increasingly hollow. Momentum is not infinite!
Short porridge this morning as I’m angry and in a rush. As the UK government flounders in yet another storm of sleaze and corruption accusations, its venality and crass opportunism appears to be spreading through the economy, and is likely to hold back the recovery of personal and business travel.
The Olympics is a great example of the UK's Soft Power
The Fed finally begun its cautious taper and the market did not immediately self-destruct… but the consequences of 14 years of central bank experimentation, regulatory overkill and the “processification’ of markets will have consequences… they may be bleak…