In the past 15 years the US economy has left Europe in the rear-view mirror. While America booms, Europe appears to be flatlining. The question is why? Americans say it’s entirely Europe’s fault: bad policies, failing politics, and lack of unity. However, the consequences of the (as yet unresolved) European Sovereign debt crisis triggered by the Global Financial Crisis of 2008 was the speedbump.

Andy Burnham promises the UK a national reboot. Critical to his success will be his choice of chancellor, and the relationship with the financial markets. Rachel Reeves is closely associated with the failed Starmer premiership – but she knows how to do the job and has credibility with the markets. With new leadership she could prove a much better choice than other contenders.

The success and depth of US capital markets to finance entrepreneurs and successive tech revolutions has been extraordinary – fuelling the exceptionalism of the US economy. In contrast, the UK is more risk adverse towards start-up opportunities. That’s largely cultural, a reflection of the more mature, later-stage British Economy. What will happen when the US economy is also past its top, and following the UK into maturity?

Trump has been sending “for your immediate attention”, letters to former friends and allies hiking tariffs and threatening retribution if they retaliate. Yawn. Who cares? The Global economy gets it. America is no longer America. Global trade is shifting. Excellent – that spells opportunity!

What an interesting time we live in. Uncertainty, instability, markets hitting new highs as fears plumb new depths. Nothing to worry about. The global economy and markers are changing. Just how we won’t know till we can see it in the rear-view mirror.

Markets are struggling with just how much Trump’s tariffs might derail global trade and growth. In normal times the solution would be patient negotiation to avoid destructive trade wars. These are not normal times – we are dealing with America First MAGA zealots.

We live in interesting times. Markets are see-sawing on the strum et drang of events. It’s critical to cut through the noise, and figure where this all might be going. Once events are in motion, they become increasingly difficult to control. Change is in the air.

Trump and Putin will agree Peace in Ukraine. The USA will walk away, leaving Europe to deal with the consequences of an unbeaten Russia. A new cold war will descend. That could provide the spark for a European rebirth around rearmament and a new unity of purpose, or instability as Russia seeks to pick off weak nations.

Valuations in the USA look insane. Surely stock prices must be a bubble? Maybe. Maybe not – the USA has created a self-driving technology machine, a conveyor belt of tech innovation that’s set to continue delivering value and corporate profits. To understand it – ditch traditional thinking about economies.

Labour might have a massive majority, but they are being mugged in broad daylight by the rump Tories who have persuaded the electorate they’re as bad as they were. That’s not good in an economy requiring big decisions to be taken and delivered competently. Labour is in danger of losing “Grip”.