Markets feel buoyant and happy, and that makes me nervous. What are we missing? How will spot the inevitable shift in sentiment coming? It’s a traders market. Meanwhile, long-term investors are changing the very structure of the market.
The CBI think the next decade could be lost as the UK is swamped by stagflation, zero growth and disinvestment, and wonder what the government’s plan is? There isn’t one except to ignore the brutal truth of acknowledging the greatest mistake the UK ever made.
The media is full of China noise – does the rising tension mean it may become un-investible? The Chinese economy is very different, but recognisably similar. Investment into China boils down to how effectively a capitalist economy can succeed in the face of government diktat, bureaucracy, and intervention – and on that basis it’s a proceed with caution market.
