Klaus and his ‘Young Global Leaders’ seem to be getting rather over-excited recently, with their increasingly frenzied attacks and scapegoating of those heretics and blasphemers of their cherished plans for the New World Order. But then this is perhaps understandable, as everything is beginning to unravel. The new scariant Omicron is not only proving to […]
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Will Corbyn now hold us all hostage with the fixed term Parliament Act? This is all looking a bit like a re-run of the ‘Long Parliament’. “On 1 December 1648 [4 September 2019] , the House voted 129 to 83 to continue negotiations with Charles [the EU] for reforming the government on terms they had […]
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BTFD or STFR depends on what game you think is really being played out there in markets. The recent bounce in equity prices on the apparent reversal in the Fed’s QT narrative together with an improving narrative on Chinese tariffs and now hopes for a reversal in Brexit, notwithstanding the resounding defeat of Theresa May’s […]
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So if Trump’s tariffs are going top hurt the US so much why is the US dollar going up by so much? If Trump’s tax reductions are going to increase the budget deficit, why are currency markets so unconcerned? It is because currency markets understand Trump is going to win. His tax cuts are […]
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Can it get much worse for Theresa May? Having botched an unnecessary general election, her grand solution to the Brexit negotiations is basically to try and do nothing. Having been sucked into the EU’s negotiating agenda of pay now, talk later on trade (or perhaps not at all), her ‘Florence’ proposal is now to seek […]
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Is Italy really limbering up for a rejection of the Euro and a return to the lira, or just bluffing? The narrative would appear to be, that if the ECB won’t bail out the Italian banks with fresh Euros, then Italy should do it itself by returning to the Lira. Whether the threat cuts much […]
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Amongst all the carnage of Brexit, something to lighten the mood. Rowan Atkinson singing the European Anthem. Like the real thing, it starts off well (once in the right key), but then descends into chaos.
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How should we interpret this week’s volte-face by Tsipras and the Syriza government in approving austerity concessions to the Troika that had been specifically rejected by Greek voters in a referendum less than a week before? Short term, this would seem to provide an opportunity for celebration for creditors and financial markets in that the […]
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