Very few people pay attention to the debt ceiling risks, and for a reason. The debt ceiling has been raised 74 times since March 1962. I commented it in the BBC as far as 2013 (here). It is, therefore, logical that investors and citizens believe that it will be raised yet again in September. Continue reading The Debt Ceiling… And Why It Matters
Category Archives: On the cover
Are Central Banks Nationalising the Economy?
The FT recently run an article that states that “leading central banks now own a fifth of their governments’ total debt”.
The figures are staggering. Without any recession or crisis, major central banks are purchasing more than $200bn a month in government and private debt, led by the ECB and the Bank of Japan.
Continue reading Are Central Banks Nationalising the Economy?
Is The Euro Crisis Really Over?
This week we have read that Brussels has certified “the end of the crisis”. In an uncomfortably triumphant statement, the group welcomed the fact that Europe had emerged from the crisis and returned to growth “thanks to the decisive action of the European Union”.
Cautious On Global Trade Growth
We have long warned about over-optimism regarding inflation expectations, global trade and GDP growth. Continue reading Cautious On Global Trade Growth