The world must escape its zero-sum mindset

The world must escape its zero-sum mindset

Today, India begins its G20 presidency. The previous 17 presidencies of the G20 delivered significant results – for ensuring macro-economic stability, rationalizing international taxation, relieving the debt-burden on countries, among many other outcomes. We will benefit from these achievements, and build further upon them. However, as India assumes this important mantle, I ask myself: can … Read more

Let’s not pretend the mini-budget is the sole cause of falling house prices | Nils Pratley

“The fallout from the mini-budget continued to impact the market,” says Nationwide’s economist chief, explaining the 1.4% decline in house prices in November. There’s never a wrong moment to kick Liz Truss and Kwasi Kwarteng’s excursion into fantasy economics – and, yes, the shambles, and the spike in bond yields, will have been a factor. … Read more

Labor demands action over 18,000 ‘lost’ train services in north of England | rail industry

Ministers have insisted the crises at Avanti West Coast and TransPennine Express are partly the fault of rail unions, as Plowing demanded action over claims that 18,000 northern services had been “lost” in a month. The rail minister, Huw Merriman, told MPs the government would be deciding early in the new year whether to renew … Read more

All those 2023 economics and markets outlooks, distilled

All those 2023 economics and markets outlooks, distilled

The thing about macroeconomic forecasting is that it’s extremely complicatedas illustrated by the below chart from Morgan Stanley: © Morgan Stanley Yet even allowing for these many complexities, 2022 has been a challenging year to predict. Its outlier status can be demonstrated by this 322-year data snapshot from Bank of America: © Bank of America … Read more

November US ISM manufacturing index 49.0 vs 49.8 expected

November US ISM manufacturing index 49.0 vs 49.8 expected

November US manufacturing PMI from the Institute for Supply Management Adam Button Thursday, 01/12/2022 | 15:00 GMT-0 01/12/2022 | 15:00 GMT-0 Priority was 50.2 Estimates ranged from 48.0 vs 50.4 Prices paid 43.0 vs 47.5 expected (prior 46.6) Production 51.5 vs. 52.3 prior Employment 48.8 vs 50.0 prior New orders 47.2 vs 49.2 prior Order … Read more

The Tories’ wind power delusion

The Tories' wind power delusion

A very strange parliamentary rebellion has been taking place with Boris Johnson, Liz Truss and dozens of other Tory MPs demanding an end to the ban on onshore wind farms. Wind power is cheap and getting cheaper, they argue. And surely, if we’re engaged in an energy war with Russia, we need all the power … Read more

Brexit Britain trapped in the middle as US and EU go to war on trade – POLITICO

Brexit Britain trapped in the middle as US and EU go to war on trade – POLITICO

Press play to listen to this article Voiced by artificial intelligence. LONDON — Three years after leaving the EU to chart its own course, Britain finds itself caught between two economic behemoths in a brewing transatlantic trade war. In one corner sits the United States, whose Congress in August passed the Biden administration’s much-vaunted $369 … Read more

One of us is a millionaire, the other a care worker. The cruel divide between rich and poor disgusts us both | Julia Davies and Winsome Hill

Julia Davies is a member of campaign group Patriotic Millionaires The two of us are from very different worlds. One of us is a millionaire investor, the other a care worker and trade union member. We have totally different experiences of the economy, but we share a fundamental belief that it is broken – and … Read more

The Great Wall (Of Indifference)

The Great Wall (Of Indifference)

Anti-government protests in China have spread like. . . a highly infectious disease of the upper respiratory tract. This should ring the bell on the recent rip in Chinese equity. Lockdown. Crack down. Go down. While the politics and unrest hog the headlines short-term, the dilemma for emerging market funds is a big one. Are … Read more