Financial crises escape control when liquidity dries up and any meaningful relationship between price and value is lost. Human intelligence can fix this – AI can’t.
As former ECB boss Juncker said, we all know what to do but don’t know how to get elected when we have done it.
This week’s letters discuss why physical money still matters and Britain’s high grocery retail margins.
With growth more resilient than expected, equity markets are back in fashion. This is a reversal of the dominant trend of 2022.
Unease is in the air as the US debt ceiling debacle rages.
The centre of attention will be the US dollar itself which you might recall is on the retreat from its October highs.
Neil Collins’ Notebook: The Chancellor is at the mercy of the markets as the Budget approaches.
With further interest rate rises on the way, and the UK probably already in recession, financial stress is likely to mount.
Big economic changes since the then-Chancellor’s Spring Statement in March mean the 17 November mini-Budget is going to be tough for everyone.
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