Have the tables really turned?
It appears the economic crisis is tilting the balance of power gradually away from the U.S. It seems Washington is beginning to relate to China as a respected partner. The tables seem to have turned around and this time it is the US who is having to answer to China for not behaving properly (financially).
It appears some bank have not learnt from the financial crisis. Perhaps they enjoy taking risks and have forgotten the difference between a well calculated risk from an irresponsible one. Read the rest of this entry »
There are definite signs in the housing market but some measures are picking up. Is it too early to call upon in the housing market? This is always a difficult call to make because house prices are local, although they are linked in general to a nationwide trend which clearly is still on a downward trajectory.
In this recession, UK is about 15 months behind the US and so we should look to the US to see what we can expect from the future.
Jim Rogers, the man who co-started the quantum fund with George Soros, the man who famously drove the UK from the exchange rate mechanism and brought down the Major government, has been appearing on media outlets around the world with a stark message for the British public.
Rogers believes that the economy is doomed for decades. He says this with great sadness because he was educated in the UK and he loves it here. His reasoning is quite simple. Read the rest of this entry »