I couldn’t help but note the FTSE 100 chart this morning. I’ve reproduced it below, from the FT.
Now let’s get out of the way the fact that markets aren’t rational and stock indexes behave quite independent of economic reality, points I have made often.
But however you look at this graph you can’t call this a vote of confidence in the UK economy or the ConDem’s management of it:
What are the prospects for growth?
About zero, I’d say.
And the graph shows that the markets have no confidence at all that anything they’re doing will change that.