The FTSE seems to be getting the message that there's a recession coming:
These things can reverse, I know. Maybe it will. But it is hard to see a good reason why it should for some time to come. We are facing recession, war, long-Covid, inflatiobn and universal central bank incompetence in the face of these threats. You have to be a quite exceptional optimist to spot rising value in such a situation. My suspicion is that this supposed store of value will see its bubble burst for some time to come.
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Who knows what will happen in a ‘market’ that sees itself as the ultimate knowledge generator when it is under pinned by emotion like this one – including (ahem) ‘excessive exuberance’?
The best places to look are always surely metrics on what goods and money is shifting through the global system.
Damn, and just when I’m about to retire in August!
“We are facing recession, war, long-Covid, inflation and universal central bank incompetence” – Richard Murphy.
Yes, and add to that, post-Brexit decay and sclerosis.
Agreed