{"id":87463,"date":"2025-11-11T08:17:34","date_gmt":"2025-11-11T08:17:34","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=87463"},"modified":"2025-11-11T08:18:18","modified_gmt":"2025-11-11T08:18:18","slug":"the-higher-the-ftse-rises-the-further-it-will-fall","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2025\/11\/11\/the-higher-the-ftse-rises-the-further-it-will-fall\/","title":{"rendered":"The higher the FTSE rises, the further it will fall"},"content":{"rendered":"

There was contrasting news from the Guardian's<\/a> Live business and economics coverage last night and this morning.<\/p>\n

First, there was this:<\/p>\n

\"\"<\/p>\n

And then this:
\n\"\"<\/p>\n

Then note that this means that the FTSE 100 has risen by 20% this year - something that is impossible to sustain.<\/p>\n

And now note this:<\/p>\n

\"\"<\/p>\n

And then this:<\/p>\n

\"\"<\/p>\n

I recently discussed<\/a> Thomas Piketty's suggestion that when R > G \u2014 meaning that the rate of growth in the returns to capital (including gains) exceeds that of the economy as a whole (G) \u2014 inequality is bound to rise. Throw in falling wage rates, and right now, this is happening at an almost record pace.<\/p>\n

This, I can assure you, is not sustainable. Anyone who pretends it might be is deluding themselves. The crash has not happened yet, but it will.<\/p>\n","protected":false},"excerpt":{"rendered":"

There was contrasting news from the Guardian’s Live business and economics coverage last night and this morning. First, there was this: And then this: Then
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[204,35],"tags":[],"class_list":["post-87463","post","type-post","status-publish","format-standard","hentry","category-economic-justice","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/87463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=87463"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/87463\/revisions"}],"predecessor-version":[{"id":87469,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/87463\/revisions\/87469"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=87463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=87463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=87463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}