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Affordability a key trend for Western markets

The Red Queen in the classic book, Alice in Wonderland, would have recognised today’s financial markets when she boasted “Why, sometimes I’ve believed as many as six impossible things before breakfast.” Fellow blogger Doris de Guzman noted one great example last week, when questioning whether Facebook could really be worth the combined value of Dow, […]

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2008 Budgets just became more difficult to finalise

Central bankers are like generals. They seem to prefer fighting their last war, rather than preparing for the next one. How else to explain their continued reluctance to recognise that higher food and energy prices are here to stay? As a result, interest rates now need to rise more than expected. Pity those who have […]

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