LATEST NEWS: Russia’s economic crisis could easily end in yet another sovereign default

It was a lesson that Norman Lamont learnt the hard way when he was Chancellor of the Exchequer in 1992. You can’t buck the markets when they really turn against you. Back in the day, sterling was part of the Exchange Rate Mechanism, following a disastrous decision by John Major to enter the economically illiterate […]

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LATEST NEWS: Savings accounts are at risk as long as JP Morgan CEO gets everything he wants

If you want to understand what’s wrong with the US financial system, start by asking this question: why does Jamie Dimon always get his way? Dimon is the charismatic chief executive of the nation’s biggest bank, JP Morgan. JP Morgan has $2.5tn in assets and holds more than 10% of all the savings deposits in […]

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LATEST NEWS : Spreading deflation across East Asia threatens fresh debt crisis

Deflation is becoming lodged in all the economic strongholds of East Asia. It is happening faster and going deeper than almost anybody expected just months ago, and is likely to find its way to Europe through currency warfare in short order. Factory gate prices are falling in China, Korea, Thailand, the Philippines, Taiwan and Singapore. […]

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LATEST NEWS : Zero growth best hope for Germany as confidence disappears

German business confidence continued to deteriorate in October amid fears that the eurozone could enter a triple-dip recession. The Ifo Economic Institute’s closely-watched business climate index tumbled to 103.2 in October, from 104.7 in September. This was well below economists’ expectations of a slight fall to 104.5 and represents the sixth consecutive monthly decline. continue […]

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LATEST NEWS : World braces as deflation tremors hit Eurozone bond markets

Eurozone fears have returned with a vengeance as deepening deflation across Southern Europe and fresh turmoil in Greece set off wild moves on the European bond markets. Yields on 10-year German Bund plummeted to an all-time low on 0.72pc on flight to safety, touching levels never seen before in any major European country in recorded […]

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LATEST NEWS : Europe will never be the same after Scot vote, nor will British euroscepticism

Each of Europe’s aggrieved clans sent witnesses to Scotland for the vote. Some were nationalities seeking statehood, some more explosively seeking Anschluss with a mother country broken by victors’ cartography after the First World War. continue reading at telegraph.co.uk

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LATEST NEWS : America: your days as a global superpower are numbered

They say what goes up must come down. It’s been true of every global superpower throughout history, and now it’s coming to America. Within the next five years, China could account for a larger share of global GDP than any other country and knock the US off its perch as the world’s biggest economy, according […]

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LATEST NEWS : The Exaggerated Death of Inflation

Is the era of high inflation gone forever? In a world of slow growth, high debt, and tremendous distributional pressures, whether inflation is dead or merely dormant is an important question. Yes, massive institutional improvements concerning central banks have created formidable barriers to high inflation. But a significant part of a central bank’s credibility ultimately derives from […]

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Nobel gurus fear globalisation is going horribly wrong (technical)

David Ricardo’s Theory of Comparative Advantage has broken down after 200 years, or so I learned at the Lindau forum of Nobel laureates in Bavaria. The theory published in 1817 has been a guiding principle of free trade, taken as a given by every student of economics in the modern era. It has served us […]

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LATESt NEWS : Paul Singer: This threat is 'head-and-shoulders' above all others

Billionaire hedge fund manager Paul Singer has issued an unusual warning for investors, calling the threat of a widespread blackout from an electromagnetic surge the “most significant danger” in the world. continue reading at cnbc.com

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