Confusion, conflict and contradictions….

Monday 1st August 2016

In this issue of Money Truths….

  • An unanticipated spurt of growth….
  • The unfathomable jigsaw puzzle….
  • The gloomy and the glum….
  • Reasons to be cheerful….
  • Sometimes we expect too much of information….

An unanticipated spurt of growth….

The really big news last week came on Wednesday when the Office for National Statistics reported that Britain’s Gross Domestic Product (GDP) had grown 0.6% during the second quarter of 2016 – the three month period up to June.

GDP is a measure of economic activity and represents the total value of goods and services produced and consumed during the period in question.

Analysts expressed surprise that the economy had grown as much as it had. Prior to last week’s announcement they’d been talking down expectations.

City of London economists – the real top-drawer & top-dollar prognosticators – had predicted Q2 growth of no more than 0.4%, in line with growth in the first quarter of the year.

The fact that these well-funded, well-resourced and well-paid seers into the future fell short with their clairvoyance is neither here nor there. Getting it wrong is what they do at least half of the time.

The important thing is that unanticipated spurt of growth.… Click here to read more

Italy – epicentre of the next financial earthquake….

Monday 25th July 2016

Good morning, friends,

In this issue of Money Truths….

  • No financial Armageddon – at least not yet….
  • The rebalancing act….
  • The dangerously sick man of Europe….
  • The bail-out is coming….
  • The natives are restless….

No financial Armageddon – at least not yet….

Prior to the Referendum on EU membership, we were subjected to ‘Project Fear’.

The incumbent Prime Minister, his Chancellor, senior politicians, business leaders and other ‘Influencers’ all promised the British people misery, mayhem and catastrophe if we were foolish enough to vote Leave….

‘Britain would be poorer by £4,300 per household….’ (George Osborne, 27th February 2016)

‘The value of people’s homes will be affected and people trying to get on the housing market will be hit….’ (George Osborne, 8th May 2016)

‘Across Britain as many as 820,000 jobs could be lost….’ (George Osborne, 23rd May 2016)

Health Secretary, Jeremy Hunt, said the NHS would be ‘starved’ of cash. Energy Secretary, Amber Rudd, said energy bills would ‘soar’. Education Secretary, Nicky Morgan, said a Brexit vote would ‘devastate’ the life chances of children and young adults….

We were told businesses would vacate the country overnight. President Obama told us we’d be at the back of any trade-deal queue….… Click here to read more

100-years-old and still working a day job?

Monday, 18th July 2016

Good morning, friends,

In this issue of Money Truths….

  • I will never retire….
  • Depending on the ‘silver-haired’ brigade….
  • Ivan Roitt – you don’t get too many of him to the pound….
  • From the realms of science fiction….

I will never retire….

I cannot imagine ever ‘retiring’ in the conventional sense of the word….

Reaching retirement age is one thing. Quitting work altogether is another thing entirely. For me, getting to 65 or 68 years of age is not a cue to deepen my relationship with daytime TV or to retreat into a life that consists of reading the Daily Mail cover-to-cover every morning and visiting the local garden centre once a week.

Call me unique and peculiar but I enjoy work. I always have. And I don’t see that reality changing simply because the candles on my birthday cake have increased in number.

Life is short. Time is limited. And I want to make full use of every minute I have available to me. There are things I want to achieve. I have a long list of things I want to do. I want to be productive for as long as I can be productive. And I see age as no bar.… Click here to read more