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A tightening world

It’s been a big week for the major central banks. First, the European Central Bank (ECB) called an emergency meeting because government bond yields were rising sharply in the more indebted Eurozone economies like Italy and Spain.  That threatens to deliver a new sovereign debt crisis as happened after the Great Recession from 2010-2014, leadingContinue reading “A tightening world”

The scissors of slump

Last week, US Treasury Secretary Janet Yellen told the US Congress that “We now are entering a period of transition from one of historic recovery to one that can be marked by stable and steady growth. Making this shift is a central piece of the President’s plan to get inflation under control without sacrificing theContinue reading “The scissors of slump”

Food, famine and war

If anything proves that famine and food insecurity are man-made rather than due to vagaries of nature and the weather, it is the current food crisis that is putting millions globally close to starvation.  The Russia-Ukraine war has highlighted the global food supply disaster but this was brewing well before the war. The food supplyContinue reading “Food, famine and war”

Crypto unTethered

Last Thursday the $1.3tn cryptocurrency industry was hit heavily when ‘stablecoin’ Tether — a critical cog in the crypto market — briefly failed to maintain its link with the US dollar.  A stablecoin is a crypto currency coin that is tied to an existing fiat currency, namely the US dollar, making it easy to switchContinue reading “Crypto unTethered”

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