Tweet of the week
“We’re a £ trillion in debt and Andy Burnham’s issuing statements about Frosties.
#SpareMe #LabourWasters”
- Marcher Lord @MarcherLord1
“An investment operation,” wrote Benjamin Graham and David Dodd in
1934’s ‘Security Analysis’, “is one which, upon thorough analysis, promises
safety of principal and a satisfactory return. Operations not meeting these
requirements are speculative.” So congratulations are due to the Federal Reserve,
the Bank of England and the European Central Bank. Having slashed policy rates
(and therefore by natural extension cash deposit rates) to all-time lows,
typically well below inflation (however defined), these bodies have managed to
turn just about every investor in the world into a speculator. Legions of
savers have felt compelled to play the stock market just to keep their capital
above water. Having forced reluctant punters into uncertain waters, will the
central banks ensure that these bathers aren’t swamped ? Can they even ? Should
they ?
To read more,
Download Eastern promise
Comments