Liam Halligan writes the Sunday Telegraph’s Economic Agenda column.
‘What is a Minsky moment, anyway?’ asks Gerry Stembridge, an Irish satirist. ‘I’ve been reading about them in the papers and have often wondered’. Stembridge is putting the question to Paul McCulley, chief economist at Pimco, the world’s largest bond fund with over $200 billion under management, one of the ten most influential economists on
After months of escalating tensions over Ukraine and talk of a new cold war, Russia and the West could soon reach a surprising rapprochement. The eurozone economy is suffering badly and sanctions against Russia are partly to blame. Winter is also upon us, and that reminds every-one Vladimir Putin still holds the cards when it
[audioplayer src=”http://traffic.libsyn.com/spectator/TheViewFrom22_24_July_2014_v4.mp3″ title=”Liam Halligan and Adam Memon discuss whether another financial crisis is on the way”] Listen [/audioplayer]When I think about global stock markets these days, the image that springs to mind is the final scene of The Italian Job— the 1969 original, not the tacky 2003 remake. ‘Hang on a minute, lads,’ says Charlie Croker,
The western world is a mess. The ‘advanced’ economies are failing to generate higher living standards for the majority of citizens. Many of us believe, rightly, that our children and grandchildren will have less prosperous lives than we do. That not only runs counter to the tide of western history, but jars with natural human
‘The US stock market is rigged.’ That’s the j’accuse headline that screams out from Flash Boys, the new book by Michael Lewis. It’s a very big claim, made by America’s foremost financial writer. It’s also a claim that, after years of accumulating evidence, warrants extremely close and sustained official scrutiny. Lewis produced Liar’s Poker, his first
William Hague was on rather shaky ground when he argued this week that Moscow has chosen ‘the route to isolation’ by recognising Crimea’s referendum. On the contrary, it is the European Union and the United States who look as if they have seriously overplayed their respective hands in Ukraine. Across Asia, Africa and Latin America,
