In the UK, David Cameron set of an alternative to the consensus view of increased public investment and spending, in response to deepening downturn in the economy. Is he, enlightened? economically inept? partisan? Let’s look at his proposals: • Remove tax on savings up to the basic rate of 20%. • Increase tax free allowances […]
Old China Is Broke – Wedgewood Bites The Dust
Today saw Waterford Wedgwood call in the administrators, Deloitte. Wedgwood is a traditional name in fine bone china dating back to 1759. Waterford Crystal acquired Wedgwood in 1986 and then Royal Doulton in 2005. I own a number of Royal Doulton ladies. On my wedding I was given some beautiful Waterford Crystal glasses. I expect […]
House Prices Still Falling
In the USA house prices fell around 6% this year, while the UK saw a much steeper decline of 16%. House prices are expected to fall further as the recession deepens with higher unemployment and even tighter credit. Banks are building their capital reserves and hence levels of lending remain low. We can expect the […]
Stock Markets Down 33% In 2008
Investors saw a third wiped off the value of their shares in 2008 in the USA, Europe and the UK and two thirds in China UK FTSE 100 – down 31% USA Dow Jones – down 34% France CAC 40 – down 43% Germany DAX – down 40% Japan Nikkei – down 42% China Shanghai SSE 180 […]
