One size does not fit all
Look at the literature over the last hundred years or so, and you will see 2 classes battling for the economic upper hand. They are Labour and Capital.
Karl Marx based his whole theory around this battle. While classical and neoclassical economists portrayed it in less confrontational terms, much of their theories were still based around competition between these two classes.
Enter the third class – Consumers.
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RETIREMENT INCOME SEMINAR
Important issues for retirees: Estate Planning, Investment, Income...
Details and RSVP:
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1. Changing Times
For several years, we have been in an environment of ever falling interest rates, as Governments have relied on monetary policy to fix the damage wreaked by the GFC.
However, while this has arguably prevented some really horrible things from happening (such as a world-wide depression), it has not succeeded in making good things happen. Now many are looking to more Government spending to boost economic growth. In this context president-elect Donald Trump spoke on election night of modernising America’s often old and creaking infrastructure and making it the world’s best. Depending on the scale, this would indeed be a game changer. If successful, it could also draw other countries down this path, as well as lead to rising (instead of falling) interest rates.
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In certain parts of the financial world, we are meant to provide advice that is “clear, concise and unambiguous”.
This is a very worthy goal. A quick glance at some stock exchange announcements shows that “clear, concise and unambiguous” is often missing in action.
Announcements are often couched in terms that are unintelligible to ordinary people. It is as if they have been framed so that only members of the “financial tribe”, who are schooled in that tribe’s mind numbing jargon can hope to understand.
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Two major global events this year have defied the expectations of the media, be it mass media, social media, or any other media.
I refer to Brexit, and Donald Trump’s win in the US elections. If you followed the build up to both events, you would have thought that there was no way either of these events could turn out the way they did – let alone both.
Furthermore, the chatter beforehand held that either event would lead to the collapse of the stockmarket, and the economy going down the toilet.
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