“How many divisions does the Pope have?”

This morning: As markets shake off their summer slumbers, what should we be worrying about? Lots..! From real vs transitory inflation arguments, the long-term economic consequences of Covid, the future for Central Banking unable to unravel its Gordian knot of monetary experimentation, and the prospects for rising political instability in the US and Europe.

Same as, same as….  

Not an Apology

I’ve been told I should apologise for yesterday’s Porridge. A reader unsubscribed because I don’t treat Tesla seriously. (Shock, horror.. somehow I shall live with the pain of rejection…) Another commented: “hating Tesla must be a very difficult way to make a living.” Sure. I agree – it is. In my private Jihad versus Elon Musk I have missed massive market upside… but then again, it’s not my job to pump up illusory market valuations. It’s to paint the picture as I see it, and caution foolish markets about their gullibility. I will continue to characterise Tesla as an unjustifiably overpriced automaker, pretending to be something else, run by a narcissistic show-boater.

Meanwhile…

What should we really be worrying about?……

• China?
• US Politics in the wake of the Afghan Skedaddle?
• Overpriced Markets and Asset Bubbles?
• The future of Tech and ESG?
• Central Banks trapped by the consequences of their own monetary experimentation?
• Boom or Bust post Covid Economies?
• Inflation, Deflation or Stagflation?

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