“Till 6 o’clock in the mornin’ ye can get steamin’ in Sunny Beach an’ I’m sure there’s loads o’ people that must come back pregnant an’ call their baby Sunny cos that’s no very hard cos they’re all at it in the streets an’ that..” - Read my latest daily blog in full here
• SO IT GOES – John Fleming’s Blog
Stacy Summary: A Pew poll finds that just 11% of self-professed ‘libertarians’ could even identify what that means. As Max always says!
You don’t know what ‘libertarian’ means
If you want to know what libertarianism is all about, don’t ask a libertarian, because most of them don’t know. A new poll from Pew Research found that only 11% of those surveyed who identified themselves as libertarian were correctly able to identify the very basic meaning of libertarianism as “someone whose political views emphasize individual freedom by limiting the role of government.”
BBC World Service aired Bringing Russia to Heel this morning on Business Daily (radio).
After the discussion of Russian sanctions @7:45 min Janet Tavakoli discusses global derivatives risk and the reasons for lack of financial reform.
After Tavakoli, FT’s Lucy Kellaway takes a bite out of Apple.
Also posted on Twitter: @JanetTavakoli
The loss of purchasing power of our money via inflation is actually a historically recent phenomenon.
For much of the past 300 years, our money held its value very well — it has only been since the formation of the Federal Reserve and the removal of the dollar’s ties to gold that consistent chronic inflation has caused our money to lose substantial value as time moves on. But for anyone 50 or older, this ongoing chronic loss of purchasing power is all we’ve known – so we accept it as normal. But it doesn’t need to be…
Click here to watch the 12-minute video
Stacy Summary: Everyone knows the unipolar party is over; it’s just what comes next that remains to be seen.
Russia and economic warfare: RIP the free market new world order
Although Putin has no alternative ideology to offer, times have changed. This is now a messier, less clearly defined, multipolar world. It is not just that the pre-eminence of the dollar has been challenged by Russia’s announcement that roubles and yuan will be used in the oil deal it has brokered with China. It is not just that we are back to spheres of influence. It is not even that governments have become more interventionist and protectionist. It is that after the convulsions of the past seven years, it is hard to imagine a US president or indeed any western leader saying: “We know what works, the free market works.”
So RIP new world order. Born Berlin 1989. Died with Lehman Brothers September 2008. Laid to rest eastern Ukraine August 2014.