It has always amazed me how the paper that purports to be the voice of business has, on so many issues taken a profoundly anti-business line. The FT told us to vote for Blair, to join the EMU and the Euro and to oppose Brexit. Natch it is all in favour of a radical green agenda even if it cripples business in the West. And it cannot get enough of the sort of ESG porn that the FCA also jerks off on every day. Today it bigs up a story about the FTSE Russell Index threatening 208 companies with expulsion. According to the FT:
Once known as the journal of record, the Financial Times has seen its readership tumble for many years following a litany of editorial misjudgments. Today it plunges to a new low of crass stupidity.
In delivering a slightly disappointing trading statement for JD Wetherspoon (JDW) which just cannot buck massive macro headwinds, its chairman Tim Martin writes from a hospital bed a few words on Brexit. If only wretched Theresa May would listen to the great man who lashes tossers like the staff of the Financial Times, the Oxbridge 1%-ers with their elitist group-think and the CBI and who opines:
We are now living through the mother of all financial bubbles and we’ve been living with it for so for so long now that it feels the norm, but it is not. A bubble exists when asset prices rise beyond what incomes can sustain. UK property prices in 2007 and tech stocks in the late 1990s are fine examples of this. History is littered with such examples. Western governments and the banking cartel of the Central Banks of the major economies in cahoots with a very compliant mainstream media, are doing everything in their vast and considerable power toconvince us that we are living in a golden era of risk-free prosperity and that tomorrow will be even better.
In this podcast I start by plugging today's weekly postcard on TomWinnifrith.com-why to go to Greece NOW and a few off the beaten track ideas on where to go. I then move onto the fate of the Euro and a discussion of what company's do NOT say that is such a red flag - reference Mosman and Audioboom.
Happy Independence day to our American listeners. My prayers are that tomorrow Greece votes for freedom and votes Oxi! But will it? And what does that mean for the Euro and shares. I note Goldman Sachs claims that a Nai vote will see global equities rise by 10%. Hmmm, I think it misses the bear in the China shop. A few thoughts brought to you from Athens in today's podcast.
I guess there were two capitalists in Syntagma Square last night as well as more than 50,000 lefties at the Oxi! Rally. The two entrepreneurs would have been myself and the chap selling Greek and Oxi flags as well as mini klaxons – he was doing a roaring trade.
This is no longer thinking the unthinkable. Greece could default on a debt repayment in eight days. Grexit - mighty Hellas leaving the Euro - is now being planned for. In this podcast I argue that Greece should embrace Grexit.
This website is about debate. You can respect or even like your colleagues and I am a massive admirer of Malcolm Stacey for the record. But you have to tell your friends when they are wrong. The way that Chris Oil looks at Flybe (HERE) is wrong and comrade Malcolm's comments on Greece and the Euro today (HERE) are wrong at every single level. I explain why in this podcast.
In this podcast I look at the results and what it means for shares, the Euro and the political classes across Europe as well as Greece, including my brother in law set to reture on a full pension in three years aged 52.
Hello Share Shiners. There's a lot of worry among UK share shifters about the way the Greek elections on Sunday will go.
At around this time every year for the past ten years, Tom Winnifrith has written a piece predicting the end of the Euro by Christmas. Despite the undoubted power of Tom’s pen, the Euro is still with us and is still carrying out its vital task of making European business more efficient and competitive. The reason why Tom makes a fool of himself every year in this manner is that he has no grasp of the importance of the European ‘project’, or what it means to our fellow Europeans.