What’s going on? Why haven’t UK exports surged on the back of a weak pound as most economists expected they would?
The idea that a lot of shopping translates into a healthy economy is dubious. On the three prior occasions when retail sales have been this strong, consumption was either falling or showing only modest growth at best.
The head of JP Morgan, Jamie Dimon should be given some credit for bravery, or chutzpah or something. Following Bob Diamond of Barclays the other week in front of British MPs, Dimon has travelled to the World Economic Forum in Davos to call for a stop to “banker bashing”. Hi s argument, like Bob’s, is that not all banks went bust in the crash – a “huge misconception” – and that JP Morgan and others were a “stabilising” influence. They would no longer “bend down and accept” the insults and abuse.
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