Daily Archive: February 10, 2018

Feb
10

Britain’s sad circular journey: from empire to Efta to Brussels to Brexit

A glance at Britain’s history with Europe reveals that, then as now, we are worse off outside a union than we are inside it

When I was a schoolboy it was common practice to go to the cinema (or “the pictures”, as we used to say) and arrive well after the start of a double bill. We would then stay until the action in the first film had reached the point where we had come in.

As this country becomes the laughing stock of the world in regard to the so-called “negotiations” about Brexit, we find that, hey presto, this is where we came in.

In our 45 years of membership, we have built up tens of thousands of links that it is absurd to try to remove

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Feb
10

Test of nerve for markets as 10 years of cheap money come to an end

With economic signals positive and interest rates set to rise, recent turmoil is just the start of a rollercoaster ride for shares

Stock markets are heading for a wild ride this year as central bankers strap on their bullet-proof vests and test investors’ willingness to accept higher interest rates. Last week’s share price crashes, which in two days wiped $4 trillion off the value of markets around the world, was just a foretaste of the battle to come.

In the days following Monday’s crash, share values have recovered strongly only to dive again as competing theories about the path of interest rates and the likely impact on economic growth fight for attention.

Related: Donald Trump says stock market is making a ‘big mistake’ after drop

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Feb
10

John McDonnell: Labour public ownership plan will cost nothing

It wants services such as water put in the hands of workers – which the Tories say would cost billions.

Feb
10

1950s prosperity or 1970s crash? Two ways a US interest rate rise could go

An interest rates expert ponders outcomes for the US economy as the central bank looks set to end the era of cheap money

Remember Quantum Leap? In the sci-fi show, time traveling scientist Sam Beckett would wake up in another era and have to work out where he was in history before solving this week’s mystery. Well, that’s the position the world’s economists and traders are in this week.

Since the end of the last recession, interest rates have been at a historic low. Now, with wages rising and the global economy booming, central banks look set to end the era of cheap money. As stock markets panic about the short-term impact on share prices, Richard Sylla, the co-author of the seminal A History of Interest Rates, poses a longer-term question: where are we? The 1950s or the 1970s?

Everything tells me the trend is going to be up. The question is, what sort of trend will it be?

Related: Making millions from chaos: the fund cashing in on the stock market collapse

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Feb
10

Israel Strikes Iran in Syria and Loses a Jet

Israel said it had launched a major attack after its F-16 came under Syrian fire. The events appeared to be Israel’s first direct engagement with Iranian forces in Syrian territory.