Markets calmed a great deal on Friday. Phil Dobbie asks NAB’s Ray Attrill whether there’s renewed hope of a deal between the US and China. Perhaps it would help if President Xi played golf, because there’s been nothing but positive sentiment coming from Trump’s visit to Japan. For the next few hours all eyes will be on the European election results although, except for France and the UK, polls suggest a possible lurch to the far right is unlikely to materialise. Plus, does the bunfight for the UK’s next PM increase the chance of a no-deal Brexit? Otherwise, a quiet day today with the UK and US both on holiday. Possibly playing golf.
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Equity highs, then PMIs
Higher equities, less interest in bonds, yet there’s still the COVID risk. NAB’s Gavin Friend dives into the choppy waters we’re seeing right now.
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Bank Competition Will Only Make Things Worse
Steve Keen says the problem with the banks is not going to be fixed by having more of them. It will only encourage even more debt.
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Business cycles – what causes them?
Neoclassical economists argue that business cycles are driven by endogenous shocks. This podcast with @profstevekeen explains why they’ve got that wrong.
