[Re: This irrational tech boom risks the health of the global economy, Friday]
I agree with Guy Hands’s analysis of tech stock valuations. And I support the idea that the tech bubble is being fuelled by cheap money – although the same is also true of the S&P and the FTSE, by and large. The economic recovery has not been real, but an illusion created by cheap money and other interventions. Banks have, of course, talked up the value of tech stocks pre-IPO to make demand for their own off-load. The idea that the stock market is a leading indicator of the economic future is becoming somewhat diminished.
[Re: The Asian powderkeg could blow the world back into a 1914-style disaster, yesterday]
There is a big difference between now and 1914. In those days, the ordinary people of Europe were eager to go to war. The old values reigned: to be a man, to fight, to be part of a real “show” (as they called it). “Pro patria mori” and “King and Country” still counted. This is no longer the case.
It’s not just the big players we should worry about in Asia. Tiny Singapore accounted for 4 per cent of global weapons imports between 2008 and 2012.
BEST OF TWITTER
Ukraine government: referendum a “farce”. Poorly organised, limited scope, but Kiev unwise to dismiss.
ICM/Guardian poll shows Tories ahead by 2 per cent. With 12 months to go, it’s a disaster for Miliband.
We need to reform and simplify our tax system, not Gary Barlow’s OBE.
Maybe if people were taxed less, they wouldn’t go to such extraordinary lengths to avoid tax?