Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.
BTW, clicking on most charts will produce the original-sized, i.e., bigger version.
Saturday, August 27, 2011
Here's my chart of year-on-year growth in OECD and BRIC industrial production (2007 GDP weights) OECD growth appears to be still decelerating, though more slowly. Growth in Europe has basically stopped (chart not shown). Once again, the ECB (European Central Bank) has demonstrated its rank incompetence. It needs to cut rates now, before it's too late. Certainly it ought to be doing some fairly serious quantitative easing. The US is OK, Eastern Europe is growing slowly but still positive (chart not shown), and the BRIC countries continue to grow solidly (on average) though a biggish chunk of that is now coming from China.
Posted by Nikolaos at 2:18 PM