Investment Markets Overview – w/e 23rd May 2014

We led last week with, “the World’s largest democracy, India, announced its vote for change and by the widest margin in 30 years,” going on to suggest, “there may be lessons here for the UK and for the US, both led by youthful”masters of spin,” not to mention the European Union, perhaps the most un-democratic system on the planet, run by unelected bureaucrats’ who lust for evermore central control. Next week’s European elections could also throw up some interesting results.” Well, one week later and the people have voted in a political earthquake. The populist U.K. Independence Party made sweeping gains in local elections in Britain, leaving its mainstream parties scrambling for a response, but also Anti-EU parties across most of Europe have made substantial gains, albeit that voter turn-out remained near a record low of 2009, at 43 percent, comparable to midterm U.S. congressional elections. Whilst the established policy-makers debate “what has changed,” citing the call for tighter immigration policies, the ever closer integration of Europe and the real power lying with unelected bureaucrats,’ where they fail to “join up the dots” is the collective social mood, which has been turning more negative for a few years now, and the effect on it of an unsustainable credit bubble, aided and abetted by the main Central Banks. Let’s not also forget the rapid and fundamental changes described as the Arab-Spring, the polarisation apparent within Spain, Greece, the UK (Scotland) and now within Ukraine and Thailand. Perhaps ironically, as the establishment scratch their collective heads,’ Russia’s Putin stated the following at an economic forum in St Petersburg this week, “the model of a uni-polar world has failed, everyone can easily see it today, even those who try to act in the usual manner, to keep their monopoly, to dictate their rules of the game in politics, commerce and finance, to impose their cultural and behavioural norms.The world is multi-polar, people want to decide their own destinies, preserve their cultural and historical identities and civilisations.”

23 May 14

Due to travel committments this week’s edition was truncated, but if you would like to view last week’s Investment Market Overview click here


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