Investment Markets Overview — W/E 24th October 2014

Governments worldwide are on a tax-grab to alleviate necessary austerity measures, particularly as effective austerity means big government has to slim down and they don’t like that, preferring to pass on the pain to their electorates. Of course, to pander to the masses they have dressed up increases, such as “mansion taxes” and “air passenger duty,” under the banner of “fairness” in that the wealthier members of society should contribute more, failing to recognise that the taxes often harm the less well-off disproportionately or mentioning that politicians and the upper levels of the supporting bureaucracy will either be exempted or have it paid for by the tax-payer to whom they are trying to be fair. This week there were two more attempts at “fairness,” announced, one from that bastion of efficient “value for money,” the European Commission, the other from Scotland, flexing its recently devolved powers to raise taxes. There is more on the Scottish Nationalist’s plan on “fairness” below, whilst the EC’s brainwave is to demand extra payment from member states who it perceives to have been the more successful economies of late, including the UK and the Netherlands, who are saddled with the largest bills, but also from other “successes” Italy, Greece and Cyprus (not a typo!) Meanwhile, the beneficiaries of this “redistribution of wealth,” will include the current lead-basket case called France, followed somewhat perversely by Germany, the locomotive of EU growth.

24 Oct 14

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Additional Commentaries:
•US economic data . . .
•Euro-Zone . . .
•The UK . . .
•Out East . . .
•The $US index . . .
•Within the commodities complex . . .
•Economic data due next week includes . . .

Scotland’s Finance Secretary, John Swinney, announced the “Land and Buildings Transaction Tax,” this week, designed to reduce inequality …..

Charts:
1.Indices Weekly
2.US House prices V US Home Sales
3.E-Z Debt / GDP Levels
4.China House Prices V China GDP
5.Commodity 1 Week Moves

Table:

13 Indices, 11 columns of detailed information, for accurate analysis

Politics and Fairness have become Strange Bed-fellows

Click Here to view Details of the full version of this Newsletter which includes full text and detailed Charts for each section

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