by Damon de Laszlo, ERC Chairman September so far seems to be more like mid-summer with the highest temperatures on record in the UK, capping even the June heatwave. The weather pattern seems to be mirroring the UK’s national statistics that yoyo from positive to negative to positive numbers with monotonous regularity. Central Bank […]
July 2023
by Damon de Laszlo, ERC Chairman July brings some relief from the scorching hot days of June for the UK. The unprecedented heatwaves in southern Europe and central US hopefully will focus minds on the global- warming issue. A long-term problem that is arriving as the long-term becomes short-term. The global meetings that agreed […]
June 2023
by Damon de Laszlo, ERC Chairman May probably was the tipping point for Western economies when the projected economic downturn started to appear in the statistics. June is showing more evidence with property prices clearly going off the top and defaults now starting to rattle the banks’ view of their property loan book. Lay-offs […]
May 2023
by Damon de Laszlo, ERC Chairman Contrary to initial projections, the pace of economic slowdown has been less pronounced as we approach the midpoint of the year. Western economies have proved much more resilient than anticipated. In 2020, it was becoming clear that the liquidity that had been poured into the world’s economy over […]
March 2023
by Damon de Laszlo, ERC Chairman In February we were anticipating the beginning of an escalation in the rate of bankruptcy. Central banks’ policies of raising interest rates in quantitative tightening are their tools for controlling inflation. Historically, this basically means bank loans become more expensive and more difficult to obtain, leading to business […]
February 2023
by Damon de Laszlo, ERC Chairman There is considerable reason to be optimistic as I mentioned in my last Daberiam, but that should be applied to the latter part of this year running into next year. Today, however, the stock markets are running hot, and there seems to be an over-optimistic view of the […]