Investment Strategy: the paradox of thrift is now the driving force in markets

Investment Strategy: the paradox of thrift is now the driving force in markets
News from Citywire.co.uk:

This column is no great fan of football but the terraces do sometimes make a good point. Such as: it’s easy to sing when you are winning. 

Armchair Austrians have gone silent in the past month. No one has sent Wealth Manager an oh-so-droll Hayek versus Keynes rap in some time. Austerity is no longer what the cool kids are doing.

Instead, the key phrase is the paradox of thrift. While the market was able to hold its nerve, advocating austerity was a zero sum game. Having lost it, the costs are writ large in every PMI.

As Guy Monson – a man intellectually nimble enough to resist easy pigeonholing – pointed out in a recent Wealth Manager column, not all economic costs are immediately expressed in gil…………… continues on Citywire.co.uk
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