Monthly Archives: June 2014

Evolution versus de-evolution.

We have copied below a brief section of a recent speech given by Jaime Caruana, General Manager of the Bank for International Settlements. His speech was titled ‘Redesigning the central bank for financial stability responsibilities’. His words (our emphasis): ‘I

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Do you see the iceberg ahead?

It is very easy to feel complacent at this time, as Western economies seem to be past the worst, and equity markets are soaring to new highs each day. What could possibly go wrong and cause another downturn? Surely a

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