Japan, the need for good luck and good policies.

Nikkei Veritas – Market Eye column, 2nd December 2009 In my last article I took an upbeat view about the election of the new DJP government. I expressed the hope that this would lead to a major change in the economy as well as in politics. For this to happen the...

It is not so difficult to identify an asset bubble.

Financial Times (Letters) , 11th November 2009 Sir, All asset bubbles present a risk to the economy, contrary to the views expressed in Frederic Mishkin’s article of 10th November. Asset prices are a key transmission mechanism whereby changes in interest rates affect...

Come The Revolution …..

FS Focus , 1st November 2009 This article first appeared in FSFocus, the membership magazine of the financial services faculty of the Institute of Chartered Accountants in England & Wales. For financial planners and investment managers, efficient market hypothesis...

A test of nerve.

Money Observer – special 30th anniversary edition, 1st October 2009 We know what went wrong in financial markets, but opinion is divided as to whether the response has been adequate. Andrew Smithers argues that only courageous political action will prevent a...

A New Era For Japan?

Nikkei Veritas – Market Eye column, 29th September 2009 There is a reasonable chance that the election of the new DJP government is a signal of a major change in the economy as well as in politics. I have regularly pointed out in previous articles, that the...

No reason for governments to encourage folly.

Financial Times (Letters) , 25th September 2009 Sir, In your editorial, “G20 must not let unity unravel” (September 24), you argue that banks need a great deal more equity capital and quote the International Monetary Funds’s estimate of $1,700bn. You...