This week on FT Alphaville,
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A word of caution in advance: the optimal structure is deeply complex, which itself should raise concern in the minds of investors…
Mann is suggesting that incentivising measures should include a suspension of all town centre car park fees up to Christmas, a reduction of Vat on DIY product, a crash programme of building pensioner bungalows and a re-introduction of green technology incentives such as solar panels.
If only the ECB had a shared Google Calendar with Germany’s constitutional court, this would be so much easier. From Bloomberg on Friday:
European Central Bank President Mario Draghi may wait until Germany’s Constitutional Court rules on the legality of Europe’s permanent bailout fund before unveiling full details of his plan to buy government bonds, two central bank officials said.
Live markets commentary from FT.com
If life seems jolly rotten, there’s something you’ve forgotten
And that’s to laugh and smile and dance and sing [and buy stocks]
When you’re feeling in the dumps, don’t be silly, chumps
Just purse your lips and whistle [and buy stocks], that’s the thing
— By Eric Idle
Asian stocks followed US markets downwards on concerns US easing may not materialise, and on growth in Europe and China. The MSCI Asia Pacific was 1.1% to 120.52 as of 11:46am in Tokyo, erasing this week’s advance (Bloomberg).
Gold standard’s Republican revival: A “gold commission” to look at restoring the link between the dollar and gold and an audit of Fed policy is set to become part of official Republican party policy. A commission would have no power except to make recommendations, but the move shows how easy monetary policy – and the efforts of libertarian congressman Ron Paul – have made the once-fringe idea of returning to the gold standard a legitimate part of Republican debate (Financial Times). Read more