Trying to write a commentary about the UK stockmarket is very difficult at the moment. But despite t...
Trying to write a commentary about the UK stockmarket is very difficult at the moment. But despite the extreme and rapid daily changes, some strong themes have emerged in the UK economy and stockmarket. The modern banking model is broken. Rising defaults have triggered bank failures and an almost complete lockdown in new lending. For the banking system to get back to a more sustainable balance between loans, deposits and equity, the overall amount of debt in the economy is going to come down. This will mean that people who already have a lot of debt are going to be pressurised to pay do...
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