OK, call me Amerocentric, but this video is really all about the US and illegal immigration. Specifically, in the US more than 3% of people are illegal immigrants, more than twice the level of the UK, four times that of Switzerland, and something absurd relative to Norway. Now, the US has poor people on its Southern border – but probably fewer than Europe has on its. Mexico is as rich as Turkey, and a lot richer than – for example…
The US runs a trade deficit with China of $375bn. It’s a staggering number, larger than the economies of Ireland or Israel. Little wonder than Donald Trump frets that the US is being taken advantage of. But how meaningful are bilateral trade numbers anyway? Should governments aim to balance volumes of trade with other countries, or is it all a bit irrelevant? And if you impose tariffs on countries with whom you have deficits, will your overall balance of trade…
You flick a switch, and there’s light. Few of us think about how electricity is generated, and how strange and wonderful ubiquitous power is. But beneath that steady service, changes are happening. Coal, which used to dominate electricity production worldwide, is now in retreat almost anywhere, replaced by renewables and natural gas. Some blame overzealous environmental legislation. Others blame subsidies for solar and wind. The truth is… shocking… (And please click the funny YouTube button above to subscribe!) Robert Smithson…
The UK is due to leave the EU on March 29th 2019. With Mrs May’s Chequers deal rejected by the Commons, and no obvious alternative on the table, leaving the EU with No Deal and previous little preparation is looking increasingly likely. In this video, I ask ask what the consequences would be. Would food become scarce? Would the economy collapse? Or is this just another example of Project Fear? (And please click the funny YouTube button above to subscribe!)…
So: Brexit. I’ve artfully avoided addressing it in my videos so far, but the time has come. Today’s video is about Brexit. Specifically, it addresses the process through which Britain joined the EEC, and then asks what the UK government actually wants from negotiations. Why have there been all these gyrations, when the EU has proposed a CETA/South Korea type relationship already? Be warned: this video will be equally annoying to Remainers and Leavers. Robert Smithson Robert tweets as ‘@MarketWarbles’…
In my last video – Castles of Sand? – I discussed the specific drivers behind UK, and specifically London, property prices. This video is a little different. In this, I ask how properties should be valued, and how they have been valued, looking at rental yields, income multiples and other factors. I also ask whether London, as a “Global City” is simply different. Robert Smithson Robert tweets as ‘@MarketWarbles’ Follow @MarketWarbles Tweet
Only in the UK is the phrase “property porn” a real thing. Home prices dominate polite conversation. And little wonder: housing dominates UK personal balances sheets. In no other country does it make up such an enormous share of assets. Why? Because UK property has outperformed that in other developed countries in the last 38 years. This video asks why that is, and asks if the UK property wealth rests in castles of sand. Robert Smithson Follow @marketwarbles Tweet
There are many economic statistics, some broadly useful, others bizarrely esoteric. Only one manages to be both useless and dangerous. Worse: it’s trumpeted by journalists, so you may even have been taken in yourself. Welcome to the worst economic statistic. Robert Smithson Robert tweets as MarketWarbles follow him by clicking the follow button below Follow @marketwarbles Tweet