Author: Tony Redondo

Kakistocracy

21 December 2024  by Tony Redondo  For this last Gravitational Pull blog of the year, I thank the Economist magazine for their word of the year for  2024, Kakistocracy.  A kakistocracy is a government run by the worst, least qualified, or most unscrupulous citizens.  The word was coined as early as the seventeenth century.  Currency […]

UK on recession watch

14 December 2024  by Tony Redondo  Britain has been placed “on recession watch” after the economy shrank for the second month in a row in  October. In the month where Labour marked its first 100 days in office, Britain’s dominant services sector  showed no growth, and both the production and construction industries contracted.  UK GDP […]

French (r)evolution 

7 December 2024  by Tony Redondo  The French government led by chief Brexit negotiator Michel Barnier fell last week after losing a vote of no confidence in parliament. France’s oldest prime minister also became its shortest-lived. With the French  parliament split three ways, the chances of any decisive changes to policy in any direction are […]

Recession risk as Britain reels from  Reeves’s Budget 

30 November 2024  by Tony Redondo  Economists have sounded the alarm over the possibility of a UK recession in 2025 after data showed  Britain’s economy was reeling from the effects of Rachel Reeves’s tax-raising Budget.  A closely watched survey, the PMI (Purchasing Managers Index) showed activity among the UK’s private  sector companies shrank for the […]

It’s a clear thumbs down 

23 November 2024  by Tony Redondo  We have our first economic data indicators on how Rachel Reeves’ budget impacted on the UK economy and  it’s not looking good. Growth in the private sector is falling, and the verdict is a clear thumbs down.  Chris Williamson, chief business economist at S&P Global Market Intelligence said “The […]

We’re all doomed! 

16 November 2024  by Tony Redondo  Just over four months into the first Labour government for nearly 15 years, some would say the immortal  words of Private James Frazer “We’re doomed, we’re al’ doomed” are apt.  Starmer’s Labour inherited the fastest growing economy in the G7 in July. We now learn that the UK economy  […]

Trump Triumphs

11 November 2024  by Tony Redondo  Donald Trump decisively won the US Presidential election, winning both the electoral  college and the popular vote on 5 November.   In addition, his Republican party took control of the Senate and is on course for a clean  sweep in the US elections as they only need another eight out […]

Labour’s Budget Full of Economic Woe 

04 November 2024  by Tony Redondo  In a speech delivered inside 10 Downing Street after Labour’s 4 July general election  victory, Keir Starmer declared that growth and wealth creation were his government’s  top priorities. However, new Chancellor Rachel Reeves replaced a picture of former  Chancellor Nigel Lawson in her 11 Downing Street office with one […]

It’s Budget Time 

26 October 2024  by Tony Redondo  Ever since Labour’s election victory on the 4th of July, there has been intense  speculation about their first budget and endless announcements from  PM Keir Starmer and his top team about the need for ‘difficult decisions’ and ‘tough  choices’.  Finally, for better or for worse, we are now just […]

UK descends into an atmosphere of gloom

Barely 2-months after the UK general election, with the Pound Sterling still riding high against the Euro and the US Dollar, an “atmosphere of gloom” has descended on the UK 6 weeks out from the new Labour government’s first Budget, due to be delivered by Chancellor Rachel Reeves on 30 October. Currency Exchange Rates Update: […]