Another week, another bit of American conventional wisdom is shredded by Donald Trump. This time it is the CIA. Mr Trump is the president of the USA and the CIA is employed to protect him, but he doesn’t see it this way. He has turned his ire towards his own security forces and he intends to investigate them, not the other way around.
So this is what he meant by “draining the swamp”. Mr Trump is going after Washington. All the insiders who have for years populated the American capital, all the lobbyists who raised funds and bought influence, and all the civil servants who have for years filtered access to power and created policy, are now the president’s targets. He is sidestepping the media, the think-tanks and the establishment. They don’t like it, but this is what radical looks like.
We have no idea where it will all end, but one thing is clear: Mr Trump will change America forever. He is the most disruptive politician in decades.
He aims to do to the Washington establishment what Airbnb did to hotels and Uber did to taxi drivers. He aims to disrupt everything and cut out the middlemen. All the insiders, all the “know-alls”, all the tens of thousands of people who feed off the political system, these people are in his sights.
From now on, the relationship he intends to have with the American people (at least his American people) will not be mediated by the media. It will not be conditional on getting the “thumbs up or thumbs down” from the commentariat and it will not be determined by experts. It will be as one to one.
By deploying Twitter, he has cut out the media. This is radical stuff and a total departure from decades, possibly centuries, of form.
In the same way as Roman emperors sometimes bypassed the senate (an institution the emperor often mistrusted) to get to the people, Mr Trump is trying the same trick. Who knows, he might pull it off.
Whatever the end game, it is fascinating to watch.
Speaking of watching, there is a reality TV air to the whole thing. The way he treats his cabinet is like an episode of the reality show ‘Survivor’, whose motto is “Outwit, outplay, outlast“.
Who will be voted off next week? Last week it was national security adviser Michael Flynn, who’s next? Again, this is a totally new departure because that’s just not how politics was done in the past.
In the past things were less uncouth. Now there are no niceties.
If a senior member of the team isn’t performing the way the president wants, that person is fired and another one hired.
Interestingly, heartland America, which is Mr Trump’s America, loves this chaotic meritocracy. It is what they voted for. When they roared in those huge campaign meetings, “Drain the swamp”, they meant it and now it looks like he does too.
All the while, the financial markets and the economy watchers are nervously excited. Wall Street believes all the deregulation noises coming out of the White House and no one denies that American infrastructure needs massive upgrading, so a fiscal stimulus is on the cards, which will drive the economy too.
But how hard will it drive the economy? And will the Federal Reserve sit on the sidelines or will the Fed hike rates in order to rein in the government?
And if the Fed tries to thwart Mr Trump by raising rates, will Mr Trump turn on the Fed like he is turning on the CIA?
If he turns on the Fed, then we are in for a big showdown at the very heart of the American economic system.
At its most simple, the Federal Reserve under Janet Yellen believes that America is at close to full employment today and that the economy can only grow at about 2.5pc without overheating. This means that at some time, interest rates will have to be increased and this would choke off Mr Trump’s boom.
Mr Trump’s team believes that the economy can grow to 3pc or 4pc and therefore believe that the Fed shouldn’t raise rates too soon. But if the Fed goes along with Mr Trump and is seen to be captured by his will and is seen to be soft on inflation, the US bond market will sell off, driving up long-term rates.
But here is the dilemma.
This conflict between the Federal Reserve and the Treasury in the US is one of the oldest in the book. In 1981/82, Paul Volcker hiked interest rates in response to Ronald Reagan’s tax-cutting start. Mr Volcker said he had to beat inflation and the ensuing recession blighted Reagan’s first three years.
Reagan backed down.
In 1992/3, Bill Clinton was pitted against Fed chairman Alan Greenspan. Mr Clinton fought the election on the promise of tax cuts for the middle classes.
Mr Greenspan took Mr Clinton’s economic guru, Robert Rubin, aside and told him firmly that if Mr Clinton cut taxes, he’d raise rates in retaliation. If, on the other hand, Mr Clinton reneged on his electoral promise, Mr Greenspan would do nothing and long-term interest rates would fall, driving up stock and house prices and driving the Clinton boom via higher asset prices.
Mr Clinton backed down.
Now will Mr Trump back down, or will he see this as yet more technocratic, unelected insiders — the central bankers — frustrating the people’s president?
What would this mean?
It would mean Mr Trump interfering in the appointment of future Fed governors and ultimately Ms Yellen’s successor. If he is happy to go after the spooks in the CIA, I’m sure he will not be scared of a few economists in the Fed. After all, they represent to him the ultimate insiders — civil servants who are unelected. He may well make them his next target.
If that happens, all hell will break loose on Wall Street because, after all, the near 30-year boom in American asset prices has been driven on the understanding that the Fed always wins.
What if that no longer holds true?
Then all bets are off.
This is David’s best article this year, if not for many years. Mr McWilliams notices what may, at first glance, appear obvious – that Mr Trump communicates with the Americans via Twitter – but it is the implication of that fact that brought to our attention by Mr McWilliams that lend the article its deeper meaning: not only President Trump is not kowtowing to the mainstream media, but they do not seem to influence his electorate. Admittedly, there might be still some pressure coming from other directions – i.e. Pentagon or AIPAC (a bit of good humour for Sunday on… Read more »
Perhaps, Mr McWilliams, ‘The Donald’ might give you a call to be a contestant on his show , your views might appeal to him ??
It’s certainly a roller-coaster ride over there and who’s to say what is right or wrong, only time will tell. As with Airbnb or Uber there is no ideal platform for anything, every idea has it’s upside and downside,and I don’t see Airbnb or Uber investing their profits in Bitcoin………….!!!
Fucking morons on OR T E begging and pleading to let the Caspar Milquetoast Taoiseach, “go home to family and friends”, “trusted advisers and long time associates” to “make a decision on his leadership”. BULLSHIT! Saying he deserves the respect! hah hah ha ha ha FUCKING HA! Trump is his goal.Meet the Donald. Get the shamrock to TRUMP! GET the historic photo op with TRUMP! Trump will dictate the current leadership crisis, which in my estimation has been a crisis forever in Ireland given the weak turds that have fucked this Island up over the years, Trump is what motivates… Read more »
https://petitions.whitehouse.gov/petition/issue-international-arrest-warrant-george-soros
We need somebody like ‘The Donald’ to kick a few asses over here in Ireland. There are far too many dickheads and arse holes who simply haven’t got a clue about how to run a ‘piss up in a brewery on a Saturday night’ never mind how to run a country. The ‘insiders’ over in the USA have had it coming to them and now their worst nightmare seem to be coming true. It will be interesting to see what happens in France, the Netherlands, Germany and Italy once their elections take place??? It’s about time that the ‘chickens came… Read more »
It is fascinating socio-political theatre and uncharted territory no doubt. I love how Trump has turned the corporate media cartel’s ‘fake news’ meme against them. His press conferences are like nothing seen before. I subscribed to the White House Youtube channel just to watch them. But this is a serious business and the people Trump is going up against are ruthless to a degree that most of us ordinary humans cannot comprehend. If he goes too far he will be in great danger. I would say he already is in great danger. Taking on the Federal Reserve system in any… Read more »
@ Grzegorz,
Further to the unjustifiable shaneful menacing post by ShaMe F. in which he assaults [ I understand this offence he has already done inherently with his post ] u with airport security harrassment ;
http://www.aaronswwadventures.com/2013/01/leaving-tel-aviv-israel-airport-security-ben-gurion/
Seems very sociopathic ;
Asking women about their sex lives,
Making women strip their clothes off,
etc., etc., etc.
And, the above link is I presume reporting relatively tame stuff ;
And, with its host soft-balling when he can.
Disruptive technologies I’ve heard.
Disruptuve politician I like it.
Subscribe
@ Grzegorz,
U think ShaMe F. is :
“say-in-em” all offensive because … well, he is just “say-in-em” ?
& / or
a “Moss-Head” sham[e] ?
& / or
really Me-hole Martin ?
[ Mr Trump is the president of the USA and the CIA is employed to protect him, but he doesn’t see it this way. ] I wonder what Jackie Kennedy Onassis would make of anybody saying that the CIA is employed to protect the elected head of the US government, given the manner in which JFK was murdered ? I am reading James Howard Kunstler, with regard to the Deep State bureacracy who have taken over the US government, and are relentlessly carrying out actions that are imperialistic in nature, and are not representative of any of the good naure… Read more »
[ He aims to do to the Washington establishment what Airbnb did to hotels and Uber did to taxi drivers. He aims to disrupt everything and cut out the middlemen. All the insiders, all the “know-alls”, all the tens of thousands of people who feed off the political system, these people are in his sights. ] Trump is coming at Washington, and the entire power complex in the US from the perspective, that they are responsible for the state of much of the USA. And, he may well be correct. The most glaring example of sheer incompetence from the “know-it-alls”… Read more »
Renzi in Italy has resigned leadership of his party. He is unable to overcome Grillo. It does not look like there is anybody else who can regain the electorate lost to Grillo. Grillo is in leading position to be Italy’s next PM. Macron will win the French presidential election, because Fillon will not get past round 1, and Le Pen will not win round 2. And Schulz will win next the German election, with either the CDU assisting him, or the Greens. The EU Commission is headed by Juncker and includes Phil Hogan (remember Irish water, folks ? ). Spain… Read more »
Trump is an indicator that the policy framework followed since 2008 has been a complete fudge, and the American people have sussed that much out.
This indicates an astounding increase in awareness, considering that Americans spend more time in front of television than most. And the American media have avoided any discussion of Obama borrowing more money than all previous US presidents combined.
Merkel’s worst nightmare – the Greeks might default, and Trump might say that it is the better option.
Greece is unable to go for another Ponzi-economic extend&pretend episode.
In fact the entire thing will amount to Sarkozy bailing out French insurers, putting Greece through hell, Sarko failing to get re-elected, and Greece finding out that it was not worth the bother.
Hmmm. I found this post very strange. It seems to me that DT has not drained the swap and that “all the lobbyists who raised funds and bought influence” are far from discomfited. Instead, DT has put their corporate bosses directly in charge in a great many instances. Already, the business of dismantling regulation in order to achieve short-term profit has begun. Does it matter? Yes, eight years ago, we saw where lax regulation of the corporate sector leads. Does anyone really think things will be more secure under Trump? As regards international markets and trading, it’s obvious that DT… Read more »
As an aside.
DT will do everything he can to disrupt the European Commission.
If they didn’t realise this before he was elected, they do now.
DT can make Brexit a success fir Britain and Ireland needs to take this fact on board.
If Brecit is successful then it becomes a game changer for the Disruptor.
It will be his beachhead to Europe.
History may be about to repeat itself.
Disruptor tweeting on Sweden’immigration issues.
He’s closer to the truth than he thinks.
Up until recently immigrants to Sweden used a train that ran from Copenhagen in Denmark to the ferry port for Sweden.
That service was discontinued and the same journey, now takes two changes of train.
This has nothing to do with migrants btw!!!!
Interesting Tweets from Henry Makow Highlight the URL > Right-Click > Select “Go to”… the URL OR ACCORDINGLY Highlight the URL > Right-Click > Select “Open Hyperlink” HEADING The Psychopathic Takeover 19 February 2017 BLURB This video describes the elite psychopathic political and social takeover. The methods and motives are discussed as well as how to spot them. .renegadetribune.com/the-psychopathic-takeover/ HEADING Racial Limitations of the Libyan Experiment in Socialist Nationalism 17 February 2017 EXTRACT A growing minority of young and educated people living in the European diaspora views one or another form of socialism favorably as an alternative to the dystopian… Read more »
MORE OF : Interesting Tweets from Henry Makow Highlight the URL > Right-Click > Select “Go to”… the URL OR ACCORDINGLY Highlight the URL > Right-Click > Select “Open Hyperlink” HEADING Obama-linked Activists have Training Manual for to protest against Trump http://nypost.com/2017/02/18/obama-linked-activists-have-a-training-manual-for-protesting-trump/ HEADING Sex Trafficing & Child Exploitation Busts in 1st Month of Trump’s Presidency http://i.imgur.com/LvwzrFi.jpg HEADING Petition for J.K. Rowling to take in Muslim refugees in her 18 spare bedrooms THE ARTICLE J.K. Rowling has often announced her solidarity with Middle-Eastern refugees on twitter. She is well-known advocate of open borders and often stated, that Europe has the duty… Read more »
AND, YET MORE OF : Interesting Tweets from Henry Makow Highlight the URL > Right-Click > Select “Go to”… the URL OR ACCORDINGLY Highlight the URL > Right-Click > Select “Open Hyperlink” Impregnable wall & “pearly gates” & all that ; pbs.twimg.com/media/C4_ltG4VMAEXO2y.jpg ………….. HEADING Denmark : Resolution Passed to Prevent Danes From Becoming a Minority 18 Feb 2017 The Danish Parliament just passed a landmark resolution affirming Danes “should not be a minority” in any residential areas in Denmark. The resolution narrowly passed 55-54 and was vehemently opposed by leftists who insisted it was “racist” and there’s no way to… Read more »
Pulling the plug and really draining the swamp will only be effectively done by killing the FED. Off with its head and then all the swamp critters die from lack of funding. It is the only real solution. Of course there will be consequences but that is the result of the stupidity and greed of the governing class who have been bribed and compromised to enable the legislation. Then there is “us” who refuse to insist that our politicians do the “right” thing. Barely even a person on this blog of supposedly informed and thinking people and owned and operated… Read more »
Robert David Steele on what Trump must do next.
http://www.youtube.com/watch?v=UeeD_CbmtpI
http://www.michaelsavage.wnd.com/2017/02/michael-savage-newsletter-how-will-you-protect-us-from-criminal-aliens-sen-schumer/
Bizzare RTE Clare Byrne read the result of RTE s boring poll on a non core issue tonight. The result was 66% did not want Enda Kenny to go immediately. FG leadership is NOT a core concern for the country. Hospital abuse of our most vunerable. ( ie numbers of beds+ nurses plus the amount of health care spend) http://www.google.ie/url?sa=t&source=web&cd=2&ved=0ahUKEwjepJCO8Z_SAhXiCJoKHfWeBQMQFggeMAE&url=http%3A%2F%2Fm.independent.ie%2Fopinion%2Fcomment%2Ftime-to-end-the-jim-larkin-karaoke-game-35462850.html&usg=AFQjCNHXvtILqbaQQxUpn7XIOZTBhY-GxQ Housing Mortgage Arrears Mental Health and low self esteem of our youth. Sustainable skill sets that suit employment for the next generation. Clare Byrne seems to think that the majority want Enda Kenny to leave immediately because the leave immediately… Read more »
They do not define the criteria – they only name them, which devalues the value of the information, and the research, because it was done by UNESCO, is probably very biased politically
BUT
It is a food for thought nonetheless! – because if we are to believe the media, we have a massive growth here (in property prices – yes; in Central Dublin – yes; for my friend who lives in rural Co. Sligo: shit was, shit is…).
http://www.carlow-nationalist.ie/2017/02/20/new-research-on-economy-society-and-environment-shows-ireland-lagging-behind-other-eu-countries/
Kunstler demolishes the unsustainable petro-centric development model.
http://kunstler.com/clusterfuck-nation/fumbling-towards-collapse/
In Ireland, this amounts to piling construction into our version of outer Atlanta in the East region. In the long term it is unsustainable.
David has already mentioned this in a previous article.
The EROI for hydrocarbon extraction is getting harder with every year. This has massive implications for settling people in places like Kells, Kilbeggan, Portarlington, etc….
We should be building our new residential space in cities/towns where there will be critical mass, rail transport, and close to ports. Otherwise we are building a carbon-cost-intensive distribution and settlement model.
Just like the war-maker element in American politics needs a collection of destinations for blame, the same exists amongst the cadres of clueless gombeens operating in the Irish institutional state. They simply refuse to admit that their own ineptitude, incompetence or collective denial is the problem. This is best exmplified by the discussions that occur in the Irish media, on the state of affairs. It consists of a collection of overpaid wasters, who are inplace as a result of having the right connections, and having served the right vested interests (usually against the interests of the people) making the most… Read more »
Apropos of favorite to succeed Merkel as leader of Germany ; Mr. Martin Shulz whom Grzegorz has educated us about & for which some of us on this blog are very appreciative ;
…
https://en.wikipedia.org/wiki/Martin_Schulz
I note a remarkable achievement for a man who has no leaving certificate ;
That special little democracy in the Middle East has given Schulz a PhD
Ref.
58 “President of the European Parliament Martin Schulz received HU Honorary Doctorate”. BFHU. Retrieved 11 August 2015.
…
https://theuglytruth.wordpress.com/2017/02/19/germany-over-33-000-israelis-have-become-german-citizens-since-2000/#more-168238
Please find for ur consideration Shultz’s sentimental quote at end of that article.
…
@ Grzegorz,
The most educative & pleasant TV channel that I have enjoyed ever is ;
NHK World ;
NHK is Japan’s national broadcasting organisation.
https://www3.nhk.or.jp/nhkworld/
https://en.wikipedia.org/wiki/NHK
Interesting & useful & relevant Tweets from Henry Makow ; Highlight > Right-Click > Select “Go to” the URL … Spain Sets Massive Precedent — Charges Its Central Bankers In Court FEBRUARY 20, 2017 activistpost.com/2017/02/spain-sets-massive-precedent-charges-central-bankers-court.html … Twitter Page of scholar Michael Hoffman ; Author of “They were white ; And, they were slaves.” https://twitter.com/HoffmanMichaelA … HEADING Britain’s Royal Air Force trained Saudi Arabia how to use smart bombs 20 Feb, 2017 rt.com/uk/377942-raf-saudi-yemen-training/ … HEADING Melania Trump attacked for reciting ‘The Lord’s Prayer’ at campaign rally February 19, 2017 http://www.foxnews.com/politics/2017/02/19/melania-trump-attacked-for-reciting-lords-prayer-at-campaign-rally.html … “Hi, I’m Pablo Escobar. …” pbs.twimg.com/media/C5GqTjxUYAA9ihF.jpg … From that lovely… Read more »
There real contest in France is round 1, second place. http://www.zerohedge.com/news/2017-02-21/ Fillon has now come back ahead of Macron. This is another competitive problem for Ireland. Fillon wants to make France more competitive, and more efficient. Contrary to the headline, I think that the current poll percentages are an indicator to BUY French bonds. A Macron – Le Pen contest is a disaster for France. They are both statists. And Statism is the problem in France. ( Statism is the problem in most Western countries, and the super-statism/nEU model imperialism an absurd outgrowth in the power of statism). Fillon represents… Read more »
This is comical. http://www.telegraph.co.uk/news/2017/02/21/french-presidential-hopeful-emmanuel-macron-meets-theresa-may/ Do French politicians engage in a competition against each other to say the most unrealistic, far-fetched, utter nonsense ? From the DT [ Mr Macron’s support base is by far the most volatile. Although critics accuse Mr Macron of sitting on the fence by remaining woefully short on policy details…. ] [ Asked if he wanted banks to move to France after Brexit, Macron responded: “I will have a series of initiatives to get talented people in research and lots of fields working here to come to France … I want banks, talents, researchers, academics and… Read more »
Highlight the URL > Right-Click > Select “Go to”… the URL OR ACCORDINGLY Highlight the URL > Right-Click > Select “Open Hyperlink” …………….. THE ROTHSCHILDS WANT A “CLASH OF CIVILISATIONS” OF “ISLAM” versus “CHRISTIANITY” ; IT IS A BRILLIANT MOVE BY THEM, vis. Organising the so-called Arab Springs in Levant & Middle East by sponsoring Al Qeheda sic & ISIS. Flooding Europe with mostly bogus Refugees Grooming “Racist” Politicians in Europe to “race-bait” instead of allowing “good sense” Politicians to protect the Levant & Middle East from NATO & Al Qeheda sic & ISIS destruction of lives & property &… Read more »
Highlight the URL > Right-Click > Select “Go to”… the URL OR ACCORDINGLY Highlight the URL > Right-Click > Select “Open Hyperlink” Happenings in the pseudo-intellectual sphere around the phenomenon Trump ; ……… HEADING Milo Yiannopoulos Disinvited from CPAC Amidst Pederasty Controversy Feb 20, 2017 SUB-HEADING Alt-Light posterboy Milo Yiannopoulos has been disinvited from the 2017 Conservative Political Action Conference over his apparent defense of pederasty. Commentator A says ; “So this all about an eventual Trump impeachment ? And Milo is somehow useful to that end ? What a bunch of sick fucks. My god, this reads like some… Read more »
@ Grzegorz & Tony Brogan in particular
Here are some strong thoughts from the “thought-provoking” Anne Bernhardt :
http://www.barnhardt.biz/jesus-christ-economist/
http://www.barnhardt.biz/the-one-about-sharia-finance-blankies-and-axe-body-spray/
More on a Donald Trump shooting from the hip style woman ;
Ann Barnhardt
Google.com results for search terms ;
Ann Barnhardt
https://www.google.com/?gws_rd=cr&ei=bZCtWLzsMorpvgS76rCIAw&fg=1#q=ann+barnhardt
After finding this, I reckon that Tony Brogan should be familiar with this controversial lady ;
http://www.silverdoctors.com/tag/ann-barnhardt/
I just spotted this from Ann Barnhardt ;
It is very current.
And, it so happens to concern Airbnb highlighted by David as a game-changer.
By the way, I do not endorse Ann Barnhardt ;
But, she is worth dipping into from time-to-time if only to surprise oneself.
http://www.barnhardt.biz/2017/02/20/its-happening-how-long-before-your-bank-demands-that-you-swear-fealty-to-faggotry/
RTE are still calling for a general election that the country does not want.
Hope that FG tell them where to go.
RTE cannot call the shots.
I see that the quote is from “Haaretz”. When I said that if someone had time to read only newspaper, he should read “Haaretz”, I was not being facetious. Btw, if you did not believe me that Germany have been, since Gehlen, working closely along the extreme in Israel on an info war front – and they, along with Israel, started to look for some scapegoats for money extortion purposes – look at what Mr Schulz did in 2005: there was an anniversary of liberation of Auschwitz, and the EU Parliament was to issue a special resolution on that occasion.… Read more »
http://usawatchdog.com/trump-has-treason-in-white-house-robert-david-steele/
“completely wrong about gold (it’s totally irrelevant)”–
Adam
How so?
http://www.independent.ie/business/media/profits-at-marian-finucane-firm-top-1m-35466882.html
http://www.independent.ie/irish-news/civil-servants-will-pay-nothing-towards-pensions-if-unions-get-their-way-on-levy-35425931.html
http://www.independent.ie/irish-news/internet-caf-exploiting-homeless-by-charging-10-a-night-to-sleep-on-chairs-and-floors-35470069.html
Note the nastiness of the Garda-Landlords / Landlord-Gardai
Of course, whether the following is true or not, NATO & others “cryptically” involved manufactured the breakup of Yugoslavia for Geopolitical reasons. Just like they are trying to do to Syria ; 1 of the objectives with Syria is to “Balkanize” it ; i.e. Break up Syria as was done to Yugoslavia. I wonder could they do so to Poland ? Hey, they’ve done it to Ireland ; The problem we have with the “grumpy Theologians” is one they can crank up whenever to suit their purposes. For sure, they wish to restrict Ireland from being a vibrant Catholic contiguous… Read more »
http://www.cnbc.com/2017/02/23/trump-suggests-he-wants-a-weak-dollar-to-help-us-exporters.html
Bring on the currency wars. Inflation will rise. The only way to lower the value of a currency is to have a lousy balance of trade and a massive increase in money production. The US should soon be at the bottom of the heap as they ruin the dollar. It is now official policy.
Whatever happened to David’s Sunday Business Post articles? I have noticed that there is only one article per week here for the last few weeks, the one he writes for the Irish Independent. Perhaps that is why his blog has come to be dominated by a small number of guest posters. I would prefer to read more of David McWilliams and less of his guests.
“Our era is dominated by heads of privately owned central banks and their ever-devaluing fiat currencies. Their fiat currencies money system has made them fabulously rich…the accomplice governments big and powerful…and populaces less free and more poor. It is not that a gold standard has been tried and found wanting; but that it is not wanted and no longer tried. Regardless of its superiority, a gold standard is inferior to gold coins and silver coins as money. The exclusive use of such coins is mandated by article 1, sections 8 and 10, of the U.S. Constitution. That mandate precludes all… Read more »
http://www.michaelsavage.wnd.com/2017/02/michael-savage-newsletter-no-one-is-talking-about-the-culture/
http://usawatchdog.com/weekly-news-wrap-up-2-24-17-greg-hunter/
MSM Lies about Illegal Aliens, Most Americans Don’t Want Illegals, Trump Trapped-Gold Will Soar
http://russia-insider.com/en/worlds-1-financial-daily-russia-hoarding-gold-because-it-understands-western-world-has-insane FT’s parting piece of advice: Because of the west’s “unsustainable debt”, everyone should follow Russia’s example — buy gold. Here is the relevant nugget of gold from FT columnist Merryn Somerset Webb: [T]he Russian stock market — despite its stellar year — is cheap, unloved and under-owned. So you should buck the trend by at least owning a little of it. On to the last thing, gold. The case here is very, very simple. The western world has insane amounts of debt (the UK debt-to-GDP ratio is still 85 per cent — and that’s before you even start on… Read more »