Y2024 Second Reel: EI Festive Weekend Edition 3157
Last week we started an EI weekend review and this week is another potpourri of interesting reading. This week — well in classic Hollywood style it’s the second reel so you can expect this one to be more of a downer… but it’s important in the global schema of the plot…
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On this day in 2000, Montgomery Ward (then owned by General Electric) filed chapter 11 bankruptcy.
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MACRO THOUGHTS
When looking at the EU, the simple macro is this:
EU growth 2008–2023: 9% versus 86%
AKA The EU economy was at parity with USA as recently as 2008. Since then the EU has declined to being a third smaller than the USA.
We know the EU is in serious difficulty as even the Brussels Bugle itself, the FT (heavily reliant on subscription and advertising income from EU folks and EU related entities) has recently headlined:
Can Europe’s Economy Ever Hope To Rival The US Again?
FT
NB The ECB cut Euro interest rates (while other major central banks appear to be holding off) which took place for the first time in 5 years on the Thursday of the Euro election weekend — coincidence? I am unconvinced.
Macron And The Rest Of The European Elite Are Living On Borrowed Time: They Haven’t Even Begun To Understand Why They Are So Unpopular
John Hulsman Substack
Now that’s the macro and if you’re harumphing right now, here’s the Brussels Bugle, the home paper of the Eurocracy:
European Leaders Need To Wake Up — The World Has Changed
FT
Gosh I just can’t be bothered, it’s the festive season and all that…
IPO-VID Livestream
2024 saw no fewer than 37 IPO-VID livestreams for the year, you can watch them all here.
EXCHANGE INVEST WEEKLY PODCAST
We have produced 50 EI Weekly podcasts for the year 2024, you can listen to them all here.
OF INTEREST
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
The World At War ( 1973) : Free Download, Borrow, And Streaming
Archive.org
PLY: H/T John Greenan for spotting this now being freely available and indeed here’s a reference story on the whole magnificent series: The Genius Of The World At War — UnHerd. The best box set outside the remit of Netflix et al…
Earthquakes In Japan: We Are Always Prepared
Yuri Minamide Medium
How The East India Company Became The World’s Most Powerful Monopoly
History
Is ‘Sea Rice’ The Next Superfood? Eelgrass — Sustainable, With Nutrient-Rich Grains, And Growing In Salt Water — Championed By Top Chef Ángel León
South China Morning Post
America’s Last Morse-Code Station
The Atlantic
The Smuggling Trail Keeping Russian Passenger Jets In The Air
FT
Last article…
The Battle For Attention
The New Yorker
PLY: Naturally I just skimmed this but it looked pretty interesting.
Book worth reading:
CAPITAL MARKET REVOLUTION
First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp
This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
IPO-VID LIVESTREAM PODCAST
During 2024, we produced 41 IPO-VID livestream podcasts.
You can listen to them all in different podcast sources:
EI Website | Spotify | Apple Podcast | Anchor
LAST WORD
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You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.
Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.
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