Inside Track – December 2018
This month’s topics are:
- Any possible economic upside is limited – looking forward from an economic, geopolitical and political standpoint, the good times are on hold.
- Two major economic uncertainties will dominate 2019.
- The French Yellow Vests’ eruption was sparked by a tiny gasoline tax and fuelled by social media. It’s about people from the lower middle class who have difficulties making ends meet.
- In many countries, labour markets have improved – to such an extent that some are near full employment. Yet something is substantially broken when it comes to work.
- An increasing number of opinion-makers and academics (including from the right) are coming to the conclusion Capitalism, as we know it, is broken – perhaps beyond repair. This is echoed by the younger generation: today more Americans between 18 and 29 are positive about socialism (51% versus 68% in 2010) than capitalism (45%). What happens next?
- In 2019, central bank independence will become increasingly imperilled.
- A 2018 will be remembered as the year when the tide turned against tech.