Economies are weakening - latest data. Markets start to think that interest rates are already too high

Solving the Irish housing crisis is, in principle, easy: just build 50,000 units a year until the word 'crisis' disappears from the headlines and public consciousness. Is that a practical, realistic proposition - for any government of any persuasion? Why not just do it? Lots of trade data, particularly for exports, suggest that economies are slowing down. Irish exports are really hurting from the slowdown in general and the weakness in Pharmaceutical trade in particular. Far fewer people are getting Covid boosters. The weakness (relatively speaking!) in corporation tax receipts is in danger of becoming a trend. We will know a lot more in a couple of weeks when the all-important November exchequer returns are published. The European and Uk economies are moribund. They are at stall speed - it won't take much to knock them into recession. Markets are actively thinking about rate cuts happening much sooner than central bankers are saying is likely. One or two prominent commentators are beginning to flirt with the idea that central banks, particularly the ECB, are on the verge of a big mistake - keeping rates too high for too long Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns. Hosted on Acast. See acast.com/privacy for more information.