Articles

Populism in Practice

In our previous two articles in this series we have considered the phenomenon of populism, how it operates and what gives rise to it, and how the current state of the developed world has led to the current surge in populist parties and policies.  In this article we look at…

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The Causes of Populism

In our article last week we looked at the rise of populism in recent years, and explored what populism is, what typically leads to a populist surge and what some of the consequences for and effects on democracy and the wider society are when politics takes on a populist hue.…

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The Triumph of Populism

Populism has very old roots; and it comes and goes in waves In modern times, populist parties rarely win elections. Their ideas triumph anyway. The populist victories in 2016/17 make this a very unusual time Populism is not the ultimate expression of a democracy. On the contrary, it is a…

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Broad money less supportive of asset prices in 2018

 Broad money growth in all four large advanced economies is healthy, but slowing Crucially, the growth of non-bank financial institutions’ money holdings is subdued Money data point to continued but somewhat less support for assets As we enter into 2018, broad money growth in all major advanced economies is presenting…

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Into a secular bond bear market

Bond markets move in long – secular – cycles, with at least five since the 1870s After a bull market since 1982, we are now likely headed for a multi-decade bear market However, bond yields are unlikely to reach levels seen from the 1970s to the mid-1990s Bond markets, like…

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US real house prices – the elusive recovery

US house prices reached an all-time high in October 2017 But real house prices are still 12% below their October 2005 peak Subdued house price growth will affect housing – and household savings and investment US house prices – specifically, the median price of existing homes – reached another all-time…

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On 14-15 November, Gabriel Stein spoke at the Prestel & Partner Family Office Forum in Zurich

I spoke on The Next Secular Bond Bear Market – Comment to follow here

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Take the side of the Persians and the Shi’a – update

I wrote the following piece for my blog on 4th June 2007, well before the rise of ISIS and the Arab Spring. Some of the details are therefore dated and I have made some adjustment in bold where it was necessary. However, as another conflict between Saudi Arabia and Iran looms,…

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Gabriel Stein interviewed on Linear TV

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How not to eliminate corruption

Corruption is a cancer on societies, both in terms of economic and of social cost. It is not enough to tackle the symptoms of corruption; the underlying causes must also be attacked. Both Saudi Arabia and China are doing the former but ignoring the latter. They will therefore fail. Last…

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