The Sage is sage

Ritchie thinks the budget was a bad one. Ritchie notes that the markets don’t seem impressed either:

This morning’s chart for the FTSE 100 suggests that the markets are as unconvinced by Rishi Sunak’s budget as I was

That efficient markets hypothesis is true when the markets agree with the Sage of Ely then, eh?

8 thoughts on “The Sage is sage”

  1. Dunno, is it even possible to pick out the impact of the Budget (if any) from the impact of President Trump’s statement last night and general ongoing fear and anxiety across the world?

    The Budget looks like Rishi business, but mebbe the markets have bigger worries.

  2. “Do I contradict myself?
    Very well then I contradict myself,
    (I am large, I contain multitudes.)”

    — Walt Whitman

  3. Bloke in North Dorset

    Sir Howard Davies, economist, Chairman of RBS, former head of the LSE and treasury mandarin, was on the post budget New Statesman podcast and had been watching it with them. He was specifically asked about his reaction to the market fall during the budget and his view was that it was more a reaction to what was happening in the USA than the budget.

    Hardly a Tory supporting rag or group of people.

    I’m going with his view until I get better info.

  4. There is much for Capt Potato to like about this budget. For one thing it is stuffed with ecobollocks, such as investment in CCS boondoggles, in ensuring that no one is more than 30 miles from an electric charging point, removing the tax break on diesel for the haulage industry. It signals that this supposedly Conservative government has been captured by the Green morons. We should be marching down Whitehall and burning down Downing Street

  5. The Pedant-General

    “That efficient markets hypothesis is true when the markets agree with the Sage of Ely then, eh?”

    Ah but of course Tim: it’s the fact that markets sometimes _don’t_ agree with him that shows EMH is not true. When they do agree, therefore, it’s just coincidence. Obviously.

  6. @Steve

    Market fell Yesterday during/after Fake Conservatives budget & Carney’s rate cut

    Today prob due to Trump Europe travel ban – highlighted bad state Europe in

    @BiG

    More like Dill – always running in circles trying to catch his tail; or Mrs Onion

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