And with his arrival, we have all the promises and threats of impending success or doom depending upon your viewpoint.
Mark Carney, Governor of the Bank of England, chair of the UK Monetary Policy Committee, the Financial Policy Committee and the Prudential Regulation Committee warns us that the UK economy faces profound uncertainty.
He warns of job losses and the threat of a further drop in the value of the pound.
The impact on jobs, earnings, holidays and house values could be quite severe.
With Boris losing yet another Conservative seat in the recent by-election in Brecon, it might make it even more difficult for him to achieve his objectives. It is not easy to get legislation passed with a majority of one in the House of Commons. Yet another impasse.
Does this lead to more turmoil, more uncertainty?
The reality is that with the disruptive technologies and the political situation the way it is in the UK, no one really knows what the real outcome might be.
Mortgages and the energy bills have to be paid; we need to be able to feed and clothe our children as well as ourselves; we have transport bills. Any benefits paid by the Government to support the unemployed will be nowhere near adequate to make up for the loss of a steady income if the business we are employed in falls under the axe.
Things “look” a little rosier in the US where Trump has managed to bring great benefits to the US economy. There is a high level of employment. Wages are rising.
Stocks market values fell on Friday 2nd August as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs while investors digested U.S. employment data. The Dow Jones traded 314 points lower. That is a big fall.
There are those that believe that Trump could be the greatest creator of Government debt in the history of the country. And there is some debt. Take a look at the US Debt Clock.
This clock only represents on balance sheet debt. If you add the debt that is not on the balance sheet it is much higher, up to $70 trillion. Under President Donald Trump, the debt also has climbed.
China’s foreign ministry pushed back against President Donald Trump’s latest tariff threat on Friday. China’s spokesperson at the foreign ministry, Hua Chunying, said at a daily press briefing that Beijing would have to take countermeasures if the U.S. was committed to putting more tariffs on Chinese goods.
The price of gold tends to rise rapidly in times of uncertainty. It is, after all, still the only true money and value and the last resort in a crisis. The price of gold peaked at $1900 dollars back in 2011. Since then it has Consolidated forming, some believe, the beginning of breakout. There are those that think the gold price will go much higher than $5000 an ounce.
The Federal Reserve is cutting base rates and this is seen as part of the reason the gold is rallying. Central banks around the world are buying gold to diversify reserves and minimise exposure to the dollar.
But this is nothing new. The pundits who proclaimed that gold would rocket to $5000 dollars an ounce, even $10,000 dollars an ounce, have been around for a long time.
The real fact of the matter is nobody knows. We can look at the trends we can listen to the politicians are telling us, what they think, what they’re doing, but how the markets will react and how that will impact our standard of living is difficult to forecast.
Why should we be concerned with global financial and political issues?
After all, we do have our own little, by comparison, problems to think about.
Because the global actions of politicians and bankers affect us all in the long run and are paid for by you and I, the little people.
The politicians will retire with their fancy, gold plated pensions, telling us all about the great works they have achieved. And a few years later the chickens will come home to roost at our doorsteps.
Can we protect ourselves against these uncertainties?
The only real way to give ourselves to some protection is to make sure that we are not reliant upon others. The only way we can do this is to build our own businesses.
If the forecast job losses materialise, there will be an even greater percentage of the population looking to find new ways of earning money. Thus, the competition with new sellers coming into the markets and producing new products will intensify.
It takes time to create a new business; the sooner you start the better!And by now you will know that I recommend that there is no better way of starting your own business that by following the advice of John Thornhill and his Partnership to Success Programme.
Why not try it? You can start for only $1.
If you’re not happy with his program and advice John offers a full refund.