China built huge stockpiles of copper, zinc, coal and iron ore over the last year. The fear is much of this inventory is held on speculation of rising prices. If prices fail to rise, all of this metal could re-appear on the world market as worried investors sell. Recent action in the Chinese shipping indexes may be confirming those fears.
Money managers in Edinburgh, where investment decisions have been made on behalf of insurers, pensioners and the wealthy for two centuries, are manoeuvring to protect assets from the UK economy as it limps out of its worst recession on record. The UK’s budget deficit is roughly the same as Greece’s, both exceeding 12% of economic output.
The Secret Society for Creative Philanthropy asked 27 wet people if they would like to have a free umbrella, in pouring rain. Seventeen of them said no. There was absolutely no catch, but people thought that the deal was fishy. Is it time to write an epitaph for altruism?