Whatever happens to US stocks in 2023, it can’t be worse than 2022… can it?
Well, have the issues that sunk stocks in 2022 been resolved? Or are we facing the same challenges yet again in 2023?
Of course, sometimes the medicine is worse than the disease in financial markets too. With the Bank of England continuing interest rate hikes, the Financial Conduct Authority (FCA) is warning MPs that, “More than 750,000 households at risk of mortgage default,” reports the Telegraph. What could possibly go wrong?
What didn’t go wrong in 2022 was Europe’s energy crisis. The lights and the heating stayed on in the end and the real crisis that we worried about all year was averted by unusually warm weather.
Success! If you call shutting down your economy, burning copious amounts of coal, reviving old nuclear plants and being beholden to the weather and Russia for survival “success”, that is.
That is not to mention the half a trillion US dollars that Germany, for example, has spent on dealing with the energy crisis so far. How many nuclear power plants would that have bought them going into this mess?
The question now is whether European politicians will fail to learn the lesson that they should’ve and would’ve if the weather had been worse. Because if they don’t, where will we be every year from now?
Find out what Nigel Farage thinks about all this, and more, in this video…
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Editor, Fortune & Freedom