The Stories Behind The Earnings
Delving into the narratives of company earnings and what they mean for the economy.
The last month has been data overload. A huge range of corporate announcements and global economic data points have come together so we can sit down and read the tea leaves. Clear recurring trends are threading through the data but to keep things simple I’ve selected three core themes that I believe explain what’s happening and more importantly, what could happen. The themes I’ve observed are the toppy markets, the longevity of pressure and the failings of demand-oriented politics. Like most things economics and markets, these themes don’t make a whole lot of sense as standalone items. Pull them together though and it paints a clear picture of a society that has borrowed heavily from the future to survive the present day. Whether that be earnings and purchases that have been brought forward or debt taken on for stimulus, we have pushed hard into the future and now, for any semblance of future economic growth, we need policymakers and businesses to embrace creative destruction and change.
Demand Oriented Politics — The Supply of Hospital Beds
Working backwards through the core themes and tapping into the articles headline image is the nature of demand-oriented…
