I don't like the action I am seeing in stock markets at all.

I've been saying since mid- to late-April that these are traders' markets. I know I'm starting to sound like a scratched record.

When ‘too much’ suddenly is not enough.

Imagine the face of Lt George Morris. On 8 March, 1862, his ship, the USS Cumberland, found itself a victim of what the economist Joseph Schumpeter called ‘creative destruction’. The creativity came in the form of a revolutionary new technology, iron-clad ships.

The fundamental case for investing in grains is compelling.

There's the world's ever-growing population, all of whom need to eat. In particular, there are the expanding middle class populations of Asia, all expecting better diets. It takes a lot of grain to rear a cow, chicken or pig.

Et tu, Yankee?

Paul Krugman, Martin Wolf and the other big spenders are remarkably resilient. And cunning. On their advice, the world’s governments put up as much as four years’ worth of the entire planet’s savings to bring about a ‘recovery’. On the evidence of the last couple of weeks, it didn’t work.