We Must Learn to Live with Chaos as the New Normal ; Volatility, Economic Shocks and Governments' Inability to Control Events Could Be Back to Stay -- So Relax about It

Hilton, Anthony, The Evening Standard (London, England)

ONE of my son's friends, a hedge fund manager, spent part of New Year's Eve saying how much easier investing must have been in the 1970s, 1980s and 1990s: there was so much less uncertainty and you knew share prices were always going to go up.

It was hard to persuade him it did not feel easy when, in 1976, inflation hit 26 per cent and most of British business faced insolvency; or when the pound collapsed to $1.03 under Mrs Thatcher in spite of the gushing benefit of North Sea oil; or indeed in 1992, when in one 24-hour period, Chancellor Norman Lamont tried to raise interest rates by five per cent, to 15 per cent, before conceding that we would have to leave the European Exchange …

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Publication information: Article title: We Must Learn to Live with Chaos as the New Normal ; Volatility, Economic Shocks and Governments' Inability to Control Events Could Be Back to Stay -- So Relax about It. Contributors: Hilton, Anthony - Author. Newspaper title: The Evening Standard (London, England). Publication date: January 3, 2013. Page number: 14. © Not available. Provided by ProQuest LLC. All Rights Reserved.

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