#ENGLAND: Riots in the North. @RealConstable @BatchelorShow Occitanie

 By SIMON CONSTABLE

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West Midlands Police from West Midlands, United Kingdom, CC BY-SA 2.0, via Wikimedia Commons

WSJ: Financial Flash Back -- Google Goes Public

By SIMON CONSTABLE 

#England: Labour to raise taxes, rewards public sectors and builds public housing, @RealConstable @BatchelorShow Occitanie.

By SIMON CONSTABLE 

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Falkland Islands 1928 General Archive of the Nation , 

Public domain, via Wikimedia Commons

FRANCE: Heatwave, cooling stations in Paris, pollution in the Seine and sunflowers, @RealConstable @BatchelorShow Occitanie.

 By SIMON CONSTABLE

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NYT: Olympic Men’s Triathlon Postponed Because of Pollution in the Seine

Water-quality tests early Tuesday showed that the river running through Paris was unsafe for swimming, organizers said. 

Olympics organizers postponed the men’s individual triathlon race that had been scheduled for Tuesday morning, saying water-quality tests had shown that the Seine, the river that traverses Paris, was unsafe to swim in. Read more here.

Benno Rothenberg /Meitar Collection / National Library of Israel / 

The Pritzker Family National Photography Collection, CC BY 4.0, via Wikimedia Commons

Fox Business: 2024 Olympic Games commence in Paris, but will they make money?

 By SIMON CONSTABLE

FRANCE — The world's finest athletes have arrived in Paris to compete in what will no doubt be a spectacular event. The organizers even made the novel choice of holding the opening ceremony Friday evening via boats along the Seine River rather than a stadium, as has been traditional.

But an important question for everyone in cash-strapped France is whether the Olympic Games will go over budget, leaving epic debts for French taxpayers. It’s not a trivial matter. 

"It’s expensive, and French public finances are not in the best state," says Leo Barincou, a Paris-based senior economist for Oxford Economics. The country’s budget deficit hit 5.5% last year, far beyond the European Union limit of 3%. Read more here.

Paris: Carlos Delgado, CC BY-SA 3.0, via Wikimedia Commons

#MARKETS: Risk management and ages 50–80. Kiplinger's News Letter. @RealConstable @Batchelor Show

By SIMON CONSTABLE

 

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            Wall Street 1914 Irving Underhill , Public domain, via Wikimedia Commons

#FRANCE: The harvest is in, planting sunflowers, crashing Lithium. @RealConstable @BatchelorShow Occitanie

 BY SIMON CONSTABLE

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1974 © European Union, 2024, CC BY 4.0, via Wikimedia Commons

Kiplinger's Retirement Report: Why Your Investments Must Change as You Age — and How to Do It

By SIMON CONSTABLE

Retirement planning has gone from fairly simple a few years ago to mind-bogglingly complex today. That means you must make investment decisions solid enough to provide income for many decades while remaining flexible enough to shift as your circumstances do.

It is a big change. “My grandparents had fixed pensions. They received the same amount of cash each month from the pension fund for the rest of their lives,” says Richard Rosso, director of financial planning at wealth management company RIA Advisors in Houston. The magic of managing the assets to make those payments possible was left to Wall Street. Now “the burden, more than ever, is on the individual,” he says. Read more here.

Udo Keppler , Public domain, via Wikimedia Commons

#SCOTLAND: Net Zero means empty village shops. @RealConstable @BatcehlorShow Dumfries, Scotland

 By SIMON CONSTABLE

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Hospital of Our Lady, Edinburgh. See page for author, CC BY 4.0, via Wikimedia Commons

#BRETTON WOODS, NH: Celebrating 80 years the dollar supremacy. @RealConstable @BatchelorShow Occitanie

 By SIMON CONSTABLE

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Bureau of Engraving and Printing, Public domain, via Wikimedia Commons

Read more about Bretton Woods…

WSJ: FINANCIAL FLASHBACK• 80 YEARS AGO: Bretton Woods

In July 1944, representatives of 44 nations met in Bretton Woods, N.H., to rejigger the global monetary system and hopefully stabilize the war-ravaged world economy.

The dollar became the new reserve currency, officially replacing the British pound, which had been the dominant currency since the early 1800s. World War I almost bankrupted Britain decades earlier, so the move was long overdue.

The Bretton Woods agreement fixed the value of all exchange rates relative to the dollar. The greenback had a fixed value of $35 a troy ounce of bullion.

Marc Chandler, managing director at currency trading company Bannockburn Global Forex, says picking the greenback over other currencies made sense. “The U.S. emerged as the only major economy not hurt economically by the war,” he says. More here.

WSJ Video: Nelson Mandela's Life and Legacy

 By SIMON CONSTABLE

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Paul Weinberg, CC BY-SA 3.0, via Wikimedia Commons

Briefings Magazine: The (Tough) Economics of the Olympic Games

By SIMON CONSTABLE

The world is always revved up when the Olympic Games start. Tickets sell like hot croissants. The finest athletes in the world ready themselves for competition. And this year, Paris is the stage for it all. What’s not to love?

When it comes to money, quite a lot, actually. 

Historically, hosting the games has been an economic sinkhole. Go back and look at the results, and you won’t find any gold medals here. More than half of the 11 Olympic Games since 2000, in fact, lost money—often billions of dollars—or barely broke even. “The balance sheets are usually in the red when it’s over,” says Konstantinos Venetis, director of global macro at TS Lombard. Read more here.

A young Mohammed Ali (1942–2016) wins first prize. Boxing light-heavyweight podium 1960 Olympics 

Polish Press Agency (PAP), Public domain, via Wikimedia Commons

#FRANCE: Wheat crop and the National Rally. @RealConstable @BatchelorShow Occitanie.

 By SIMON CONSTABLE

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#FRANCE: Wheat crop and the National Rally. Simon Constable, Occitanie.
https://www.esmmagazine.com/supply-chain/worse-than-expected-french-barley-crop-raises-concern-over-wheat-268942

France 1912

See page for author, Public domain, via Wikimedia Commons

WSJ: FINANCIAL FLASHBACK• 80 YEARS AGO: Bretton Woods

 By SIMON CONSTABLE

In July 1944, representatives of 44 nations met in Bretton Woods, N.H., to rejigger the global monetary system and hopefully stabilize the war-ravaged world economy.

The dollar became the new reserve currency, officially replacing the British pound, which had been the dominant currency since the early 1800s. World War I almost bankrupted Britain decades earlier, so the move was long overdue.

The Bretton Woods agreement fixed the value of all exchange rates relative to the dollar. The greenback had a fixed value of $35 a troy ounce of bullion.

Marc Chandler, managing director at currency trading company Bannockburn Global Forex, says picking the greenback over other currencies made sense. “The U.S. emerged as the only major economy not hurt economically by the war,” he says.

The creation of the World Bank and the International Monetary Fund were both designed to raise living standards for member nations and support the new currency system. Still, American bankers had reservations, especially about providing long-term loans.

The system ended in 1971 after President Nixon broke the gold link. However, dollars still reign supreme. “Inertia and lack of alternative currencies mean the U.S. dollar continues to succeed,” Chandler says. Read more here.

Snapshots Of The Past, Public domain, via Wikimedia Commons

Fox News Digital: France’s election is a toss-up, but the economy is still facing rough ride

 By SIMON CONSTABLE

Things aren’t looking good for France’s economy or its budget. And the forthcoming second round of the parliamentary election Sunday could make things even worse. 

"It’s almost like France has taken away the crown for financial instability from the United Kingdom," said Susannah Streeter, head of money and markets at Hargreaves Lansdown in Bristol, England. Britain went through similar tumult in September 2022. Read more here.

NonOmnisMoriar, CC BY-SA 3.0, via Wikimedia Commons

#FRANCE: Labour has it for ten years or more: @RealConstable @BatchelorShow Occitanie

 By SIMON CONSTABLE

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 The women Bonapartes: the mother and three sisters of Napoléon

Internet Archive Book Images, No restrictions, via Wikimedia Commons

Fox News Digital: French right in commanding position as 'fed up' voters prepare to send Macron message in elections

By SIMON CONSTABLE

FRANCE - When the French go to the polls this Sunday, the result will likely reflect an unprecedented move to the right in what could lead to the most conservative parliament since the country was liberated in WWII, experts say. 

The reasons come down to unhappiness with immigration, a weak economy, a cost-of-living crisis and dissatisfaction with the current centrist government, especially among younger voters.

"Right now, France is seeing its biggest shift to the right," Matthew Tyrmand, adviser to conservative political candidates and parties across Europe told Fox News Digital. "This is democracy at work—the people are mad as hell and not going to take it anymore." Read more here.

Emmanuel Macron

Kremlin.ru, CC BY 4.0, via Wikimedia Commons

#FRANCE: Hot weather, heated Elections in Paris and London. @BatchelorShow @RealConstable, Occitanie

 By SIMON CONSTABLE

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#FRANCE: Hot weather, heated Elections in Paris and London. CBS Eye on the World with John Batchelor, Simon Constable, Occitanie
https://www.telegraph.co.uk/politics/2024/06/26/general-election-live-sunak-starmer-farage/.

 Inauguration, dans les années 50, de la plaque commémorative en hommage à Raymond Luauté (1905-1945), militant communiste déporté, au numéro 86 rue de Bagnolet, XXe arrondissement, Paris, France. VLuauté, CC BY-SA 3.0, via Wikimedia Commons

#France:The National Rally's 28 year old @J_Bardella. @RealConstable @BatchelorShow @FoxNews

 By SIMON CONSTABLE

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At 28, Jordan Bardella shakes up French politics: 'People across France have woken up'

FRANCE — Jordan Bardella is shaking things up in French politics. He’s young. He’s handsome like a male fashion model, and since 2022, he’s been president of the National Rally, the new name for the National Front party founded in 1972 by controversial far-right politician Jean-Marie Le Pen. The party has moved on from its far-right roots, becoming more of a populist party under Le Pen's daughter, Marine. 

"Jordan Bardella, the right-wing 28-year-old without a college degree, could be the French prime minister in a few weeks," says Thomas Corbett-Dillon, a former adviser to former U.K. Prime Minister Boris Johnson and adviser to other European politicians. "This is great news for the French people that have suffered relentless attacks on their culture by left-wing Macron and the millions of migrants he imported."

Read more about Barcella here.

English: Raphael ATTAL @BootEXE, CC BY-SA 4.0, via Wikimedia Commons

#France: Driving with calves in the road. @RealConstable @BatchelorShow @FOXNews Occitanie.

By SIMON CONSTABLE

 

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stanze from Eure, France, Normandie,, CC BY-SA 2.0, via Wikimedia Commons

#France: Driving with calves in the road. Simon Constable, Occitanie.
https://www.standard.co.uk/news/politics/calf-police-ram-car-beau-lucy-staines-officers-b1165010.html 

Fox News Digital: At 28, Jordan Bardella shakes up French politics: 'People across France have woken up'

By SIMON CONSTABLE 

FRANCE — Jordan Bardella is shaking things up in French politics. He’s young. He’s handsome like a male fashion model, and since 2022, he’s been president of the National Rally, the new name for the National Front party founded in 1972 by controversial far-right politician Jean-Marie Le Pen. The party has moved on from its far-right roots, becoming more of a populist party under Le Pen's daughter, Marine. 

"Jordan Bardella, the right-wing 28-year-old without a college degree, could be the French prime minister in a few weeks," says Thomas Corbett-Dillon, a former adviser to former U.K. Prime Minister Boris Johnson and adviser to other European politicians. "This is great news for the French people that have suffered relentless attacks on their culture by left-wing Macron and the millions of migrants he imported." Read more here.

English: Raphael ATTAL @BootEXE, CC BY-SA 4.0,

 via Wikimedia Commons

2/2: #FRANCE: #UK: Perfect weather for the farmers of the National Rally. Cold and stormy for the MPS of the Conservatives. @RealConstable @BatchelorShow Occitanie.

 By SIMON CONSTABLE

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Scan by NYPL, Public domain, via Wikimedia Commons

2/2: #FRANCE: #UK: Perfect weather for the farmers of the National Rally. . Cold and stormy for the MPS of the Conservatives. Simon Constable, Occitanie.
https://www.nytimes.com/2024/06/12/world/europe/macron-france-elections.html

1/2: #FRANCE: #UK: Perfect weather for the farmers of the National Rally. . Cold and stormy for the MPS of the Conservatives. @RealConstable @BatchelorShow, Occitanie.

 By SIMON CONSTABLE

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Ernest Louis Désiré le Deley (1859 - 1917), Public domain, via Wikimedia Commons

1/2: #FRANCE: #UK: Perfect weather for the farmers of the National Rally. . Cold and stormy for the MPS of the Conservatives. Simon Constable, Occitanie.
https://www.nytimes.com/2024/06/12/world/europe/macron-france-elections.html

FINANCIAL FLASHBACK:90 YEARS AGO: President Signs Stock Measure (founding of the SEC)

By SIMON CONSTABLE

Wall Street isn’t what it used to be. It’s better for investors.

In large part, for that, we can thank the signing of the Securities Exchange Act in June 1934, creating the Securities and Exchange Commission. 

“The old Wall Street was kind of corrupt in many ways with a lot of market manipulation,” says Richard Sylla, emeritus professor of economics and financial history at the Stern School of Business. 

Significant changes introduced included limits on investing using borrowed money—which had been unfettered during the 1920s in the lead-up to the 1929 market crash that ushered in the Great Depression. The new laws also banned market manipulation.

But perhaps most important was the mandatory registration of all company annual and quarterly reports according to standard accounting rules. 

Despite some grumbling over the new rules, things changed for the better. “Wall Street is considered a much fairer place than it was now,” Sylla says. “The world has benefited from the 1930s legislation.” 

One of the most intriguing aspects of the law was President Franklin D. Roosevelt’s appointment of Joseph P. Kennedy, patriarch of the Kennedy family, as the first SEC chairman. Read original here.

US Securities and Exchange Commission, Public domain, via Wikimedia Commons

#UK: Starmer and Sunak debate & What is to be done? @RealConstable @Batchelorshow Occitanie

By SIMON CONSTABLE 

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National Archives and Records Administration , Public domain, via Wikimedia Commons

#UK: Starmer and Sunak debate & What is to be done? Simon Constable, Occitanie
https://www.msn.com/en-gb/news/other/uk-s-labour-says-sunak-lied-about-its-tax-plans-in-election-debate/ar-BB1nFug

#FRANCE: Commodity prices moderate waiting for the EU Election. @RealConstable @BatchelorShow Occitanie

By SIMON CONSTABLE 

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#FRANCE: Commodity prices moderate waiting for the EU Election. Simon Constable, Occitanie

https://www.msn.com/en-gb/news/other/uk-s-labour-says-sunak-lied-about-its-tax-plans-in-election-debate/ar-BB1nFugR

Eugène Trutat , Public domain, via Wikimedia Commons

Briefings Magazine: A Global Shift in Trading

By SIMON CONSTABLE

The growth in world trade has been nothing short of an economic savior since the end of WWII. As America reigned supreme, international trade grew from a mere 4.2 percent of world GDP in 1945 to 31 percent, reaching that peak first in 2008, and again in 2022 after retreating for a decade or so. This trade growth coincided with what economists expected: Over those many decades, increased trade lifted millions of people out of abject poverty and made some others rich. Unfortunately, those halcyon days seem to be ending—and quickly. Read more here.