Global Matters Weekly – 15 August 2022

Change – it’s a constant

by Gary Moglione

— We need to operate closer to the frontiers of where technology is going.

Back in February I gave a sob story of my childhood of how the 1970s and early 80s saw “austerity” hit my household, including my father’s industrial clothing factory closing down. Recent developments on the Continent, brings another childhood memory to mind; cold housing. Admittedly, the central heating system, decades past its use by date and an insufficiently insulated house, was not conducive to staying warm. However, an article caught my eye in the Financial Times this week that showed the average temperature in British homes has risen considerably since the 1970s; even those that actually had central heating in 1971 saw average temperatures rise from circa 14C to 18C today.

Market Snapshot

  • Global equities returned 3.0% last week, marking the first fourth consecutive weekly advance this year
  • Stocks rallied after US data showed signs that inflation, while still elevated on an annualised basis, had started to slow
  • Brent crude rose 3.4% last week to $98.15 a barrel
  • Gold rose 1.5% last week to $1802.4 per ounce