The self help story rests on the ability of capitalism to quickly re-allocate wasted resources to productive use through Darwinian natural selection – often expressed through mergers and acquisitions.
Although not always popular in the media, an upsurge in this kind of activity would be a good sign that growth was set to strengthen.
As a realistic example of potential positive external change, my own greatest hope is that China begins to revalue its currency, a move that can help share its growth around the world while at the same time dissipating trade tensions.
Sentiment is the last potential positive. When this crisis started, pessimistic sentiment swept the world at internet speed, as a tsunami of bad news surged across continents.
As Bertie Wooster might say, an internet-speed sigh of relief would be rather spiffing.
John Haynes
Head of Research
Rensburg Sheppards
