Merryn Talks Money

Latest Episodes:

Is Brexit Truly to Blame for the UK’s Problems? Sep 22, 2023

Show notes

On this week’s Merryn Talks Money, host Merryn Somerset Webb poses the question of whether Brexit has actually harmed the UK economy as much as some may think.

The answer is discussed by her guests: Robert Colville, director of the Centre for Policy Studies, who voted for the UK to remain in the European Union, and economist Julian Jessop, who voted for the UK to leave. They agree that—in the short term—it’s hard to argue there isn’t some damage, given the friction the UK has created between itself and one of its major trading partners. Brexit has also added to political uncertainty in the country over the last few years. But what’s less certain, they say, is how much harm has been done by Brexit.

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Why UK Pensions Triple Lock Must Go and How ESG Threatens Democracy Sep 15, 2023

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Matt Cole, head of Strive Asset Management, the anti-activism fund co-founded by GOP hopeful Vivek Ramaswamy, assails the use of sustainability targets in determining executive pay. He joins this week’s Merryn Talks Money to discuss what he says is Strive’s mission— encouraging companies to “focus on excellence” rather than ESG mandates—and argues why he thinks ESG mandates threaten democracy.
Plus, Money Distilled author and senior reporter John Stepek on why the UK pensions Triple Lock needs to go.
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BONUS: Fringe Panel Aftershow, Why the Heavy Hand of the State Is Getting Heavier Sep 13, 2023

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Senior reporter and Money Distilled author John Stepek joins Merryn to talk through the themes hit in the two panels at the Fringe Festival in Edinburgh.

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Fringe Festival Panel Day 2: Jim Mellon, Richard Wilson, Paul Johnson and Simon Evans Sep 08, 2023

Show notes

Double feature this week--here is the second day of Merryn's panel "The Butcher, the Brewer, the Baker." Again, it was held at Panmure House--Adam Smith's residence between 1778 and 1790. We taped this panel on August 27, 2023. Guests include: Jim Mellon, Richard Wilson, Paul Johnson and Simon Evans.
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Fringe Festival Panel Day 1: Russell Napier, Anna MacDonald and James Anderson Sep 08, 2023

Show notes

This week, we bring you a lightly edited version of Merryn's panel at the Fringe Festival in Edinburgh called "The Butcher, the Brewer, the Baker and Merryn Somerset Webb." It was held at Panmure House--Adam Smith's residence between 1778 and 1790. We taped this panel on August 26, 2023. Guests include: Russell Napier, Anna MacDonald and James Anderson.
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BONUS: The Bank of England Arrives at a ‘Crunch Point’ Aug 15, 2023

Show notes

For your summer listening, the Merryn Talks Money team brings you an episode from another podcast you might like: In the City. This week, Francine Lacqua speaks to a panel of Bloomberg experts including Bloomberg Opinion columnist Marcus Ashworth, reporter Tom Rees, and Ana Andrade of Bloomberg Economics. They discuss the central bank’s strategy and what moves the monetary policy committee might make next.
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A Conversation With Vivek Ramaswamy: the Man Who Warned of 'Woke Capitalism' Aug 04, 2023

Show notes

This week, we bring you an earlier interview by Merryn Somerset Webb of Bloomberg's Merryn Talks Money, originally recorded in November 2021 as part of the MoneyWeek podcast. It's a conversation with Vivek Ramaswamy, author of Woke, Inc., biotech entrepreneur and a far-right candidate for the 2024 Republican Party nomination. We're republishing it because the populist themes discussed in the interview, like "woke capitalism" and "boycott culture," are back in the news. And so is Ramaswamy himself.

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How Angry Should the UK Be With the Bank of England? Jul 28, 2023

Show notes

Is it time to get out of passive funds and switch to their active brethren? Or should you dump equities entirely and find a nice savings account that pays 4%? While the latter means you won’t be maintaining the real value of your capital, at least you won’t lose too much of it. And what of silver or gold, or perhaps even Bitcoin? If you had to choose one, which would it be?

And, just to ask, how angry should UK investors be with the Bank of England for forcing them to think about all of this? Or that the central bank left quantitative tightening too late and lost a fortune on their bond portfolio?

In this special ask-us-anything episode of Merryn Talks Money, host Merryn Somerset Webb and senior reporter John Stepek try, with the help of reporters Joe Easton and Eddie Spence and Bloomberg Opinion columnist Marcus Ashworth, to give some answers. No one chose Bitcoin over real money and no one stepped up to defend the Bank of England. But there wasn’t 100% agreement on the rest. Listen in for the conflicts, some summer reading suggestions—and a few reasons why you should watch the Barbie movie.

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Mervyn King Says the Bank of England Is Making a ‘Big Mistake’ Jul 19, 2023

Show notes

Former Governor of the Bank of England Mervyn King says the central bank hasn’t been covering itself in glory of late, and that’s partly thanks to it falling victim to groupthink. The economics profession is jammed with brilliant people, he argues on this week’s episode of Merryn Talks Money, but unfortunately, they’ve all been taught the same thing: money has absolutely nothing to do with inflation.
Believing that was a “big mistake,” King says it’s brought the UK economy to where it is: inflation at multi-decade highs and the BOE having its credibility questioned.

According to King, it’s likely that—despite all money supply indicators signaling the consumer price index will soon be falling fast—the BOE will keep raising rates and the UK will end up in a recession. The central bank will have made the misstep “in both directions over a period of three to four years.” He points out that whether rates go up or down a little over the next year won’t change the fact that they are likely to remain far above the historical lows to which people are accustomed. And that suggests all asset prices are going to have to come down relative to income.

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US Inflation Will Keep Falling, Intertemporal’s Pellegrini Predicts Jul 14, 2023

Show notes

Inflation in the US is going to continue falling, says founder of Intertemporal Economics Brian Pellegrini, and much faster than one might think. He joins Merryn Somerset Webb on this week’s episode of Merryn Talks Money to share his predictions. Indeed, the rate of inflation will drop so quickly that it will unnerve the US Federal Reserve, he says.

Pellegrini contends signs of the decline can be seen in inventory levels, factory prices in China and the labor market. He argues that it’s also reasonable to think the Fed will turn to monetary easing in the not-too-distant future, claiming the central bank has become politicized.

Going forward, he warns that if interest rates stay too low this time around, there’s every chance of another inflation explosion. So what should investors do? Pellegrini says look at energy and look at agriculture. And if you ever have to choose between gold or Bitcoin, choose gold, he says. We can be almost certain people will still value gold in a decade, says Pellegrini. We can’t say that about Bitcoin.

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