The financial crash after the Lehman Brothers collapse saw the biggest global monetary crisis since the end of WW2. It led to a lost economic decade for many – average incomes in the UK still languish far behind their 2008 peak.
15 September 2008, the fall of Lehman sent shockwaves around the world. It was (and still is) the largest bankruptcy of all time. The colossal investment bank fell with $639 billion in assets and $619 billion in debt.
Founded in Montgomery, Alabama by German immigrants in 1850, the firm grew towards the end of the 19th century as America became an economic powerhouse. For an investment bank that survived the railroad bankruptcies of the 1800s, the Great Depression of the 1930s and two World Wars, it was a reckless rush into the doomed subprime mortgage market that proved a fatal error. Continue reading →
The news in July really could not have been much worse. The threat of a trade war between the US and China simmered throughout the month, and then on 31st July President Trump ramped up the tension with proposals of a 25% tariff on $200bn (£152bn) of Chinese imports.
China has already placed retaliatory tariffs on some American imports in response to the first wave of ‘Trump Tariffs’ (they even have their own page on Wikipedia now) and will surely do the same to counter this latest move. Small wonder that credit ratings agency, Moody’s, warned that there could ultimately be tariffs on 5% of total world imports if the trade war continues to escalate. Continue reading →
You may have seen Curtis “50 Cent” Jackson make the news at the end of January after becoming a Bitcoin millionaire. The rapper, actor and businessman made his 2014 album, Animal Ambition, available for purchase for a fraction of a Bitcoin upon release, making around 700 Bitcoin from sales. 50 Cent has admitted that he had forgotten about the earnings, which have sat untouched since 2014 and are now reportedly worth somewhere between £5 million and £6 million thanks to the meteoric rise of the cryptocurrency’s value in recent months. Continue reading →
Copyright Simple Solutions Financial Management Ltd. 2017 | Web Design by CRE8
Simple Solutions Financial Management Ltd is authorised and regulated by the Financial Conduct Authority.
We are entered on the FCA Register under Ref no 511977. Registered in England & Wales. Company Reg. No 6920858