David Buik is LBC's Markets Commentator and a Consultant to Aquis Exchange If I may be so bold, it is not one to be especially proud of. In response to this landmark, it was the FT'S Jim Pickard’s tweet on Tuesday morning “the FTSE-100 is just 16% above its 1999 dotcom-era high, while the S&P has more than trebled in value in the same period” that galvanised me to put pen-to-paper.
Europe also flourished, as the EU grew from a membership of 9, with Sweden, Ireland and the UK joining in 1973 to a total of 28 today, and despite the UK’s withdrawing its membership in 2020. UK GDP was as follows – 1973 6.5%, 1988 5.4% and 1997 4.9%. Since those halcyon days growth in the UK and Europe has fallen away and become stagnant. Not so in the US, with China chomping at the bit, waiting in the wings.