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Philip Hammond’s first Autumn Statement will also be his last. In 2017 there will be a Spring Budget followed by an Autumn Budget. In early 2018 there will be the first Spring Statement. The Chancellor presented his Autumn Statement against a background of reduced growth forecasts and the “urgent” need to tackle the long-term weaknesses of the UK economy.

This was the third Budget within the space of 12 months. It threatened to be the most difficult of the trio because of constraints imposed by June’s EU referendum and disappointing economic numbers.

Gold fulfils the conditions of a perfect “medium of exchange” (or money). It cannot be created or destroyed by human whim, it has few alternative industrial uses, which might affect its value and it has a very low weight to value ratio (and so is easily transportable).
Though the financial crisis of 2008 was created in America by the collapse in value of US sub-prime, mortgage-backed securities, its consequences have been far more damaging to the European banking system than to those in the US or the UK.
The Asian economies have for several decades delivered faster economic growth rates than Western economies but their stock markets have been far more volatile. Though these growth rates are now receding, they are still expected to be much higher than in Western economies over the next decade
The Japanese stock market peaked at the end of 1989 at almost 39,000. The bottom (so far) was in early 2009 when it briefly went below 7,000. Since 2000, it has not been higher than 18,000, and is currently trading at around 9,000.
Since 1979, the UK economy has shown a level of economic growth, inflation and stock market performance that essentially corresponds to the average, Western economy.
Since the early 1980s, US consumer spending has been the driver of the global economy as its peaks and troughs have tended to lead trends in the rest of the world. It has been the most productive, large, developed economy in the world because it has been so successful at developing and applying new technology. The US stock market has been one of the best-performing markets over the last 25 years.