The UK - and therefore its population - is living way beyond its means. We have a Balance of Payments deficit of about 7% of GDP means that, on average, we are all enjoying a standard of living which is 7% higher than we are earning. To support this unrealistic life-style we are either borrowing from abroad or selling assets to foreign interests year after year on a scale unmatched by any other developed country.
Following the UK's decision to leave the EU, one of the most important things on the agenda is the renegotiation of our trade relationships with the rest of the world. There is mounting evidence that current trade rules are a significant barrier to achieving climate change goals. Brexit provides the UK with an opportunity to change this.
It will take a huge amount of political will to bring about a radical change in energy investment strategies across the globe, particularly from wealthier nations who invest in developing countries. Renewable and low-carbon energy generation technologies are becoming less costly and studies show that in the long term, switching investment to these types of ventures will make economic as well as climate sense. The time is right to tip the energy balance but it needs governments to make the first push.
Buffett taught me that if one wishes to build wealth they should build businesses and that makes sense. The average S&P 500 company has a yield of about 1.5% after all, so if you were aiming to earn an income of say $100,000 per year you would need about $1.66 million worth of stock to earn that through dividend.
When it comes to the housing market, London has long been seen as a market within a market. After the credit crunch hit, and house prices across the country headed south, desire to buy within the capital remained robust. In seemingly no time at all, house prices within London had not only recovered but surpassed its previous peaks.
Since digital currencies leapt onto the scene in the early 1990s, they have been steadily gaining traction in the financial sector. The economic crisis in Greece and the recent slowdown in China's growth have given credibility to digital currencies as an alternative to traditional fiat currencies and led people to look for more innovative methods of transaction.
In their very haste to catch up and the urgency they attach to attracting investment, Cameron and Osborne are prepared to ignore criticism - and I suspect the advice of their diplomats - and downplay human rights and wider foreign policy considerations to put their emphasis on the purely pecuniary dimension of relations with the Chinese.