When The Facts Change – with Liam Halligan – Episode 14 скачать в хорошем качестве

When The Facts Change – with Liam Halligan – Episode 14

This show was first broadcast on Liam Halligan's "When The Facts Change" Substack on Thursday 23rd January 2026. For early access to the show and all Liam Halligan's interviews, subscribe to his Substack: https://liamhalligan.substack.com/sub... At the time of the 2008 global financial crisis, the S&P500’s cyclical adjusted Shiller price-earnings ratio was up above 25 – a historically high valuation, ahead of what was a major downward correction. Today, after markets surged then fell sharply during Covid lockdown, valuations are even higher than ahead of the 2008 collapse. That same S&P500 Shiller index is now above 40 – dot.com-boom territory – with share indices these days pumped up instead by AI-related stocks. Can these sky-high valuations continue amidst ongoing sluggish growth across the West to say nothing of looming sovereign debt crises? Liam Halligan discusses the current state of global equity and bond markets with the finance industry legend that is Justin Urquhart-Stewart, Co-Founder of Seven Asset Management. They chat not just stock market valuations but ask why there are now so few share listings in the City of London. When it comes to Trump and Greenland what is America’s endgame? And with the US President dominating the headlines, what’s been going on in Venezuela and Iran over recent days, as much of the world’s media has been focussed on this week’s Davos summit - and debate over the future an arctic outpost the size of Mexico and Saudi Arabia, but with a population of less than 60,000. Liam gets the geopolitical lowdown from Ben Aris, founder and editor of the emerging markets focussed news site bne-Intellinews. Ben’s site specialises in business and political analysis and commentary not just from the post-Communist world, but also Africa, Latin America and the Middle East. Join Liam and Ben on "When The Facts Change" for a fascinating conversation. This week’s show also takes a look at the UK steel industry, amidst reports that the contract for 7,000 tonnes of steel for a government-backed net zero investment on Teesside has been awarded to a Chinese supplier. What future for Britain’s once pioneering steel industry, after the closure in September 2024 of Tata Steel’s blast furnace in Port Talbot? Does it matter if Britain can no longer produce superior strength virgin steel? Liam is joined in the studio by Simon Boyd OBE, Managing Director of Reid Steel, a man with decades of experience at the top of the UK’s steel industry, helping to run major facilities across the country. For early access to the show and all Liam Halligan's interviews, subscribe to his Substack: https://liamhalligan.substack.com/sub... Follow Liam on X: @liamhalligan bne-Intellinews: https://www.intellinews.com/ 00:00 Introduction 3:51 Start of JUSTIN URQUHART STEWART interview 05:48 AI Stocks and Market Speculation 08:30 Sovereign Debt and Global Economic Implications 11:37 The City of London: IPOs and Economic Challenges 14:50 Government Debt Markets and Economic Confidence 17:43 The Future of the UK Economy and Investment Opportunities 20:34 The New World Order and Geopolitical Shifts 23:46 Venezuela: Military Intervention and Economic Interests 27:10 Start of BEN ARIS interview 41:09 Iran's Protest Dynamics and Regime Control 43:54 US-Iran Relations and Military Options 47:32 Global Trade Shifts and De-dollarization 49:25 Greenland's Strategic Importance and Rare Earths 56:05 The Russia-Ukraine Conflict: Current Status and Future Prospects 01:01:55 Start of SIMON BOYD interview 01:04: 50 The State of the UK Steel Industry 01:09:55 The Future of Steel Production in the UK 01:20:25 Message to government to bolster UK steel making 01:21:55 Letter to Business Secretary Peter Kyle