Anthony Hilton started his column on the Evening Standard of October 9th 2009 with the sentence ‘We live in a strange world’. Indeed it is strange. The article was printed on the last Friday the paper was sold for 50 pence in the street. The Evening Standard, that was bought by a Russian magnate one year ago, was distributed from free from the next Monday 12th.
Hilton’s article ends with this paragraph:
When Banco Santander’s Brazilian banking business [sic] [Banco Santander Brasil SA] floated this week, it achieved a market value greater than the entire operations of Deutsche Bank or Société Générale.
And he concludes with Frankly, I just don’t believe that […]. An emerging markets bubble perhaps?
Why is so strange to Mr. Hilton? The decline of the US and the UK or the rise of one of the world’s fastest growing and developing economies?