Isn’t it telling that almost all Christmas gifts have come from the Far East in recent years? Whatever happened to Lapland?

I have to confess I’m hopeless at buying Christmas presents. So is everyone else, in my experience.

At least I attempt to ensure that gifts derive from a cold, northern country where snow makes an appearance sometime during the festive season. Reindeers are de rigueur.

To escape the usual flood of Christmas gift packs of puddings and pickled onions, I usually treat myself to exactly what I want at this time of year. Early thoughts included an Apple iPhone, but the deals here are not very tempting when you already have a better phone and a superior camera.

So today I ordered up my present to myself. I’d been hoping to find a decent old Leica camera on ebay — say, an M4 — with those never-to-be-repeated optics that the Zeiss perfectionists created back in the 1960s when cameras were truly male jewellery.

Hoping is not the same as finding though.

Then, yesterday, an online ad appearered in my inbox for a Panasonic digital SLR with … a Leica “superzoom” lens. It was too much to resist :

It arrives tomorrow, and I’ll be out immediately road testing it around the town. I’ll even favour you with a few shots to brighten up your weekend.

Where is it manufactured? My guess is China — but I live in hope it may be Lapland.

We’ve all had the experience of a good mood turning sour after watching a news bulletin full of distant, but gloomy, events. It can ruin a whole evening by casting a pall of low-level misery over everything else.

Obviously there are health implications in this phenomenon usually observable through higher blood pressure and faster pulse rate. But can it also affect your wealth?

Jason Zweig believes that “the more you look at stock prices, the more illusory ‘trends’ you see.” His thesis is that Neuro-Economics “can help you understand your reactions and get richer”.

All this appears in his book, Your Money and Your Brain — Become a Smarter, More Successful Investor, the Neuroscience Way.

Neuro-Economics is a blend of neuroscience, economics and psychology designed to interpret the brain’s reaction to economic stimuli like falling stock prices. Apparently, within 12 milliseconds (one-25th of the time it takes to blink an eye), the news activates the amygdala, a part of the brain that initiates fear and anger. Falling stock prices incite the same brain circuits as the roar of a wild beast.

In those moments, if you make a snap decision, the likelihood is that you will sell your shares. You will also believe you have made a rational decision because the process happens so fast you are unaware of it.

However, all data shows that if you hang onto your shares, you will do much better in the long run. So what’s happening here?

The conclusion is that, the impulse to stay continuously informed about your shares in times of market turmoil leads to nothing but trouble — not to mention high blood pressure and pulse rate.

“Furthermore, the more often you update the prices of your stocks, the more often you will perceive ‘trends’ that are most likely to be just illusions.”

Neuroscience shows that it takes only two iterations of a stimulus for your brain to form an automatic and uncontrollable anticipation of another repetition. However, it’s more likely than not that the “news” was just noise.

Zweig’s advice to investors is : “Stop clicking on market websites. Stay away from the Bloomberg terminal. If you read the FT, pass over the market news and spend your time on the opinion pages instead. You will surely be happier — and almost certainly end up richer.”

Now that sage advice applies not only to economics and investments, but it can also be extrapolated into other areas as well.

It’s generally agreed that 90 percent of what we worry about never happens. It follows that 90 percent of speculation and prognoses never happen either. Keeping up with news, current affairs, politics, and many other topics, will prove to be nothing but hot air and a lot of bothersome timewasting. We should save our equanimity for the actuality of our own lives and never make decisions on the basis of incoming “news”.

This book neatly adds convergence to a couple of trends. All those books that tell us how to save time, e.g. The 4-Hour Workweek by Timothy Ferriss, and the current crop of books showing how great scare stories like mad-cow disease and apocalyptic warnings of the end of the world, never turn out the way the doomsters predict.

The Simpsons really is good for your health and your wealth.

Before you switch off, I don’t mean climate change. That’s a doddle since we have little control over it, despite what the doomsters think. Nor am I writing about nuclear war, surely a distant memory now.

I mean the alarming slide into a 1930s style worldwide Depression.

I’ve written a few times in Syntagma about the constraints of running a business in England, where the pound sterling is the currency, while our income is designated and paid in US dollars. Now one of the world’s major companies, Airbus — which is partly owned by the French state — has announced that its business model is shot through and broken.

Their problem is that the dollar has fallen even more against the euro than the pound. A euro is now worth $1.50. A few years ago there was jubilation when the euro achieved parity with the dollar. Eat your hearts out Eurocrats!

Airbus sells more airliners around the world than Boeing, but since aircraft prices are designated in dollars, they get paid one third less than Boeing compared with the period of parity. In a tight-margin international business that’s fatal. Many other European companies are feeling the pinch too — business confidence has all but collapsed in Germany, and the French are going through one of their periodic episodes of industrial unrest, with workers marching in the streets against Government diktat.

The driving mechanism behind all this is the massive US trade deficit. The Treasury is content to see a steady drop in the dollar as a correction to this deficit. Other countries see it as “beggar my neighbor”.

But more ominous forces are gathering now which will really put pressure on the world’s financial system. The new economies of China, Brazil and India are starting to move their large trade surpluses out of dollar assets into euro assets. The same is happening with the petrodollar states in the Gulf. Apart from setting up a future Wall Street crash, it’s also putting great strains on the eurozone, which is a ragbag club of nations speaking different languages and with very different economies.

The strain is such that Nicolas Sarkozy, President of France, is talking about limiting capital flows into the eurozone. The EU Commission has said this is possible because of a little known clause in an annexe to a policy document dating back to 2003. Europe always reverts to political will over the rule of law.

Since this decision could be taken by majority voting of finance ministers, Britain could be outvoted here. The result of a cap on capital inflows would be devastating to London, which is the world’s leading financial centre. In such circumstances Britain would have no choice but to withdraw from the European Union.

Stateside, the sub-prime mortgage fiasco is feeding into the wider situation and genuine fears of a 1929 crash and 1930s type depression are rife among those who know about these things.

Will it happen? Luckily for Americans, “cometh the hour, cometh the man”. Ben Bernanke, Chairman of the Federal Reserve, has spent his life studying the causes of the 1930s Depression, so is unlikely to allow the same mistakes to be made. He can also call on the advice of wily old Alan Greenspan, now retired, whose new book, The Age of Turbulence should be required reading for anyone interested in the global economy in the 21st century.

Syntagma’s guess is that Western economies are resilient and flexible enough to withstand the shocks that are coming without withering on the vine. The joker in the pack, though, is the eurozone, which lacks the strength of the Common Law countries in dealing with the rest of the world. There’s even wild talk in Brussels about a Fortress Europe, with the euro countries only trading with themselves behind massive tariff walls. Sound familiar? It’s Politburo time again in the Chancelleries of Europe.

I believe the euro currency will collapse within five years. Britain will withdraw from the EU to preserve its international trading position, and America will take a severe knock but will recover strongly to regain its former position.

As for the emerging “superpowers”, they face a collapse in their export trade from which they will struggle to recover — think Japan in the 1990s and the meltdown of the Tiger economies of the Far East.

There’s a lot of water to flow under this bridge yet. It’s a greater immediate threat than climate change, so let’s ease back on all the noise about carbon footprints, offsets and trading.

There’s Armageddon to deal with first.

Astonishingly, in Britain every child in the land is entitled to Child Benefit, a regular payment from the Government (read taxpayer), whether the family needs the money or not. This faux largesse means that around 70 percent of the population receives some sort of benefit from the political system.

Add to that astounding fact the dismal truth that the present administration couldn’t assemble a flat-pack whelk stall without it falling down, and you have a recipe for big trouble, especially when it insists on putting all data into massive computer databases.

Recap : a £20billion ($42bn) nationwide computer records system for the National Health Service is still not operational after years of tinkering. Experts say it will never work. Similar projects for agriculture, passports and other ministries have met with the same fate at vast cost to the taxpayer.

Bombshell : yesterday we were told that the personal data of nearly half the nation has “gone missing”. In the newly merged department of Inland Revenue and Customs, a “junior official” downloaded the personal details, including bank account data and National Insurance numbers, of 25 million people and placed all of it on two unencrypted CDs.

The next step almost beggars belief if it hadn’t happened on the current Government’s watch. The official then put the CDs in an envelope and posted it. The package wasn’t even registered so couldn’t be tracked or traced. Naturally, it’s now “lost in the post” or I wouldn’t be telling this tale of woe.

Alternatively, it may have been stolen to order by organized crime. We have been told the official concerned is now under guard in a “safe house” to protect him or her against the media — and presumably criminals seeking “to make him an offer he can’t refuse”.

Outcome : this morning there’s huge panic all over the UK as people wake to find their bank accounts and personal identities compromised in the most dangerous way possible.

Once again we see the perils of allowing a central administration to accumulate vast quantities of information through a system of universal benefits more in tune with the Soviet era than the distributed nature of data in the age of the internet.

People who advocate such policies should never again be entrusted with a modern nation’s cash and data.

But don’t hold your breath. No politician has resigned — only a hapless civil servant.

Plus ca change …