After today’s percentage of GDP reduction on International Trade which was announced by Sunak, I cannot understand how, if the GDP is reducing anyway, as it clearly is, all the rhetoric is of much consequence. Still it may be a useful sop to the Tory Right Wing who may not realise this, any more than… Read more
Sunak’s day – again
While much of his personal life has been covered in Tatler (where else?), I thought this was an informative article on Sunak who appears to be a banker to his fingertips. He seems to be a natural austerian – for everyone but himself, naturally. The piece suggests that he is much more ‘conservative’ – fiscally… Read more
Is Johnson all there?
This is from Monday’s Times: I much regret I must conclude he is not in that so-called ‘safe place’ that we would wish any Prime Minister to be – and, even more unfortunately, I regret that in consequence, nor are we…… Read more
Fiat Money Facts.. continued
If proof were needed that we need to adopt – rather than MMT, actual ‘Fiat Money Facts’ we have it from the Treasury Select Committee. About three quarters of the way through the session there are questions from Steve Baker MP, Brexiter and Tory, no less. Remarkably he asks about Modern Monetary Theory (MMT). He… Read more
Fiat Money Facts
This seems to me a much better shorthand description of the monetary system than Modern Monetary Theory (MMT). OK it clearly doesn’t include the add-ons such as a Job Guarantee but the Job Guarantee is an unwelcome distraction in my opinion – what we need is simply a consistent endeavour to achieve full employment. But… Read more
Whose Sovereignty exactly?
This was in Saturday’s Times: And the Baron of Siberia bit had to get permission from Putin. Now, joy of joys, it has been granted. We have a Baron of Siberia in the House of Lords – that must be what the Conservatives meant by taking the money, sorry, taking back control…. Read more
Beware December 31st
The food industry now thinks that Brexit will actually be government’s ‘worst-case scenario’ on January 1st and the Grocer has added this little table to give some idea of shortages: It rather confirms Tesco’s suggestion that there will be two or three months of fresh food disruption – indeed the same article quotes one industry… Read more
REWIRING THE BANKING AND MONETARY SYSTEM – by Jim Osborne
In his masterpiece of a book “Debt- the First 5000 Years”, David Graeber concludes in the final chapters with what is a prediction and a challenge. The prediction is that we are at the early stage of a new age in the history of debt and money which is likely to last 500 or 600… Read more
FT news on handbag economics
This FT article ‘Sunak faces worst hit to UK finances since second world war’ is worth reading – not so much because it indicates that Sunak has got pretty much everything wrong about money that it is possible to get wrong but also because these misunderstandings have lead him to think the rich have to… Read more
New poster campaign
Which is, I suspect, organised by Led by Donkeys – the posters seem to suggest their blackly humorous and hard hitting style, which is, as more and more of us realise, no more than the truth: What they don’t mention is that all this self-inflicted hardship is actually in the middle of a pandemic…… Read more
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