On France Inter recently, the French Presidential candidate, Eric Zemmour, former journalist (now, who does that remind us of?) says that: “Il ne peut y avoir deux civilisations sur un même territoire.” By which I think he means that immigrants, bringing with them, their foreign cultures are not French – and never will be. This… Read more
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Peter May
Steve Barclay
Is Chancellor of the Duchy of Lancaster (a sinecure), Minister for the Cabinet Office and MP for North East Cambridgeshire and he is now to be appointed Johnson’s chief of staff. So he is in the unique position of being part of the Legislature, which is supposed to hold the Executive to account, part of… Read more
Compounding the spending and taxing
My previous post about government expenditure – and inflation – omitted I fear, the ‘multiplier’ effect wonderfully explained by Charles Adams here. Government created money circulates widely…. Because when we tax we compound the spending and taxing – even on a mathematical basis we have this: Or, on a broader scale – this: Government and… Read more
Energy ‘pricing’
I’ve already suggested that government has not been straight with its energy narrative. We need, I think, to further recognise that there is absolutely no guarantee energy prices will fall in the future. So the Sunak system of handout now but clawback next year is, in effect, borrowing against major uncertainty. If the credit risk… Read more
Inflationary reply
I was rather surprised to read this tweet from Professor Jonathan Portes: This is Richard Murphy’s quote that he used: I really think Professor Portes’ comment is pretty low, and low brow. It is, I’d propose, considerably lower than when I suggest that putting up interest rates is monetarist nonsense. Does it stop inflation? No…. Read more
The wheels are falling off…
Johnson has lost, according to the BBC : Four senior aides to Boris Johnson have resigned from Downing Street within hours of each other amid growing pressure on the Prime Minister. Director of communications Jack Doyle confirmed his exit shortly after the departure of policy head Munira Mirza. Munira Mirza has been an advisor to… Read more
Central banks don’t do money
I loved this tweet from a lady called ‘Patricia T’ commenting on today’s – useless – Bank of England rate change. The Bank of England seem to really believe in their own mighty status and have little idea about any social science – including the social science that is economics: Patricia T.™@fjcruiserdxb· Replying to @D_Blanchflower… Read more
More lying – this time from Sunak at the Treasury
How can you have a ‘rebate’ of £350 which needs to be paid back? If any of it needs paying back it is no rebate at all. It is no wonder they don’t admit the truth on money when they call an amount that is mostly an interest free loan, a rebate….. Read more
The levelling up con
I didn’t know there was a Centre for English Identity and Politics – but there is – at Southampton University, led by former Labour MP Professor John Denham. They have pointed out that England is highly unequal – and unusually so amoung the advanced G7 economies. The levelling up agenda is therefore, not only an… Read more
Russia has no respect for the UK government
Mind you of course – that might be because they’re pretty certain they’ve bought it – although the conclusion of their foreign ministry spokeswoman, Maria Zakharova indicates, I suggest, that they are a bit worried about value for money…. The Russians have it right, I think…. Read more