Understanding monetary ‘plumbing’ and where it gets us

There is an interesting podcast from the American site Macro’n Cheese with the Scottish Professor Mark Blyth, who, though he long ago emigrated and has become Eastman Professor of Political Economy at Brown University in the US, he has certainly managed to hang to most of his Dundonian dialect! I have to say I usually… Read more

Freeports are Brexitwash

Lizz Truss, in her inordinate wisdom, has announced some freeports which are going to be so marvellous in boosting our Brexit success. They are, as Barry Gardiner has already suggested, just a way of moving around employment. But did we know that the EU already permits them? There is a list here of all the… Read more

The cult comes first

Amid news that the pound has sunk to a 28 month low on no deal Brexit fears, I thought I should revisit an oldish report from the Institute for Policy Research, which pointed out that: The decoupling between wages and growth coincides precisely with the UK’s trade (and current account) deficit. The UK’s debts to… Read more

Both the deficit and borrowing are clearly important for the Tories

If not in the way we usually think. Just look at these counterintuitive figures: Plus we now know that the ‘debt’ has increased under Conservative governments from £759 billion to £1.7 trillion. But nobody ever mentions it – presumably because this keeps the financial sector happy. Yet the government ‘deficit’ – often referred to as… Read more

Media myopia isn’t the only crime – but it is one of the worst

While all eyes are turned upon the possibility of preventing a proroguing of Parliament (the spoof twitter account ‘Not Boris Johnson’ is currently thanking the 274 MPs who voted in favour of him closing down Parliament and running a dictatorship instead, whilst ‘Our future our choice’ has, wonderfully, dubbed Johnson as Trump with a Thesaurus),… Read more