This is an item from the twitter feed of Andy Verity, BBC Economics correspondent, about housing and how he thinks the market is overheating: Andy Verity@andyverity·31mThe official forecaster the Office for Budget Responsibility has warned about the effect on government finances of a rise in interest rates. Never mind them (they can always ‘print’ money… Read more
Category:
Economics
Economics Theory
Banks exist to create IOUs
That is literally what banks are for. If that is why banks exist, then the next question has to be who are they creating these IOUs for? This is important because those IOUs created by the money issuing authority are of little consequence. It can issue more of them or indeed accept back IOUs at… Read more
Hyperinflation – an attempt to buy yourself out of a previous currency collapse
I stumbled across this lovely explanation of the ‘hyperinflation’ – in this case in Zimbabwe. The article by outlining the years of disasters that led up to it, shows clearly that hyperinflation is not ’caused’ by printing money. It concludes: “Hyperinflation” is a kindergarten concept of currency collapse. Calling a currency collapse “hyperinflation” is like… Read more
Every village, every hour
There is an excellent and intriguing report just released from the Council for the Preservation for Rural England (CPRE) entitled ‘A comprehensive bus network for rural England.’ It is relatively short but full of information and decent recommendations and well worth a read if you are interested. Rural transport is, I had thought, a seemingly… Read more
Understanding some Monetary History
Now we have been here before but this graph (below) is one to try to keep in your head when you’re told about the ‘inevitability’ of Weimar style hyperinflation. It is much less obvious than we are told… That hyperinflation, the memory of which, combined with the subsequent general unemployment, allowed Hitler to come to… Read more
Money issuers are in charge
I think this Australian point of view needs to be better known because it is really not Covid related. In fact the government’s supposed lack of debt control has been called out. Now this is in a country with very, very few Covid cases and whose economy has not been ‘destroyed’ by it. So we’re… Read more
Is Sadopopulism actually the Tory Manifesto?
Although this talk goes back to 2017 I’ve never encountered Timothy Snyder before. I fear I probably should have. His concept of not just Populism but ‘Sadopopulism’ needs more attention. As an American his 12 minute ‘lecture’ is US orientated, but is also very relevant to Brexit and our current government. I’ve summarised it below… Read more
Banking with purpose
This 15 minute video was linked to by BBC economics correspondent, Andy Verity, who seemingly had just discovered it – although it was a presentation that was delivered in February 2018. If you haven’t seen it before it is well worth watching if you are wondering how the UK manages to have a ‘booming’ property… Read more
This is now British ‘Erasmus’
The so called ‘Turing’ scheme. The fact that Turing, poor chap, committed suicide as a result of the contemporary government legislation seems to be lost on the Tories. The information below was from Guy Verhofstadt. (Click on the image below to enlarge a bit.) Erasmus actually allows students of all backgrounds to travel & work… Read more
What an indictment of the the current UK government
I confess this is the only evidence I have that this is a foodbank queue – but really why else would you stand in line for so long? It makes me feel sick at heart…. Read more