And when money is costless to produce, why do some people make things so purposely difficult for the rest of us? This is from Matthew Parris in Saturday’s ‘Times’ and suggests that the Coronavirus crisis is having interesting consequences for the Conservatism of which he used to be a member: Well, I’m sure that’s what… Read more
Category:
Money
The Magic Money Tree used for the advantage of banks – again
These are key quotes from the British Business Bank, the bank designed to keep business running till the Coronavirus crisis passes: Coronavirus Business Interruption Loan Scheme gives the lender a government-backed guarantee for the loan repayments to encourage more lending. The borrower remains fully liable for the debt. The Big Four banks have agreed that… Read more
Bankers still rool…
I don’t agree with the idea that we have to borrow money in order to have any, but the calculation in the image below demonstrates that, even within the orthodox borrow to spend framework the calculations are favourable, if we presume that everyday people are as worthy as banks themselves for government help for short… Read more
Jetting in to the right understanding of where money comes from…
Amid the Covid 19 crisis why are we not insisting that the government fully uses its money creation powers? Oh hang on, some are: Sky News understands the bosses of Virgin Atlantic will write a letter to Prime Minister Boris Johnson saying the UK airline industry needs £7.5bn in government aid due to the impact… Read more
Covid-19 … continued
First – let me be clear: I’m no expert. But simple logic suggests that the current government’s idea of engendering herd immunity is both logical and cruel – people will die now, who might otherwise die later – even much, much later. But if we keep well apart until further notice which is broadly the… Read more
A Perfectly Regressive Tax – a guest post by Michael Green
Economists and politicians get worked up about the peril of Public Sector Debt, but seem far less worried about Private Sector Debt. This is surprising, because Private Debt should be at least as dangerous. It seems subject to far less scrutiny, even though it is subject to constant selective pressure towards instability. Here, I will… Read more
Message for Lisa
“The lesson from the last election… is that people are smarter than we think.” according to Lisa Nandy. I cannot unfortunately embed the actual snippet from the Newsnight programme – but Lisa Nandy says that Labour made promises in their latest manifesto, that they simply couldn’t keep – which is, I’m afraid.. completely untrue… Still,… Read more
Authoritarian Capitalism
CoronaVirus could possibly, spell the end for some Eurozone banks as by pushing the Eurozone ito recession it could make their lives very difficult. It is certainly true that the German economy particularly, export orientated as it is, has suffered since the Chinese downturn and CoronaVirus cannot be helpful. I would not be surprised if… Read more
The mentally disordered are actually our government – not their servants
Having just finished ‘The Secret Barrister’, Stories of the Law and How it is Broken’ there is similarly interesting, and frightening, paper on the Mental Health of the Police entitled, on matching lines to the Secret Barrister, ‘Where’s the humanity?’ I quote some considerable and cogent prose below: So why is mental health within police… Read more
Getting it right after exhausting all the alternatives
There is a striking article here by the editor of the ‘Spectator’ – that’s the current one, rather than the former one and current Prime Minister. Entitled “Sajid Javid: it’s time to tear up the old investment rules”, the piece ascertains, as though in a blinding revelation: With government able to borrow at 0.8 per… Read more