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
Category:
Money
The competitive insecurity of money as a religion
‘Le Monde’ and also – in more detail – the ‘New York Times’ have reported on President Macron’s interesting recent efforts in West Africa. Macron has persuaded the ex French West African colonies to abolish their previous ‘CFA’ currency, requiring 50% of foreign currency reserves to be kept in the French Treasury (who knew?). A… Read more
‘Rewilding’ the country’s economy is really all in the money
There is an interesting concept in an article by George Monbiot talking about ‘rewilding‘ British politics. He starts by suggesting that training should be given in spotting fake news items as they do in Finland. I confess I used to think the Brits were far too cynical to believe in much of this stuff. I… Read more
Further to how money works – on the doorstep, in about 150 words
To continue from my ‘how money works’ post yesterday: “Ah yes, but what about inflation? If the government creates too much money we end up like Zimbabwe.” First, what aspect of our government is, or even likely to be, like Zimbabwe? Would any British government think of it as a model? Can you imagine the… Read more
Explaining how money works on the doorstep in 220 words
I’ve previously suggested that I think it unlikely a realistic progressive reform agenda will succeed before there is a proper understanding of where money comes from. So when someone says something like ‘we cannot afford it, we cannot spend like that – the government doesn’t have enough money…. ‘ what do you say? This is… Read more
Self-immolation is a new political fashion
That at least seems the only explanation for a nation which has endured a decade of austerity to be electing the self same tormenters for another session. I take three things out of this: First, our electoral system needs a thorough overhaul. A party elected on a minority of the votes cast has achieved an… Read more
Parallel currency may be the key to understanding the Brexit mindset
I have a friendly electrician who is married to a Scot and who is a rampant Brexiter. He thinks Scotland is nuts to want to sacrifice a 300 year, or rather longer, association with the rest of Britain, in favour of the EU. He has a point. Getting out of the EU after 45 years… Read more
Harnessing the power of the Post Office
I’m well aware of the alleged recent increase in wealth but it seems to be overwhelmingly and generally concentrated only in the top 1%. Yet with the recent demise of another payday lender, QuickQuid, shouldn’t we be trying to increase the power of all that 99% of the poor? Of course to suggest that wealth… Read more
Libra is not so free
It seems that Facebook’s intentions have been unwittingly exposed in this article. Zuckerberg cautioned that the U.S. might lose its “financial leadership” on the world stage if Libra is not allowed to launch, noting that “China is moving quickly to launch similar ideas in the coming months.” Of course China – or at least its government… Read more
Capitalism’s indebted dynamism
Paul Mason has an interesting article in the New Statesman, which starts: In his own dumb way, Matt Hancock just summed up the survival strategy for global capitalism. Blinking into the camera lights, Britain’s hapless Health Secretary assured viewers that he could promise to build 40 new hospitals with just £100m because “the rest of the… Read more