Protestors criticised for looting business without forming Private Equity firm first

I loved this headline from the American satirical website “The Onion” It concerns the rather unsurprising discontent in Minneapolis following what looks to be a police arrest using deathly force. Interestingly it seems that fires in the disorder were contained rather than extinguished by the fire brigade – seemingly as further protest. But the short,… Read more

Harvesting other people’s debts should not be a business model

Crises tend to reveal unacknowledged truths. In 2008, we learned that the majority of the financial wizards we had been taught to treat with awe for the previous two decades were, in fact, little more than scam artists — and rather clumsy ones, at that. The coronavirus, and resulting lockdowns, is teaching us an even… Read more

Debt is control

Nick Macpherson, former Permanent Secretary to the Treasury has tweeted: Writing off NHS trust debt only justifiable if correlated with high pressure areas, eg London. Otherwise an inefficient way of addressing resource constraints. Of course, it adds another 0.7% to national debt/national income ratio. This crisis is becoming expensive. #soundmoney Which comment is, as many… Read more

Liberty, Equality and Accountability

No, Fraternity, isn’t part of this…. Nonetheless, I suggest this is a very powerful conclusion by Billy Bragg in an interesting podcast with the lawyer Adam Wagner, in which they talk about ‘agency’. I thought it very incisive as they, quite correctly in my view, suggest that neoliberalism gives ‘agency’ to both businessmen and ‘markets’… Read more

Labour’s dilemmas and how to resolve some of them

I have mentioned Russ in Cheshire before. He has proved to be an interesting if unconventional twitterer. What follows is no more than the truth and yet practically every media outlet treats Labour’s tax proposals as rampant Marxists stealing all of our income. Really? Labour’s tax plan only affects people earning more than 3 average… Read more