There is an interesting book review in the FT (occasional paywall) on “Unelected Power -The Quest for Legitimacy in Central Banking and the Regulatory State”, by one, Paul Tucker, previous Deputy Governor of the Bank of England, no less. It comes in at 656 pages so I’m glad the FT has read it so that… Read more
Category:
RentierCapitalism
Président Macron’s government to sell Paris’s airports
I was most impressed with a journalist’s summation on France 2 of the proposal by Président Macron’s government to sell Paris’s airports. They are currently owned by just a shade more than 50% by the state.. The Prime Minister has said it is not part of the government’s purpose to extract dividends from infrastructure. Though… Read more
The REAL argument for Universal Basic Services
As a postscript to the previous piece on Universal Basic Income, (together with the interesting comment from Charles Adams on the same page) an American article makes a coherent case against a full Universal Basic Income: Our current economic crisis goes beyond the problem of income inequality. While inequality garners the most attention, it’s a… Read more
Jubilee Shares
The Guardian has a current headline: “Stock market turmoil: All eyes on the Dow after $4tn wiped off global shares.” A shame, probably for our private pension, if we have one. Yet nobody has actually lost $4tn though one or two might have lost something if they needed to sell in a declining market. It… Read more
The Bourbons would still be doing okay under English law
It has been a long time coming but it seems that at last leaseholds on new houses are to be banned. And ground rent on leasehold flats will apparently be able to be set only at peppercorn levels. But there are still not any definite plans to help those already affected by the blatant rent… Read more
Deceit NOT Ignorance
I feel I must draw attention to the blog by Simon Wren Lewis on Monday this week. It is well worth a read throughout. But it also contains this withering indictment of ‘our’ government. It is a devastating comment, particularly for an Oxford academic and a – hardly revolutionary – ex civil servant. “Some may… Read more
Brexit – Reasons for Resentment
Following the suggestions for the reasons to remain a summary of the reasons to leave the EU might also be useful, though I would suggest there are not, in fact, any compelling reasons to leave, and so I prefer reasons for resentment. They seem to comprise three basic ideas: the democratic deficit, too much red… Read more
Los Lobos -‘The Wolves’
The Tories have recently come out with two ‘ideas’ that involve financialisation packaged as ‘social benefit.’ These two bits of financial engineering will, no doubt, increase private debt and encourage more bubbling of housing. The first is their intention to build more council housing that is paid for by the future sale of the houses… Read more
The End of the Home Owner Dream – New Homes for Rent Only.
When I arrived in the UK in 1981 housing was abundant and cheap. I was able to purchase a house well within a year and there were many available starting at about 75% of my annual salary (£6,500 as a Post Doc in the University of Sheffield) but I purchased one on an 80% mortgage… Read more
Mental Health Awareness Week
This week is Mental Health Awareness Week . What an excellent time for the Conservatives to pledge an extra 10,000 mental health staff by 2020 – it’s surely just minor carelessness that they’ve managed to lose 4,800 mental health staff on their current watch so far…. Read more