Thatcher’s economics has generated ‘poverty in the midst of plenty’

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By Prue Plumridge Lord Wolfson, chief of the Next retail chain said recently that the national living wage could drive up inflation as the retailer would have to raise prices to offset the cost of the new minimum wage of … Continue reading

Telegraph Tosh on Economics

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Steven Hail’s point by point response to the Daily Telegraph Article by Jeremy Warner  which suggested the Jeremy Corbyn’s economic plans will turn us into Zimbabwe. “Did you see that awful newspaper tosh – I think it was in The … Continue reading

Economics in crisis – it needs a ‘Reformation’

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With great insight, Chris Waller draws the parallels between the state of the Church in the 16th century and the state of contemporary economics (1): Economics needs its Reformation, not only a new theoretical basis, if one can be found, … Continue reading

George Osborne says we’re running out of money ..

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First a quiz: Q1.  The UK economy is just like a household and the government has to finance spending out of its income or through borrowing.  True or False? Q2.  The role of taxes is to provide finance for government … Continue reading

The fundamental deceit of ‘There’s No Money Left’

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There’s No Money Left?  by alittleecon http://alittleecon.wordpress.com/2012/09/24/the-british/ First posted 24.09.12 “The British Government has run out of money because all the money was spent in the good years,” George Osborne, Feb 2012 “…in the years of plenty they put nothing aside. They … Continue reading

Why does the Structural Deficit remind me of LIBOR?

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(I know this might sound rather boring but the facts are actually a bit incredible…) The London Interbank Offered Rate (LIBOR) is a benchmark interest rate used broadly all over the world and affects trillions of dollars of loans worldwide – mortgage … Continue reading

Simon says: QE is the biggest confidence trick of all time.

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Simon (Jenkins) says ‘QE is the biggest confidence trick of all time’: ‘It is a cheat, a scam, a fiddle, a bankers’ ramp, a revenge of big money against an ungrateful world. It is called quantitative easing, and nobody has … Continue reading