Explaining The Greek Debt Crisis

OK, so we all know what the Greek debt crisis is really about: Greece borrowed more money than they can pay back. So far so simple. We also know what is the necessary solution: a default on the debts. This...

Northern Rock Privatisation

George Osborne has announced that Northern Rock is to be privatised: good. That should end the talk that it should be given away to the politically favoured. Northern Rock is to be sold rather than remutualised or floated on the stock...

Southern Cross: Solved

The Southern Cross problem seems to have been solved. Solved in the only logical manner that the Southern Cross problem could have been solved. At a meeting on Wednesday, Southern Cross, its lenders and the landlords' committee reached an agreement that...

UK Consumer Economy At 30-year Low

That's the headline, that the UK consumer economy is at a 30-year low. UK consumer economy at 30-year low, says Sainsbury's chief executive That's not what was actually said nor is it what anyone really means. Mr King, who joined Sainsbury in 2004...

Inflation Won’t Cut The Budget Deficit

It's a time honoured escape for governments with large debts. Inflate them away. Unfortunately, it's not actually all that easy in the modern world. At the same time, the consultancy claimed the UK is the least well-placed of seven major developed economies...

Sex Offenders and the Human Rights Act

Sex offenders will be able to apply, under the Human Rights Act, to get off the sex offenders register. This has caused the usual amount of huffing and puffing from those who don't understand the whole point of human rights....

It’s All Obvious Or Trivial Except……

Why that as a tag? I should point out that I'm not an economist: a degree 25 years ago does not qualify me as such. But I am fascinated by the subject, call me an interested amateur perhaps. This blog...

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Congratulations To Ethiopia – Getting Richer By Going Neoliberal

Ethiopia didn't have a good economic time of it in the recent past. That leap from Haile Selassie's monarchical feudalism to Mengistu's Red Terror...