As this blog has said repeatedly, you cannot have a currency without a government. The Eurozone thought you could. There are in history few more spectacular examples of wrong thinking. Retaining sovereignty while giving it up to fiscal governance by some federal structure is on one level impossible and on another inefficient. All of this […]
Yesterday I posted a warning about the nature of the economic recovery in the UK. Today it is worth looking at the issue at the heart of the failure, since the end of WWII, to establish sustained economic renewal not characterised by boom, bust and most recently, crash. It is the over valuation by markets, […]
Politically the Coalition can take justified comfort in the strong performance, relative to weakness elsewhere, of the UK economy and if this can be sustained it will place the Coalition parties in pole position for the general election next year. Unfortunately it is not a simple as that. There are other political issues and they […]
If a novelist set out to write a story about a political party cutting its own throat, the writer would be hard pressed to invent a more astonishing chain of events than that which now transfixes Westminster. The Lib Dems, having built a reputation as a sensible party with level headed, if not exciting people […]
There is something deeply troubling about the disclosure in the newly released papers from the Thatcher government era showing that the claim by the N.U.M. that there was a hit list of seventy odd pits, ridiculed at the time by officials at the very highest level, was true. Government in a democracy must be based […]
The Nationwide building society has reported that the average house price rose by 8.4% in the last year. This news is catastrophic, since it demonstrates that the economic recovery is debt led and founded on inflating assets. Not only are we back to the old idea of boom and bust, but the impact on housing […]