Archive for December 24th, 2015

Tor Raven Value: Christmas Thrillers

Thursday, December 24th, 2015

Thrillers which from the very first page will draw you in and keep you guessing to the end!

 

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Coal And Steel: The Killer Pound

Thursday, December 24th, 2015

Deep coal mining has now ended altogether in the UK not because we have stopped using coal, but because we can import it more cheaply. The steel industry is in crisis because the home industry cannot compete with cheaper imports. Manufacturing is falling as are exports because our goods are too expensive. For all of this there is a common cause. The pound.

The pound is grossly overvalued, killing not just exports but home production as well. The means to reduce its value are out of service; interest rates are already at near zero. Until this fundamental flaw in the economic model is put right there will be no economic recovery of substance based on a foundation stronger than house price inflation and shopping.

The latest figures are not promising. Trade gap is up, growth is down, tax revenue is down and government borrowing is up. Osborne has a lot to think about.