Monetary policy is not all about pulling levers November 7, 2011 I’M A big fan of the Bank of England museum. I find the way it attempts to educate children about how monetary policy is conducted to be charming. There is an exhibit with a tube of clear plastic containing a ball. The tube is “balanced” when the ball is level with a marker for 2 [...]
Pride before a fall: Osborne looked to special interests, not the UK’s perilous state November 29, 2011 THE Autumn Statement showed that George Osborne has failed to grasp the gravity of the economic crisis facing the UK. Urgent action was needed to brace the economy for double-dip recession and the fallout from the euro crisis. Instead, the chancellor announced a big increase in government borrowing, together with a series of measures that, [...]
The great green roadblock in the path of recovery October 6, 2011 DAVID Cameron wants the coalition to be the “greenest government ever”. But it is doubtful this aim is compatible with strong growth and economic recovery. New Labour’s climate change targets were very ambitious but the coalition has now gone even further. The government has committed to targets that imply in just twenty years’ time nearly [...]
IEA: Liberalise for lower prices January 19, 2011 The price of essential goods is more important to levels of poverty than differences in income levels, a leading think tank said today. Governments’ obsession with misleading poverty targets has led to an ever increasing welfare budget that simply imbeds dependence, the Institute of Economic Affairs (IEA) said. Instead, protectionist measures like the EU’s common [...]
Fields of gold: How to harvest profits from market intervention June 27, 2011 GOLD has been in the headlines since the start of the year. With the Federal Reserve’s second round of quantitative easing (QE2) in place, gold has acted as the de-facto haven currency. Though attention has been on the seemingly inexorable rise of the yellow metal, commodities have been influenced or even manipulated by the authorities, [...]
Fields of gold: How to harvest profits from market intervention June 27, 2011 GOLD has been in the headlines since the start of the year. With the Federal Reserve’s second round of quantitative easing (QE2) in place, gold has acted as the de-facto haven currency. Though attention has been on the seemingly inexorable rise of the yellow metal, commodities have been influenced or even manipulated by the authorities, [...]
IEA statement sees oil prices drop January 18, 2011 Brent oil dropped back yesterday after the International Energy Agency (IEA) said that OPEC members were in fact quietly increasing output, despite OPEC representatives insisting the market was already amply supplied. On Monday oil almost hit $100 (£62.50) a barrel. But yesterday afternoon, following the IEA report, prices dropped to $96.80 (£60.50).
IEA statement sees oil prices drop January 18, 2011 Brent oil dropped back yesterday after the International Energy Agency (IEA) said that OPEC members were in fact quietly increasing output, despite OPEC representatives insisting the market was already amply supplied. On Monday oil almost hit $100 (£62.50) a barrel. But yesterday afternoon, following the IEA report, prices dropped to $96.80 (£60.50).
Public in dark on UK debt July 12, 2011 Fewer than one in ten people understand that the government is adding hundreds of billions of pounds to the national debt over the course of this parliament, a shocking new survey reveals today. Just nine per cent of respondents realise that the government plans to borrow roughly an extra £350bn from this financial year to [...]
Liabilities to add billions to UK debt July 10, 2011 GOVERNMENT debt will be officially listed as totalling trillions rather than billions of pounds by the Treasury this week. Future liabilities from public sector pensions and projects agreed under private finance initiatives (PFI) will be included in the UK’s debt figures, released by the department. The government has been under pressure to produce a comprehensive [...]