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 […]
There is a very real problem for Ukrainians; they are in disagreement over the best way forward for their country. Should they move closer to Europe or stay close to Russia, on whom their economy is presently dependent? Ideally it should not be an either or, since much more effort should have been put into […]
Now that the ceremonies following the death of Nelson Mandela have been completed, showing the world a refreshing combination of mourning and celebration, many will be the thoughts about his legacy and what his life will mean to future generations. There is one lesson to draw which stands above all others; reconciliation with former enemies […]
The BoE has declared that the Funding For Lending scheme will no longer be usable by banks to fund mortgages and will only be available for business lending. This is the single most important change in lending policy for three decades. The Bank has also indicated that it will set minimum deposit levels at a […]
Every day some new atrocity is reported from one or all of these countries. At the moment the worst by far is Syria. All three countries share a common profile in that they were created suddenly by drawing lines on a map and not by a natural process over time and all have different religious […]
We are witnessing one of those great moments in history when the balance in the tectonic plates of state power shifts,and thereafter everyone sees the world differently. The United States, as fashioned by Abraham Lincoln and on an upward trajectory since 1865, is now indisputably in decline. This is a good thing for the world. […]
The collapse of effective government in the United States does not mean the collapse of effective government in America. This is because most of daily life is conducted through, and supported by, the governments and institutions of individual states. The closing down of the Federal government is one thing, but the continuation of all the […]
The much maligned Ed Milliband has succeeded in achieving the biggest change in the dynamics of British politics since Margaret Thatcher. By shifting Labour to the left he has set the Tories free to move to the Right. The centre ground, where both parties stood through the Major, Blair and Brown years, following similar pro-market […]
This blog has been consistently against the notion of an economy fuelled by house price inflation and once again the Tories are taking the cheap ticket to economic recovery and introducing, three months early, their help to buy scheme. This is reckless and cynical, since nearly everybody who can add up a column of figures […]
Apologies to our readers and followers. We had a system failure and have been off line for several days, but everything is now fixed. Watch this space!