Recently, Donald Trump told the chair of the Federal Reserve that the US should be cutting interest rates like other countries. And it is true the UK and US have been slow to cut interest rates. They are now double the level in Europe and Canada. Although Rachel Reeves is unlikely to be sending notes …
This is UK National debt since 1780. It tells part of the national story. Napoleon’s defeat at Waterloo didn’t just change European history, it saved Britain from bankruptcy. The two world wars once again saw debt surge as the debt provided an emergency lifeline. How Does Government Debt Work?Watch this video on YouTube However, despite …
Between 1991 and 1998, Russian GDP fell an estimated 40%. The transition to a free market economy was plagued by hyperinflation, rising poverty, falling life expectancy and social dysfunction. Whilst the average citizen saw a marked deterioration in the quality of life, a few oligarchs became intensely rich as they bought state assets at a …
Why is there No Money Left?Watch this video on YouTube Last July, the new Chancellor Rachel Reeves, announced winter fuel payments for pensioners would be means tested. She hoped this brave and bold decision to stabilise Britain’s finances would be welcomed as a sign Labour were a serious government full of serious people. Labour Ministers …
In the past 12 months, UK house prices have once again started to rise, with house price inflation reaching 6%. Even the end of stamp duty in April, did not prevent prices rising by £3,000 in May, according to the Nationwide. It means prices have regained their previous peak of 2022. However, the rise …
Since the start of the year the dollar has fallen 9%. The global reserve currency is under pressure. (BTW: real problem in Japan was 30 and 40 year bonds) Yet at the same time, bond yields are rising creating a headache for the government and financial system. In Japan, the recent surge in bond …
The 1980s was a decade of divides. The proud industrial heartlands of the north suffering irreversible decline. The City of London enjoying an unprecedented boom. In the early 80s, Unemployment soared to the highest level since the Great Depression, manufacturing fell off a cliff. But not everyone suffered in the 80s. Financial liberalisation and tax …
People often observe my videos/articles on the UK economy tend to be doom and gloom, this is partly the youtube alogorithm, but mainly because the UK economy really hasn’t been doing very well, whether you look at average wages, productivity or housing costs, it’s pretty grim and you can’t change these facts. And there is …