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Keynes, Carney and the corruption of capitalism

We’ve come a long way since the Bank of England’s Andy Haldane pointed out that they had “intentionally blown the biggest government bond bubble in history” and that it constituted the biggest risk to financial stability. Yesterday, in his Sky News interview, the Bank’s Governor Mark Carney said that the housing market was the biggest risk to financial stability. Selected headlines from the recent press continue the story: U.K. House Prices Rise to Record High in April – “U.K. house prices hit […]

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Good and bad economic news

Today, we learn, Europe’s leaders are poised this morning to cut the European Union’s budget for the first time in its 56 year history following a major victory for David Cameron. Great news and congratulations to the Prime Minister and the negotiating team. Let’s hope MEPs don’t block it. On the other hand, In his first public appearance in the UK, Mark Carney, the current Governor of the Bank of Canada, said Britain might benefit from a commitment to keep […]

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