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Saving – a foundation of a civilised and progressive society

When we did not reach my Treasury question yesterday — What assessment he has made of the effect of sustained low interest rates on incentives to save; and if he will make a statement. — I asked the supplementary in a topical: Steve Baker (Wycombe) (Con): There is no doubt that low interest rates have played a crucial part in the Chancellor’s long-term economic plan and brought about today’s widely welcomed news, but low rates will not be good news […]

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The madness of contemporary economists

The Bank of England is considering negative interest rates to “stimulate” the economy, together with more QE. It’s one thing to pay a bank for safe-keeping and other services, another for the central bank to manipulate the credit markets as a whole. It is explicitly a policy of expropriating savers, of which there is much to be said on another occasion. Allister Heath provides sensible comment here. What the Bank of England is trying to do is restart the money creation process […]

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Autumn Statement chart of the day: tax and spending

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The economic facts behind the Autumn Statement, in as far as they are known or forecast, are available in the Economic and Fiscal Outlook from the Office for Budget Responsibility. Table 4.7 provides forecast current receipts. Table 4.18 provides total managed expenditure. So, here’s a chart of current receipts (i.e. tax) and total managed expenditure (i.e. spending) for the next few years: The reality is that the Government intend to increase spending every year of the forecast period and to meet […]

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Must read, paywall or not: Fame & fortune: Why I bet the ranch on cattle

In today’s world it’s impossible to be a saver. You’re forced to be a speculator because cash is being undervalued by governments through quantitative easing (QE) [printing money]. I buy hard assets, such as commodities, although there are few bargains anymore. via Fame & fortune: Why I bet the ranch on cattle | The Sunday Times.

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Drowning in an ocean of debt

NB: The author is Tim Hewish, who I am glad to welcome as a contributor. — Steve We are drowning in an ocean of debt. The video above may be an American example, but it serves us well when highlighting the dire straits the British economy is in under this Labour Government. Government isn’t any different from the average person – in that it shouldn’t act in a fiscally irresponsible manner. If you or I were to go into debt, […]

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