Together with colleagues spanning four parties – Michael Meacher (Lab), Caroline Lucas (Green), Douglas Carswell (UKIP) and David Davis (Con) – I have secured a debate on Money Creation and Society for Thursday 20 November. Here’s a quick guide to understanding the debate. First, we have a system of paper or […]
Read MoreYesterday, the US Federal Reserve decided not to reduce its money creation programme of $85 billion a month. The Cobden Centre publishes a response, No tapering, no surprise: It was not too surprising that there is going to be no tapering for some very good reasons. The commencement of tapering would […]
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An article for The Cobden Centre following my World at One appearance: The essence of what the Bank has announced is well known: they have begun using forward guidance to anchor both inflation and interest rate expectations as a cover for more active monetary policy. This will usher in a […]
Read MoreThe latest strategy note from Tullet Prebon asks, “What’s the big idea?” with the subtitle “the imperative need for a new ideology”, writing: Effective government is not simply a matter of management. Even in good times, competence is barely enough. In bad times, ideological clarity is imperative, and the lack of […]
Read MoreVia Is there no escape from the euro? Intellectual honesty requires us to admit that there are important costs to exiting the euro, such as legal problems or the disentangling of the ECB. However, these costs can be mitigated by reforms or clever handling. Some of the alleged costs are […]
Read MoreVia the TaxPayers’ Alliance, this video explains vividly that the Government is spending £22,218 every second. In this week’s MoneyWeek, Merryn Somerset Webb’s editorial is titled “Slash spending and taxes”. She refers to Dr Tim Morgan’s work which explains that the economy has for too long been dependent on private […]
Read MoreVia The Cobden Centre, Sean Corrigan reflects on the year from an economic perspective: So, here we are, drawing to the close of another year and still we struggle with the legacy of the last Boom, still we search around for macro economic Tooth-Fairy, ‘liquidity’ solutions to the problems caused […]
Read MoreVia ZeroHedge, an interview which astonishes me only in as much as this has appeared on the BBC: As I have indicated again and again and again and again, our present economic system is in profound trouble and it will not be fixed by bailouts. We need money which holds its value: […]
Read MoreVia Phases of the crisis – are we approaching the endgame? » The Cobden Centre: “Let all men know how empty and worthless is the power of kings. For there is none worthy of the name but God, whom heaven, earth and sea obey”. So spoke King Canute the Great, the […]
Read MoreVia Honesty is best policy | The Jewish Chronicle, my article on measuring the money supply: Ask economists how much money there is and you will get many answers. You know money is what you can exchange for real goods and services, but economists often include things like time deposits, which […]
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