Peston calls this the “new capitalism”. This seems to be all about government overseeing big business and public policy-makers directing business. Not much “new” about this idea, Robert. It’s called corporatism. And they tried it in 1920s Italy and elsewhere. via Douglas Carswell MP. It seems that, from generation to generation, […]
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FT.com / US – Detroit reels as $14bn rescue fails
The high profile effort to agree legislation to lend $14bn to the US auto industry collapsed on Thursday night, leading the Bush administration to hold open the possibility that it would seek funds from its financial rescue plan instead. Efforts to agree a deal in the US Senate ended in […]
Read MoreFT.com / Brussels – Berlin hits out at ‘crass’ UK strategy
At the FT: Germany’s finance minister has launched a stinging attack on the “crass Keynesianism” pursued by Gordon Brown, the British prime minister, fuelling tensions on the eve of European economic crisis talks in Brussels. Peer Steinbrück accuses Mr Brown in a magazine interview of “tossing around billions” and saddling […]
Read MoreTelegraph – Government panel to keep food prices down
The new Council of Food Policy Advisors, chaired by Dame Suzi Leather, Chair of the Charity Commission, will advise on food distribution and consumption as well as pricing. Food shopping bills rose at their fastest rate since records began last year, with bread, rice, pasta and meat all going up […]
Read MoreIn Hard Times, Russia Moves In to Reclaim Private Industries — NY Times
Mr. Putin, the former president and current prime minister, has long maintained that Russia made a colossal error in the 1990s by allowing its enormous reserves of oil, gas and other natural resources to fall into private hands. He has acted uncompromisingly — most notably in the case of the […]
Read MoreBureaucracy, Communism and New Labour
Joseph Stalin in 1934, quoted here: Bureaucracy and red tape in the administrative apparatus; idle chatter about “leadership in general” instead of real and concrete leadership; the functional structure of our organizations and lack of individual responsibility; lack of personal responsibility in work, and wage equalization; the absence of a […]
Read MoreAnger as Mandelson threatens to sue HBOS merger challengers – Sunday Herald
With a hat tip to Graham: SOURCES CLOSE to Alex Salmond last night accused Lord Mandelson of trying to “stack the deck” against those challenging the merger of HBOS with Lloyds TSB after they were threatened with huge legal bills unless they dropped their case. Lawyers acting for Mandelson, the […]
Read MoreVauxhall in secret cash plea to save 5,000 jobs — Times
The Times has learnt that the vehicle manufacturer, which employs around 5,000 workers at plants in Merseyside and Luton, approached Lord Mandelson, the Business Secretary, last week along with other carmakers, to urge the Government to give guarantees offering financial comfort to its car-part suppliers and dealerships. read more | […]
Read MoreFT.com: Government action fails to halt global sell-off
Today, the FT reports: London’s FTSE 100 fell 5.6 per cent, or 281 points, to 4,699.6. The renewed fall took the benchmark index 100 under its closing low point for the year and beneath the 4,700-point mark for the first time since 2004. Germany’s Xetra Dax 30 was 5.5 per […]
Read MoreFurther pressure on food from EU regulation
The EU will be limiting the number of pesticides available to farmers. Lower yields and higher prices are expected. No impact assessment was carried out for the proposals. It’s as if the bureaucrats think regulation is free! read more | digg story
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