In a country of foodbanks, poverty-traps and MP salary rises, is inequality really falling?

One of the features of the credit crunch era has been the rise and rise of the “them and us” debate as more and more evidence emerges of an elite manipulating events and institutions to their advantage. Calling it the … Read More

Posted in General Economics, Income, Psychology, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | Tagged , , , , | 29 Comments

Of Currency Wars, Monetary Policy, Emerging Markets and Ben Bernanke

Last night saw some extraordinary moves in currency markets as they responded to news from their main central bank master. The US Dollar which in the “taper” era had emerged like Superman from a phone booth returned to its Clark … Read More

Posted in Bank of England, Currency, General Economics, Quantitative Easing and Extraordinary Monetary Measures, The US Economy, UK Inflation Prospects and Issues | Tagged , , , , | 14 Comments

How will Italy escape the economic depression it is in?

Yesterday there were two pieces of news which offered a grim and disappointing view of the Italian economy. One of these came from an official body -the International Monetary Fund (IMF) – and the other from what these days is … Read More

Posted in Euro zone Crisis, GDP, General Economics, Recession | Tagged , , , | 13 Comments

A rising national debt combined with falling wages means Grecovery is still way off

Last night the Eurogroup of ministers approved a further release of funds to Greece as detailed below. The Eurogroup mandates the Eurogroup Working Group (EWG) to approve the next EFSF instalment, which amounts to EUR 3.0 bn. (EFSF is the European … Read More

Posted in Euro zone Crisis, General Economics, Greek Financial Crisis, Growth, Inflation | Tagged , , , | 13 Comments

What use is “forward guidance” in an increasingly uncertain and insecure world?

Last week saw a change in the policy of the Bank of England which came only a few days after its change of Governor. Readers of this blog will not have been surprised as last Monday I pointed out this. … Read More

Posted in Bank of England, Bank savings rates, General Economics, Gilts, Mark Carney, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues, Yield | Tagged , , , | 18 Comments

Will Mark Carney be a lucky Governor of the Bank of England?

Today is Happy Canada Day and in line with that theme let me welcome the new Canadian Governor of the Bank of England Mark Carney as he takes up the reins of his new position. He is the first non-British … Read More

Posted in GDP, General Economics, House Prices, Inflation, Quantitative Easing and Extraordinary Monetary Measures, Stagflation, UK Inflation Prospects and Issues | Tagged , , , , | 12 Comments

Time is running out for Portugal as her fiscal problems mount

This week has seen one fairly regular occurrence in Portuguese life and one so frequent now that it is difficult to keep count. The former was yesterday’s general strike which is a protest against the austerity programme which is crippling the … Read More

Posted in Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures, Recession | Tagged , , , | 12 Comments

Today’s UK economic growth (GDP) update poses more questions than it answers

Today sees the publication of the latest estimates for UK economic output for the first quarter of 2013. These are the final estimates for what is called Gross Domestic Product and no change is expected to the previous quarterly growth … Read More

Posted in GDP, General Economics, Growth, UK economy, UK Inflation Prospects and Issues | Tagged , , | 28 Comments

An Italian tale of debt,deficits and derivatives is unfolding

One of the features of modern day life is that we rarely get told the truth by official bodies and even if we get some of it we rarely get all of it! Today has opened with news in this … Read More

Posted in Debt, Euro zone Crisis, GDP, General Economics, Quantitative Easing and Extraordinary Monetary Measures | Tagged , , , | 21 Comments

What are the consequences of rising Gilt yields for the UK’s mortgage and housing markets?

The last few days have seen both turmoil and substantial losses in world bond markets. This has added to a phase where bond yields were moving higher anyway mostly driven by hopes of an economic recovery in the United States. … Read More

Posted in Banks, General Economics, Gilts, House Prices, Interest rates, Quantitative Easing and Extraordinary Monetary Measures, UK economy, UK Inflation Prospects and Issues, US Treasuries | Tagged , , , , | 15 Comments
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