Category Archives: Economy

Global economy down but not yet out

The latest evidence suggests that the global economy is weak but has not tipped over into contraction. The monetary backdrop, meanwhile, continues to improve and inflationary pressures are easing, at least temporarily. Assuming that the eurocrisis can be contained – … Read More

Posted in Economy, Euro zone Crisis, General Economics, The US Economy | 1 Comment

Central Banks yet again ride to the rescue of private-sector banks with taxpayers money

One of the recent messages provided by this blog has been that banks in Europe are struggling for liquidity and in some cases are desperate for it. Part of the cause has been that American money market funds have decided … Read More

Posted in Banks, Economy, Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures, The US Economy | 27 Comments

Euro Zone bombast and UBS rogue traders have a human as well as a financial cost

The last 24 hours have seen several of the themes established by this blog develop and progress. If we start with Euro zone officials politician’s and their tendency to bombast and hyperbole that is rarely backed with action and sometimes … Read More

Posted in Banking Reform, Banks, Economy, Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures | 17 Comments

Why Adam Posen’s plans for “more more more” monetary stimulus make me queasy

Yesterday we received new data from the official measures of consumer inflation in the UK. The current targeted measure which is consumer price inflation rose to 4.5% on an annualised basis which is 2.5% over its target of 2% or if … Read More

Posted in Economy, Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues, Uncategorized | 6 Comments

A real debate is still required on higher income tax rates in the UK as they are to be found in unexpected places

On the 7th of September twenty economists wrote an opinion piece in the comment section of the Financial Times to suggest the following. We call on the government to drop the 50p tax at the earliest opportunity as part of a … Read More

Posted in Economy, Euro zone Crisis, General Economics | 38 Comments

Greek government one year bonds now yield over 100% as default fears continue to rise

This morning has opened with equity markets around the world falling heavily on fears of more economic contagion from the peripheral nations in the Euro zone with default fears beginning to circle Greece more and more. One rather chilling number is … Read More

Posted in Banking Reform, Economy, Euro zone Crisis, General Economics, Greek Financial Crisis | 22 Comments

Global upswing still following 1970s path

Some bearish commentators claim that the world economy has not yet recovered from the 2008-09 recession. This is patently untrue. A proxy for global industrial production, comprising output in the G7 economies and seven large emerging economies (the “E7”), stood … Read More

Posted in Economy | Leave a comment

America’s Jobs Act disappoints and look at UK Producer Prices over 6% and 16% respectively!

Yesterday we saw  two central banks behave pretty much as expected by announcing unchanged policy with the European Central Bank moving itself away from further interest-rate rises. However what was less expected was the rant at the Press Conference of … Read More

Posted in Economy, General Economics, The US Economy, UK Inflation Prospects and Issues | 18 Comments

MPC on hold

The MPC-ometer’s suggestion that there would be a majority in favour of more QE at this month’s meeting proved incorrect but the minutes are likely to reveal a further dovish shift, with Adam Posen no longer isolated. Perhaps some members … Read More

Posted in Economy, Quantitative Easing and Extraordinary Monetary Measures | 2 Comments

So why is the Bank of England not acting “as if their hair was (is) on fire”?

Today is central bank day in Europe where at midday we will hear from the Bank of England and then some time after 1:30pm we will hear from the European Central Bank (both UK time). Both central banks are facing … Read More

Posted in Economy, Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | 16 Comments
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