Category Archives: Economy

Why has the Bank of England just taken its part in a concerted bank bail out with more QE?

At midday today the Bank of England announced this on it website. The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to increase … Read More

Posted in Banking Reform, Banks, Economy, Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | 21 Comments

Is austerity working in Ireland or not?

During its descent into a financial crisis Ireland has found itself being a poster boy for austerity and then for some an example of why you should not impose it and now perhaps a poster boy again for some! If that … Read More

Posted in Banks, Economy, Euro zone Crisis, GDP, General Economics, Quantitative Easing and Extraordinary Monetary Measures | 13 Comments

UK GDP revision implies even bigger productivity plunge

Revised GDP figures show that the 2008-09 recession was significantly deeper than previously thought, implying an even bigger “productivity puzzle” – the apparent mismatch between severe output weakness and a relatively modest loss of employment. GDP is now estimated to … Read More

Posted in Economy, GDP, Recession | Leave a comment

The US Cavalry is only a week away whilst UK GDP growth is a poor measure of anything

Yesterday looked like it was showing a clear break in the pattern and repeating loop that I had discussed on Monday as the UK FTSE 100 dropped below 5000 and then 4900 and finally closed at 4945. However there was … Read More

Posted in Economy, Euro zone Crisis, General Economics, Quantitative Easing and Extraordinary Monetary Measures, The US Economy, UK Inflation Prospects and Issues | 17 Comments

Credit Easing in the UK might be required due to the accelerated withdrawal of the Special Liquidity Scheme

 As George Osborne has made some announcements about a possible credit easing policy in the UK I thought that I would take you in a trip on Doctor Who’s TARDIS when an oddly similar policy was announced  by the previous … Read More

Posted in Banking Reform, Banks, Economy, General Economics, Quantitative Easing and Extraordinary Monetary Measures | 16 Comments

Equity markets are trapped in a repeating loop whilst Greece needs reform and a government which tells the truth

One of the features of equity markets recently has been that we have been in a repeating loop since the middle of August. If we look at the pattern we see that after the recent closing peak  of 5935 for … Read More

Posted in Banking Reform, Banks, Economy, Euro zone Crisis, General Economics, Greek Financial Crisis, Quantitative Easing and Extraordinary Monetary Measures | 21 Comments

QE2 proponents playing fast and loose with monetary data

FT columnists are developing a penchant for misusing UK monetary statistics. Last week, Sir Samuel Brittan claimed that “nominal money supply has been allowed to fall by 10% since September 2010”. No conventionally-defined aggregate has displayed such weakness. The Bank … Read More

Posted in Economy, Quantitative Easing and Extraordinary Monetary Measures | Leave a comment

A monetarist case against more UK QE

Conventional “quantitative easing” – such as Bank of England gilt purchases financed by creating bank reserves – works by boosting the (broad) money supply, with increased liquidity serving to stimulate spending on assets and goods / services, thereby lifting wealth, … Read More

Posted in Economy, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | 5 Comments

Did German reunification mean that the original concept of the Euro was doomed to failure?

After discussing Greece yesterday I wish today to take a look at the other side of the Euro zone coin which is the Federal Republic of Germany. In any currency union the strongest parts of it always pull in the … Read More

Posted in Economy, Euro zone Crisis, General Economics, Greek Financial Crisis | 26 Comments

A plan for reforming the UK economy, start with the banks right now!

At this moment in time the world economy is facing severe difficulties as we see problems in places such as Greece, Ireland and Portugal which have now spread to Italy and Spain as well. Indeed the last weekend has shown … Read More

Posted in Banking Reform, Banks, Economy, General Economics, Quantitative Easing and Extraordinary Monetary Measures, UK Inflation Prospects and Issues | 22 Comments
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