Posts under ‘Macroeconomics’

‘Secular stagnation’ is the outcome of deliberate policy — it can (still) be reversed

by Ann Pettifor.

Martin Wolf in the FT today strikes a  different direction from those secular stagnaters shepherded by Larry Summers towards the cliff-edge of endless doom. Larry Summers devised and popularised the term, “secular stagnation”. He has a lot to answer for. His misjudgements, poor advice to the Obama administration, and flawed analysis have been catastrophic for the global […]

Osborne’s own policies shrink tax revenues, yet he cuts more to compensate

by Michael Meacher.

There are now unmistakeable signs that Osborne’s so-called economic recovery is fading, despite all the right-wing think tanks and pro-Tory media to talk it up. A survey of 7,000 businesses by the British Chambers of Commerce has just found that manufacturers have suffered a sharp slowdown in export orders, and even more significantly domestic sales […]

There is a magic money tree. It’s called investment

by Michael Burke.

Supporters of austerity have long argued that there is no viable alternative because of persistent government deficits and rising debt. David Cameron put it starkly arguing that “there is no magic money tree“. However these assertions contain two important fallacies. Firstly, it is evident that, if government is increasingly indebted it must be the case […]

Tories now wide open to attack: when is Labour going to exocet them?

by Michael Meacher.

Even on their own terms the Tories are now exposed to assault on several grounds. Cameron threw down the gauntlet by asking: Who do you trust? Labour should pick it up. Large majorities in the electorate think the Tories are the party of the rich, not for them; witness the tax cuts for millionaires and […]

Productive investment has not increased, so there is no sustainable recovery

by Michael Burke.

The latest GDP data showed that the British economy is a little stronger than previously thought. The economy is now 2.6% above its previous peak in the 1st quarter of 2008 and surpassed that peak in the 3rd quarter of 2013. However, the fundamental character of the current crisis is unaltered by the revised data. The […]

The Tory party’s 15% strategy

by Phil Burton-Cartledge.

Thankfully conference speeches don’t win general elections. There is no denying that Dave’s final performance at the Tory party’s annual gathering was masterful. It oozed the prime ministerial, that much exalted but seldom-attained quality. His speech was passionate, confident, coherent. Apart from an untimely Freudian (“… these are the people we resent“), Dave acted the […]

The fantasy of Osborne’s deficit cuts

by Michael Meacher.

The gap between Osborne’s swaggering rhetoric in his conference speech and the cold reality of the Tory public borrowing figures is almost unbridgeable. The key point, though you would never guess it from Osborne’s bluster, is that public borrowing under his stewardship is now rising, not falling. The ONS Public Sector Finances report for August […]

Labour HQ censors 91-year old veteran’s reference to welfare cuts and austerity

by Jon Lansman.

Yesterday, I received an email appearing to come from Andy Burnham about what I’m sure he did describe as “one of the most moving speeches I’ve ever heard“. It deserved strong praise — that’s why we featured 91-year old Harry Leslie Smith’s demand for David Cameron to “keep his mitts off my NHS” on Left Futures last week. It received […]

The next election is a race both main parties seem anxious to lose

by Michael Meacher.

By any standards the Tories must be odds-on to lose the next election. They have not won an election with an overall majority for 22 years, and if they couldn’t win an overall majority in 2010 in the aftermath of the crash and against one of the most unpopular prime ministers in modern times, their […]

Public borrowing under Osborne now going UP

by Michael Meacher.

The whole point of the austerity programme imposed by Osborne was supposed to be to reduce the budget deficit. The latest data on the deficit however shows a dramatic and disturbing turnabout. Instead of going down, it is now rising, and there are good reasons for expecting this trend to continue. Official data shows that […]

© 2014 Left Futures | Powered by WordPress | theme originated from PrimePress by Ravi Varma