After two days of trouble and strife in global stock markets, the Federal Reserve’s New York President William Dudley said in remarks to reporters that a September interest rate hike seemed “less compelling” now than in recent weeks. These two words alone calmed global financial markets, and pushed up the price of oil. So everything’s […]
Posts Tagged ‘quantitative easing’
Ending ‘life support’ for western economic model underlies China crisis
Sep 2nd, 2015 by Ann Pettifor.
Chris Leslie has got Corbynomics wrong
Aug 3rd, 2015 by Richard Murphy.I noted a report in the Independent yesterday about comments that the shadow chancellor, Chris Leslie, had made about why he called Corbynomics. These are, I presume, the policies announced by Jeremy Corbyn nearly two weeks ago. I spoke at the launch of those policies and since they were largely lifted from this blog I […]
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A slow-burning revolution is starting to overturn neo-classical economic orthodoxy
Feb 22nd, 2015 by Bryan Gould.As the world struggles to deal with threatening outbreaks of violence – most dangerously, in the Middle East and the Ukraine – another less dramatic and slower-burning revolution is getting under way. This revolution does not threaten violence – but it does promise change, and almost certainly change for the better. The revolution that is […]
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So where now for Europe?
May 28th, 2014 by Michael Meacher.The irony for the EU, which even its leaders now recognise must change course radically, is that it can’t. At least it can’t in its present structure without such dislocating changes as to be scarcely credible. The central problem has been, and remains, the single currency. As long as countries, particularly on the southern periphery, […]
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How Osborne’s ‘recovery’ evaporated in a puff of smoke within 24 hours
Jun 24th, 2013 by Michael Meacher.Twenty-four hours is a long time in politics, let alone a week. Dressed in his best City garb Osborne informed the assembled banking grandees in the Mansion House last Wednesday that: “We are moving from rescue to recovery. Britain has left intensive care”. Really? On Thursday words from Ben Bernanke, head of the US Federal […]
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Why are the banks that failed us so catastrophically still coddled?
Apr 3rd, 2013 by Michael Meacher.It is almost unbelievable that the banks which (i) cost the taxpayer £68bn in immediate bailout costs, (ii) have pushed up Britain’s national debt to its current level of £1.16 trillion, (iii) have inflated the budget deficit to service this debt to its current £120bn, and (iv) have thus given Osborne the excuse to launch […]
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Osborne goes for broke – making Britain broke
Aug 23rd, 2012 by Michael Meacher.Is there anybody left in Britain who seriously believes that Osborne’s strategy is a success and the right way to cut the deficit? Well, yes, step forward, John Redwood. But who else is there? The perversity of carrying on with the present policy is mind-blowing. Despite the savagery of the cuts already inflicted, the whole […]
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5 things the Chancellor should do now
Aug 1st, 2012 by Joe Cox.As the UK economy continues to nose dive down a deflationary spiral I thought I would help George Osborne out with some ideas on how to get the economy moving again. 1) Suspend the cuts programme at least until the global economic situation recovers Despite falling economic demand the Coalition Government is hell bent on […]
