Banking is welfare for the wealthy, and there are no limits
Thursday, March 16th, 2023Are Silicon Valley Bank and Credit Suisse the start of a new banking crisis? First there was a run on Silicon Valley Bank in the
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The morning after the budget.
Thursday, March 16th, 2023The morning after is always a time for reflection. Once the heat of the day has passed what is left to muse on? This is
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A budget for tinkering as the economy sinks
Wednesday, March 15th, 2023Having listened to the budget with the main intention of talking about it on Radio 2 immediately after the Chancellor sat down, and having since
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Whatever Hunt does today will be tinkering at the edges of a budget that will offer the continuation of the UK’s economic decline
Wednesday, March 15th, 2023It is Budget Day. As a consequence I will be in Jeremy Vine’s BBC Radio 2 studio at about 13.30 today, discussing the budget as
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Do UK debt servicing costs require that the government impose austerty?
Wednesday, March 15th, 2023If UK government ministers were to be believed the cost of servicing UK government debt creates such a burden on its finances that austerity is
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Fiat currency
Wednesday, March 15th, 2023Of the latest batch of new glossary items I have posted about this morning the most important for many readers of the blog may be
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Money creation
Tuesday, March 14th, 2023I published this glossary entry on money creation on Sunday. Does it work? Are there suggestions for improvements? Comments are welcome: In a fiat currency
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Groupthink creates Bank failure and prevents banking reform
Tuesday, March 14th, 2023Groupthink is immensely powerful. As I noted yesterday: KPMG issued a clean audit report on the 31 December 2022 accounts of Silicon Valley Bank on
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Money is just double-entry bookkeeping, but you get it wrong at your peril
Monday, March 13th, 2023It seems appropriate to share this entry on money that I posted to the glossary yesterday in light of the Silicon Valley Bank failure. SVB
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