Not Our Job to Prevent Recession (1): Bank of England
The Bank of England’s inflation mandate virtually guarantees recessions as higher interest rates repeatedly puncture house-price booms. What are higher
Continue readingCategory: Moral hazard
Grexit? Spout? No, better half-in, half-out!
I’m not a huge admirer of Margaret Thatcher, and still less of her Chancellor, Nigel Lawson. But, back in the
Continue readingGifts to Greece
My first thought this morning was to write about the so-called UK drought again. Maybe I’ll post something on that
Continue readingThe Grandmother Of All Stealth Taxes
As the nights were drawing in this time last year I detailed how the UK’s “bailout” of the banks is
Continue readingLucky we had Lehman’s!
So banks are to be forced not only to hold more capital but also to make “living wills” in order
Continue readingSo Long, And Thanks For All The Dosh!
We should never have let them have all the cod! It helped make Iceland one of the richest countries in
Continue readingMore on the immorality and hazard of policy based on moral hazard
They say that the 1930s Depression was a result of a crisis exacerbated by policies to maintain a strong dollar.
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