To hear Western leaders talk, you would think their countries were out of recession. GDP numbers are climbing, aren’t they? So why are governments getting deeper into debt, unemployment is rising and real wages declining? Think back to the 1930s: we ain’t seen nothing yet. The UK jobless rate is predicted to rise to 9% […]
Arrogance of an Ignorant Politician
Gordon Brown was the key architect of Britain’s collapse into the Depression of 2010. True, the UK was programmed into the boom/bust cycle before he became head of the Treasury. But he could have reformed the tax regime to prevent the country being sucked into the financial vortex. He failed abjectly. And now, he seeks […]
Wilful ignorance or Big Lie?
Conspiracy theories are dangerous, but, sometimes, things happen that leave you wondering…If it’s not a conspiracy to defeat people from achieving their goals in life, what is it? Where do you draw the line between wilful ignorance and the Big Lie? These reflections were triggered by a report in a British magazine called Country Life.. […]
Forecasting the Future – Again
You would think he knows what he’s talking about. Charlie Bean, after all, is Deputy Governor of the Bank of England. In fact, he doesn’t. So why has he informed the Royal Statistical Society that it was not possible to forecast recession? Answer: because he wants to exonerate the Bank and persuade us that the […]
Rewarding the Vandals of Nature
What’s life on our planet worth? In cash terms, academics are putting a price on the services provided by nature, to persuade us to stop killing the biological diversity that sustains life. Perversely, this UN initiative will accelerate the killing of life as financiers find ways to exploit nature in the money markets. Putting a […]
The Debt: a Political Fraud
Countries like Ireland and Spain are slashing public spending, to reduce sovereign debt. Britain’s coalition government, however, is providing the most transparent disclosure of the social consequences of the property boom/bust. The UK’s social system is being re-sculpted. Strip away the reassuring language, and we find that this nation is being sent back to the […]
Washington Deepens the Crisis
Governments refuse to admit that the Western model of economics is dead, and should be buried. With no room for manoeuvre, they should be preparing the blueprint for a viable future Instead, with the US leading the way, the West is boxing itself into a disaster that will terminate in horrors that no-one dare imagine. […]
Throwing Good Money after Bad
The Bank of England is spending £3.5m to rebuild its forecasting model. Having failed to alert Britain of the looming disasters, it now wants to factor in some equations about the financial markets. But it is not incorporating an equation on the land market. So don’t expect it to perform any better in the future. […]
The 1930s Lesson they Forgot
At last, the similarities between the present and the 1930s are being drawn. But the analysts fail to register the one big lesson from the Great Depression that could save the global economy. Result: expect the austerity measures of Western governments to drive nations into a collision from which there can be no recovery. One […]
When’s the Next Property Crash?
Finally, relevant analysis of what caused the Depression of 2010. And since the cause was exclusively related to the economics of the land market, which brought the last business cycle to an end, this inevitably leads to the question: Will the next cycle also be driven by a land-led boom/bust? The onset of the new […]