Location: UK
Stepping back
Lots of comments about how exchange rates and equity-price movements show that the UK is (a) doomed or (b) well-placed post-Brexit. Movements and values over a few days tell us nothing except the climate of hope or fear in those few days…
The biter bit
In this week's MoneyWeek (best economic journal out there at the moment), an article by Simon Wilson on the risk of a "City exodus", prompted by Darling's special bankers' bonus levy, included the following sentence: -"The confusion over…
Typical Scousers?
I love Liverpool. But sometimes you wonder if they go out of their way to maintain outsiders' perceptions... From DEFRA's Waste Strategy Annual Progress Report 2008/9. That's three incidents per Scouser. As usual, the problem has been…
Schumpeter wins, we lose
I've been angry for years about the level of economic ignorance amongst politicians, civil servants, journalists, financial professionals, intellectuals, the public, and, above all, the mainstream economics profession. Though every…
The limits of the laws
There is something rotten in the rugby world, and it's not Dean Richards. The sanctimonious twaddle being spoken on the subject of Harlequins' "bloodgate" by commentators and former professionals is nauseating. Rugby, they would have you…
Poor consumers
Speaking of the IEA (see previous post), Richard Wellings, their excellent Deputy Editorial Director, has posted a piece on their blog, on the recent slew of climate-change policies and targets from the Government. It is mostly well-judged…
Merton doesn't Rule, OK
One way that politicians and civil servants have tried to drive the uptake of renewables is through the application of what became known as the Merton Rule (after one of the first councils to introduce the measure) to planning policy. The…
Judged and found wanting
This week's Spectator includes an article by Elliot Wilson about nuclear power and Barbara Judge, one of the great-and-the-good, chair of the UK Atomic Energy Authority (amongst many senior roles), and wife of Sir Paul Judge (he of The Jury…
Construction as leading economic indicator
The core business of our family company is producing aggregates (sand and gravel) for the construction industry. I focus on our energy activities, and don't have much to do with gravel, so wouldn't normally comment on it. However, what I…
Tax sovereignty
Tim Worstall covers the efforts by Dan Mitchell to persuade the American government to step back from its efforts to clamp down on tax havens. This is picked up and expanded at Sounds in the Hickory Wind (nice blog, added to the blog roll…
The prudential cost of the financial crisis
-"Borrowers have been warned they face higher mortgage rates for up to nine years as banks hit customers with the cost of tighter regulation."- So begins the lead article in the Money section of this week's Sunday Times. The problem, it…
Name our Tea Party
There is a movement developing in the States to send tea-bags to senior Democrats (including the President) and to hold local "Tea Parties", in reference to the Boston Tea Party, in objection to the massive Obama programme of bail-outs and…
Scottish pots and Swiss kettles
Gordon Brown wants us to make a mental connection in some way between our financial troubles and the competitive tax regimes in countries like Switzerland. I have just come back from Switzerland, where we are looking at investing. The…
"Do nothing" conservatives
We might have done nothing. That would have been utter ruin. Instead we met the situation with proposals to private business and to Congress of the most gigantic program of economic defense and counterattack ever evolved in the history of…
British bullshit for British voters
The latest spate of humbug surrounded the "British Jobs for British Workers" strikes. Even the application of the term "strike" was a piece of humbug. The protesters didn't work there, so how could they go on strike? This was secondary…
Hypochondria or misdiagnosis?
The new Bagehot at The Economist, recently returned from a posting to a "harsh, cold country", thinks that those of us who claim Britain is going to the dogs are hypochondriacs. I have sent the following letter in reply: Sir, In 1980, the…