As in many other technical subjects, the Brexit debate uses common words but with specialist meanings and this can be confusing for non-specialists. For example, most people think ‘gutter’ has to do with drainage but a printer thinks of it as the extra margin space that will stop the binding … More The Brexit Lexicon (Part 1)
The chances of leaving the EU without a deal are now very serious according to the Trade Secretary, Liam Fox, and Bank of England Governor, Mark Carney, agrees. One of the most serious alarms about this possibility was raised a while ago by sandwich makers; a ‘hard Brexit’ will cause a scarcity of ingredients for … More Bacon, Lettuce and Tomatoes
Depressing The 1930’s Great Depression hit the USA hard but the suffering was less in the UK because in 1931 the Bank of England abandoned the Gold Standard and the Fed did not until 1933 (although it was only fully abandoned by Nixon in 1971). For the economy to recover, unemployment and low wages persisted; … More Quickies-3
(Sung by Mel Brooks – as Hitler impersonator – in the 1983 film, “To Be Or Not To Be”) If “Nagging is the repetition of unpalatable truths” (Edith Summerskill) then once again we will remind Remainers that the European Union has failed in its original goals. The idealists who conceived and designed the EU wanted … More All I want is peace. Peace! Peace!
by Ian Kearns (Biteback Publishing Ltd, 2018) A book review (Part 2) Part 2: Collapse and its consequences The EU faces economic and political risks that may threaten its future. Kearns lists the former as coming from Trump’s policies, a Chinese recession, an oil crisis, a no-deal Brexit, further mistakes by the ECB and a … More Collapse: Europe After the European Union – 2
by Ian Kearns (Biteback Publishing Ltd, 2018) A book review (Part 1) Introduction The author states clearly that he is an academic but has not applied cautious academic standards in the book. This helps makes it a briefer and clearer exposition of the issues he addresses than it might otherwise have been but means fact … More Collapse: Europe After the European Union – 1
Friends Like These After two years of zero concessions by its negotiators we can justifiably say of the EU Commission, “With friends like these, who needs enemies?” We think they are driven by outrage that anyone would want to leave their blessed Project, fear of finding a successful competitor just off-shore and eagerness to dissuade … More Shorties-17
This post presents a brief summary of part of a report by Cambridge economists – mainly Remainers – entitled, ‘How the Economics Profession Got It Wrong On Brexit’. They analyse the models and assumptions used by the OBR, ONS, Treasury, Bank of England, OECD, IMF, LSE, and others to establish what went wrong and how … More Did the EU Bring Us Growth?
It is too early to dissect the agreement made by (or imposed on) May’s Cabinet at Chequers last Friday but our initial impression was that it’s another case of a UK government managing decline and this morning (Monday) Jacob Rees-Mogg gave exactly the same judgement. He’ll vote against it in Parliament, so will some other … More Cabinet Kerfuffle
ECU No, not the European Currency Unit (now the euro) but Ever Closer Union, still the main ambition of the EU bureaucrats and other supporters. The euro is under attack from Italy and if it succeeds in freeing itself then Greece, Spain and Portugal are likely to follow; the goal of Ever Closer Union cannot … More Quickies-2