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The generation game
It can sometimes seem that the Office for Budget Responsibility (OBR) lives in a different, much better place than the rest of us. After all, if earlier OBR forecasts had been right, the economy would...
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Way off Target – settlement imbalances in the Eurozone
For understandable reasons, attention in the Eurozone has focussed on the difficulty that some governments are having with refinancing sovereign debt, and on the need to shore up vulnerable banks....
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Is Britain facing the ‘Armageddon’ reckoning?
In his conference speech today, David Cameron is expected to warn that Britain faces “an hour of reckoning”. “Sink or swim”, the Prime Minister will warn. “Do or decline”. Regular readers of our...
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A real Autumn Statement, part 1 – lemmings in denial
As things stand, Britain is going bust. This was the first message that George Osborne didn’t – couldn’t – deliver today. The second, equally-undeliverable verity was that most of Britain’s problems...
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The gift that keeps on taking – Germany and the euro
Germany has been, for many years, a huge net beneficiary of eurozone membership, but there has been a decisive turn in the cost-benefit equation. Do Germans realise that, because the single currency is...
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The economy at the cliff-edge – our new report
Regular readers will know that I’ve been working on a major report looking at the economic outlook in the context of surplus energy, globalisation and the fall-out from the thirty-year ‘credit...
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Perfect Storm report now live
As many readers will know, I’ve spent a long time researching a major report on the fundamentals of the economic outlook. This report is now available for download here. The central theme is that we...
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Waning faith and credit
Tempting though it is, one should not attach too much importance to the decision by Moodys to strip the UK of its AAA credit rating. For a start, credit rating agencies’ own credibility hasn’t...
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When states steal
If the Cypriot government’s proposal to “tax” – for which read “steal” – the funds of depositors in its banks is remarkable, the novelty lies in the blatant nature of the expropriation rather than in...
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