The Tragedy Of Greek Government Borrowing
This is a pretty tricky time to work for a Central Bank, don’t you think? You spend years in the background, the national and international economy chugs along, and people forget you exist.
Perhaps once a month, when it is time to set interest rates, people remember faintly who you are and what you do. But [...]
Public Sector Employment: What Goes Up…
The UK, under the stewardship of New Labour has seen a massive increase in public sector employment. I can recall watching BBC documentaries in recent years where the scale of this expansion has been explained. It isn’t small.
It seems that the biggest beneficiary has been Scotland. I’m not going to go along with the conspiracy [...]
Lies, Damned Lies And Economic Statistics
This morning I spotted a story on the BBC website about jobless statistics in the United States. You might recall that unemployment in the US hit 10% a few months ago.
Well the story explains a little of the real numbers. As we must all have - at a minimum - suspected by now, governments have [...]
Obama Starts Budget Cuts With The Obvious
I have been writing about public sector debt recently in this blog and the opinions of those in the know about it’s likely impact.
The first major shot in what will probably become a global political war to reduce deficits has been fired. President Obama has announced a new budget which contains cuts to many areas. [...]