Britain's Mortgaged Future The Private Finance Initiative now costs at least £151,000,000,000 One of the reasons the USA has been unsuccessful in its attempt to fix economic problems by cutting interest rates lately is that its 'policy classes' have failed a test of basic honesty. Policy class is an ugly word, but at least points you, reader, to the idea that America, like the UK, now has a group of people in the media, finance, politics and public life who are far less open minded and far more collective in their corporate outlook than for very many years. They count personal crisis and challenge as something to do with some mundane trouble; they never fought wars, they never faced death, they never actually understood what radical honesty means in public. So they ignore truths or focus on spin. You cannot solve a problem arising from the combination of a monetary inflation, fiscal incontinence and a loss of competitiveness, with easy interest rate cuts. All you will get i...
This is a collection of personal and largely unedited observations covering the years from 2006 to now; I assert my copyright but am fine with links and footnotes. Some posts are obviously much more researched than others, and any errors are wholly mine except where I have innocently disseminated or linked to other bloggers or commentators.