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Economy

UK economy was collapsing prior to Brexit referendum

Construction

When it comes to political legacies, David Cameron’s is already in tatters… and things about to get a lot worse.  Although most of the Remain Campaign’s warnings about the imminent appearance of Conquest, War, Famine, and Death following the June 23 vote did not materialise, the UK economy is clearly …

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The end of the market?

Market Economy

Growing inequality.  An economic elite that has captured political institutions.  The growth of a financial sector on the back of unsustainable asset bubbles.  Increasing civil unrest and controls on individual rights and freedoms.  These are all recognisable signs of the imminent decline of… market economies in 12th century Iraq, 15th …

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Brexit in context

Brexit fallout

For all of the howling and gnashing of teeth among the 48 percent of British people who lost the referendum on Britain’s membership of the EU, the rest of the world has remained largely unmoved. While the Bank of England has taken action to bolster UK markets and to prevent …

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Brexit brought forward Britain’s next banking crash

EuroBank

The drop in the value of the Pound and volatility on the stock market in the wake of the Brexit vote has brought forward the crisis in Britain’s economy.  However, Brexit is not the cause of the problems according to Roger Blitz at the Financial Times: “Even if the UK …

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Falling pound could wreck the UK economy

Pounds

The value of the Pound against other currencies fell dramatically on news of the Brexit vote.  And although the Pound has rallied a little, it is still trading at around ten percent less than it had been last Thursday. This has been presented as a universally bad thing in the …

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The USA is already in recession

US Recession

One reason why Federal Reserve Chairman Janet Yellen may have been keen to suggest that Brexit would create international chaos is that it diverts attention away from the Fed’s own failings.  Despite claiming that the US economy was strong enough to begin raising interest rates; the one attempt to do …

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UK economic failure runs much deeper than Brexit

UK M4 money supply

In the course of an increasingly farcical referendum campaign, every twitch in every economic indicator is hailed as proof positive that leaving/remaining in the EU will bring forth nothing less than the four horsemen of the apocalypse to wreak war, famine, pestilence and plague upon anyone so foolish as to …

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Slowing banking sector sheds jobs

Dead Banker

In a further sign that all is not well with the UK economy, large numbers of investment bankers are seeking work elsewhere.  Recruitment firm Morgan McKinley have seen an 8pc drop in the number of new financial services jobs on their books over the past year, with just 7,695 available, …

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Europe is turning Japanese

Turning Japanese

Trends in the European economy look a lot like Japan’s lost generation.  This is hardly surprising given that Europe has followed the same monetary policies adopted by Japan when its economy stalled in the 1990s.  Writing for the Evening Standard, Hamish McRae explains: “That is not a pro-Brexit statement. It …

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