Monday , June 18 2018
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German economy on the edge


Germany is the world’s fourth largest economy.  It is also the third largest exporter; and the powerhouse behind what little growth there has been in the Eurozone economy.  But according to Business Insider there are signs that the Germany is slowing to a halt… with potentially catastrophic results for the …

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Just in case you thought the banking crisis was over…


Portuguese banks are set to be the next to require massive state handouts in the latest instalment of the global financial crash that first emerged in 2007.  Although massive government borrowing by countries like the USA and the UK, that still enjoy their own currencies helped stave off a complete …

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Getting their excuses in early


The claim that Britain faces an economic crisis in the event of a Brexit vote is widely seen as an integral part of “project fear”.  However, there might be a more sinister reason for the scaremongering. Figures from the Office for National Statistics this week show that the UK economy …

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UK Housing slowdown suggests troubled times ahead

Sold Sign

For all their claims to economic competence, George Osborne and David Cameron’s economic policy since 2010 has mainly been to try to recreate the conditions that existed in 2007.  Falling for the alchemy of mainstream classical economists, they diagnosed the key problem facing Britain to be not enough debt.  Through …

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How would you prefer your collapse?


There are three possible futures for the global economy, according to Satyajit Das at the Independent.  First, there is the highly unlikely Lazarus scenario in which the global economy is risen from the dead by the economic wizardry of the central banks: “Such an outcome is unlikely. The fact that …

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UK bank reforms are no reforms at all


Recent proposals from the UK Competition and Markets Authority bolster the position of the big banks, according to Alex Hawkes at This is Money: “Big banks have to set aside substantially less capital to issue mortgages. They pay rock bottom rates for funding because they are sitting on hundreds of …

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Osborne’s competence questioned as UK economy stalls

Osborne Rating

It was all meant to be so different.  Riding high after an unexpected election victory, and free from the moderating hand of his LibDem coalition partners, George Osborne was finally free to introduce full-blown Tory economic policies. It started to unravel almost immediately, of course.  The plan to cut the …

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Is energy about to topple the shadow banking sector?

Fracking Marcellus

The shadow banking sector is made up of companies that act as intermediaries in the credit market; arranging loans that regulated banks could not or would not want to make directly.  They are the same kind of companies that acted as intermediaries arranging all of those sub-prime mortgage loans that …

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UK banking reform hits the wrong target

Bank reform

Proposals from the Competition and Markets Authority to empower customers to switch banks are an inadequate response to the wrong problem according to Christine Berry at the New Economics Foundation: “They’re calling for customers to receive more information about their accounts and alerts when they’re nearly overdrawn, as well as …

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