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Economy

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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German economy on the edge

Merkel

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…

EuroBank

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

CameronOsborne

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?

Poverty

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

Banks

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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