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Tag Archives: banks

IMF highlights serious banking risks

IMF bank weakness warning

The International Monetary Fund’s latest Global Financial Stability Report October 2017 has raised concerns about the profitability of nine “Global Systemically Important Banks” (i.e. the ones that are too big to fail).  Among the nine are two UK banks – Barclays and Standard Chartered – which the IMF lists as …

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Fracking companies in trouble as investment dries up

Crash

Despite the upbeat propaganda put out by the fracking companies and repeated by the mainstream media, UK frackers are in serious trouble. In response to a freedom of information request by independent journalist Russell Scott, the UK government has released papers that show that the industry is unable to secure …

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They promised a small state. They gave us a weak state

Corporate welfare

While the 2008 financial crash finally exposed the infantile economic theories behind neoliberalism, most of its political claims remain unchallenged.  Key among these is the belief that somehow successive neoliberal governments have been “rolling back the state.” Ripping up so-called “red tape,” cutting taxes and providing ready access to finance …

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Burning £50 notes in front of the poor

Burning £50 notes in front of the poor

The cognitive dissonance is palpable among Tory supporters today.  Having spent the last eight weeks spouting the economically illiterate mantra that there is no #magicmoneytree, they have discovered that when it comes to buying the votes of the political wing of the Old Testament there really is a magic money …

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How the Tories’ magic money tree works

Tory #magicmoneytree

As the British general election enters its final week social media users have been bombarded by Tory trolls using #magicmoneytree to imply that Labour cannot be trusted on the economy.  The irony here is that the majority of Tory MPs and almost all of their non-banking supporters are entirely ignorant …

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