Sunday , May 16 2021
Home / Economy

Economy

A crisis of profitability

The trouble with “common sense” is that it is wrong more often than it is right.  And today’s common sense – based on the experience of the 1970s – is that the massive volume of currency printed into existence in response to the pandemic is about to erupt into an …

Read More »

About those chickens…

When you see the same story repeated, almost verbatim, across the establishment media, you can be sure you are dealing with some kind of soft propaganda.  No, this is not some kind of conspiracy theory.  It is merely the observation that in the era of social media, traditional news outlets …

Read More »

Signs of things to come

What do the gig economy, European football, and thefts from cars and churches have in common?  At face value, very little; but each, in their way provides a warning sign of how our economy will attempt to respond to the growing crisis of surplus energy. For those readers not familiar with …

Read More »

A dangerous misunderstanding

The everything pin

How much money should there be in the world?  It is an interesting question; to which, at any time, there is a correct answer that is unknown to anyone.  It is the amount at which money is able to perfectly perform its two key functions – being a medium of …

Read More »

Let our woes begin…

Today is open up day for the beleaguered folk of the UK.  Non-essential shops, pub and restaurant gardens and children’s indoor activities are all open for the first time since Christmas.  And the media narrative that accompanies this new stage of the pandemic response is that the economy is poised …

Read More »

Reflecting on stupidity

The 2009 docudrama, The Age of Stupid, is set in a post-apocalyptic 2055 where narrator Pete Postlethwaite is the sole survivor of the ravages of climate change.  London is under water.  Sydney is permanently ablaze.  Las Vegas has all but disappeared beneath the desert sands.  The Alps no longer witness …

Read More »

You can never go back

I can still remember, as a toddler some 57 years ago, seeing a steam locomotive shunting coal wagons in sidings not far from where I grew up.  It wasn’t to last.  Later that year, the infamous Beeching cuts were implemented.  A couple of years later, the two-track branch line had …

Read More »

Welcome to the supply-side shock

Ordinarily, a giant container ship as long as the Empire State building is high, blocking the southern stretch of the Suez Canal, would have been the lead story on every news channel.  Around ten percent of the world’s seaborne oil goes through the Canal; some 3 to 4 million barrels …

Read More »

When one cargo cult fails…

Cargo cults have been a feature of Pacific Islander beliefs for at least as long as European and Chinese sailing vessels traded goods across the ocean.  As Peter M. Worsley wrote in a 1959 article: “Throughout Melanesia primitive men await a black Messiah who will bring them a largess of …

Read More »

Slow fuse burning

It is, perhaps, easiest to blame all of Britain’s ills on Brexit.  Failing this, the global pandemic – and our response to it – is a good candidate for blame as the economic consequences of global lockdowns and restrictions begin to emerge.  There are though, slower and deeper processes which …

Read More »