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Economy

A “Phoney War” of sorts

At 11.00am on 3 September 1939 Britain declared war on Nazi Germany.  Within minutes the air raid sirens started wailing.  Panicked civilians reached for the gas masks they had been issued with, and desperately sought shelter from the anticipated onslaught.  A few – mainly middle class suburbanites with gardens, who …

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Getting the economy wrong

The defining characteristic of the neoliberal global economy is that nobody is in charge.  Decades of deregulation in the years since Margaret Thatcher and Ronald Reagan came to power has resulted in a state of “depolitisisation,” in which governments have retreated from activities deemed to interfere with “the market.”  Even …

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Liebig’s law writ large

New deliveries of eggs to British supermarkets are being snapped up as quickly as the shelf stackers can get them onto the shelves.  At the same time, tons of eggs are going off in warehouses which currently hold massive stocks of food.  The unexpected reason for this situation, we learn …

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The post-viral economy

It should come as no surprise to learn that most of us are not included in the list of critical workers published by the UK government.  Hedge fund managers, permanent secretaries, members of parliament, corporate CEOs, senior local government managers and the celebrities so beloved of our mainstream media all …

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All that is solid melts into air

A fifty year old, born in 1970, would have come of age in the years after the financial “Big Bang” which cemented in place the neoliberal global economy.  Its architects – the administrations of Ronald Reagan and Margaret Thatcher – were in their second terms; having seen off the left …

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The last nail in the neoliberal coffin

Before you can fleece or slaughter sheep, you must first corral them.  Whether by accident or design, the stock market is the financial corral into which investors have been herded.  The measures used to bail out the global banking system after the 2008 crash – quantitative easing and ultra-low interest …

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A depressing end to 2019

As the old saying has it, “the media wants to tell you a story, not the story.”  And the economic story they want you to believe is that there is nothing wrong, it is just that lots of people are shopping on Amazon, lots of other people are worried about …

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Reaching that Wile E. Coyote moment

In just about all of the Roadrunner cartoons, the Wile E. Coyote character ends up running off the edge of a cliff and plummeting to earth.  Unlike real life, however, Wile E. Coyote is able to keep going until he looks down.  It is for this reason that observers down …

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Peak oil demand is now

The theory of “peak oil demand” was a techno-utopian response to the supposed debunking of the peak oil theory first set out by M. King Hubbert in the 1950s.  Hubbert’s simple observation was that oil fields tend to reach peak production roughly 40 years after they are discovered.  Since most …

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Yellowhammer: a taste of collapse

The – largely unmentioned – benefit of a no-deal Brexit is that since the neoliberal global economy is declining, Britain might as well get its collapse in early to avoid the rush.  That is, as the net energy available to the economy declines because of the remorseless rise in the …

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