Taking a lead from the Federal Reserve Bank, the Bank of England has raised interest rates for the first time in a decade. The move comes on the back of headline unemployment figures that are lower than the official definition of full-employment, together with an official inflation rate of 3 …
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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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As media outlets wheel out the political and economic luminaries who supposedly “saved the world” a decade ago, journalists are still repeating the biggest lie of all: that there was a “credit crunch.” The official story goes something like this: wicked mortgage lenders in the USA had been making loans …
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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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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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Consciousness of Sheep