The Interim Report on our banking system by Sir John Vickers was released on Monday. There is no mention in all of the report that a banker is a fiduciary to his client first and foremost. Call me old fashioned, but the casino banking of “lets place our bets” (of course with other people’s money) is now […]
Jeffrey Tucker interviews Thomas E. Woods. Jr about his book, We Who Dared to Say No to War
I had a meeting two years ago with James Forsyth, the editor of The Spectator, and talked about the alternative world of Austrian Economics, how many of its economists had predicted boom and bust, etc. He was very attentive. I am glad to see this article in this week’s edition, drawn to my attention by Daniel Hannan. […]
Following the Robert Peston BBC 2 documentary “Britain’s Banks: To Big to Save?” I was invited to appear on the Jeremy Vine Show yesterday (my segment starts 1 hour and 8 minutes in). I was introduced as the fishmonger who wanted banks just to keep my cash in a safe. This was unfortunate, as I seek to […]
Lord Adonis was one of the original founders of New Labour. He helped make that political party electable. He created the modern Academy program for schools and in his last role as Secretary of State for Transport, he pioneered the establishment of High Speed Rail. Recently he made a speech in Birmingham setting out a new vision […]
The Prime Minster has justified his leading role in orchestrating a UN resolution to protect the citizens of Libya, particularly those in the east of the country, from the tyrannical oppression of their dictator, Col Gaddafi. There seems to be an underlying moral urge on the part of our Prime Minster and his Deputy to […]
It has become fashionable for our politicians to give us lists and pledges about things they will do or will not do to improve our well-being. A friend in Northern Ireland pointed me to this list, which is filled with great wisdom. I wonder if our politicians would do better to look at this, rather than […]
I am pleased to promote this monograph by James Turk, founder of GoldMoney: I am no fan of Keynesian economics. I find most Keynesian economic theories to be just plain wrong. But for the sake of truth and accuracy, I would like to correct a terrible injustice levied upon Keynes and, at the same time, also correct an […]
This paper by Alberto Alesina and Silvia Ardagna provides very good empirical research to confirm that what we expect a priori: that deficit cutting sets up a strong recovery, while deficit spending funded by tax increases does not. The abstract nicely summarises other aspects of the paper, and it is worthwhile for anyone to read who is involved […]
Most people have one principle “asset”: the house they live in. Long gone are the days when your physical house was simply your home and nothing to do with your financial assets. Indeed, as the last boom was manufactured by the low interest rate policies of most of the central banks in the Western World, […]
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