When economic misinformation hides economic negligence
Funding the Future
When economic misinformation hides economic negligence
A couple of Tweets from yesterday as I do not have time to elaborate these stories today. The first is glaringly obvious. As a matter of fact, i...
 The UK‘s system of national accounting permits the presentation of entirely incorrect data by the Office for National Statistics that is passed off as correct largely because there is no proper accounting discipline, let alone double entry book-keeping, implicit within it. The resulting misinformation can be readily abused by the government.
The Bank of England is continuing to engineer a recession – and Rachel Reeves is letting it do so
Funding the Future
The Bank of England is continuing to engineer a recession – and Rachel Reeves is letting it do so
As predicted, the Bank of England did not reduce interest rates yesterday. They are joining with Labour in trying to create a recession in the UK, ...
 Labour is talking the country into a downturn and the Bank of England is delivering policy to make that happen. What are they trying to do?
Starmer exposed
Funding the Future
Starmer exposed
Why does it matter that Keir Starmer has received maybe £100,000 of personal financial gifts and support during his time as prime minister? And wh...
 Starmer's exposed his inner self, and it's not appealing.
Why is modern monetary theory so important?
Funding the Future
Why is modern monetary theory so important?
Some people argue that modern monetary theory is irrelevant or that it changes nothing. They’re wrong. MMT fundamentally reframes the power relat...
 Some people argue that modern monetary theory is irrelevant or that it changes nothing. They're wrong. MMT fundamentally reframes the power relationships within our economy, moving power away from banking and the City and towards democratic government control whilst prioritising people and full employment instead. No wonder so many people don't like it: MMT challenges all the privileges they enjoy at cost to the rest of us.
The way we are is unsustainable
Funding the Future
The way we are is unsustainable
The FT is full of questions about what Rachel Reeves is doing. As it notes: Cutting public investment in the UK would damage the “foundations of...
 The FT is full of warnings for Rachel Reeves this morning, suggesting that her direction of travel is unsustainable unless recession is her goal. Will she heed the warnings?
Where is Labour going?
Funding the Future
Where is Labour going?
The overwhelming impression Labour has given during its first few weeks in office is that it has no idea about why it wanted to be in government, o...
 The overwhelming impression Labour has given during its first few weeks in office is that it has no idea about why it wanted to be in government, or what it will do with power now that it has it. After fourteen years in opposition that appears quite extraordinary, except that it reinforces the idea that the whole Starmer project to date has simply been about defeating Corbyn. But in that case, it's fair to ask, where is Labour going?
What is the obsession with gold?
Funding the Future
What is the obsession with gold?
Every time I post a video about money, people appear claiming only gold is money and that we must go back on the gold standard. Those saying so are...
 Every time I post a video about money, people appear claiming only gold is money and that we must go back on the gold standard. Those saying so are economic dinosaurs who do not understand how the modern economy works and would rather we go back to the era that delivered the Great Depression precisely because of the obsession with gold. They really do need to be ignored.
Starmer: a man way of his depth when dealing with the NHS
Funding the Future
Starmer: a man way out of his depth when dealing with the NHS
I listened to what Keir Starmer had to say about the NHS with growing bewilderment yesterday. I really wish that he had not created in me a sense t...
 Starmer's speech on the NHS yesterday offered view of a man unprepared for office who sends out incompetent messages to those who now work in the organisation he leads and who has no comprehension of the economic environment in which he must manage healthcare. It's not surprising that now the UK public is seeing Starmer in action that his popularity is falling.
Starmer’s choice: he won’t fund the NHS even though he knows people will die as a result
Funding the Future
Starmer’s choice: he won’t fund the NHS even though he knows people will die as a result
I just posted this on Twitter: That, I think, summarises what Starmer will really be saying today. He
 Starmer is out today saying the NHS must "reform or die", but since he's refusing to provide the funding required to reform, die is the only option actually on the table, which means that people will do so as well. And this from a supposedly Labour government.
As the July GDP data proves, nothing really changed that month
Funding the Future
As the July GDP data proves, nothing really changed that month
The monthly ritual of the publication of GDP data took place this morning. The Office for National Statistics summarised the situation as follow...
 The GDP data proves what we all knew. We got a new government early that month, and yet nothing changed in the economy. And that will be the message for the next five years. Labour's in office, intent on changing nothing.