Progressive Economy Forum Coordinator, prof emeritus SOAS, Univ London, author of Economics of the 1% (Anthem) & The Debt Delusion (Polity November 2019)
Deficit of this size won't coincide with high interest rates because the deficit is supporting collapsed demand & counteracting mass unemployment. Inflation won't surge while these deficits are necessary. People need to remember interest rate is set in response to inflation.
The problem with reports like the OBR's is this insistence that "borrowing costs are low now but careful because that could change!". I mean, the Bank of England sets government borrowing costs wherever it likes.
Face masks/coverings to be compulsory in England's shops. At the height of the pandemic, there was no need for masks but now it is. Govt just ticking a box.
Face mask prices have rocketed overnight as some suppliers are profiteering.
bbc.co.uk/news/uk-politics-5…
“The Energy Charter Treaty, with 53 signatories, allows energy companies to sue states that make their business unprofitable.”
The Obscure Treaty That Could Kill a Global Green Recovery newrepublic.com/article/1583…
Wuhan, China, successfully locked down, reopened. With new infections, locked down again, tested all 11 million residents in 2 weeks. Since May, not a single new case. What can be done vs what US does.
bit.ly/3et3epY
it's obscene that the people who've done more than anyone to create this sort of political climate are the ones now wailing loudest about 'cancel culture' x.com/breadandposes/status/1…
IFS unreliable on its claimed expertise as I showed in Opendemocracy several months ago. It consistently repeats balanced budget dogmas .@geofftily@PEF_online
I'd like to discuss how we might break the @TheIFS stranglehold on public debate. I think it seriously dangerous, and do not want to be complicit. While I do make efforts to refute their wrong macroeconomics & bad advice, I haven't made enough effort to counter their dominance.
The cry of "I am being silenced!", from yet another national newspaper column, for holding views which most of the British press loudly champions, is becoming deafening.
Day two trying to come to terms with who said this:
"Almost any interesting economic problem has the following characteristic: what is true for the individual is the opposite of what is true for everybody together"
cc @angusarmstrong8