Ann Pettifor

Blaming the Victims

The world is now faced by a terrifying prospect: large scale and systemic economic failure of a globalised, highly integrated economy, caused by the collapse of massive credit and asset bubbles. This credit bubble, created by the private, de-regulated or ‘liberalised’ finance sector, inflated other bubbles, notably in property, but also in dot.coms, stocks and …

Blaming the Victims Read More »

A dust-up at the BBC’s World Service

Listen to Business Daily on the BBC World Service, live on Friday 8th August, 2008, 11.40am GMT, and via their website thereafter. The World Service invited myself and Jim O’Neill, chief economist at Goldman Sachs on to the Business Daily programme today for what they hoped would be an intellectual punch-up. They were not disappointed. …

A dust-up at the BBC’s World Service Read More »

Fannie and Freddie impact will be global, systemic

Fulfilling my duties as a citizen, I am now confined to the Southwark Crown Court as a juror, so have little time to update the blog. However the effective insolvency of two US government sponsored banks or enterprises (GSEs) – Fannie Mae & Freddie Mac – will now impact not just all those US individuals, …

Fannie and Freddie impact will be global, systemic Read More »

Abandon Inflation Targeting

The Guardian, 12th July, 2008 In Ten tactics to brighten the gloom, the Guardian invited ten experts to give advice to the Chancellor and Prime Minister on how to lift the economic gloom – and to do it in just 100 words. Other contributors included Howard Davies, Robert Peston, Irwin Stelzer and Bill Emmot. Here …

Abandon Inflation Targeting Read More »

The G8 and Bankers: Lessons from the 20s and 80s

Open Democracy, 7th July, 2008. The precedent of the United States’s great depression and Japan’s post-bubble collapse should haunt today’s G8 summiteers, writes Ann Pettifor in Open Democracy. Japan hosts the G8 summit in the northern island of Hokkaido on 7-9 July 2008 at a time when its prolonged period of deflation and economic failure …

The G8 and Bankers: Lessons from the 20s and 80s Read More »

Sacrificing the economy on the cross of inflation

The Commentariat are spooking themselves themselves with ‘frightmares’ about the “spectre of inflation”. The charge is led by the BBC’s economics team with Hugh Pym warning in his News At 10 report (17th June) that inflation was “haunting the economy….” . Tonight Michael Crick of Newsnight piled on the horror by flashing images of the …

Sacrificing the economy on the cross of inflation Read More »