This morning I joined the Guardian’s panel of Martin Kettle, Len McCluskey and Matthew Oakley to give our verdict on today’s GDP numbers: Ann Pettifor: “The Chancellor must eat humble pie” The statisticians, clutching at straws, blamed the victims – the British people – for the measly 0.2% growth in GDP. It turns out we are too fond of holidaying […]
Aviva has brought together a collection of prominent thinkers to provoke renewed debate and fresh ideas about future prosperity and creating a culture of sustainable savings. The group, names the ‘Future Prosperity Panel‘, published their report ‘Big picture thinking – Towards sustainable savings’. My article is called ‘Savings and the alchemy of credit’ and is published
Savings and the alchemy of credit – my article for Aviva Read More »
The austerity brigade is rattled. Young Daniel Knowles over at the Daily Telegraph is so worried, he has had to rise to the defence of the Treasury and Office for Budget Responsibility – and then resorts to proposing Greece’s economic strategy for the UK. Why? Because orthodox economic ideology has been challenged by none other than Daniel’s
Knowles needs to listen more carefully to ‘hero’ Clinton on deficit reduction Read More »
Some of our friends were irked by my observation this week that Paul Krugman is: “an extremely controversial figure for Keynes scholars. He champions a mainstream interpretation of Keynes’s work known as the neo-classical synthesis” Many rightly applaud him for using his platform at the New York Times to defend further fiscal stimulus in the
The olive grove harvest. Image source: www.oxfam.org As a follow-up to yesterday’s post on Greece: the Greeks are doing the one thing that hurts bankers most – they’re turning down invitations to their party. In my book, ‘The coming first world debt crisis‘ I tried to spell out what actions individuals could take to defend
Unemployment poster ‘jobless men keep going, we can’t take care of our own’, 1931. We write to encourage you – to urge you on in your resistance. In your defiance, you understand Greece is slave to the interests of private wealth. You must understand too that it is private wealth that needs Greece. Greece does
An open letter to the people of Greece: restore the Drachma Read More »
Irish Finance Minister Noonan and Luxembourg Treasury Minister Frieden attend an EU finance ministers meeting in Brussels. Image source: www.reuters.com I find it hard to write about the crisis in Greece….because the tragedy unfolding there is so reminiscent of the tragedies that unfolded in Africa, Latin America and South East Asia in the 80s and
Bankers: draining funds from taxpayers courtesy of finance ministers Read More »
(Photo: REUTERS / Yiorgos Karahalis ) A Greek riot policeman stands in front of graffiti written on the wall of a bank during violent demonstrations over austerity measures in Athens, May 5, 2010. Greece faced a day of violent protests and a nationwide strike by civil servants outraged by the announcement of draconian austeristy measures.
Austerity: OECD economists show clear signs of ‘cold feet’ for austerity Read More »
Much of the news of the last few weeks – the financialised commodities mania; the disgraceful abuse by the banks of payment protection insurance; the mortgage fraud which led US banks to rush through foreclosures without proper process and evict people from their homes;and their decision reported in the WSJ to offer a miserly $5 billion to
Tin produced at a Glencore plant in Vinto, Bolivia “Experience shows that when policies falter in managing capital flows, there is no limit to the damage that international finance can inflict on an economy.” Yilmaz Akyüz, “Capital Flows to Developing Countries in a Historical Perspective: Will the current Boom End with a Bust?” Today, as
Coming soon: another global financial crash? Capital mobility and the commodity mania Read More »
