Does leaving the country cause the Prime Minister and the Chancellor to talk sense? If so, I pray that they get plenty of foreign travel in the years ahead.
House prices reflect a shortage of supply, as the National Housing Federation is keen to stress. But they also reflect ease of credit. And they also reflect a surge of property speculation.
I believe that Britain should be realist in its foreign policy. It is necessary to deal with vile regimes like Saudi Arabia. But crawling apologias like Malcolm Rifkind’s for these repressive Wahhabi zealots leave a bad taste.
Matthew D’Ancona in the Evening Standard argues that we should give the security and intelligence services whatever they ask for to thwart terrorism because, er, because they ask for it and that’s good enough for him.
Fund managers owned by financial conglomerates in Spain rush in to buy the shares of the parent company when it gets into trouble. In other words, the fund managers put the interests of their shareholders above those of their investors.
MI6 didn’t torture Binyam Mohamed but they did, allegedly, feed questions to his torturers. Sir John Sawers says MI6 will do nothing that “will lead to torture taking place”. But that does not preclude extracting information if the abuse was going to happen anyway.
It’s a common argument by neoliberals that the blame for the bust can be pinned on over-loose monetary policy by the Federal Reserve and the Bank of England. This fits in with their general worldview of “markets right, government wrong”. Yet as Adam Posen makes clear, it doesn’t fit with the facts.
The banking lobby is pushing back hard against structural reform. The Bank of England Governor needs to keep firing away over the next year if he is to see the reform he wants.
Ireland has done everything that the economic philosophy of Rupert Murdoch has dictated. Perhaps following that philosophy was what Dublin got wrong.
The historian Dominic Sandbrook argues in the Daily Mail today that history has vindicated Philip Snowden’s notorious September 1931 emergency Budget, in which the then Chancellor (pictured) cut unemployment benefits at the height of the Great Depression.
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