Faking it

SUMMARY: Thanks to the election of President Trump and to his uncompromising attitude to the establishment media, much hot air is being expended on the subject of ‘fake news’. What we should really be getting worked up about is ‘fake economics’, for this is a much more pervasive evil, as well as a much more persistent one. Continue reading

The Austrian Prescription

At the start of the year it has become wearily traditional for us pundits to offer one of two genres of prediction.

The first takes the form of a genuine—if ultimately foredoomed—attempt to lift a ragged corner of those thick shrouds of unknowability which separate today from tomorrow. The second combines such futility with a certain arch attempt to make one’s name in the event one chances upon what can afterwards be trumpeted as the inspired prediction of what the consensus presently regards as a highly unlikely event. Continue reading

Mario’s Squeezy-B

Having already touched upon the UK’s shaky fiscal position, all that really needs to be added, now that the Chancellor has actually delivered his Autumn Statement, is a quick, ‘I told you so!’

The gloomy prospect is thus one of more borrowing, more spending, stealth tax tinkering, an ill-advised switch to industrial intervention, cost-overrun concrete pouring, and even the setting up of a special credit facility for exporters in a country hardly noted for being under-populated with banks and other lending institutions! Continue reading

Ready, Neddy, GO!

In the week in which PM Theresa May appeared before the annual shindig of the UK’s most visible Big Business lobby group, the CBI, it was perhaps fortuitous that both her crew and theirs released their latest statements of account. Continue reading