As Bill Clinton was fond of saying ‘it’s the economy
stupid’. And if you are still breathing
after the last seven years of austerity and recession there is, with the possible
exception of England’s Rugby team performance in the Six Nations, nothing
important. This blog is an attempt at a
‘digest’ – pulling together the blogs I have posted the economy over the last month.
The backdrop is well known, the Tory led coalition in
the UK have been trying to get us out of the fiscal hole left by the last
government and the global credit crisis.
After 3 years of pain and little progress we are now at the tipping
point, do we continue as we are with more fiscal austerity (spending cuts and
tax increases) off set by quantitative easing (asset purchases) or do we do
something different. The consensus is
that we should change direction the argument is over whether to turn left or
right. The Government, that I try to
support, is dithering about in the middle tinkering with all the levers at
once.
I have been concerned
with three themes all of which overlap.
Firstly I have been preoccupied with the incompetence of our government
and specifically the Chancellor, Secondly I have been concerned with policies
that penalise savers over borrowers and finally I have been trying to find a
way out that would see the Tories re-elected.
So here are the posts
I kicked off with a piece castigating the policy of QE
(like pouring more water over a drowning man) which penalises well run
businesses by preserving fag-end companies that would go under if interest
rates were set at realistic levels. It
also kills the return on savings, reducing consumer expenditure and killing
growth.
http://getwd50.blogspot.com/2013/01/were-all-zombies-now.html
I
got mad one evening and blasted off on eight things the Government could do now
to improve things. My first suggestion
was easy - remove George Osborne, which is pretty obvious, the one’s that
followed became increasingly strange as the whisky bottle was drained.
http://getwd50.blogspot.com/2013/01/free-advice.html
The
next one has more on Zombie companies – this time backed-up with some useful
statistics on the scale of the problem.
http://getwd50.blogspot.com/2013/01/and-answer-is.html
Finally I lost the plot with George Osborne completely taking a very
personal swipe at his inability to run the country’s finances and his love of
esoteric ‘middlewear’
http://getwd50.blogspot.com/2013/02/cummerbund-economics.htmlhttp://getwd50.blogspot.com/2013/02/taxing-question.html
http://getwd50.blogspot.com/2013/02/cut-him-adrift.html
http://getwd50.blogspot.com/2013/03/in-tight-spot.html
A suggestion for David Cameron on the sort of bribe he might like
offer his loyal hard working supporters.
http://getwd50.blogspot.com/2013/03/a-polite-bribe.html
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