There is something wrong with this cheese.

There is something wrong in France.  We English have always had a complicated relationship with our Gallic neighbours. For long we were bitter enemies, sworn to destroy each other. Then bitter friends, sworn to destroy each other. The English have always been berated by the French for boring food, sexuality of glacial temperatures, a passionless outlook […]

The Banking crisis: You’re doing it wrong!

Its a wonderful thing, hindsight. 4 years on and the effects of the response to the 2008 banking crisis are now visible. National governments responded in two key ways to the crisis. This is what we have now learnt.  The “popular” response The US, UK, Ireland et al responded to the crisis by means of […]

Austerity Doesn’t Work. Except When It Does

In the wake of the French elections, and as Greece continues to go off the rails, there is a broad call in Europe for increased spending and for running deficits versus getting economic houses in order.

A View on the Banking Crisis

The aftermath of the financial crisis has inevitably seen a frantic debate as to its causes and the measures to be taken to prevent a recurrence. The quality of much of this debate, however, has been disappointingly low. Much political hot air has been puffed on the subject of bankers’ bonuses. There has been a […]

The Sharia Solution To Sub-Prime

There was a widely available form of consumer credit called “rent-to-own” which, though still available, has been much less common since, roughly, the 1970s. For the previous hundred years or so it had been a very common form of installment plan purchasing. Rent-to-own began with a court case in England which effectively legalized the contract, which then spread throughout the countries using […]

How To Borrow Your Way Out Of Debt

So, what was the cause of the credit crunch? Put simply, people borrowed money they couldn’t afford to repay. So now the government, which is also over-borrowed, and has escalating liabilities in the form of Social Security and Medicare, has a solution to this debt problem. The government is going to borrow more money. Now, […]