UK Trade in Goods in January – no rebalancing – it’s getting worse.
Is it possible to look at the world through rose coloured glasses with your head in the sand? If you are an economic analyst it appears you can. According to the Daily Telegraph, “January’s trade...
View ArticleAndrew Sentance promises controversy in pro.manchester speech 26th April
“Plenty of good controversial material to draw on in my speech to Pro Manchester at the end of April. It will be looking back at the lessons for monetary policy from the past four to five years and I...
View ArticlePickles, the run on the Pound and the Sterling crisis.
In 1931 the UK faced a balance of payments crisis and a run on the pound sterling which in the end led to a negation of the Gold peg and the dollar pricing of $4.86. By modern standards the deficit...
View ArticlePuzzles at the Bank of England as the economy doesn’t fit the models
Writing in today’s Daily Telegraph Roger Bootle makes the point that economics is too important to be left in the care of academics. The emphasis on mathematics and econometrics at the expense of...
View ArticleUK Manufacturing – no rebalancing, a hit and run victim regains consciousness
The manufacturing figures for March were released this week. After growth of 6.6% in January and 5.0% in February manufacturing growth was just 2.7% in March. In the month, capital goods and...
View ArticleBank of England Inflation Report – growth slows as inflation heads to 5%.
The Bank of England Inflation Report (May) was released this week. The Bank down graded the forecast for growth in the current year to 1.8% with above trend growth likely in 2012. I am now more...
View ArticleWill UK inflation (4.5%) be back to target before the Governor of the Bank of...
Mervyn King completes his second term as Governor of the Bank of England in June 2013. Will inflation be on track by then? It could be a close run thing? The inflation figures were released last week...
View ArticleRebalancing the UK economy is incoherent mishmash verging on codswallop says...
Incoherent “mish mash” verging on “codswallop” is how plans to rebalance the economy have been described by Andrew Tyrie, Chairman of the Commons Treasury Select committee according to an article in...
View ArticleProducer Prices rise by 5.7%, input prices rise by 17%, it’s another blow to...
Producer output prices increased by 5.7% in June compared to 5.4% in the prior month. This is almost three times the CPI target rate and a further blow to gapologists everywhere. Economics is often...
View ArticleThe UK is in a liquidity trap – say no to more QE on planet ZIRP
Last week, the Governor of the Bank of England said This is the most serious financial crisis we have seen since the 1930s, if not ever. Well is it? Just like the 1930s the UK is in what we call a...
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