Posted by smeddum on December 19, 2008
Why Britain is a raging ‘sell’
By Associate Editor David Stevenson Dec 19, 2008
moneyweek
Dark times ahead for Britain
Help!
Britain’s running out of money. Yesterday’s government borrowing figures – the worst in at least 15 years – were truly shocking. Already the forecasts that Chancellor Alistair Darling made last month in the pre-Budget report are looking well short. Read the rest of this entry »
Posted in Financial crisis | Tagged: british cloudcuckooland, falling pound, UK interest cut | Leave a Comment »
Posted by smeddum on November 7, 2008
The unkindest cut
Cutting interest rates was a mistake. Easy money got us into this mess and it cannot possibly be what will rescue us
Edward Harrison
guardian.co.uk,
Friday November 7 2008
Yesterday, Will Hutton penned a commentary, “A rational cut for irrational times,” in which he praised the Bank of England’s 1.5% interest rate cut as “a necessary move.” But, was it? I would argue that, while monetary easing can provide stimulus on the margin, this cut was neither necessary nor prudent. Quite simply, it is the quantity of credit and not the price of credit which has created hardship. Read the rest of this entry »
Posted in Financial crisis | Tagged: UK interest cut | Leave a Comment »
In These New Times 