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24th October, 2008 The NS has published a short piece this week: “Economists simply would not accept that their model could fail“. An introductory sentence is not mine: “Who would have predicted..that prudent Gordon Brown (would) breach the EU cap on government spending?” Am writing to the NS to ask for a correction The World Tonight, Monday 14th October, 2008, 10.38pm. Listen here 
12th October, 2008.
The news that Britain’s local authorities may have lost up to a £1 billion in the collapse of Iceland’s banks beggars belief. The competence of their highly paid chief executives must surely be challenged, and powers to borrow on international capital markets curtailed.
I have had an extraordinary day today, at an event in Bristol organised by the Schumacher Society. Fritz Schumacher - of Small is Beautiful fame – died in 1977, and the Society was formed just thirty years ago, in 1978. Today’s event was hosted by Diana Schumacher and Jonathon Porritt. I was honoured to share a platform with Bill McKibben the great leader of the Green movement in the United States, and brilliant strategist behind the 350 campaign. Sunday 5th October, 2008 The decision tonight by Germany to guarantee 100% of all savings in German banks first flagged up by the BBC earlier this Sunday evening, but modified later, is a clear signal that there is panic afoot. A run on German banks must be imminent. Why? Because the only way to prevent a run on banks is to guarantee 100% of savings. The fact that Germany has done so, or hinted that she will do so, means that her government is taking urgent, unprecedented and unco-ordinated action, to prevent such a financial catastrophe occurring tomorrow morning. Others must now follow to prevent a systemic run on the global banking system. To avoid armageddon. Tuesday 30th September, 2008. Sir, Your editorial “In praise of free markets” (September 27/28) conflates regulation of trade markets with that of financial markets. This is a flawed analysis, one at the core of most economic orthodoxy – that money, like land, oil, soya beans, diamonds or gold, is a commodity, and therefore that In this big bad world of the Credit Crunch, powerful central bankers – civil servants all – have bent over backwards to help powerful and rich private bankers.
We trust Central Bank governors. They are after all, civil servants – not masters of the universe – there to serve the citizenry, not just the finance sector. And they are charged to act as ‘guardians of the nation’s finances’. So when the deputy governor of the Bank of England says in a report |
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