8th May, 2010.

My latest Huff Post blog

Britain’s political elites are doing deals this weekend, trying to form a government. Gingerly making their way across the shifting tectonic plates of public opinion; wary of being tripped up again by voters.

For, let’s face it, the British electorate are no fools.

As the governor of the Bank of England apparently warned last week, they are mad as hell. Austerity measures will not be tolerated, and will keep any governing party out of power for a generation .

So there is a lot to lose. Read post »

Monday, 29 September, 2008.

Is Warren Buffett right? If this bail-out had been passed by congress, would it have halted the meltdown?

I don’t believe so. Here’s why…

Read post »

The Guardian reports today that one of Tony Blair’s key allies, Phil Collins, has bravely attacked Labour’s weakened leader. Collins singles out Old Labour’s ‘faith in the ‘benign’ power of the central state’ and suggests that Ed Balls’ policies for children will set the party on a path to tragedy.

When the most ardent of ‘invisible hand’ ideologues are cheering on the bail-out of Britain’s private financial sector by the “central state” (i.e. the nationalised, albeit nominally independent, Bank of England) Collins argues that “‘the only hope for the party is to excavate its liberal treasure’.

Tell that to Sir Fred Goodwin at RBS or to Ron Sandler at Northern Rock – or indeed to their depositers – all of whom have benefitted fromabout £150 bn of taxpayer-backed largesse provided by the Old Lady of Threadneedle St.