Greece and the Euro/EU

Yesterdays downgrade of Greece’s credit rating by the Fitch rating agency has potentially far-reaching implications. Beyond the national implications there are also ones for the Eurozone as it is the first country in it to have a credit rating of less than investment grade A. This poses future problems for the European Central Bank but more […]

9 December 2009 by Shaun Richards

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Japan's situation update

Since my last post on Japan there have been some changes both in market levels and in policy from the Japanese government. Of course these matters are to an extent interrelated. Starting with the Japanese government there has been a fiscal stimulus announced this morning of 7200 billion Yen which translates to $80.6bln or £49.5bln. […]

8 December 2009 by Shaun Richards

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Prices Revisited and Windfall Taxes

Readers of this blog will be aware that I feel that determining what a price is has become more complicated in recent years. This is important as it means that a market based economy will operate less efficiently. It also means that determining the level of inflation will be very difficult at best. After all […]

7 December 2009 by Shaun Richards

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The Pre Budget Report and Higher Rates of Income tax

Next week sees the Pre Budget Report in the UK. This is where the current Labour government sets out its tax and spending plans for the next fiscal year which begins on 6th April 2010. It will also update its views on matters such as growth in the economy for this year and projected growth for the […]

4 December 2009 by Shaun Richards

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Competiton in the UK Retail Finance Sector

Competition is an important factor and influence in a market based economy. It is something which helps to make any market more efficient and in general more competition is usually good. However the UK finance sector is travelling in the opposite direction. The   view that “bigger is better” was an influence pre credit crunch when […]

3 December 2009 by Shaun Richards

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Money Supply Evidence in the UK

Those who follow the Bank of England and its Quantitative Easing experiment will have been interested to see the figures that have come out in the UK over the past few days for money supply and consumer borrowing. These do not appear to show that the experiment is working particularly well. Consumer Borrowing fell by […]

2 December 2009 by Shaun Richards

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Action from the Bank of Japan

I thought that I would add to my post on Friday about Japan. I hinted at the time that Japan’s democratically elected leaders were showing few signs of responding to Japan’s economic problems. They have now made a response but it has come in the way of putting pressure on the Bank of Japan to do […]

1 December 2009 by Shaun Richards

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Japan

There are some very interesting developments going on in Japan at the moment. For example the Nikkei 225 equity market index is now back to where it started the year. This is a quite different performance to say the UK FTSE 100, the American S&P index, the German Dax and so on… There is another wider […]

27 November 2009 by Shaun Richards

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UK Gross Domestic Product Revision

When the number for 3rd quarter GDP was released in the UK there was a clamour amongst economists to say that the reported number of -0.4% was incorrect. Well today we have had a revision of the number and it is now -0.3%. The Office of National Statistics may well permit itself a wry smile. […]

25 November 2009 by Shaun Richards

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Inflation Revisited

I have some additions to make to my previous posting on inflation. My argument is that before one even gets to discussing where inflation is or where it is likely to go you need a solid idea of what the price of goods and products actually is. However I believe that for many prices the development of […]

24 November 2009 by Shaun Richards

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