Recent posts.

Globalised labour keeps wages down, stimulus from central banks goes into asset bubbles, and trouble builds up before inflation emits warning signals. After a decade of ultra-loose money, normalisation is an unprecedented challenge. “Loose Money”, in The 2008 crash: Recovery, June 2017.

The Treasury is no longer part-owner of Lloyds Banking Group. The profit on its rescue investment in 2008 was £0.9 billion. But the profit on the same money invested for the same period in a FTSE tracker fund would have been £25.7 billion. “UK banks”, in The 2008 crash: Recovery, May 2017.

Is Germany a currency manipulator? Germany insisted on fiscal austerity during the eurozone crisis, and recorded the world’s biggest trade surplus last year. Criticism of Germany by the US will get louder, and unlike the European Commission, the US has leverage. The euro and the pound, February 2017.

The concept of altering the human germline in embryos for clinical purposes has been debated over many years from many different perspectives, and has been viewed almost universally as a line that should not be crossed. Genetic modification, April 2015.

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