When is the Truth a Big Lie?

George Osborne regards himself as a “builder”. He repeatedly declared his self-appointed status in his recent Autumn Statement to the House of Commons. Is he to be believed? Take the case of the burden of taxation. In telling Britain to “live within its means”, he amended taxes to increase the burden on low income earners. […]

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Tesco and the Art of Buck Passing

One of the culprits of the last property boom/bust was the Tesco supermarket chain. So far, it has escaped Scot free from public censure for its role in the financial disaster that continues to blight the UK and global economy to this day. For years, Tesco systematically cornered the prime locations in localities where it […]

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The New Aristocracy and the Poor

Hypocrisy comes by the shovel–full in the adversarial politics that passes for “democracy”. The latest dose came when Britain’s House of Lords had the cheek to intervene in David Cameron’s plan to dismantle the Welfare State in favour of a free-for-all labour market. Mr Cameron claims to be a One-Nation Conservative who wishes to raise […]

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WW3 & Land speculation in China

There is increasing talk about what would trigger the next world war, a risk that was on my mind during my visit to China. I spell the risks out in this video. The Financial Times reported on October 9 that the US Government has taken the decision to sail its Navy within the 12-mile limit […]

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Am I a Liar?

Anyone who claims to know how the economy works, with a high degree of confidence, is lying. So says Lord Turner, who now serves on the $50m think-tank funded by billionaire hedge fund operator George Soros. So am I a liar? That is the implication of the pronouncement by Adair Turner at a meeting in […]

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The Moral Hazard of Farming

The protests by farmers about the prices they receive for milk are symptomatic of the unrealistic expectations which are held by farmers in general. They have become dependent on subsidies to such an extent that many of them have ceased to prepare budgets or ensure a profitable market for their produce. The number of dairy […]

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The Cannibalistic Way to Make Money

The foundations for a new kind of economy are being laid, but the “new normal” bears little resemblance to what is being discussed by the “authorised” opinion makers. Debate still rotates around the theories that were tested to destruction in the run-up to the 2008 débâcle. The black hole in public knowledge will lead to […]

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EU’s biggest Ponzi scheme

The Greek tragedy should be studied for what it tells us about the way governments administer affairs in the EU countries. The policies favoured by the troika of creditors are worse than the deal offered by highway robbers. The deal offered by robbers had a pay-off of sorts: “Your money or your life”. But the […]

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