FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
Indeed. US interest on their debt now exceeds spending on the military for the first time. A reliable end of empire Klaxon.
There is also the issue that seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
This is way the Southgate era ends, not with a bang but near Quimper
Thanks. I’m here til Tuesday. Try the oysters
Last time I was in St. Malo there was a plague of ladybirds. Absolutely millions of them. With every step you were having to brush ladybirds off yourself. It was quite unpleasant.
Were it more exotic you might have had a plague of ladyboys
I was talking to my daughter, who is in Brentwood and Ongar. She has decided to vote LD as the most likely to beat the Tories, in admittedly a very safe seat. (Also she said she actually preferred them to Labour, which surprised me). She says that most of her friends are doing the same for the same reason, as that seems to be the local consensus. Surprisingly her mother, who used to be a Conservative, is also voting LD to get the Tories out.
And yet all the Tactical Voting sites say vote Labour here, which makes sense based on recent results. But academic anyway, even if the Tories are reduced to 20 seats this will be one of the 20!
Yes I am in that seat now, Labour were second last time in B and O so if she votes LD that is actually great news for Alex Burghart,
The LDs were a close third but the Labour voteshare there will be up more than the LD vote this year on current polls
LDs are strong in Brentwood but the rest of the seat is very solid Tory, isn't it? The LD candidate is a local councillor and I think fairly well known (my ex has met him through his business and thinks he is a decent guy), and has stood a few times before. So maybe a seat where LD and labour switch round, but tbh I can't see that it matters there in the slightest.
I meant also to say, that I saw more LD stakeboards in Brentwood today than I have seen for all parties combined, in all other seats I've been in for more than 5 minutes, put together. Admittedly I haven't been to any C-LD marginals.
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
The difference is that the US debt levels simply don’t affect their currency exchange rate, in the same way as would happen with any other country, thanks to the US$’s status as the world reserve currency.
But we are seeing cracks there in recent weeks, with China and Saudi agreeing to start to price oil in RMB.
Seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
Are they still taking the knee (not watching the match and letting you lot keep me up to date for the same blood pressure reasons as not watching Question time).
I don't think so.
I'm currently half-watching a documentary about otters.
Are they still taking the knee (not watching the match and letting you lot keep me up to date for the same blood pressure reasons as not watching Question time).
I don't think so.
I'm currently half-watching a documentary about otters.
About 30 minutes until the French exit poll. Both sides of the channel heading for seismic GE results, it feels.
Polls opened at 0600 GMT and will close at 1600 GMT in small towns and cities, with an 1800 GMT finish in the bigger cities, when the first exit polls for the night and seat projections for the decisive second round a week later are expected.
Participation was high, underlining how France's rumbling political crisis has energized the electorate. By 1500 GMT, turnout was nearly 60%, compared with 39.42% two years ago - the highest comparable turnout figures since the 1986 legislative vote, Ipsos France's research director Mathieu Gallard said.
France's electoral system can make it hard to estimate the precise distribution of seats in the 577-seat National Assembly, and the final outcome will not be known until the end of the second round of voting on July 7.
No idea of the possible implications for a strong RN performance of very high turnout, but it's notable how this election seems to have energised voters in a manner that our own impending change of Government hasn't. Probably because the UK result is viewed as a foregone conclusion.
Can we encourage RefUKers to cross the channel in small boats and apply for asylum?
Are they still taking the knee (not watching the match and letting you lot keep me up to date for the same blood pressure reasons as not watching Question time).
I don't think so.
I'm currently half-watching a documentary about otters.
I need to work out the numbers, but I am prepared to make a tit of myself with this: Reform vote will surprise on the upside but still only deliver a handful of seats in the process of helping Tories lose LD will sweep most of the seats being talked about Labour will lose a couple of seats over Gaza Tories below 100. Toss up Tory / LD for the opposition
Hingland losing to Slovakia will only sour an already determined mood to punish beat the Tories.
Are they still taking the knee (not watching the match and letting you lot keep me up to date for the same blood pressure reasons as not watching Question time).
I don't think so.
I'm currently half-watching a documentary about otters.
Are they still taking the knee (not watching the match and letting you lot keep me up to date for the same blood pressure reasons as not watching Question time).
I don't think so.
I'm currently half-watching a documentary about otters.
I have previously been misquoted as a critic of the England squad and Gareth Southgate. Those words were taken totally out of context. I have always been their greatest supporter.
I have previously been misquoted as a critic of the England squad and Gareth Southgate. Those words were taken totally out of context. I have always been their greatest supporter.
I have previously been misquoted as a critic of the England squad and Gareth Southgate. Those words were taken totally out of context. I have always been their greatest supporter.
I have previously been misquoted as a critic of the England squad and Gareth Southgate. Those words were taken totally out of context. I have always been their greatest supporter.
I have previously been misquoted as a critic of the England squad and Gareth Southgate. Those words were taken totally out of context. I have always been their greatest supporter.
No you are meant to say someone hacked your Twitter/WhatsApp and you lost your phone off the side of a ferry.
In an i/v with my colleague @CaronBellITV, Ed Davey confirmed he’s expanded his list of potentially winnable seats in the West Country as ‘people who were thinking of voting Labour are coming back to us because they know the Libs are the only party that can beat Conservatives’
St Ives North Cornwall North Devon South Devon Torbay Yeovil Taunton & Wellington Wells & Mendip Hills West Dorset Mid Dorset & North Poole South Cotswolds North Cotswolds
The Cotswolds aren't in the West Country. Unless your definition of West Country starts at Heathrow Airport.
That far West? Doesn’t it start at Hogarth Roundabout, or is it Hammersmith Flyover?
Poor old Hogarth.
One of the great English writers of "antiquity"
And as soon as his name is mentioned the suffix "Roundabout" springs to mind.
And a flyover made of Meccano.
Is that Meccano flyover still there? Amazed it wasn’t condemned and replaced decades ago, I used to go over it every week a quarter of a century ago, and it used to rattle and sway in the wind even then.
Yes, still there,
The roundabout did inspire this, which is quite brilliant.
Never doubted it for a second. That’s why I love Gareth Southgate and his critics can do one. Not just a nice man - a brave and capable man who NEVER GIVES UP
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
The difference is that the US debt levels simply don’t affect their currency exchange rate, in the same way as would happen with any other country, thanks to the US$’s status as the world reserve currency.
But we are seeing cracks there in recent weeks, with China and Saudi agreeing to start to price oil in RMB.
Japan shows us that humongous debt to GDP ratios are technically feasible, if you can repress banks, depositors and domestic investors, and invest the borrowed money in domestic or overseas assets that earn an income. Unlikely in countries where borrowing is for medical care overruns.
BREAKING: The far-right party has taken the lead in the French parliamentary election first round with 34.5%, followed by the left-wing party at 28.5%, and President Macron's bloc at 22.5%.
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
Yet, US public services are worse than those of most rich world countries. For them, austerity is permanent.
There’s a lot in that. People focus too much on their healthcare. The rest is crap too. Nothing ever bloody works, and just when you think their capitalism would help, it turns out then are corporatists. I was amazed when a mate of there told me what cable tv and phone cost him, compared to what you get here when Sky and Virgin compete, just to give one example.
@rcs1000 might have more accurate information, but as I understand it, food prices are now eyewatering in their supermarkets and restaurants.
There's a fairly extensive set of Youtube "American reacts to" videos about food prices in the UK (and also Europe).
BREAKING: The far-right party has taken the lead in the French parliamentary election first round with 34.5%, followed by the left-wing party at 28.5%, and President Macron's bloc at 22.5%.
Exit poll not actual count yet. If true their parliament will be as hung as a criminal in a Hogarth painting.
Far right makes big gains in election first round - exit polls
And we can now bring you the first estimates of the results in the first round of the French parliamentary elections, based on initial exit polls given by France 2.
National Rally: 34% New Popular Front: 28.1% French President Macron's centrist Ensemble alliance: 20.3% Republicans: 10.2%
In an i/v with my colleague @CaronBellITV, Ed Davey confirmed he’s expanded his list of potentially winnable seats in the West Country as ‘people who were thinking of voting Labour are coming back to us because they know the Libs are the only party that can beat Conservatives’
St Ives North Cornwall North Devon South Devon Torbay Yeovil Taunton & Wellington Wells & Mendip Hills West Dorset Mid Dorset & North Poole South Cotswolds North Cotswolds
The Cotswolds aren't in the West Country. Unless your definition of West Country starts at Heathrow Airport.
That far West? Doesn’t it start at Hogarth Roundabout, or is it Hammersmith Flyover?
Poor old Hogarth.
One of the great English writers of "antiquity"
And as soon as his name is mentioned the suffix "Roundabout" springs to mind.
And a flyover made of Meccano.
Is that Meccano flyover still there? Amazed it wasn’t condemned and replaced decades ago, I used to go over it every week a quarter of a century ago, and it used to rattle and sway in the wind even then.
Yes, still there,
The roundabout did inspire this, which is quite brilliant.
There's another one at Lodge Avenue on the A13 at Barking, and at Gallows Corner at the A12/A127 junction.
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
The difference is that the US debt levels simply don’t affect their currency exchange rate, in the same way as would happen with any other country, thanks to the US$’s status as the world reserve currency.
But we are seeing cracks there in recent weeks, with China and Saudi agreeing to start to price oil in RMB.
Seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
More an aspiration than a promise... Russia is still screwed.
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
The difference is that the US debt levels simply don’t affect their currency exchange rate, in the same way as would happen with any other country, thanks to the US$’s status as the world reserve currency.
But we are seeing cracks there in recent weeks, with China and Saudi agreeing to start to price oil in RMB.
Seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
More an aspiration than a promise... Russia is still screwed.
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
The difference is that the US debt levels simply don’t affect their currency exchange rate, in the same way as would happen with any other country, thanks to the US$’s status as the world reserve currency.
But we are seeing cracks there in recent weeks, with China and Saudi agreeing to start to price oil in RMB.
Seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
More an aspiration than a promise... Russia is still screwed.
So is the US. And Taiwan.
We’re used to Putin shills. Having a Xi one is something of a first.
We might get the crazy situation where centre right parties in France ask for their supporters to vote for the left / far left, the socialists, communists and the greens next week in various parts of France.
Could you imagine Rishi Sunak coming and say vote Jezza Corbyn and George Galloway.
FT has always had a left wing bias, and I say that as a subscriber.
What's really fascinating in the article that tweet links to is the clickable chart of GDP, GDP per head, average earnings, and productivity.
All of which stalled in 2008 in the GFC, under Labour's watch, and have flatlined ever since.
Of course, the Conservatives have had 14 years to do better, but those charts suggest that the structural problems with the economy stem from a global crisis, rather than Conservative mismanagement. It's notable that there's no Brexit blip on those charts, though there is a COVID one. Again, suggesting factors outside of a national government's control.
I'd love to see five years of Labour government where GDP, GDP per head, earnings and productivity rise. I fear, however, that something in the economic system as we know it broke in 2008, and Labour won't fix it either.
I think there’s something wrong in the productivity figures for us, and other similar nations that don’t make widgets. But undeniably there’s a growth issue nonetheless.
Noteworthy that US productivity hasn't flatlined since the GFC:
The data suggests that Europe, and I include the UK in that, has failed to recover from the 2008 GFC, while the data suggests the US has.
I'm not an economist, so I'm not sure why that's the case, I can only point to the figures and suggest it's a problem to which the Conservative party have no answers, but isn't a problem actually caused by the Conservatives.
UK & Europe: austerity. USA: Uncle Sam: spraying money about. Turns out Keynes was right.
On the contrary, in both the UK and the USA, debt to GDP ratios have gone up by 60% of GDP since the mid-2000s, so there is no evidence that the USA leveraged its way out of recessions while the UK sternly saved. It's true that the USA debt to GDP ratio has been persistently higher by around twenty percentage points, and perhaps this wedge of cheap debt ended up financing other parts of their economy, like housing (through Fannie and Freddie).
The difference is that the US debt levels simply don’t affect their currency exchange rate, in the same way as would happen with any other country, thanks to the US$’s status as the world reserve currency.
But we are seeing cracks there in recent weeks, with China and Saudi agreeing to start to price oil in RMB.
Seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
More an aspiration than a promise... Russia is still screwed.
RN will only win a handful of seats outright tonight as you need 50,% to win. Next week in the runoffs the non RN supporters will rally as it were behind the other candidate so no chance of RN majority
Comments
There is also the issue that seizing Russias dollar assets has been as catastrophic to them as Suez was to us.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
Not while I'm around he's not.
Don’t think so.
Because China, India, Brazil etc. looked on in horror and thought "Fuck Me, we could be next if we upset Uncle Sam!"
So have set about building an alternative international payment system for commodities and goods to the US dollar.
If you don't have to pay for internationally bought goods in US Dollars, you don't have to keep huge dollar reserves, which means that the US can no longer print dollars and issue vast numbers of US Treasuries without tanking the economy a la Liz Truss.
FRANCE: Exit polls circulating, due to Swiss / Belgium media having no embargo… plus a media source I have!
They show what polls found: A strong far-right 1st. Left bloc 2nd. Macron bloc distant 3rd.
Various firms finding different gaps between blocs... which is everything.
Besides, Scotland sending two teams to the tournament was plain cheating anyway.
I need to work out the numbers, but I am prepared to make a tit of myself with this:
Reform vote will surprise on the upside but still only deliver a handful of seats in the process of helping Tories lose
LD will sweep most of the seats being talked about
Labour will lose a couple of seats over Gaza
Tories below 100. Toss up Tory / LD for the opposition
Hingland losing to Slovakia will only sour an already determined mood to punish beat the Tories.
"He's left it far too late. Even I know that...."
You know nothing woman!
And that's before the penalties.
A bicycle kick in the 95th minute.
I think this is a sign.
The roundabout did inspire this, which is quite brilliant.
There's another set about food quality.
RN: 34%
Front populaire: 29%
Ensemble: 21%
This was deliberate torture.
And we can now bring you the first estimates of the results in the first round of the French parliamentary elections, based on initial exit polls given by France 2.
National Rally: 34%
New Popular Front: 28.1%
French President Macron's centrist Ensemble alliance: 20.3%
Republicans: 10.2%
They lose next week.
https://en.wikipedia.org/wiki/Opinion_polling_for_the_2024_French_legislative_election
Genius.
Like puns.
I do not want to have another one inflicted on me.
https://www.independent.co.uk/news/uk/politics/rishi-sunak-proud-election-campaign-win-b2571339.html
National Rally: 34%
Popular Front: 28.1%
Ensemble: 20.3%
Other parties: 15.2%
Having a Xi one is something of a first.
Could you imagine Rishi Sunak coming and say vote Jezza Corbyn and George Galloway.
Rishi Sunak will form a minority government...