We actually haven't been well governed for a generation, not just a year. But as long as the economy kept growing on a debt-fuelled binge, a mediocre civil service and political class could pape… (View Post)

Also much of the "bill" was things like pensions that would have had to have been paid anyway. It's three years' net EU contributions, or two years' gross which is basically … (View Post)

Good God. Clearly American bond markets have been anticipating Kwasi's budget by at least a year. (View Post)

The hysteria on here about the dollar exchange rate on Monday morning was a sight to behold. It was obviously a classic case of Dornbusch overshooting, though as most people on here aren't acade… (View Post)

You thought you'd be paying real interest rates of -5% while savers get screwed forever? (View Post)