Author Archives: nla630

Help us George, just not like that!

Oh George, what are you trying to do with the housing market?  The help-to-buy scheme is 100% politics and 0% economics. It will boost house prices, as if the Bank of England wasn’t doing enough, and perhaps give a “feel … Continue reading

Posted in Bailout, Bank of England, Banking, BOE, Conservatives, Economics, London, Osborne, Politics, Quantitative Easing, UK | Tagged , , , , , | Leave a comment

Thatcher’s Britain

The passing of Baroness Thatcher reminds us that the UK was in a terrible state in the 1970s and how far it had fallen from the peak of its powers hundred years before.  What made Britain the global superpower in … Continue reading

Posted in Euro Zone | Leave a comment

The last time I lent out EUR18 billion….

This whole Cyprus situation is crazy for more than the obvious reasons, it reminds me of the last time I lent out EUR18 billion. In 2007 I was a repo trader at a large “overleveraged” US bank. One of my … Continue reading

Posted in Bank runs, Banking | Tagged , , , , | Leave a comment

UK: Driving down a blind ally

The UK Budget is seriously missing the point. It will not create any growth and the already bleak forecasts will have to be downgraded again. Here’s why. The financial industry was one of the main drivers of the economy before the … Continue reading

Posted in Austerity, Conservatives, Debt, Financial crisis, Osborne, Politics, Recession, Tax Cuts, UK | Tagged , , , , | 1 Comment

US unemployment, NAIRU and the “jobless recovery” in 2003-5

Question about US unemployment rate and the “jobless recovery” that followed 2003 peak? If you draw a line of NAIRU on the unemployment chart above, the unemployment rate only just peaks above it in 2003 so why are we all … Continue reading

Posted in Unemployment, US | Tagged , , | Leave a comment

Crisis, what crisis? Ah, so when did it all kick off?

I recently came across a very useful paper which dates every significant event during the financial crisis. So if you’re ever left wondering, “When did our nice, cosy world of live-for-today,-tomorrow’s-going-to-be-just-fine collapse?” or “Where were the early signs of the … Continue reading

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QE cash, where does it end up?

A quick note on Simon Jenkins’ piece in the Guardian today on where all the Bank of England’s QE cash has gone. He says he can’t find it anywhere but if you take a quick look at the BOE’s weekly … Continue reading

Posted in Bank of England, ECB, Euro Zone, Quantitative Easing, UK | Tagged , , , , | 2 Comments