Most people that read finance columns have heard of the “natural rate of unemployment”, and many will know that the term was introduced by Milton Friedman. But far fewer will know where he got the term. He said himself, in his Nobel Prize lecture, that “The “natural rate of unemployment” [is] a term I introduced to [...]
Quantative Easing, Austrians, Ron Paul and the Bank of England
I’ve been writing a column all day on Vince Cable’s suggestion that Royal Bank of Scotland be turned into a British Business Bank – I’m sceptical – so I’m a bit late in commenting on the unchanged policy announcements from both the Bank of England and the European Central Bank. If they’ve done nothing, what’s [...]
Isn’t it time the Bank cut interest rates to zero?
As the Queen embarked on her Diamond Jubilee tour of the nation today, another of the country’s great institutions was marking an anniversary of its own. Three years ago, the Bank of England cut interest rates to a record low 0.5pc and launched quantitative easing (QE) in a last desperate attempt to drag the economy [...]
The World Bank contest is a chance for America to show Europe how it should have handled the IMF race
David Mulford, a senior official at the US Treasury during the 1980s, fondly recalled an era when agreements between superpowers could be sealed with a wink and a nod. The 74-year old was speaking at a warm-up event for last weekend’s gathering of G20 finance ministers in Mexico City. His nostalgia was understandable. The two-day [...]
Income-seekers beat frozen bank rates
Nearly three years after base rates were frozen at a historic low of 0.5pc, despite inflation running about 10 times that level, savers and investors are waking up to this slow-motion bank robbery – and pouring money into share and bond-based funds to preserve its real value or purchasing power. Equity income and corporate bond [...]
Helping Eliminate Your Bank Card Worries Out Of Your Unsecured Debt
Trust Deed Scotland Credit rating cards is usually a wonderful boon to most people, and also have been since the introduction with the very first a person, BarclayCard, back again in 1966, which then enjoyed a credit score card monopoly in the seventies, when, in 1972, Entry was released. Currently each individual significant ( and [...]
The Bank of England’s forecast is too optimistic. What if the euro crisis escalates?
“Long and arduous”. “Patient”. The language of recovery used by the Bank of England Governor at today’s Inflation Report hardly lifted the spirits. Britain has now been out of recession since September 2009, but it doesn’t feel like it. The recovery has already been “long and arduous”. People have been “patient”. Real take-home pay has [...]
Savers lose £43bn in ‘slow motion bank robbery’ with worse to come
Savers have been stealthily robbed of £43bn of the real value of their savings since the Bank of England froze interest rates at 0.5pc nearly 32 months ago but there could be worse to come. That’s the total shrinkage of bank and building society depositors’ purchasing power caused by inflation, according to the pressure group [...]
To rob a country, own a bank Pt4
William Black: Ten steps to reform the finance sector – that the Administration and Congress won’t do. Watch Pt.5 of this story at www.youtube.com Video Rating: 4 / 5
To rob a country, own a bank Pt2
William Black: The finance sector is a huge parasite, it transfers wealth from the poor to the wealthy. Watch Pt3 of this story at www.youtube.com Video Rating: 4 / 5