http://www.economist.com/news/finance-and-economics/21631140-interest-rates-turn-negative-some-worse-nothing?fsrc=scn/tw/te/pe/ed/worsethannothing : The Economist reporting that a German bank is to apply a negative interest rate to personal accounts with balances of more than 500,000 euros in an attempt to get people to do something productive with their spare money. I can’t see how negative interest can work when it’s applied by only one bank…

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Devo Mac: An Invitation From Lord Smith Of Kelvin

In the recent referendum on Scottish independence 63% of those eligible to vote declined the opportunity to make Scotland an independent nation (c.2 million voted against and another 0.8 million didn’t bother to turn out). On the face of it this might look like an overwhelming majority of Scots are in favour of continuing with…

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Vanity (un)Fair

In Thackery’s early 19th century satire, Vanity Fair, all of the characters are flawed in one way or another, but George Osborne is is without a doubt the most shallow, self-regarding and stupid of the lot. Fast forward a couple of hundred years to the Conservative Party Conference in Birmingham. The Chancellor of the Exchequer…