For Those Who Still Don’t Get It . . .

… THE GOVERNMENT DOESN’T NEED TO TAX OR BORROW TO PAY FOR THE NHS, OR FOR ANYTHING ELSE, EVER! (sorry for shouting but some people really haven’t been paying attention and this is very, very important). Once again, this is how it works. When the government spends, it spends new money. This new money is…

The Armchair Inflation Fallacy

“Zimbabwe.” That’s the favourite one. Sometimes backed up with “The Weimar Republic.” Galloping inflation. That’s what you get when the government prints money. Swiftly followed by economic collapse. Guaranteed. Anyone with half a brain knows that. When armchair economists are finally forced to admit that there is a magic money tree,¬†which government can use to…

Labour Needs To Tell The Truth About Tax

If the UK has another general election this year (or next) Jeremy Corbyn’s Labour Party will lose. Again. In their euphoria at outperforming everyone’s expectations in the election just past Mr Corbyn and his merry crew appear to have overlooked the fact that they polled the best part of a million votes fewer than the…

The Magic Money Tree

Last night in a debate hosted by the BBC Amber Rudd (Home Secretary of the current UK government, Conservative, desperately scrabbling to win a general election that she thought was in the bag on the day it was announced) repeatedly accused Jeremy Corbyn (current leader of the opposition, Labour, getting dangerously close to making fools…

Monumental Fiscal Stupidity

All of the main political parties in the UK agree that government debt is a bad thing. All of them would like to fund 100% of government spending from taxation alone. There are many respectable economists who will tell you that this phobia of government debt is irrational, and I’m inclined to agree with them,…