Boris. Living Proof That You Can Be Rich And Stupid

I don’t know what Boris Johnson’s IQ is but his speech at the annual Margaret Thatcher Lecture suggests that he is a spectacularly stupid little man. At the core of his speech was a celebration of Margaret Thatcher’s success in transforming Britain into “a buccaneering environment where there was no shame – quite the reverse –…

Russell Brand And The Tooting Popular Front

Over the last couple of days my Facebook page has been plastered with posts and comments about Russell Brand’s interview with Jeremy Paxman, which has left me a bit perplexed because there was nothing remotely illuminating in Russell’s rant. His frustration with our dysfunctional political and economic systems is genuine and understandable but if he had…

Blame Ignorance, Arrogance And Indolence, Not Immigrants

This article by Jeremy Warner in the Telegraph is disturbing on two counts. His erroneous argument is a distraction from what’s really wrong with our economy, and it has stirred up a foul nest of malcontents (see the comments below the article) who appear to blame immigrants for everything that’s wrong with our society. Jeremy…

Savers Should Stop Bleating And Start Investing

I feel sorry for people who have money tied up in poorly-performing financial products from which they can’t escape, but I have no patience with the likes of this lot – saveoursavers.co.uk – who seem to think that they have a God-given right to an income from money that’s lying idle in a bank account.…

Who Cares If The Rich Get Richer?

This article by Tim Harford in the Financial Times tells us that the gap between rich and poor has grown significantly over the last few decades, and suggests that the trend is self-perpetuating: the bigger the gap the easier it is for the rich few to become richer and fewer. Tim reckons that the free…

Abolish Savings? Are These Economists Bonkers?

Over the last couple of years I have come to the conclusion that economics, as it is taught and practised by most academics, is a load of nonsense. This article by Canadian professor Nick Rowe, in which he argues that “saving” should be abolished, is a classic example of taking an interesting idea and strangling…

This short video from Positive Money explains why the rich get richer and the rest of us get deeper in debt. There’s a lot of stuff on their website that’s worth investigating if you’re interested in understanding how our economy got into such a mess.