It’s interminable. It’s tedious. Get used to it

| Mar 22, 2019 at 12:00 AM

* The EU agreed to an automatic two-week extension to the UK-EU divorce. Do not be fooled by deadlines. This is an interminably tedious process because it is interminable (and, obviously, tedious). The UK Parliament is unlikely to pass the government’s withdrawal agreement, which suggests a lengthy delay (and participation in the European elections, with […]

A tax by any other name…

| Mar 22, 2019 at 12:00 AM

* In 1945 UK government debt was about 250% of GDP. In 1970 UK government debt was about 50% of GDP. The UK did not inflate its way out of debt. Bond investors can punish a borrower faster than inflation can cut debt ratios. The UK did not really grow its way out of debt. […]