The Age of Stupidity

Chavs

2012-01-21T22:25:00.002Z

Some people would have you think class is entrenched within society. Working, middle and upper, various social strata's clearly defined, historically determined by a persons occupation. Recently those rigid lines have blurred dramatically as our economies morphed creating new jobs and roles for us all. Chavs: The Demonization of the Working Class, written by Owen Jones who was in my sixth

The Magic Washing Machine

2011-12-31T21:17:00.001Z

An excellent illustration of how we all take science and technology for granted and how the free market has brought the cost of such products down to practically nothing as a percentage of income here in the West.

The Crunch

2011-12-23T16:00:00.000Z

Crisis on the continent persists. Bund's not sold. Greece yet again needs more time and money. The Iberian peninsula looks decidedly shaky. Portugal's borrowing costs rise and the public go on strike, just like many other nations throughout Europe. A change of leaders in both Spain and Italy won't solve the problems, just like it hasn't solved anything in the UK. Spain moved to the right, with

Cuba Legalises Sale of Private Property

2011-11-05T21:41:00.000Z

Many Cubans have always lived under the Communist system, one of the few countries in the world to still operate under the defunct economic system. Recently I discussed how the country is slowly opening up, giving its people individual liberty. Now private property has become legalised which can only be good thing for the Cuban people. For years property, along with many other goods, have

Fast Buck Economics

2011-09-30T21:47:00.002+01:00

"We must challenge irresponsible, predatory practices wherever we find them" Ed Miliband, Labour party conference Politicians have always been opportunists. New labour was in power for over a decade and when times were good they were best of friends with business. Now stagflation has hit due to successive Government policies and its time to blame the free market, predatory business methods,

We have no Solutions Yet

2011-07-02T21:36:00.000+01:00

"Don't be fooled. Don't fall into the government's trap. Lenders and debtors will sit at the same table, having agreed to skin the people alive."Aleka Papariga, Greek Communist Party Leader The ECB and IMF have yet again decided to lend Greece more money in order to 'avoid' contagion which would lead to a tsunami of defaults across the financial world. The Greeks can't pay but who cares, I don't

The future of Outsourcing?

2011-05-28T11:06:00.000+01:00

BoE 'Inflation, Thats Our Job'

2011-05-20T21:24:00.000+01:00

"The MPC's chosen approach has been to accept a temporary period of above-target inflation, rather than seeking to hold inflation as close to the 2 per cent target as possible at all times."Charlie Bean, Member of the BoE Committee News it may be to many, but for readers here this is not news. This is how Governments work. Goalposts move. Targets change. Inflation is always present. People

Socialist Technology

2011-04-29T16:40:00.000+01:00

One of the great myths during the Cold War was the belief that Russia had more advanced technology than the West. With hindsight we saw that this was not the case. Russian people during the time didn't have personal computers, mobile phones they didn't even have fitted clothes or adequate food to eat. During the rule of state planners Russia became a complete basket case. Russia is one of the

Keynes vs Hayek Part II

2011-04-29T14:58:00.000+01:00

Central Planning pitted against free markets once more in rap format.

Rationing is taking place in the UK

2011-04-16T20:37:00.000+01:00

Do not underestimate the importance of prices in shaping our quality of life. Countries without them do not prosper. Prices are the key component which co-ordinate supply and demand in an unpredictable, ever changing world. Zero percent interest rates sound great to many, just like having a free bread policy or setting its price below the market level. As previously discussed, it can only lead to

Intervention in the Middle East and the Maghreb?

2011-03-12T20:57:00.000Z

"[The Palestinians] are beasts walking on two legs."Israeli past Prime Minister Menachem Begin "We Palestinians will take over everything, including all of Jerusalem....All the rich Jews who will get compensation will travel to America....We of the PLO will now concentrate all our efforts on splitting Israel psychologically into two camps. Within five years we will have six to seven million Arabs

Two to Tango

2011-03-06T20:08:00.000Z

"I'm not going to condemn him (Gadhafi) ... I'd be a coward to condemn someone who has been my friend."Hugo Chavez on recent events in Libya Socialism has always held an emotive appeal for people. Rational thought is never used, instead phrases such as 'Progressive', 'its the right thing to do', 'justice' and 'equality' are spoke of in order to emotionally blackmail large segments of society.

Dubner says Democracy doesn't work

2011-02-20T21:13:00.001Z

Below is a link to an interview with Stephen Dubner. If you've not heard of him he is the co-author of the Freakonomics books which I highly recommend. Skip in to around 28 minutes for his interview. http://www.channel4.com/programmes/10-oclock-live/episode-guide/series-1/episode-5 He talks about the incentives we give politicians and concludes our current set up is wrong. Problem is, he doesn't

Robin Hood Theory

2011-01-07T22:35:00.000Z

"The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom." "Louis XIV was very frank and sincere when he said: I am the State. The modern etatist is modest. He says: I am the servant of the State; but, he implies, the State is God" "A

Where is the deflation?

2010-12-14T20:17:00.001Z

"The Chinese government is expecting its economy to expand around 8% of gross domestic product in 2011, same as in recent years, but it has raised its inflation target to around 4%, indicating Beijing isn't willing to sacrifice growth even though fighting inflation is a top priority. State television reported the new numbers Tuesday, citing Zhang Ping, the head of the National Development and

IP and the Next Wave of Computers

2010-11-05T22:42:00.002Z

"Microsoft is launching legal action against Motorola over its line of Android-based smartphones, claiming the manufacturer infringes a number of its patents. The lawsuit is the latest in a series of patent infringement cases being fought in the increasingly-competitive mobile market."..."The increasingly-popular Android software is also at the heart of a legal battle between Oracle and Google,

Labour is always Scarce

2010-09-25T21:18:00.000+01:00

The fundamental premise with economics is scarcity. Society has endless desires but only scarce resources to meet those needs. Despite the industrial, telecommunications and off-shoring revolutions we have undergone, we all still would like that extra bit more. Free Markets always create more jobs then there are people to carry them out, new ones that didn't exist 20 years ago. When politicians

Why we don't need Manufacturing

2010-09-11T14:53:00.000+01:00

A common assumption among many commentators is that Western countries need a manufacturing base. We have these trade and budget deficits because we don't 'produce' anything tangible. I suppose 200 years ago the same people would have said we need an agricultural base and not this 'phoney' manufacturing industrialisation many nations embarked towards. I disagree with Peter Schiff, Americans don't

Viva La Revolution!

2010-08-30T14:19:00.001+01:00

As the majority of the Western world went into a synchronised recession, Cuba was consequently hit hard by the relative hardships inflicted on our countries. Cuba's main source of hard currency to pay for imports is tourism. A country that has been stuck in permanent depression ever since the Communists took power from Batista with a philosophy of the state mobilising economic resources has meant

Applenomics

2010-08-19T13:58:00.000+01:00

Free markets work in wonderful ways, especially when it comes to technology. Prices come down, quality goes up, its a win-win situation for consumers. History has a habit of repeating itself and it seems to be repeating once more in regards to Apple. Once more Apple are ahead of the herd releasing new products to the market such as the iPad and iPhone but once more the market is chasing them

UK Housing Market Crash, Its a Marathon not a sprint

2010-07-18T17:06:00.002+01:00

"PricewaterhouseCoopers said there was a 70pc chance that British house prices would be below peak 2007 levels in 2015 in real terms, despite a continued expected recovery in prices in cash terms – in other words any rise in property prices won't keep pace with inflation. ... Even in 2020, after five years of predicted relatively steady growth, the accountants warned there is a 50pc chance that "

Cuts, its never that easy

2010-07-03T23:00:00.006+01:00

Margaret Thatcher, Conservative party Conference, 1980 The subsequent 5 years resulted in unemployment doubling in the UK after this speech. After years of kicking the can a politician eventually got a grip making Britain competitive in the global market place once more. It wasn't easy. It wasn't pretty. It wasn't sadistic. In fact it was political suicide but Maggie held her nerve. Talks

Ed Milliband asks for a 'Living Wage'

2010-05-30T15:06:00.006+01:00

"You need a statutory minimum wage which is mandatory, but I think we need to go beyond that. We can call upon employers, local councils and others to do better than what’s legally required and pay the living wage ... And frankly, why are we doing this? Because justice and a belief in dignity at work says that people shouldn't be paid poverty pay if employers can afford to pay them a decent

Central Bank Independence to create 'Economic Stability'

2010-05-29T19:49:00.001+01:00

I've taken some interesting points from article in which Ben Bernanke states Central Banks must keep their independence in setting interest rates. "Restricting banks' ability to execute monetary policy would lead to economic instability and "boom-bust cycles."The Bank of England has been independent since 1997. Since that time we have witnessed the largest credit boom and bust since the Great