Been away in Aviemore for a few days, during which time the Labour Party has revealed a spanking new leader.
I can exclusively reveal here that I voted for Ed........
......Balls, that is. But EM was my second choice and it was Ed Balls' second preferences that got the other Ed over the 50% line... so I think I can take some credit...
Anyway, whether Ed is "red" or not has been a theme of the chatterers for the last few days...
Well, if "red" means preferring to cut services as little as possible, and maybe taxing a little more, in the current climate, then I hope he is.
And if he is looking for intellectual justification from a heavyweight economist for such a position then he needs look no further than Paul Krugman in the NY Times. This piece is particularly elegant.
After writing that the Great Depression was ended by the spending needed to finance WW2, Krugman found himself accused of advocating war. This is his riposte. It's short, to the point, drily funny, dismissive of his opponents and extemely well written.
Memo to ED: get this guy on your speech writing team. He's seriously good.
Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts
Tuesday, 28 September 2010
Thursday, 2 April 2009
Well, did he....?
Did Gordon save the world.......
well yes!
At least the G20 summit was a success in its own terms. And the list of announcements from the summit is very impressive.
$500bn for the IMF to lend to struggling economies
$250bn to boost world trade
$250bn for a new IMF "overdraft facility" countries can draw on
$100bn that international development banks can lend to poorest countries
$6bn increase in lending for the poorest countries.
There will also be sanctions against secretive tax havens and tougher global financial regulation.
London's FTSE 100 index of leading shares ended 4.3% higher. In Paris, the Cac 40 jumped 5.4% and in Frankfurt the Dax rose 6%.
other highlights:
Bankers' pay and bonuses will be subject to stricter controls
A new Financial Stability Board will be set up to work with the IMF to ensure co-operation across borders and provide an early warning mechanism for the financial system
There will be greater regulation of hedge funds and credit ratings agencies
A common approach to cleaning up banks' toxic assets has been agreed
The world's poorest countries will receive $100bn extra aid
G20 countries are already implementing the biggest economic stimulus "the world has ever seen" - an injection of $5tn by the end of next year.
So..well done Gordon. You have proved the doubters so......wrong.
Friday morning update.... see Will Hutton, no Brown sycophant, on Commentisfree here;
http://www.guardian.co.uk/commentisfree/2009/apr/02/g20-financial-crisis2?showallcomments=true
well yes!
At least the G20 summit was a success in its own terms. And the list of announcements from the summit is very impressive.
$500bn for the IMF to lend to struggling economies
$250bn to boost world trade
$250bn for a new IMF "overdraft facility" countries can draw on
$100bn that international development banks can lend to poorest countries
$6bn increase in lending for the poorest countries.
There will also be sanctions against secretive tax havens and tougher global financial regulation.
London's FTSE 100 index of leading shares ended 4.3% higher. In Paris, the Cac 40 jumped 5.4% and in Frankfurt the Dax rose 6%.
other highlights:
Bankers' pay and bonuses will be subject to stricter controls
A new Financial Stability Board will be set up to work with the IMF to ensure co-operation across borders and provide an early warning mechanism for the financial system
There will be greater regulation of hedge funds and credit ratings agencies
A common approach to cleaning up banks' toxic assets has been agreed
The world's poorest countries will receive $100bn extra aid
G20 countries are already implementing the biggest economic stimulus "the world has ever seen" - an injection of $5tn by the end of next year.
So..well done Gordon. You have proved the doubters so......wrong.
Friday morning update.... see Will Hutton, no Brown sycophant, on Commentisfree here;
http://www.guardian.co.uk/commentisfree/2009/apr/02/g20-financial-crisis2?showallcomments=true
Wednesday, 1 April 2009
Gordon Saves The World...
"Gordon saves the world..". That's the dismissive, ironic, characterisation that knee-jerk pessimists and political opponents are putting on the G20 meeting in London.
But it has to be said that the meeting is already a triumph for Gordon Brown: the fact that all the leaders of the great countries of the world are coming to the UK capital at the behest and invitation of our Prime Minister is a remarkable testiment to Gordon's dedication, perseverence and vision.
The world economy is teetering on the edge of depression and doing nothing is not an option. Gordon Brown was the first to grasp that fact, the first to voice a coherent view of the problem and the first to suggest possible global solutions. He has spent many weeks and much diplomatic currency persuading other countries and governments that they have to act together.
Teamwork, co-operation, and a co-ordinated approach, as far as is possible from such a disparate grouping: that's the only way to divert a deeper, potentially catastrophic, depression.
Gordon is due the credit for providing the motivation and the forum for this historic gathering. It's already a personal triumph for the PM. We can only hope that the other leaders have the intelligence and vision of Gordon Brown, and that they overcome petty differences and deliver on behalf of us all.
But it has to be said that the meeting is already a triumph for Gordon Brown: the fact that all the leaders of the great countries of the world are coming to the UK capital at the behest and invitation of our Prime Minister is a remarkable testiment to Gordon's dedication, perseverence and vision.
The world economy is teetering on the edge of depression and doing nothing is not an option. Gordon Brown was the first to grasp that fact, the first to voice a coherent view of the problem and the first to suggest possible global solutions. He has spent many weeks and much diplomatic currency persuading other countries and governments that they have to act together.
Teamwork, co-operation, and a co-ordinated approach, as far as is possible from such a disparate grouping: that's the only way to divert a deeper, potentially catastrophic, depression.
Gordon is due the credit for providing the motivation and the forum for this historic gathering. It's already a personal triumph for the PM. We can only hope that the other leaders have the intelligence and vision of Gordon Brown, and that they overcome petty differences and deliver on behalf of us all.
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