The archive is catalogued by 'Politics', 'Economics', 'Mockery', 'In other news' and 'On other things' 


"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

The backlash is not against ‘trade’ or ‘openness’

In response to an FT article by Chris Giles on 2nd October 2016, entitled “Global economic growth ‘sliding back into the morass’”

“The global economy is faltering again with growth rates “sliding back into the morass [they have] been stuck in for some time”, according to the Brookings Institution-Financial Times tracking index.

In a publication ahead of this week’s annual meetings of the International Monetary Fund and World Bank, the results will reinforce fears that many countries have become caught in a vicious circle of low growth, popular discontent and a backlash against trade and openness, resulting in more economic weakness.

The annual meetings will encourage policymakers to pursue inclusive and faster global growth as international organisations, finance ministers and central bank governors seek to reassure the public they can co-operate and that they have the necessary tools to break five years of economic disappointments” – Chris Giles

'...a backlash against trade and openness, resulting in more economic weakness'

This is sloppy language at best, misleading rubbish at worst. People are not upset by 'trade' or 'openness'. People are upset by the effects of a rigged deck, which includes amongst other things: corporatist ‘stitch-ups’ posing as 'free trade', an utterly corrupt banking system, and global monetary policy that serves a tiny minority of 'insiders'...those nearest the monetary the expense of the vast majority of people who are not. 

If you want to understand why global growth is slipping start by looking at the monetary policies of central banks. As for openness, personally I’m all in favour of it - we could start by bringing TPP and TTIP out from their basements, translating them from ‘snake’ into English, and letting people examine what they mean in terms of their daily lives. We could then move on to an audit of the Fed. Neither of these things will happen of course, at least not voluntarily, because they would almost certainly lead to some very self-important people being thrown out on their extremely well deserving backsides.

The moral outrage of the 'free press'

Larry Summers on 'The middle class and secular stagnation'