

New Left EViews
34.8K posts

@NewLeftEViews
economist, writer • int'l & european political economy, geoeconomics, history, climate • host: @eurotrashpod & @statesmarkets • one cat in a trench coat



The Krugman, Wolf, Garicano, Garicano, constant PPP vs. current PPP, US vs. EU discussion on here and in blog posts is so good. I don't think I've thought this deeply about the choice of comparison ever before. And now having thought about it, I still don't know which to use.


Hey Japan, how did that Yen intervention work out for you? Worth the 25-30BN? Couldn't have spent that on...say oil instead?

@NewLeftEViews Has the BofE been doing QT faster than the ECB? x.com/JamesConran1/s…


@DanielaGabor Isn't ECB doing equivalent?


It is remarkable how toxic and dysfunctional budgetary politics in Britain have become when the fiscal authority courts instability by formulating its polices around where yields and sterling will go in response while the Bank sits on its hand and nobody talks about it.

@NewLeftEViews That is not a serious reaction. I like a range of your stuff but that shows a misunderstanding. You cannot blame all of this move on a lack of the BofE hoovering up every bit of debt you want to unleash.

THANK YOU. What an jarring thing to witness this week


Around a quarter of private renters in the UK spend over 40% of disposable income on rents. This is among the highest rates across the world. Meanwhile new analysis for JRF finds being a private landlord has been one of the best investment options available to individuals.

Bond vigilantes have repeatedly told @bankofengland that its aggressive QT actions were increasing Bailey premium. the Bank's response was to stop asking them! @adam_tooze @AndyBurnhamGM

On the role of the Bank of England, I think these comments from Louise Haigh earlier in the week are indicative of where Labour party thinking might go. Discussions about monetary-fiscal coordination feel likely. Leaves all of the crucial details to be filled in, of course.

Take this FT piece from today. “Oh UK's the gilt market may have become untethered from its peers” and the explanation amounts to “we’re addicted to debt”. It is mentioned in HALF A SENTENCE that the Bank is actively shedding gilts. THIS IS NOT SERIOUS FINANCIAL JOURNALISM.

Not being 'in hock' to the bond markets means getting on with it and getting the Bank of England to help.
