Today’s economic news: predictable solutions to a predictable crisis are predicted not to work

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I read this morning's news as I tried to persuade my slightly reluctant body that it is back in UK time. Having read that news, here is a summary of the economic elements of it:

Economists are worried that there will be another economic downturn. This will be for all the usual reasons.


Economists are worried that all the usual solutions to an economic downturn created by all the usual reasons will no longer work.

Economists concerned are heightened by:

Stock markets reached an all time record high yesterday, which is one of the usual signs of the usual overheating of the market which precedes a usual economic downturn for which there are now no usual solutions.


To add some unusual flavour to this situation, Brexit talks are collapsing, with the surest sign that the problem emanates from within the UK being the unusual change to the parliamentary timetable to defer discussion of the Brexit Bill because there the usual fears that the government will lose in the Commons.

There are, I am sure, other issues of consequence to note. But these dominate. They too can be summarised:

The usual headless chickens politicians pre-programmed to repeat past mistakes appear destined to deliver major economic crisis with a Brexit twist.

And there is only one possible response:

Economists propose new economic models that abandon past prescriptions of growth and substitute a focus on the increase in the wellbeing of ordinary people in a world where climate change is a reality as a solution to world economic crisis.

I call it the Green New Deal.

You call it what you like.

I suggest that unless something like it happens the next few years may not be a lot of fun.