One of my pleasures in life these days is not travelling nearly as much as I used to. The only way in which this blog
Read the full article…
The Big 4 offshore: Transparency arbitrage across legal and geographical boundaries
Wiley published this yesterday: This paper has been in the making for about six years, and I offer my thanks to Len and, most especially,
Read the full article…
We should ignore anti-inheritance tax lobbyists
I read a pile of complete nonsense about inheritance tax yesterday. It was included in an email sent to me by somebody called Nigel Green,
Read the full article…
Banks cannot lend their depositors’ funds
Introduction I keep getting comments from people who claim that my suggestion that banks do not use funds deposited with them to make loans is
Read the full article…
It’s GERS Day in Scotland
The National posted this video by me on their channel this afternoon: This is the transcript: It’s August, and so inevitably in Scotland we get
Read the full article…
Could 2008 happen again?
This is from the FT this morning: Almost three-quarters of HSBC’s Hong Kong commercial property loan book was flashing warning signs by the end of
Read the full article…
Tax cheats could fill Rachel Reeves’ ‘black hole’
People say Rachel Reeves faces a £40bn “black hole” in the UK budget. She is hinting at tax rises — but that gap could be
Read the full article…
What is profit?
I’ve spent 50 years studying profit as an accountant, economist, and political economist. And here’s the truth: almost no one understands what profit really is,
Read the full article…
How is AI fuelling tech company profits?
The FT has reported this in a newsletter this morning: Big Tech has eased investor concerns about its historic spending binge on artificial intelligence, posting quarterly
Read the full article…

Buy me a coffee!
