Many commentators – from Robert Peston onwards – are obsessing that if interest rates rise then the government will be overwhelmed with debt servicing costs.
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It’s unlikely that there are 57 varieties of capitalism, although if you looked hard enough there may be that many. What is certain is that financial capitalism,
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Rishi Sunak’s Spending Review is one of those budgets (which this was, in all but name) that was always destined to go wrong. After all,
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As I mentioned recently, video production has been a bit bumpy of late. So we’re going to do them slightly differently for a bit, using
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The language surrounding government bonds confuses many. So too does their use. QE just makes everything more complicated. So, some explanation is required.

Quantitative easing is not widely understood, but sometime soon will have funded (albeit, indirectly) almost £900 billion of government spending. It will have done so
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Savers hate low interest rates. The rest of the economy cannot survive with anything else. This is why I think low interest rates are here
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QE is being much discussed. I anticipated this earlier this week and made this explanatory video:

Videos are back. Mark is feeling better. My sense of pessimism about the government’s response to the crisis that we face continues, however: