Damning indictment of parts of union movement Incoming TUC general secretary Paul Nowak has appalled many of the movement’s activists by giving Keir Starmer a free pass not to increase public spending or revoke the UK’s repressive anti-trade union laws if Labour gets into power. Mr Nowak said that Labour can’t ‘turn on the spending […]
Vice-president of Royal College of Emergency Medicine Ian Higgingson doesn’t expect to be trampled in the rush of politicians coming to experience appalling situation they’ve created Ian Higginson, Vice-President of the Royal College of Emergency Medicine, has challenged politicians to come and experience for themselves the horrors faced by NHS staff and patients, in an […]
I divide the regimes for the global capital markets into three states: crisis, pre-crisis, and no crisis. The one term that is non-standard is pre-crisis; it is a state where something has gone horribly wrong in funding markets, but it is not yet well known and there is a hypothetical possibility of a full financial crisis being averted.
Recent discussions about bank runs in economics has led me to the conclusion that economists want to lump practically all behaviour around default as a “run,” which is not helpful. In order to have a better grasp of the situation, we need to distinguish various possibilities — runs, cascades, squeezes, and good old fashioned financial crises.