Economic Recovey?
UK retail sales rose by 13.9% in June compared to May, taking them back to near pre-lockdown levels. In addition UK PMI data for Services rose to 56…
OBR Report Shows We Are Headed For Rising Interest Rates, a Financial Crash, and Inflation
In its latest Fiscal and Sustainability Report, the OBR notes that the Public Sector Borrowing Requirement (PSBR), or what it now calls public sector…
Sunak's Hors D'Ouvres
Sunak's budgetary offering yesterday was an irrelevant sideshow. The amounts of money involved were tiny compared to the problems created by the…
Post Covid Prices and Revenues - Revenues - Profit of Enterprise
Profit of Enterprise
Surplus value/profit falls because the value of labour-power rises, as costs rise due to falling productivity, as a result of me…
Post Covid Prices and Revenues - Lockdown
Lockdown
The lock down of social activity has caused an economic slowdown far greater than was provoked by the 2008 financial meltdown. It is the big…
Post Covid Prices and Revenues - The Reversal
The Reversal
The economic crisis created by the lock down of social activity, imposed by some governments, has created a completely different situati…
Post Covid Prices and Revenues - 2008/10
2008/10
So, this was the situation as far as the prices of commodities and asset prices, in the 25 years up to 2008. The financial crisis of that yea…