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…
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…
House Prices Falling
According to Nationwide, UK house prices have fallen on an annual basis for the first time since 2012. In June they fell by 0.1% compared to a year …
Post Covid Prices and Revenues - Interest Rates
Interest Rates
The first manifestation will be from interest rates, because increases in money supply take around two years to feed through into high…
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 - 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…
Covid Induced Inflation
For the last week or so, I have been writing about the effects of prices and revenues of Covid19, and the measures arising from it, such as the addit…
Post Covid Prices and Revenues - Inflation and Bubbles
Inflation and Bubbles
Over the last 30 years, large amounts of excess liquidity has been put into circulation. In the 1980's and 90's, that m…
Post Covid Prices and Revenues - The Theory Bit
The Theory Bit
Many pundits are predicting that, because government imposed lockdowns on social activity have created the worst economic slowdown in …
US Jobs Figures
US Non-Farm payroll data has shown an unexpected rise of 2.5 million jobs for May, as the US lock down ends, and workers have been able to start retu…