Category Archives: reprise
Sep 22, 2019Posted by on
On looking at some of my ‘drafts posts’ I came across one that included the case for HS2 and decided to post it this week. I am reminded of an article that I read some time ago when an Englishman was bemoaning the fact it took so long (with the appeals procedures) to get things ‘done’ in England. He was engaged in a conversation with a Frenchwoman on train journey through France, in which the Frenchwoman said, “Monsieur, in France, when we want to drain a swamp, we don’t tell the frogs what we intend to do.” I’m not sure if the remark was true, or the Frenchwoman was simply poking fun at the Englishman. Either way, I thought the Frenchwoman’s remark quite funny and recounted it to my colleague when we met for our monthly ‘pie and a pint’.
The subject came up when I asked him about HS2. He is a model rail enthusiast and knows far more about trains than I do, so I assumed that he would know about the HS2. It apparently is not a subject that appears great deal in model railway magazines and my colleague knew less about the HS2 than me. We did however end up discussing high speed rail in the word today (which he knew a lot about), and specifically in relation to the notion of comparative advantage (which I knew a lot about). Incidentally, I did remember an article that I had read on Japanese Bullet Train — probably attracted to it by its reference to the kingfisher.
On Friday morning I sat at my computer (unable to sleep) and searched for articles that may support the case for HS2. Clearly I am influenced by my own views, an Independent newspaper article appealed to me claiming that HS2 won’t improve Government’s poor record on infrastructure. Although I’m not quite sure if this is not simply a left wing newspaper popping at an austere right wing government, or if it is seriously intended to address the lack of rail infrastructure in the UK.
The Independent article fails to mention that in practice that any UK government always spends more money than it receives as revenue and mentioned a report that predicted and expected economic growth in 2025. Economic growth? I live in a State dependent on deficit financing in which the public administration must raise the necessary finance. I have to wonder just how much I am influenced by what I choose to read on social-media.
Sep 21, 2019Posted by on
This week on Facebook: It was only casually reading about the Lloyds bank case that I decided to research some of the government’s financial losses¹ for which no one, and especially not a politician or apparently any other public servant is ever held responsible (the original can be viewed here).
I read that the fraud scandal carried out at Lloyds bank took the police six years to investigate at a cost £7 million (excluding the cost of the trial). The case was dealt with by the Serious Fraud Office (SFO) which, regardless of its successes and failures, as part of the public sector, has an impact on a seemingly inexorable budget deficit.
Certainly some investigative journalism usually results in a story reaching the public, it may even create a furore for a time, but the government know that any furore will eventually subsided and its cause forgotten. The fraud investigation by the SFO at Lloyds bank (a bank involved in a government £20bn bailout) resulted in six fraudsters being sent to jail and a possible £100 million compensation paid to small-business victims by Lloyds bank (1). Read more of this post
Sep 14, 2019Posted by on
This week on Facebook: I never paid a great deal of attention to the issue of forbidden drugs and legislation but age has not only enfeebled my body but also my brain. Some time ago my attention was caught by an article linking cannabis and ageing (the original can be seen here) and it was curiosity that drew me to read the article rather than any desire to smoke pot.
This week I had a conversation with an artisan who does some work for me, and he was making the case against the legalisation of cannabis. This started me thinking about the subject for another post. Is there a connivance by the government to make Aldous Huxley’s 1962 prediction a reality?
It seems to me that the nature of the ultimate revolution with which we are now faced is precisely this: That we are in process of developing a whole series of techniques which will enable the controlling oligarchy who have always existed and presumably will always exist to get people to love their servitude. Aldous Huxley
Sep 1, 2019Posted by on
In 2013 I came across The New Economics Foundation (nef) publication guide to the UK monetary and banking system with the title ‘Where Does Money Come From?’ contending that there is widespread misunderstanding of how new money is created. The original can be read here, implying that the only widespread understanding of ‘money’ lying in its purchasing power seems a reasonable conclusion and may compliment the monetarist viewpoint. Read more of this post
Apr 27, 2019Posted by on
This week on Facebook: I decided to publish a previous post of mine (at least in part), the original has been changed and can be read here. The reason for this reprise being my wish to include the new references at ¹⁄²⁄³ in the post. I’ve also changed an article to one that doesn’t require a subscription or any ‘extra’ reading and made changes to the text, making it compatible with my current posts.
Perhaps the question to ask ourselves is, “Whether or not there is an alternative?”
Apr 13, 2019Posted by on
This week on Facebook: I add this as part of my 2019 April posts on political and economic themes, in which there are two reprises that are not quite the same as the originals. However, in this post, both the article on Friday and Ian Buckley’s essay Learning from Adam Smith quote the following caution from economic historian John Kenneth Galbraith.
Corporate executives and their spokesmen who cite Smith today as the source of all sanction and truth without the inconvenience of having read him would be astonished and depressed to know he would not have allowed their companies to exist.