Why should business expect government to halt the recession when the recession does not apply to the state? It is an insult to expect a shrinking private sector to finance an expanding public sector.
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For the generation of businessmen who have never known a recession it may seem academic that this one is so different from others. But it matters for those hoping to use past experience to cope with this downturn.
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Surely all businesses can cope with a 1 per cent contraction in the economy? Not if some of them try to maintain their sales at the expense of others, they can’t. It’s time for a bit of game theory.
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What a shame Woolworth has gone bust. What a shame we never went there. Perhaps the two facts are connected?
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Donald Trump is as good as Keynesianism and better than a sovereign wealth fund. Spending £1bn on a Scottish golf course for toffs is an ideal way to offset recession.
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Interest rates will fall and inflation will plummet. That’s official: the Bank of England quietly said it while it thought no-one was listening.
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Call it a mathematical trick, but if a bear market is a 20 per cent fall in share prices, a bull market must rise 25 per cent just to get back to where it started.
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You can tell when times are tough because you can hail a taxi.  But there is more to this model of supply and demand than meets the eye.   (more…)