blogs.ft.com - 11/17/2008
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In an earlier post to this blog, I raised the possibility that the UK might face a triple financial crisis: a combined banking crisis, sovereign debt crisis and sterling crisis. Let me be clearer than I was before about what I mean by a financial crisis. A financial crisis is a situation ...
globaleconomicanalysis.blogspot.com - 11/13/2008
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globaleconomicanalysis.blogspot.com —
Kenneth Clarke, the former Chancellor warns Britain is
on the brink of 'meltdown' Mr Clarke, 68, said...
the British economy is headed for a "catastrophic crisis" that will be "far worse than anything that has occurred in my lifetime". "There will be a ...
(more)
UK on Brink of Meltdown
macro-man.blogspot.com - 11/15/2008
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macro-man.blogspot.com —
There is a long and glorious history of
transatlantic cross-fertilization when it comes to television programs and...
other forms of entertainment. Staples of the US television landscape such as Sanford and Son (Steptoe and Son), American Idol (Pop ...
(more)
I'm Sorry, I Haven't a Clue
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Blog Reactions
A Coming Pound Sterling Crisis?
Moon of Alabama —
... on why he blogs in such long and winded posts, Buiter today adds a long and winded post to analyzes the possibility of a Sterling crisis. ...
Blame Buiter
FT Alphaville —
Wondering why HBOS, LLoyds TSB and RBS were in freefall on Monday - down 14, 12 and 11 per cent, respectively? Tuck in to Willem Buiter’s Maverecon blog at FT.com - Could the UK face a sterling crisis, or are we in one already? This particular epic is around 5,000 words, but here are the operative paragraphs: Reduce the exposure of the state to the banking sector. If one or more systemically important UK banks were to be at risk of failing imminently, the distribution of the associated financial losses becomes a key political issue, financial stability issue and ...
the foundation of american exceptionalism
Decline and Fall of Western Civilization —
... and here -- whether the UK isn't already in a very similar triple crisis of banking, sovereign debt and currency. the reinharts further reiterate what it is exactly that differentiates the united states -- which is nearly as well positioned for such a disaster as the united kingdom -- and what could erode that difference which has made the dollar a surprising safehaven. ...
End of the beginning?
Crooked Timber —
... been all over this).
Given a failure and rescue, Switzerland would probably have to follow Iceland in a rush application to join the EU (which might have its hands full rescuing some of its own members). It’s a safe bet that the end of secret bank accounts, “wealth management” through tax minimisation and the like would be part of the price. The UK isn’t quite as vulnerable, but seems likely to be forced into the eurozone before long (for a contrary view, see Martin Wolf) And this will be accompanied ...
Related Content
UK in recession, official
ftalphaville.ft.com 1/23/2009 — The UK's in recession, and it's worse than we thought.
From Reuters:
KEY FIGURES FOR PRELIMINARY Q4 GDP
Q4 08: -1.5% QQ, -1.8 YY (FCAST -1.2% QQ, -1.4 YY
Q3 08: UNCHANGED AT -0.6 QQ, 0.3 YY
The quarterly figure is the biggest since Q2 1980, while ...
Bank of England, Huge Panic Cut
benbittrolff.blogspot.com 11/6/2008 — The market was expecting 1% at most. This cut smells of absolute panic. The market is taking this as a bad bad sign. This is the largest single cut I’ve ever seen from the Bank of England. Just another Step Closer to ZIRP, Liquidity Trap, Lost Decade. ...
News Release - US Dollar Liquidity Operations
bankofengland.co.uk 10/13/2008 — In order to provide broad access to liquidity and funding to financial institutions, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank (SNB) are jointly announcing further ...
Still waiting for deflation
ukhousebubble.blogspot.com 3/25/2009 — Today's inflation numbers were bad, although you wouldn't know it listening to any journalists. The headline consumer price index increased to 3.2 percent, up from 3 percent in January. So did the retail price index (excluding housing and indirect ...
Operation QE begins
ftalphaville.ft.com 3/11/2009 — From Reuters.
BANK OF ENGLAND SAYS ALLOTS £1.999bn of £2bn GILT PURCHASES TO COMPETITIVE BIDS.
BANK OF ENGLAND SAYS TOTAL OFFERS RECEIVED £10.508bn.
BANK OF ENGLAND SAYS BUYS £339m of 5.0% 2014 GILT AT WEIGHTED AVERAGE PRICE OF 114.792.
BANK OF ENGLAND SAYS BUYS £440m of 4.75% 2015 GILT AT ...
Pound Sinks As Britain Teeters On Edge Of Bankruptcy
globaleconomicanalysis.blogspot.com 1/22/2009 — The British Pound has imploded on fears of bank nationalization and Prime Minister Gordon Brown’s plan to give the Bank of England unprecedented powers to buy securities. This chart paints the not so pretty picture. British Pound vs. US$ Monthly ...
Guest Post: Review of Walter Bagehot's Lombard Street
nakedcapitalism.com 8/24/2009 — By Robert P. Baird of digital emunction When, back in March, the Bank of England announced that it was adopting a program of quantitative easing, The Economist reported the news with some trepidation. While recognizing that the threat of deflation ...
In Search Of Common Sense
globaleconomicanalysis.blogspot.com 3/12/2009 — I have been seeking economic common sense in high places. It's very difficult to find on either side of the Atlantic. And in the ever escalating displays of lack of common sense, the UK introduces quantitative easing to aid economy . The Bank of ...
Recession vs inflation targeting
stumblingandmumbling.typepad.com 11/28/2008 — Here’s a puzzle. Morally speaking, does it make sense to worry so much about recession whilst having supported the policy of inflation targeting for the last 16 years? When the Bank of England raises interest rates in normal times to reduce inflation ...
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