The economy is a lie

Martin Samuel is best known for his robust soccer reporting. But today he fixed his steely glare on the artifical inflation rampant throughout the economy and which is now under threat from the economic slowdown. A hearty and lively polemic which is worth casting an eye over.

A brief taster…

“The economy is false. The economy is a lie. The economy is a fictional set of numbers cooked up during a boom period that is almost over, and six months from now nothing will add up….... Our lives are full of inflated expenses that are propping up Brown’s fairyland economy and, when the penny drops, this crash will be the mightiest ever”

The rest of the article is here

Unit 2 Macro: Evaluation on Supply-Side Policies [21 May 2012]
Unit 2 Macro: Migration and the UK Economy [20 May 2012]
Unit 2 Macro: Measuring Inflation in the UK [20 May 2012]
Unit 2 Macro: Real Interest Rates [20 May 2012]
Q&A: What do we need to know about output gaps? [20 May 2012]
Unit 2 Macro: The Output Gap [20 May 2012]
Revision notes on unemployment [20 May 2012]
Unit 2 Macro: Bank Cuts UK growth Forecast for 2012 [16 May 2012]
Unit 2 Macro: Revision Notes on Supply-side Policies [10 May 2012]
Unit 2 Macro: Model answer for revision data question [9 May 2012]
Unit 3 Micro: The Dawn of a Shareholder Spring? [8 May 2012]
Unit 2 Macro: Monetary Policy and Inflation Glossary [5 May 2012]
Unit 2 Macro: Aggregate Demand Glossary [5 May 2012]
Macro Revision - Key Statistics on the UK Economy [4 May 2012]
Macro Revision: Putting Things in Context [29 Apr 2012]
Unit 2 Macro: Inflation and the Business Environment [6 Apr 2012]
Unit 2 Macro: Revision on Real Economic Data [2 Apr 2012]
Unit 2 Macro: Revision on Real Disposable Income [2 Apr 2012]
Posen on slower growth in the UK compared to the USA [30 Mar 2012]
Life in the Slow Lane - UK Growth in 2011 Lags the Euro Area [28 Mar 2012]
Beyond the Bike - Monetary Policy in Africa [28 Mar 2012]
Unit 4 Macro: Evaluating 3 Years of Quantitative Easing [27 Mar 2012]
Unit 4 Macro: Video Resources on the Euro Crisis [10 Mar 2012]
Unit 2 Macro: Policies to Drive Economic Recovery [9 Mar 2012]
Unit 2 Macro: Might Oil Prices Bring another Recession? [4 Mar 2012]
Economies hooked on central bank stimulants? [4 Mar 2012]
Unit 4 Macro: King on the UK Economy [15 Feb 2012]
Unit 2 Macro: Signs of Progress for Zimbabwe [29 Jan 2012]
Unit 2 Macro: Focus on China - Inflation [26 Jan 2012]
Inflation - what’s up, what’s down and what’s going to happen next [17 Jan 2012]
Unit 2 Macro: Quantitative Easing in the UK [8 Jan 2012]
Rising prices and falling real incomes [13 Dec 2011]
Beyond the Bike - The Value of Money [19 Nov 2011]
Australia lowers interest rate to 4.5% [1 Nov 2011]
Can the “invisible hand” solve Africa’s poverty? [13 Oct 2011]
Unit 4 Macro: Unit Labour Costs and Inflation [12 Oct 2011]
Unit 4 Macro: UK Inflation Charts [12 Oct 2011]
University Challenged [11 Oct 2011]
Unit 4 Macro: IMF Flags up Risks of Double Dip [20 Sep 2011]
Inflation in India [18 Sep 2011]
Unit 2 Macro: Interest Rates and Income Inequality [16 Sep 2011]
Study Note - Macroeconomic policy objectives [16 Sep 2011]
Monetary Policy Roundtable [25 Jul 2011]
Unit 4 Macro: Dangers of High Inflation [11 Jul 2011]
AS Macro Key Term: Supply-Side Policies [25 May 2011]
AQA Macro: Remember to revise inflation [25 May 2011]
AS Macro Key Term: Demand Pull Inflation [24 May 2011]
AS Macro Key Term: Deflation [24 May 2011]
AS Macro Key Term: Cost Push Inflation [24 May 2011]
AS Macro Key Term: Inflation [24 May 2011]
UK Economy Update: What Mervyn Said [11 May 2011]
Interest Rates Held at 0.5% once again [5 May 2011]
AS Micro: Rising Global Food Prices [2 May 2011]
Video Clips on the Chinese Economy [1 May 2011]
AS and A2 Macro Revision: Keynesian Economics [28 Apr 2011]
UK Economy at a Glance April 2011 [17 Apr 2011]
China set to become exporter of inflation [14 Apr 2011]
A2 Macro: Back to Roubini - a Year On! [11 Apr 2011]
AS Macro Key Term: Real Disposable Income [11 Apr 2011]
AS Macro Key Term: Monetary Policy Tightening [11 Apr 2011]
UK Minimum Wage rises by 2.5% in October 2011 [8 Apr 2011]
ECB breaks rank and raises interest rates [7 Apr 2011]
AS Macro Key Term: Fiscal Austerity [6 Apr 2011]
AS Macro Key Term: Aggregate Supply Shock [6 Apr 2011]
AS Macro Key Term: Inflationary Pressure [5 Apr 2011]
AS Macro Key Term: Relative deflation [2 Apr 2011]
OCR F585 June 2011: Data Charts [30 Mar 2011]
Keeping Track of UK Macro Objectives [18 Mar 2011]
Focus on Spain [16 Mar 2011]
the latest data from the MPC [8 Mar 2011]
Worst Cases of Hyperinflation [16 Feb 2011]
Combining monetary and fiscal policy to curb inflation in China [16 Feb 2011]
Inflation Stats - Look no Further! [14 Feb 2011]
The 25 Countries Whose Governments Could Get Crushed By Food Price Inflation [5 Feb 2011]
Martin Weale argues for higher interest rates now! [1 Feb 2011]
Choppy Times - An Economic Cycle Update and Resource Download [25 Jan 2011]
5 Fresh Links: Focus on Inflation [23 Jan 2011]
Economics Q&A: Will the rise in VAT harm the UK’s economic performance? [17 Jan 2011]
Economics Q&A: How might rising food prices affect food retailers and manufacturers in the UK? [16 Jan 2011]
Analysis and evaluation practice of the monetary policy decision [13 Jan 2011]
Economics Q&A: What economic factors affect the demand for new cars? [9 Jan 2011]
Economics Q&A: What are some of the benefits and drawbacks of a period of rising world food prices [4 Jan 2011]
Economics Q&A: Will the Government spending cuts affect inflation? [3 Jan 2011]
EU Economics: EU Economy in Charts Jan 2011 [29 Dec 2010]
EU Economy: Focus on Inflation [16 Dec 2010]
CPI, RPI overshoot targets. [15 Dec 2010]
What You Need to Know About Economics [18 Nov 2010]
Revision Presentation on Causes and Effects of Inflation [4 Nov 2010]
Brazil’s battle with hyperinflation [27 Oct 2010]
Revision Presentation on Measuring Inflation [26 Oct 2010]
Economics at the Movies - Austin Powers and Inflation [23 Oct 2010]
Will the Bank use QE as a hangover cure? [20 Oct 2010]
Currencies in the News - Two Videos [16 Sep 2010]
Autumn leaves are falling for the global economy [2 Sep 2010]
AS Macro: Extreme weather hits Russian economic growth [26 Aug 2010]
King on the economy [11 Aug 2010]
Choppy times ahead [11 Aug 2010]
Consumer sentiment weakens as double dip looms [2 Aug 2010]
Where next for the UK economy? [23 Jul 2010]
AS Macro: Macroeconomic Performance [5 Jun 2010]

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