Many economists have described the Chancellor's new budget as a turning point in the economic crisis, that will determine the economic strategy for his remaining tenure. The question was raised whether the Chancellor would stick to the same austerity programme or adapt the formula to reignite growth through government intervention.

There has always been a perception that money solves all problems or at the very least provides security. I don't know if this is going to be true in the future. There are many people with healthy bank accounts and large properties that could find themselves in difficulty in the...

You may think the title of this article is ridiculous, but sadly it is not. One of the problems seen so frequently in the EU and Eurozone in particular is the difficulty of collecting correct or even reasonably accurate data. The body that regulates national debt data across the Eurozone...

I love the way macroeconomists come up with new terms to describe things that already exist, in an attempt to cover up the fact that something bad is happening again. Last week a new term entered the debate, a 'Triple Dip Recession' apparently this is the new stage of the...

There has been a lot of talk in the media over the last week about the EU and the possibility of a referendum on the existing agreement the UK has with the European Union. I think the discussion started because of prime minister David Cameron's recent comments, in...

The intended rise in tax on incomes exceeding €1 million to 75% of earnings has been stopped by a French court. The decision was made due to the proposed tax rise being deemed as unequal and in turn unconstitutional. The suggested tax rise for the wealthy was put...

Banks need a certain amount of money to operate, when you invest money with them they will lend out or invest that money elsewhere. They will only maintain a small amount of the money deposited in a reserve, which allows investors to withdraw their money at will. This reserve (Capital...

Wealth is a topic of much debate. Some people want to know how to become wealthy and some think it should not exist at all. I think there is an assumption that wealth is uniform in nature. I personally do not agree with that view. I classify the divisions of...

Benjamin Strong was the first governor of the Federal Reserve from 1914 to 1928. He was also the first economist to use the interest rate to control the aggregate price of goods (the level of inflation), using credit based mechanisms called open market operations as the main tool to achieve...

There has been an assumption by mainstream macroeconomists over the last thirty years, since the inception of monetarism, that inflation is purely a monetary phenomenon. This assumption has led to the concept that money supply and prices are effectively directly correlated. For example if money supply increased the expected outcome...

A 'Star Chamber' or 'Camera Stellata', as it is known in Latin, is a secret closed court which is used to prosecute people of prominent status who have abused their power. Star Chambers have been used in the past to convict people in high positions, which the existing court system...

The EU was supposedly set up to create a closer political union between the countries in Europe after the Second World War, in an attempt to avoid a similar scenario happening again in the future. The economic union was seen as a necessity to further fortify the peaceful relationship between...

The increase in private debt in the last twenty to thirty years has led many people to become concerned about the future of the economy. The argument that a high level of personal debt would create economic problems has gained support due to the recent turmoil in the financial markets....

The Bank of International Settlements (BIS), which is considered the central bank of central banks, has raised alarms that the world may be in for a second credit crunch. Chief economist Bill White, who is near to finishing his term at the BIS, claimed that, "The current market turmoil is...

A few years ago I developed the idea of tax reductions which were available if the deducted funds were used to pay for social benefits. Instead of paying tax to the government the amount that would have been paid would be sent to a charity of choice to enable social...

The Bank of England was originally formed by a group of bankers who would balance the sum of their transfers between each other's banks at the end of the trading day to reduce the number of transactions that would occur (only one payment of the total amount owed from each...

The emphasis of the blame for the current financial situation across the eurozone has been put on governments for issuing large amounts of debt, which have become excessive to the point of collapse. However I am not so sure they are solely to blame. There are two sides to a...

In the last few days the Chancellor George Osborne announced a £140 billion 'kick start' to the British economy in an attempt to get the country out of stagnant growth. The plan is to provide high street banks with up to £80 billion of funds to lend to businesses and...

In my last post I discussed the idea of introducing a national rolling forecast instead of an annual budget. The idea of a free flowing analysis and expenditure of government funds offers, in my opinion, a more efficient and practical methodology to perform government payments. In this post I would...

I recently read an article at the Institute of Economic Affairs pushing for an alternative to the current national annual budget. This is something I have wanted for a long time and believe the current annual budget is inflexible and inefficient. The article explaining the limitations of the current methodology...