[Re: Raise interest rates gradually or risk a much sharper swing of the pendulum, Friday]
We need to ask ourselves what kind of a recovery is consistent with near-zero interest rates worldwide and continued quantitative easing (QE) in the US. If the US economy is adding hundreds of billions of dollars to GDP at a time when the Fed is pumping similar amounts into the economy through QE, is this a real recovery? A healthy economy needs to form capital through saving. But this is hampered by negative real rates. Until policy rates reach a level above inflation, we’re not really recovering, we’re just living on cheap debt.
[Re: Our booming population faces a crippling shortage of homes, yesterday]
Restrictions on private building are unwarranted and harmful. If this continues, we are likely to see increasing homelessness and more people living in temporary accommodation.
It’s true that Labour’s recognition of the housing shortage is encouraging. But its attempt to pin the blame on “land hoarders” is wrongheaded. Developers are more often blocked by planning permission laws and obstructive councils.
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Pleased councils will be incentivised to back fracking. Should adopt that approach for airport capacity.
France: Just 35 per cent have a positive view of EU membership, down from 47 per cent in 2011.
US has more companies listed on Nasdaq than any other (no surprise). In second place? Israel.
Congrats to the 12 Years A Slave team for their Golden Globe. Doing our thriving British film industry proud.