[Re: Should the West cooperate with Iran to defeat ISIS in Iraq? yesterday]
I agree with Michael Rubin – the West should refrain from assisting Iran with its intervention in Iraq. The Iranian leadership’s version of Shiism has proven to be just as ruthless and authoritarian when it comes to the minorities among them as the other regimes in the area. It’s unclear what the implications of assisting Iran with its goal of gaining more influence in the region are likely to be. And if the consequences of helping them are unpredictable, one thing is sure – yet more innocent people are likely to pay the price.
The Bank’s babies
[Re: One in three companies is loss-making – that’s far too many, yesterday]
That 35 per cent of UK firms failed to make a profit in 2011 is a sad indictment of the state of capitalism in Britain. As countless economists have argued, the process of failure is central to the market economy – a large part of the system’s beauty lies in rooting out inefficient uses of resources. The author rightly points out that, by keeping rates low and pumping so much liquidity into the economy, the Bank of England has stopped creative destruction in its tracks. It’s impossible to know how much damage this has done to the economy.
BEST OF TWITTER
There has been more investment into the UK from China in last 18 months than in the previous 30 years.
UK five-year government bond yields have hit the highest level since the second quarter of 2011.
The six major banking crises since 1970s were all associated with a housing bust – Morgan Stanley.
ONS: UK house prices rose 9.9 per cent in the year to April, up from a rise of 8 per cent in March.