Sectoral Financial Balances for the UK as a % of GDP, smoothed over a year
UK Employment Stats - Oct 2026
The number of people in the UK without work that want it
A Bond Primer for Non Believers
It really is time for the nonsense to stop.
Comment on Section 2.3.5 of Wolswijk (2026), "Prohibition of Monetary Financing: An Economic Perspective"
Two paragraphs, multiple basic errors.
An Advisory Notice on Fiscal Misinformation
Discovered on the TransPennine Express out of Manchester Airport. If genuine, it changes rather a lot. If not, someone has entirely too much time on their hands.
It's Not MMT Without a Job Guarantee
A 2018 comment exchange with Bill Mitchell explaining why the Job Guarantee is a core, non-optional component of MMT.
The 9.6 per cent gilt yield is a bug in the model
The OBR’s 9.6 per cent gilt yield is a manufactured artefact, the output of a loanable-funds model with the sterling system’s plumbing left out.
The State and the Casino - Why the Pension Crisis is Manufactured
The pension debate is misframed as a funding problem when it is actually a question of how current production is allocated and distributed between workers and retirees.
Munchau's Vigilantes: Why Burnham Doesn't Need to Fear the Bond Market
A breakdown of Wolfgang Munchau’s piece on Burnhamomics, exposing the analytical errors that follow inevitably from viewing sterling monetary operations through a mainstream europhile lens.
Debt Tyranny and Other Ghost Stories
The emperor has no clothes, and the only thing keeping him warm is our collective refusal to look down.