The 'Borrowing Costs' Ritual
Britain’s supposed ‘borrowing crisis’ says less about financial necessity than about a political class still trapped inside the rituals and superstitions of a pre-floating exchange rate world.
Borrowing
In Reality, UK Borrowing Costs Have Gone Down
A ‘bond crisis’ is upon us, apparently. Break the usual framing and the opposite emerges: borrowing costs have fallen, and the ‘crisis’ is seen for what it is - manufactured panic serving particular interests.
It's Time to Nuke the Bond Market
Why sovereign democracies must dismantle the mythology of ‘bond vigilantes’ to restore political agency
MMT Verify: Will Investors Shun Government Debt?
There is no risk that interest rates on UK government debt will reach crippling levels. Interest rates are policy variables. Paying interest is a political choice. Betteridge’s law of headlines applies.
How to fix the government's borrowing costs
The government borrows at a price of its choosing. Here’s how.