Airbus Chief Makes Obvious Statement Of Obviousness About Brexit Obviousness

We’ve been told, among other Remoaner lies, that leaving the European Union would mean Airbus abandoning their manufacturing in this country. Even, that the moment we have the temerity to leave then all those engineers at Filton, in Wales (look, it’s in Wales, who cares where?) will be abandoned to the dole queue as Johnny Foreigner legs it.

This isn’t, of course, what is going to happen. For the rather simple reason that Britain – or plants in Britain perhaps – make the wings for Airbus planes and as these things work out planes without wings aren’t regarded as hugely useful.…

See More

The UK’s Credit Outlook Was Cut – Don’t Panic!

Moody’s cut the UK’s credit outlook – that means not the rating, but which direction the rating might change in next time they have a look – rececently. It being important to understand what this means.

Not a lot.

Sovereign credit ratings aren’t paid for, they’re based on no private information. That means that the information they’re based on must be public information.

Which brings us to the efficient markets hypothesis. Which, as everyone other than the Senior Lecturer knows, in its weak form so universally agreed upon that it’s a tautology.…

See More

UK Employment Probably Hasn’t Fallen You Know

Employment in the UK has fallen at its fastest rate in four years amid growing evidence that a slowing economy is taking its toll on the labour market.

Hmm, well, not so fast there.

From the ONS:

The number of people in employment declined by 58,000 to 32.75 million in Quarter 3 (July to Sept) 2019.

Well, OK, but:

The number of part-time workers fell by 164,000 to 8.54 million in Quarter 3 2019, while the number of full-time workers increased by 106,000 to 24.21 million.

See More

Memo To Phillip Inman – 1.25% Of The Economy Isn’t A Solution

Phillip Inman in The Observer tells us that it’s rent that’s the problem. We can’t have all those nice things – infrastructure, modern broadband, a vibrant steel industry – because all the money to pay for such is being eaten up by rent.

Well Phil laddie, why not try doing some sums? 1.25% of the economy really isn’t going to make that much difference to all this. That is, rent isn’t the problem you’re making it out to be.…

See More

Let The Foreigners Pay For The New Battery Technology

Apparently Britain will fall behind unless we subsidise the installation of lots of batteries. To which the correct response is let’s fall behind and let the foreigners carry the costs.

The UK risks being left behind in Europe’s home battery boom because of a controversial tax hike on solar-battery systems, according to a report.

The worry of falling behind, well, what worry? Because we’re not talking about manufacturing the things – no one does that wort of work here anyway.…

See More

Larry Elliott Sorta Misses What Thatcherism Was – A Radical Reboot Of The UK Economy

That you might not like what Thatcherism was is one thing – perhaps you’d have preferred a continued gradual decline both relatively and in real terms. That you applaud it equally, matter of opinion. But it really does help if you understand what Thatcherism was. An incomplete but radical attempt at rebooting the British economy. Which is where this from Larry Elliott fails:

His cabinet is stuffed with Thatcherite true believers who will hardly be inclined to undertake a vital reboot of the economy

We’ve had two attempts at reboots post WWII.…

See More

A Clean Brexit Or A £200 Billion Bill For The Eurozone Failure

This is more than just politically minded scaremongering from partisan types. This is an actual and real possibility. If the eurozone falls over then Britain could be stuck with a vast, £200 billion-style, bill for the clean up. This is because, although we’re not members of the eurozone as members of the EU we’ve a part in guaranteeing various of the debts existing under the eurozone scheme.

The problem with this being firstly that contingent liability, of course.…

See More

Britons Don’t Have The Longest Working Hours In Europe – Don’t Be Silly

If we want to try to change the world it’s probably a good idea for us to know how it works already. You know, so that we can both work out whether we want to change it and also ponder through which lever to pull in order to gain the desired alteration.

This being something that is near never done when considering working hours. Because the fools will just keep on looking at the hours done working for The Man and not actual working hours.…

See More

Anti-Slavery And Trafficking Laws Increase The Amount Of Slavery And Trafficking

This is a pretty cool gig if you can manage to swing it. Be the person responsible for reducing slavery and trafficking – things we obviously want to reduce right down to zero – and then bring in laws which increase the amount of slavery and trafficking. So, the more you expend righteous effort to reduce these evils the more you find, the higher your budget and staff levels go and as a bureaucrat you’re in God’s Own Heaven.…

See More

Rising UK Retail Sales Don’t Bolster Retail Commercial Property Sector

We would normally think that rising retail sales are good for retail commercial property. You know, landlords manage to gain a slice of the increased demand for stuff sold out of their land? However, while that’s usually a good way to bet it’s not a sure thing.

For what happens if it’s retail sales not coming from high streets adorned with landlordism? Where is your landlord now? And that’s what is happening. While there is growth in those retails sales there’s a technical reason around the oil price plus the growth of online shopping.…

See More