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BobBobson

Good Reading Material On Uk Economy?

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Most books on economics that are both intended for the layman (or at least not too technical), and also strike a few nails on the head (as opposed to providing yet more jargon ridden pro-status-quo propaganda junk) tend to be written by American authors and focus mainly on the US economy.

(this is double post but this forum sub-section is much more busy than in the more relevant 'economics' section)

The books that I have liked so far are:

Richard Duncan:

Dollar Crisis

Corruption of Capitalism

Peter Schiff

How an Economy grows, and Crashes!

Crash Proof 2.0

Since the US economy serves as the engine for the world economy largely due to its huge consumption and the dollars up until now status of being a global reserve currency, these books are very valuable to anyone wanting an easy to understand economical perspective.

But can aynone recommend anything similar which focuses on the economy from a British point of view?

Thanks.

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Most books on economics that are both intended for the layman (or at least not too technical), and also strike a few nails on the head (as opposed to providing yet more jargon ridden pro-status-quo propaganda junk) tend to be written by American authors and focus mainly on the US economy.

(this is double post but this forum sub-section is much more busy than in the more relevant 'economics' section)

The books that I have liked so far are:

Richard Duncan:

Dollar Crisis

Corruption of Capitalism

Peter Schiff

How an Economy grows, and Crashes!

Crash Proof 2.0

Since the US economy serves as the engine for the world economy largely due to its huge consumption and the dollars up until now status of being a global reserve currency, these books are very valuable to anyone wanting an easy to understand economical perspective.

But can aynone recommend anything similar which focuses on the economy from a British point of view?

Thanks.

Beyond-the-crash.jpg

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451.jpg

Fahrenheit 451 is quite funny tbh, as everybody thinks it is about state censorship. I was ambivilent because I saw the film first when Guy's wife sits in front of the TV all the time in a completely vacuous stare. It's funny because Bradbury went to UCLA as a lecturer. The students flat out told him it was about state censorship, when he told them it was about the dangers of TV destroying independent thought. They insisted along with the tenured professors that the book was about state censorship even though poor old Ray is the author of the book. In disgust he walked out of the well paid job which proved a nice ironic point.

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Fahrenheit 451 is quite funny tbh, as everybody thinks it is about state censorship. I was ambivilent because I saw the film first when Guy's wife sits in front of the TV all the time in a completely vacuous stare. It's funny because Bradbury went to UCLA as a lecturer. The students flat out told him it was about state censorship, when he told them it was about the dangers of TV destroying independent thought. They insisted along with the tenured professors that the book was about state censorship even though poor old Ray is the author of the book. In disgust he walked out of the well paid job which proved a nice ironic point.

Link is here

http://www.laweekly.com/2007-05-31/news/ray-bradbury-fahrenheit-451-misinterpreted/

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Ok. The Sun was obvioulsy a joke, but Nial Ferguson!?

Ughh...seriously. The guy is a pompous fecking idiot who talks the most ludicrous pro-establishment shit ever.

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Picked this up in the charity shop the other day.

AAFHB.jpg

This one also shows what one powerful man can do.....another £1 buy, but cost the people far more. ;)

9780860518297.jpg

Edited by winkie

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Of the books discussing the last five years or so, I'd recommend these two:

- "The Storm" by Vince Cable (yes, that one)

- "Whoops" by John Lanchester

Seems Whoops by john Lancaster gets a lot of good plaudits.

Don't know about reading anything by Vince Cable. It seems an unwritten rule, that anyone who has any sort of access to positions of power that influence economical policy formulation and decision making, must be indoctrinated with a view of economics conducive to maintaining the status quo parasite feeding frenzy at all costs.

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Seems Whoops by john Lancaster gets a lot of good plaudits.

Don't know about reading anything by Vince Cable. It seems an unwritten rule, that anyone who has any sort of access to positions of power that influence economical policy formulation and decision making, must be indoctrinated with a view of economics conducive to maintaining the status quo parasite feeding frenzy at all costs.

Agreed, but he wrote it before the election, when nobody (probably including him) thought the LibDems had a chance at actually governing. In the book he's spot on about the house price bubble, the securitisation scandals, breaking up the banks, the emergence of China, and (unsurprisingly for an ex-Shell man) has a bit to say about peak oil.

None of which, unfortunately, he is allowed to talk about now he's part of the Government :(

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Agreed, but he wrote it before the election, when nobody (probably including him) thought the LibDems had a chance at actually governing. In the book he's spot on about the house price bubble, the securitisation scandals, breaking up the banks, the emergence of China, and (unsurprisingly for an ex-Shell man) has a bit to say about peak oil.

None of which, unfortunately, he is allowed to talk about now he's part of the Government :(

Cool!

I will add it to the amazon wish list and time will tell if it makes it onto my reading list.

(NB* A 'Good Post' or 'Thanks' option would be good in this forum)

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Never heard of that bloke before......

......but there is something about that thoughtful looking pose that makes me think, "Economic Maestro!"

Nah mate he just finished picking his nose and now he is eating it :lol:

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Of the books discussing the last five years or so, I'd recommend these two:

- "The Storm" by Vince Cable (yes, that one)

- "Whoops" by John Lanchester

I took the advice above and have now started reading "Whoops" by John Lanchester.

Only just finished the 1st chapter but finding it to be a very good read, that describes the financial situation and terms in easy to understand layman terms.

However, I stumbled upon this sentence:

"It's easy to see that many of the banks described above are leveraged at 30/1. That means if they lose 100 million of equity, they have to contract their assets and make 3 billion of lending go away, just to stay at the same leverage ratio".

I have read back through the chapter to try and see where the author explains the pretext for this phenomena...but he simply doesn't. Any knowledgeable HPCer capable/willing to shed some light on this statement? I understand the maths behind it with regards to the changes in the balance sheet required to maintain the same rations, but what does this mean in terms of real worlds movements of capital?

Why in order to maintain the same leverage ratio, would a bank seek to call in X amount of loans in order to cover X amount of liabilities, when the lenders to the bank, may not be asking for their 'money back', so to say? For example, If I had lent a mate 100 quid, and he got his mobile phone nicked (worth say 50 quid), and therefore in order to maintain his 'ratio of leverage', he called in 100 quid from someone who he lent money too, in order to repay me, but I then told him, "naw, I cant take that money of you now as I agreed to wait 1 year for it". What then?

Edited by Retardstic

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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