Briefings Magazine: The Central Bank Dip

 By SIMON CONSTABLE

What a difference a few decades make. In 1982, the reputation of the Federal Reserve was riding high after its leader Paul Volcker had deftly tamed the double-digit inflation that blighted the US economy during the late 1970s. A year later, when Hong Kong suffered a currency crisis, the Fed’s tangential involvement played an essential part in lifting the then-British territory out of economic and political turmoil. While the Fed’s glow lasted into the early 21st century, the institution now seems to have lost some of its luster, as have other major central banks, according to some experts. Read more here.

Stone on the Wall of the Federal Reserve Bank of New York

Benji the Pen, CC BY-SA 4.0, via Wikimedia Commons

CBS Eye on the World with John Batchelor: #UK #France The rousing Truss/Kwarteng energy scramble, supply side tumult.

 By SIMON CONSTABLE 

Listen here.

Liz Truss, British Prime Minister

Simon Dawson / No10 Downing Street, OGL 3, 

via Wikimedia Commons

Forbes: What’s The Problem? UK Economic Policy Mirrors Successful 1980s U.S. Effort

By SIMON CONSTABLE

The snarks keep on coming for Britain’s new Prime Minister and finance chief.  

Just a few days into their new jobs, Liz Russ (PM) and Kwasi Kwarteng have received a barrage of criticism for introducing some new economic policies, including tax cuts. 

But the critics seem to have gotten the wrong end of the stick. Read more here.

Kwasi Kwarteng

UK Government, OGL 3, via Wikimedia Commons

Forbes: Scottish Equality Goals Undermined As Top Colleges Favor The Well-Heeled

By SIMON CONSTABLE

Scotland’s stance on higher education should be a poster-child for public policy gone awry. In short, the outcome is the opposite of what the ruling Scottish National Party (SNP) says it desires. Read more here.

University of St. Andrews

Holger Uwe Schmitt, CC BY-SA 4.0, via Wikimedia Commons

Forbes: British Currency Mess Set To Upend U.K.’s Housing Market

By SIMON CONSTABLE

The United Kingdom’s housing market is likely to screech to a halt.

For that, you can blame Britain’s banks. 

Or the government...

Or investors.

Yep, it’s a complicated matter. But some people will find it tricky to buy or sell houses for the immediate future. Read more here.

Derek Harper / Christmas for sale sign, Torquay

Forbes: China’s Economy ‘Dismal,’ Will See No Growth, New Report

By SIMON CONSTABLE

Communist China under premier Xi Jinping is wilting fast.

The economy, already under pressure so far this year, looks to get even worse, according to a recent report from London-based consulting firm Capital Economics.

Capital kicks off with the following blistering assessment of the situation:

• “The financial world’s focus on a generational surge in inflation in advanced economies is stealing attention from a generational slowdown in China that is arguably of much greater importance for the long-term global outlook.” 

In other words, ignore China’s worsening economic quagmire at your peril. Read more here.

图片来源: 美国之音, Public domain, 

via Wikimedia Commons

Forbes: U.K. ‘Mini Budget’ Likely Just Dealt Scotland A Fiscal Time Bomb

By SIMON CONSTABLE

The United Kingdom’s finance chief just dealt an economic blow to Scotland.

It’ll likely be a slow-burn problem for the Scottish National Party, but it could end up being devastating. Read more here.

Kwasi Kwarteng

Office of U.S. Ambassador to U.K., 

Public domain, via Wikimedia Commons