20 January 2009

My new favourite (UK) economics blog...

...is BBC Newsnight Economic Editor Paul Mason's "Idle Scrawl".

Why the hell this is squirrelled away so far inside the BBC website when Robert Peston's blog has a link to it seemingly on every business page is a crazy injustice. That's not to say that Peston's blog is bad; anybody who can get the right-wing blogosphere saying that he's "deliberately trying to destabilise the UK banking sector" (hilarious example here) must be doing something right. But it lacks the wide sweep and excitement of Mason's blog.

I came across Mason's blog by accident when searching for more in-depth analysis of the BBC (British Banking Crisis). Today's post is a classic, raising 4 key issues in a few hundred words:

  1. There is a danger that the UK sovereign debt could be downgraded from triple-A status.
  2. There is some chance (albeit still a minor one at present) that Barclays could be following RBS into the 'lame duck nationalisation' stable.

  3. The Irish economy is looking so bad that the IMF may have to be called in to bail the country out.

  4. the intellectual firepower behind the plans for the UK bailout and Son of Bailout look woefully inadequate compared to the people Obama has assembled to work out the US equivalents.

Absolutely riveting stuff; and by the look of it previous posts are just as good. A classic. I'll try to come back in more depth on all 4 of those issues later this week.

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