Douglas Carswell's Blog

Who are you calling rich?

Countries, like people, are only as rich as the difference between what they own or earn, and what they owe. 

Years of Western credit bubble economics cannot change that. 

Strip away all that central bank confected credit, and we are a lot less well off than we suppose. 

Worse, not only has all that fiscal and monetary stimulus failed to engineer Western wealth creation, it seems to have made things worse.

Perhaps when the bond bubble has burst, and bailout-and-borrow economics has run its deadly course, we might be asking India for some spare rupees, please?

Back to all posts