Business Spectator
Britain’s debt time bomb is still ticking
It must have been a seminal event judging by the coverage it received in British newspapers. The tabloid The Sun dedicated seven pages to it. The Daily Telegraph provided 16 pages of reports and commentary, The Guardian 23 pages and The Financial Times, not to be outdone, a full 26 pages. Few occasions would ever justify such journalistic lengths. So had Her Majesty abdicated? Were Martians about to invade Scotland? Had the English soccer team finally won a penalty shoot-out against Germany?
Newsroom
A predictable Brexit disaster
May’s abject failure to deliver Brexit would always pulverise her party and the political system with it. Somewhat naively, I thought she and her party would not let it come to that. How wrong I was.
The Australian
Property bias
Price increases in any other market are called inflation, but when house prices go up the market is said to be healthy. But house price increases are only shifting wealth from non-owners to owners. Rising houses prices never create wealth. In fact, they make tenants wishing to buy property worse off.