Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "Growth has disappeared – so what is Rachel Reeves going to do now ?" video.

  1. And you have no argument to counter Murphy's arguments. Disgruntled corby nite whose owned his own business as a chartered accountant, and a qualified Economist to boot. But you think calling him a corbynite stands up to any scrutiny. Warning: strawmanning isn't an argument; it's childish name calling. Go back to bed and leave the adults to talk.
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  2. Richard, I found a working paper from the Bank of International Settlements published in 2015, which is entitled "Why does financial sector growth crowd out real economic growth?" by Stephen G Cecchetti and Enisse Kharroubi. Their conclusions were that the financial sector outcompeted other sectors for resources and reduces real growth in the economy, as credit booms do little to improve real productivity because they starve Growth-enhancing activities such as R & D of finance. So, unwittingly, decisions made 30 years ago, have set up the circumstances that made it more likely that real economic growth would be stymied. Our financial sector has turned cancerous because it's too big relative to the rest of the economy, and after 2008, it became even more risk adverse and funding to develop new industries was sucked into speculation instead of productive investment. The economy is so starved of cap ex finance that it cannot grow. That's why Reeves/Sunak were quite happy to allow pension funds to be siphoned off instead of taxing capital gains to reduce the growth and boom and bust of the financial sector. OMG.
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