Ed: Catherine Blaiklock is the new economics spokesman for UKIP.
Economics has been my life. Not theoretical economics but real life economics.
I was a geographer at Oxford and had the fortune, or misfortune, to do exactly the same course as Theresa May. If the current day students protest about May’s picture on the walls of the School of Geography, can you imagine what they would do to mine. Apparently, as of a few days ago, May’s picture is being rehung. The cynic could say, that is because her Brexit will be so weak as to be non-existent so it is now acceptable to hang her picture.
After going to Oxford, I went to India for a year on the Commonwealth Scholarship. I spent a year studying International relations and politics at one of India’s best postgraduate universities in Delhi. What an eye opener that was. India at that time was a socialist mire of bureaucracies and lunacy. My room cost a £1 a month but it took 3 days travelling around town and about £5 in buses and rickshaws fare to collect my £30 grant – there were so many signatures and rubber stamps needed, from offices ten miles apart.
From India, I applied for jobs in investment banks. It was just after big bang. Options were just starting and I ended up running an entire desk for the investment bank Merrill Lynch on Wall Street in New York, aged twenty four. I joined a week before the 1987 stock market crash. That was the first baptism by fire.
I was a trader, not a salesperson. I made prices. I lived or died by my decisions and what a training it was. I lived through the two major stock market crashes, the Russia debt crisis and many others, but the worst by far was the Asian financial crisis. In one month, the Indonesian Rupiah went from Rps 2000 to the dollar to Rps 20,000. Just imagine it. It is like the pound being worth £1.30 to the dollar now and being worth 13p by October. Interest rates went to 1000% overnight.
The Asian crisis is really important because it is an omen for what is happening right now, today, in the world. There is a loss of confidence in governments worldwide. You see this politically across the world. The financial result is that interest rates will rise and rise fast. We are going to have a public debt crisis as no one wants to own government bonds. We are already starting to see this playing out in Turkey, Argentina and South Africa – all of which I predict will eventually default. Similar stresses, I predict, are likely to hit the Euro in the next couple of years.
Here are some of the financial articles I have written:
This one was about the public debt crisis and our insane public sector debts.
I was commissioned to retract a Financial Times article and is about all the non-tariff barriers that the EU puts in place. As I write here, regulations and non-tariff barriers are a French national pastime.
You will find others on Conservative Woman (a blog that has nothing to do with the Conservative Party and defines itself as the philosophy, not the party), including on student debt, national health waste and Nike using cheap labour in Asia, and even possibly subcontracting to companies in China who use North Korean labour, whilst at the same time trying to bring down the Trump administration.
The Bruges group have published a number of my specifically financial articles. Here are some:
- ‘Meltdown in Turkey – an omen for the Euro’
- ‘The IEA essay prize is looking at the wrong side of the housing equation.’
- ‘Is the Euro going to collapse?’
- ‘Draghi doesn’t understand how the bond markets are dangerous.’
I am also particularly interested in what I call the ‘Economics of Madness’ or the economics of the poorhouse. Diversity: How much does it really cost? Not just the costs in terms of not having the best possible people but in terms of an entire ‘diversity’ industry that has been built up. I have said before, ‘You cannot eat diversity.’ I have written here on UKIP daily about the true costs of training so many female doctors.
I am interested in the true costs of immigration. Not just the job displacements but the costs in terms of crime, lawyers and fraud. I wrote about one benefit claimant and how her ridiculous sentence was so small that she ended up effectively on a grossed-up basis after tax, earning over £600,000 per annum. In many areas, crime seems to pay financially right now.
And finally, I am interested in public sector salaries and pensions. The grossly distorted salaries and pensions at the top and the difficulty of recruiting people at the bottom because of the pay and conditions. This also applies to our quangos, particularly HS2 and other vanity projects.
I hope to be able to bring economics back to the reality of people’s lives and to try to stop the disaster of mass immigration and the economic and cultural destruction of our once, great country.
[Ed: please note that the last sentence has been changed on Sept 14th, as requested by the author to reflect her true attitude towards Brexit!]