http://podcast.ft.com/index.php?sid=17 en Copyright The Financial Times Ltd 2009. 'FT' and 'Financial Times' are trademarks of the Financial Times. support@podhoster.com Thu, 19 Nov 2009 07:53:57 -0500 Tue, 17 Nov 2009 00:00:00 -0500 Pod Hoster - podhoster.com 180 http://podcast.ft.com/media/images/martin-wolf-104x104.gif http://podcast.ft.com/index.php?sid=17 Martin Wolf, the FT's chief economics commentator, reads his weekly column Martin Wolf, the FT's chief economics commentator, reads his weekly column Martin Wolf podcast@ft.com Financial Times clean no http://podcast.ft.com/index.php?sid=17&pid=613 podcast@ft.com (Martin Wolf) Tue, 17 Nov 2009 00:00:00 -0500 http://podcast.ft.com/index.php?sid=17&pid=613 Martin Wolf no clean Grim truths Obama should have told Hu Obama should have made clear the need for China to revalue its currency and rebalance the global economy when he met Hu Jintao, says Martin Wolf. He could reasonably threaten punitive action, such is the need for change Obama,China 00:07:53 http://podcast.ft.com/index.php?sid=17&pid=610 podcast@ft.com (Martin Wolf) Tue, 10 Nov 2009 00:00:00 -0500 http://podcast.ft.com/index.php?sid=17&pid=610 Martin Wolf no clean Victory in the cold war was a start as well as an ending Has capitalism failed, as communism did? No. Some transition countries are in crisis; but transition itself is not. Liberal democracies and market economies can reform and adapt. They have shown these qualities before. They must do so again, says Martin Wolf Capitalism 00:07:12 http://podcast.ft.com/index.php?sid=17&pid=608 podcast@ft.com (Martin Wolf) Thu, 05 Nov 2009 00:00:00 -0500 http://podcast.ft.com/index.php?sid=17&pid=608 Martin Wolf no clean Time for a debate on immigration Diversity brings social benefits, but also costs, arising from declining trust and erosion of a sense of shared values, says Martin Wolf immigration 00:05:59 http://podcast.ft.com/index.php?sid=17&pid=607 podcast@ft.com (Martin Wolf) Tue, 03 Nov 2009 00:00:00 -0500 http://podcast.ft.com/index.php?sid=17&pid=607 Martin Wolf no clean Private behaviour will shape our path to fiscal stability It is idiotic to discuss the reduction of the huge fiscal deficits, without considering the nature of the offsetting adjustments in the private and external sectors. Some adjustments would be desirable, but others would be extremely perilous, says Martin Wolf fiscal,deficits 00:07:45 http://podcast.ft.com/index.php?sid=17&pid=600 podcast@ft.com (Martin Wolf) Tue, 27 Oct 2009 12:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=600 Martin Wolf no clean How mistaken ideas helped to bring the economy down The era when central banks could target inflation and assume that what was happening in asset and credit markets was no concern of theirs is over. Not only can asset prices be valued; they have to be, argues Martin Wolf central,banks,,inflation,,asset,prices 00:07:14 http://podcast.ft.com/index.php?sid=17&pid=596 podcast@ft.com (Martin Wolf) Fri, 23 Oct 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=596 Martin Wolf no no Why curbing finance is hard to do There is a way of making finance safe. But it would be radical: deposits would be 100 per cent reserve backed; and the liabilities of other investment vehicles would be adjusted for the market value of their assets at all times. Banking would disappear, argues Martin Wolf. curbing,banks,,mervyn,king, 00:05:59 http://podcast.ft.com/index.php?sid=17&pid=602 podcast@ft.com (Martin Wolf) Tue, 20 Oct 2009 15:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=602 Martin Wolf no clean How to manage the gigantic financial cuckoo in our nest This recovery has been no accident. When central bank money is almost free, prices of risky assets are recovering, competitors have disappeared or are weakened, making money is a relatively simple matter for the strong survivors, argues Martin Wolf bonuses,,recovery,,asset,prices 00:07:23 http://podcast.ft.com/index.php?sid=17&pid=574 podcast@ft.com (Martin Wolf) Tue, 13 Oct 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=574 Martin Wolf no no Rumours of the dollar’s death are much exaggerated Recent figures have proved that the dollar’s fall is a symptom of success, not of failure. All the same, the dollar-based global monetary system is defective. It would be good to start building alternative arrangements, says Martin Wolf dollar,currency,global,monetary 00:07:31 http://podcast.ft.com/index.php?sid=17&pid=572 podcast@ft.com (Martin Wolf) Mon, 12 Oct 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=572 Martin Wolf no no Britain’s phoney debate on slashing spending In deciding what to do about the UK's general government deficit, we must recognise the uncertainties: we do not know how big the “structural” fiscal deficit is; we do not know how long correction can be delayed before investors lose confidence; and we do not know how far a fiscal tightening will weaken aggregate demand. But the costs of being too optimistic are likely to be higher than of being too pessimistic. That should determine how policymakers respond. deficit 00:05:15 http://podcast.ft.com/index.php?sid=17&pid=569 podcast@ft.com (Martin Wolf) Tue, 06 Oct 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=569 Martin Wolf no no Finding a route to recovery and reform gets tough now The economy is back on track, but it is too soon to celebrate victory, says Martin Wolf. Rebalancing, reform and regulation are still needed, none of which will be easy. Resistance from the banks is already threatening to poison the political debate. reform,regulation,resistance,banks,economy 00:07:47 http://podcast.ft.com/index.php?sid=17&pid=565 podcast@ft.com (Martin Wolf) Tue, 29 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=565 Martin Wolf no no Why narrow banking alone is not the finance solution Demanding that banks act as narrow utilities solves the problem of the financial system taking control of the power to print money, but would need to be paired with a ban on other forms of banking. Such radical ideas may yet be entertained, says Martin Wolf narrow,utilities,banks 00:07:24 http://podcast.ft.com/index.php?sid=17&pid=566 podcast@ft.com (Martin Wolf) Mon, 28 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=566 Martin Wolf no no This time will never be different Martin Wolf welcomes a seminal empirical study of the frequently repeated cycles of euphoria, panic and default in public debt and global finance euphoria,panic,public,debt,global,finance 00:05:10 http://podcast.ft.com/index.php?sid=17&pid=562 podcast@ft.com (Martin Wolf) Thu, 24 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=562 Martin Wolf no no Why Vince Cable’s mansions tax is right Only in a country both besotted with property and determined to tax the middle classes, rather than the hugely wealthy, would people object to this obviously just idea, says Martin Wolf Vince,Cable,tax,property,Britain 00:06:18 http://podcast.ft.com/index.php?sid=17&pid=568 podcast@ft.com (Martin Wolf) Tue, 22 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=568 Martin Wolf no no Why China must do more to rebalance its economy Remember how poor hundreds of millions of Chinese still are. Then consider that the net transfer of resources abroad was equal to a third of personal consumption. China needs to increase consumption, and that means revaluing the currency, says Martin Wolf china,currency,economy,consumption 00:07:47 http://podcast.ft.com/index.php?sid=17&pid=561 podcast@ft.com (Martin Wolf) Tue, 15 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=561 Martin Wolf no no Do not learn wrong lessons from Lehman’s fall, says Martin Wolf No normal profit-seeking business can operate without a credible threat of bankruptcy, says Martin Wolf Lehman,bankruptcy,financial,crisis 00:07:49 http://podcast.ft.com/index.php?sid=17&pid=564 podcast@ft.com (Martin Wolf) Sun, 13 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=564 Martin Wolf no no Wheel of fortune turns as China outdoes the west China has emerged as the most significant winner from the global financial crisis. At the end of 2008, many questioned whether China would achieve its growth target of 8 per cent in 2009. Who now dares to do so?, asks Martin Wolf China,financial,crisis,growth,targets 00:04:55 http://podcast.ft.com/index.php?sid=17&pid=558 podcast@ft.com (Martin Wolf) Thu, 10 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=558 Martin Wolf no no Turner is asking the right questions on finance The debate is the right one but the more one analyses the debate and what is happening, the more difficult it is to believe that a safer and more responsible industry is emerging, argues Martin Wolf Turner,,Wolf,,banking 00:05:59 http://podcast.ft.com/index.php?sid=17&pid=557 podcast@ft.com (Martin Wolf) Tue, 08 Sep 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=557 Why it is still too early to start withdrawing stimulus no no It is too early for the Group of 20 leading economies to pat themselves on the back The rescue of the financial system, unprecedented monetary easing and fiscal expansion have indeed put a floor under the world economy. But it is too early for the Group of 20 leading economies to pat themselves on the back, argues Martin Wolf G20,,martin,wolf,,FT 00:08:13 http://podcast.ft.com/index.php?sid=17&pid=521 podcast@ft.com (Martin Wolf) Tue, 07 Jul 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=521 Martin Wolf no clean What would need to change if India were to become an affluent country in one generation? A great deal, says Martin Wolf, but the goal is not laughable. What would need to change if India were to become an affluent country in one generation? A great deal, says Martin Wolf Martin,Wolf,,India,,China,,global,economy 00:08:37 http://podcast.ft.com/index.php?sid=17&pid=520 podcast@ft.com (Martin Wolf) Thu, 02 Jul 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=520 Martin Wolf no clean One of the results of this whole crisis is to imperil central bank independence and not just in the UK, says Martin Wolf One of the results of this whole crisis is to imperil central bank independence and not just in the UK, says Martin Wolf martin,worlf,,central,bankers,,europe,,gordon,brown,,mervyn,king 00:06:48 http://podcast.ft.com/index.php?sid=17&pid=523 podcast@ft.com (Martin Wolf) Tue, 30 Jun 2009 00:00:00 -0400 http://podcast.ft.com/index.php?sid=17&pid=523 Martin Wolf no clean Already the panic of 2008 is fading, yet without radical changes another crisis is certain, says Martin Wolf Already the panic of 2008 is fading, yet without radical changes another crisis is certain, says Martin Wolf Martin,Wolf,,banks,,regulatory,reform,,US,treasury 00:08:43 http://podcast.ft.com/index.php?sid=17&pid=317 support@ft.com (support@ft.com) Thu, 18 Jun 2009 00:00:00 -0400 http://tamborcast.com/media/1016.guid support@ft.com no no Cuts in real spending are as inevitable under Labour as under the Tories. The only question is where they might fall, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=318 support@ft.com (support@ft.com) Tue, 16 Jun 2009 00:00:00 -0400 http://tamborcast.com/media/1013.guid support@ft.com no no The great likelihood is that the world economy will need aggressive monetary and fiscal policies far longer than many believe, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=319 support@ft.com (support@ft.com) Tue, 09 Jun 2009 00:00:00 -0400 http://tamborcast.com/media/1012.guid support@ft.com no no If China wants its claims on the US to be safe, it must facilitate an adjustment in the global balance of payments. If it and other surplus countries wish to run huge surpluses and accumulate vast financial claims, they should expect defaults, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=320 support@ft.com (support@ft.com) Thu, 04 Jun 2009 00:00:00 -0400 http://tamborcast.com/media/1011.guid support@ft.com no no Most of the deficit increase came from a surge in spending and most of the drop must be from spending curbs, says Martin Wolf 00:04:20 http://podcast.ft.com/index.php?sid=17&pid=321 support@ft.com (support@ft.com) Tue, 02 Jun 2009 00:00:00 -0400 http://tamborcast.com/media/1010.guid support@ft.com no no Martin Wolf says there are powerful arguments against fiscal retrenchment right now and he welcomes recent moves in the bond markets 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=322 support@ft.com (support@ft.com) Thu, 21 May 2009 00:00:00 -0400 http://tamborcast.com/media/994.guid support@ft.com no no How should one manage a sector that produces such 'bads'? The answer is: in the same way as any polluting activity, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=323 support@ft.com (support@ft.com) Tue, 19 May 2009 00:00:00 -0400 http://tamborcast.com/media/991.guid support@ft.com no no Is the current crisis a watershed, with market-led globalisation, financial capitalism and western domination on the one side and protectionism, regulation and Asian predominance on the other? Or will historians judge it, instead, as an event caused by fools, signifying little, asks Martin Wolf 00:05:39 http://podcast.ft.com/index.php?sid=17&pid=324 support@ft.com (support@ft.com) Tue, 12 May 2009 00:00:00 -0400 http://tamborcast.com/media/983.guid support@ft.com no no The more the crisis unfolds, the more evident it is that incentives in the financial system were (and are) badly distorted, says Martin Wolf. At the end, will the number of institutions thought 'too big to fail' be as large as now and, if so, how will they be controlled? 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=325 support@ft.com (support@ft.com) Thu, 07 May 2009 00:00:00 -0400 http://tamborcast.com/media/972.guid support@ft.com no no The UK has lost control over public spending. Like it or not, voters must elect a government willing to get it back, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=326 support@ft.com (support@ft.com) Tue, 05 May 2009 00:00:00 -0400 http://tamborcast.com/media/971.guid support@ft.com no no Over almost three decades, policymakers became ever more confident they had found, in inflation targeting, the holy grail of fiat (or man-made) money. Today, they are struggling with the deepest recession since the 1930s and the danger of deflation. How can it have gone so wrong, asks Martin Wolf 00:05:37 http://podcast.ft.com/index.php?sid=17&pid=327 support@ft.com (support@ft.com) Tue, 28 Apr 2009 00:00:00 -0400 http://tamborcast.com/media/970.guid support@ft.com no no The largest economies have made the fundamental decision to prevent bankruptcy, but this is only the first step on the long road to financial health. Those who hope for a swift return to what they thought normal two years ago are deluded, says Martin Wolf 00:05:18 http://podcast.ft.com/index.php?sid=17&pid=328 support@ft.com (support@ft.com) Thu, 23 Apr 2009 00:00:00 -0400 http://tamborcast.com/media/969.guid support@ft.com no no Fiscal deterioration in the UK and declines in manufactured output in Germany and Japan are two sides of one coin, says Martin Wolf 00:04:06 http://podcast.ft.com/index.php?sid=17&pid=329 support@ft.com (support@ft.com) Tue, 21 Apr 2009 00:00:00 -0400 http://tamborcast.com/media/982.guid support@ft.com no no Is the worst behind us? In a word, No. The rate of economic decline is decelerating. But it is too soon even to be sure of a turnround, let alone of a return to rapid growth. These are still early days, argues Martin Wolf. 00:05:20 http://podcast.ft.com/index.php?sid=17&pid=330 support@ft.com (support@ft.com) Fri, 17 Apr 2009 00:00:00 -0400 http://tamborcast.com/media/951.guid support@ft.com no no Decisive restructuring is necessary, because bankruptcy - and so losses for unsecured creditors - must be a part of any durable solution to this economic crisis, says Martin Wolf 00:05:26 http://podcast.ft.com/index.php?sid=17&pid=331 support@ft.com (support@ft.com) Tue, 07 Apr 2009 00:00:00 -0400 http://tamborcast.com/media/946.guid support@ft.com no no Given the scale of the world's macroeconomic imbalances, it is far from obvious that higher regulatory standards alone would have saved the world. This is not just a matter of historical interest. It is also relevant to the sustainability of the recovery, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=332 support@ft.com (support@ft.com) Thu, 02 Apr 2009 00:00:00 -0400 http://tamborcast.com/media/945.guid support@ft.com no no The ability to navigate through the financial crisis depends on the sincerity of the authorities' commitment to long-term stability, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=333 support@ft.com (support@ft.com) Tue, 31 Mar 2009 00:00:00 -0400 http://tamborcast.com/media/942.guid support@ft.com no no The G20 summit is dealing with the short-term symptoms of chronic global excess. The world economy cannot be safely balanced by a small number of countries spending themselves into bankruptcy. Finding a longer-term cure for the illness still lies ahead 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=334 support@ft.com (support@ft.com) Tue, 24 Mar 2009 00:00:00 -0400 http://tamborcast.com/media/941.guid support@ft.com no no With the IMF expecting world output to shrink by up to 1 per cent this year and the economies of the advanced countries to shrink by between 3 and 3.5 per cent, this is the worst global economic crisis since the 1930s. So far the congressional response has been a disaster 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=335 support@ft.com (support@ft.com) Thu, 19 Mar 2009 00:00:00 -0400 http://tamborcast.com/media/935.guid support@ft.com no no Yet even this radicalism is limited: the report rejects division of the financial system into utilities and a casino. 00:04:00 http://podcast.ft.com/index.php?sid=17&pid=336 support@ft.com (support@ft.com) Tue, 17 Mar 2009 00:00:00 -0400 http://tamborcast.com/media/934.guid support@ft.com no no Is there good reason to expect huge increases in public sector indebtedness across the globe? Yes. But this does not guarantee defaults. 00:04:40 http://podcast.ft.com/index.php?sid=17&pid=337 support@ft.com (support@ft.com) Tue, 10 Mar 2009 00:00:00 -0400 http://tamborcast.com/media/927.guid support@ft.com no no The right thing to do is 'more than enough.' It will always be possible to withdraw stimulus a year or two hence. It will be far more difficult to make action effective if depression, both economic and social, takes hold. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=338 support@ft.com (support@ft.com) Thu, 05 Mar 2009 00:00:00 -0500 http://tamborcast.com/media/926.guid support@ft.com no no If the UK government believes bail-out must be piled upon bail-out, then banking must be treated as a regulated utility - end of story. 00:04:35 http://podcast.ft.com/index.php?sid=17&pid=339 support@ft.com (support@ft.com) Tue, 03 Mar 2009 00:00:00 -0500 http://tamborcast.com/media/925.guid support@ft.com no no We are painfully learning that the world's mega-banks are too complex to manage, too big to fail and too hard to restructure. Nobody would wish to start from here. But, as worries in the stock market show, banks must be fixed, in an orderly and systematic way. 00:05:35 http://podcast.ft.com/index.php?sid=17&pid=340 support@ft.com (support@ft.com) Tue, 24 Feb 2009 00:00:00 -0500 http://tamborcast.com/media/913.guid support@ft.com no no The London summit of 1933 marked the moment at which joint efforts to manage the Great Depression collapsed. The summit of the Group of 20 countries, which will be held in the same city on April 2, must turn out quite differently. 00:05:57 http://podcast.ft.com/index.php?sid=17&pid=341 support@ft.com (support@ft.com) Thu, 19 Feb 2009 00:00:00 -0500 http://tamborcast.com/media/912.guid support@ft.com no no A cogent analysis of prospects for inflation has to be broader and more long term in thinking than that in the Bank of England inflation report. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=342 support@ft.com (support@ft.com) Tue, 17 Feb 2009 00:00:00 -0500 http://tamborcast.com/media/911.guid support@ft.com no no How far is that experience relevant to today? Japan was able to rely on exports to a buoyant world economy. This crisis is global: the bubbles and financial mania spread across much of the western world. 00:05:10 http://podcast.ft.com/index.php?sid=17&pid=343 support@ft.com (support@ft.com) Tue, 10 Feb 2009 00:00:00 -0500 http://tamborcast.com/media/910.guid support@ft.com no no The US president must do far more than hope for the best. Yet that is what one sees in his stimulus programme and, judging from the sketchy announcement by the Treasury secretary, in the new plans for fixing the banking system. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=344 support@ft.com (support@ft.com) Thu, 05 Feb 2009 00:00:00 -0500 http://tamborcast.com/media/900.guid support@ft.com no no I would far rather have to manage the UK through this crisis, despite the challenges, than Spain or Ireland, says Martin Wolf. 00:04:02 http://podcast.ft.com/index.php?sid=17&pid=345 support@ft.com (support@ft.com) Tue, 03 Feb 2009 00:00:00 -0500 http://tamborcast.com/media/891.guid support@ft.com no no However easy it is to blame the US for global economic woes, it is also to the US that the world looks for a solution. Concerted action is needed to reverse the downward spiral of despair, and that will only occur if the US gives leadership. 00:05:25 http://podcast.ft.com/index.php?sid=17&pid=346 support@ft.com (support@ft.com) Tue, 27 Jan 2009 00:00:00 -0500 http://tamborcast.com/media/890.guid support@ft.com no no Countries with large current account surpluses have long demanded an end to the profligate borrowing and spending of the customers upon whom they depended. They should have been careful what they wished for. 00:05:17 http://podcast.ft.com/index.php?sid=17&pid=347 support@ft.com (support@ft.com) Thu, 22 Jan 2009 00:00:00 -0500 http://tamborcast.com/media/889.guid support@ft.com no no By offering guarantees, the government could be subsidising the recreation of a market in lemons. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=348 support@ft.com (support@ft.com) Tue, 20 Jan 2009 00:00:00 -0500 http://tamborcast.com/media/888.guid support@ft.com no no One idea the new US president should propose is a committee at the highest level to recommend a radical restructuring of global institutions. This would aim to lower the risk of emerging market crises like those that preceded the bubbles in advanced countries. 00:05:02 http://podcast.ft.com/index.php?sid=17&pid=349 support@ft.com (support@ft.com) Tue, 13 Jan 2009 00:00:00 -0500 http://tamborcast.com/media/887.guid support@ft.com no no If the fiscal deficits are to fall sharply in the medium term, as they need to, the new US president needs effective programmes for private sector deleveraging and global reform and adjustment. 00:05:03 http://podcast.ft.com/index.php?sid=17&pid=350 support@ft.com (support@ft.com) Thu, 08 Jan 2009 00:00:00 -0500 http://tamborcast.com/media/886.guid support@ft.com no no The utterances of leading Labour and Conservative politicians do not explain how the UK is to emerge from its current quagmire. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=351 support@ft.com (support@ft.com) Tue, 06 Jan 2009 00:00:00 -0500 http://tamborcast.com/media/885.guid support@ft.com no no Some entertain hopes of restoring the globally unbalanced economic growth of the middle years of this decade. They are wrong. Our choice is between a better balanced world economy and disintegration. And it must be made this year. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=352 support@ft.com (support@ft.com) Tue, 23 Dec 2008 00:00:00 -0500 http://tamborcast.com/media/866.guid support@ft.com no no Sixty-two years after the death of John Maynard Keynes, the father of macroeconomics, it is easier for us to understand what remains relevant in his teaching as the financial crisis deepens. 00:04:19 http://podcast.ft.com/index.php?sid=17&pid=353 support@ft.com (support@ft.com) Tue, 16 Dec 2008 00:00:00 -0500 http://tamborcast.com/media/865.guid support@ft.com no no Central banks may resort to their most powerful weapons against deflation: the printing press and the so-called helicopter drop of money. Will this work? Yes. But returning to normality will prove far more elusive. 00:05:00 http://podcast.ft.com/index.php?sid=17&pid=354 support@ft.com (support@ft.com) Thu, 11 Dec 2008 00:00:00 -0500 http://tamborcast.com/media/861.guid support@ft.com no no The biggest challenge is getting through the extended emergency support to a more sustainable structure, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=355 support@ft.com (support@ft.com) Tue, 09 Dec 2008 00:00:00 -0500 http://tamborcast.com/media/859.guid support@ft.com no no A robust recovery would eliminate the danger of some countries being badly damaged. If it does arrive, there is no doubt where it will come from: not from the actions of Germany to sustain domestic demand, but from profligate Anglo-Saxons. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=356 support@ft.com (support@ft.com) Tue, 02 Dec 2008 00:00:00 -0500 http://tamborcast.com/media/858.guid support@ft.com no no The world has run out of willing and creditworthy private borrowers. In the long run, the global economy will have to rebalance. As in the 1930s, if the surplus countries do not expand domestic demand, the open world economy may even break down. 00:05:37 http://podcast.ft.com/index.php?sid=17&pid=357 support@ft.com (support@ft.com) Thu, 27 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/851.guid support@ft.com no no Is the UK on the road to disaster? Is it mad to tackle a calamity caused by excessive borrowing with still more borrowing? No, if the government remains creditworthy. Yes, if it does not. So, after its pre-Budget report, should you trust the UK government with your money, or not? 00:04:54 http://podcast.ft.com/index.php?sid=17&pid=358 support@ft.com (support@ft.com) Tue, 25 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/850.guid support@ft.com no no We have bad news and good news. The bad news is that the world economy is teetering on the brink. The good news is that, after an extended period of overvaluation, stock markets are, at last, attractively priced. This should have enticing implications for investors and even for audacious governments. 00:05:25 http://podcast.ft.com/index.php?sid=17&pid=359 support@ft.com (support@ft.com) Mon, 24 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/849.guid support@ft.com no no UK chancellor Alistair Darling has delivered not a pre-Budget report, but a crisis budget. Profligacy has replaced prudence as the watchword. But, the chancellor would insist, it is profligacy with a purpose. Will the government get away with its gamble? 00:04:13 http://podcast.ft.com/index.php?sid=17&pid=360 support@ft.com (support@ft.com) Fri, 21 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/848.guid support@ft.com no no Panic has seized markets. Deep depressions deliver not healthy cleansing of excess, but social and political catastrophe. The time for aggressive countervailing action is now. 00:02:19 http://podcast.ft.com/index.php?sid=17&pid=361 support@ft.com (support@ft.com) Tue, 18 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/845.guid support@ft.com no no In an uncertain world, an economy needs mechanisms of adjustment. The exchange rate is the most powerful such mechanism. Today's extreme circumstances have made the case for retaining exchange-rate flexibility not weaker, but stronger, says Martin Wolf. 00:05:05 http://podcast.ft.com/index.php?sid=17&pid=362 support@ft.com (support@ft.com) Thu, 13 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/844.guid support@ft.com no no The country must temper the needed adjustment to the shock, without destroying its longer-term credibility, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=363 support@ft.com (support@ft.com) Tue, 11 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/843.guid support@ft.com no no The president-elect must build on the achievements of his predecessors rather than turn the US away from the world. He must push reforms that help most Americans gain from globalisation and promote reforms abroad, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=364 support@ft.com (support@ft.com) Thu, 06 Nov 2008 00:00:00 -0500 http://tamborcast.com/media/842.guid support@ft.com no no The Bank of England's monetary policy committee has, in extreme circumstances, adopted the risk management approach followed by Alan Greenspan and Ben Bernanke at the Federal Reserve. It was right to do so. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=365 support@ft.com (support@ft.com) Thu, 30 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/832.guid support@ft.com no no The idea that a quick recession would purge the world of past excesses is ludicrous. Choosing to risk a catastrophic downward spiral would be like deciding to let a city burn in order to punish someone who smoked in bed. Everything possible must be done to prevent the inescapable recession from turning into something worse, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=366 support@ft.com (support@ft.com) Tue, 28 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/831.guid support@ft.com no no The idea that a quick recession would purge the world of past excesses is ludicrous. Choosing to risk a catastrophic downward spiral would be like deciding to let a city burn in order to punish someone who smoked in bed. Everything possible must be done to prevent the inescapable recession from turning into something worse, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=367 support@ft.com (support@ft.com) Tue, 21 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/830.guid support@ft.com no no The worst consequences of the banking crisis - a true depression - have been avoided. But the impact of the implosion of what economist Nouriel Roubini calls 'the largest leveraged asset bubble and credit bubble in history' is hitting real economies hard, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=368 support@ft.com (support@ft.com) Mon, 20 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/810.guid support@ft.com no no Leading economists from London Business School - Lucrezia Reichln, Richard Portes, Andrew Scott and Helene Rey - dissect the roots of the financial crisis, and debate how badly the real economy will be affected. The debate was chaired on Oct 14 by Mark Malcolmson in front of alumni of the LBS. 00:31:33 http://podcast.ft.com/index.php?sid=17&pid=369 support@ft.com (support@ft.com) Thu, 16 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/828.guid support@ft.com no no The costs of decisive action were vastly less than those of inaction. The fiscal burden should prove quite manageable, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=370 support@ft.com (support@ft.com) Tue, 14 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/807.guid support@ft.com no no The winner of the FT-Goldman Sachs Business Book of the Year award tells Andrew Hill, FT city editor, how concerns about the signals coming out of markets in 2007 inspired his book When Markets Collide. He warns of more turbulence to come. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=371 support@ft.com (support@ft.com) Tue, 14 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/829.guid support@ft.com no no Policymakers finally realised that a plan for dealing with such a severe financial crisis must contain those elements that are individually necessary and collectively sufficient. The announced programmes are, in scale and construction, what is needed, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=372 support@ft.com (support@ft.com) Fri, 10 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/803.guid support@ft.com no no Martin Wolf and Gillian Tett, FT capital markets editor, discuss how highly leveraged Iceland came unstuck in the global financial crisis, and how the risk of sovereign default has grown there and in other countries 00:04:23 http://podcast.ft.com/index.php?sid=17&pid=373 support@ft.com (support@ft.com) Thu, 09 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/802.guid support@ft.com no no The fear driving the breakdown in financial markets is as exaggerated as the greed that drove the opposite behaviour a little while ago. But unjustified panic also causes devastation. Martin Wolf argues it must be halted, not next week, but right now. 00:04:43 http://podcast.ft.com/index.php?sid=17&pid=374 support@ft.com (support@ft.com) Wed, 08 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/800.guid support@ft.com no no In this special podcast, Martin Wolf, chief economics commentator, discusses with FT leader writers, Christopher Adams and Chris Cook, whether the UK bank rescue plan will work, and how this week's G7 summit should react. 00:09:27 http://podcast.ft.com/index.php?sid=17&pid=375 support@ft.com (support@ft.com) Thu, 02 Oct 2008 00:00:00 -0400 http://tamborcast.com/media/799.guid support@ft.com no no As the financial crisis deepens, should the UK follow the US rescue package? Martin Wolf says on balance, the answer is: no. But the question raises some big issues: above all, he says that prudence today demands bold actions. 00:03:30 http://podcast.ft.com/index.php?sid=17&pid=376 support@ft.com (support@ft.com) Tue, 30 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/797.guid support@ft.com no no It is just over 70 years since the Great Depression. Judged by its rejection of the US Treasury's bail-out plan, Congress believes it is time to risk another one. Martin Wolf argues a slump is not inevitable but only if action is taken to prevent one. 00:04:58 http://podcast.ft.com/index.php?sid=17&pid=377 support@ft.com (support@ft.com) Fri, 26 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/792.guid support@ft.com no no The US Treasury secretary views the core challenge as illiquidity, not insolvency. By creating a market for toxic assets, he hopes to halt the spiral of falling prices and bankruptcies. But the scheme is neither necessary nor efficient, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=378 support@ft.com (support@ft.com) Wed, 17 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/789.guid support@ft.com no no Do not panic: the UK economy ought to be able to get through this crisis without a recession as deep as those of the early 1980s and 1990s, says Martin Wolf 00:03:42 http://podcast.ft.com/index.php?sid=17&pid=379 support@ft.com (support@ft.com) Tue, 16 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/788.guid support@ft.com no no Is the worst now over? Certainly not. The biggest outstanding question is whether government-led rescues of undercapitalised financial systems will be needed. This is now looking increasingly likely, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=380 support@ft.com (support@ft.com) Tue, 09 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/766.guid support@ft.com no no In this special podcast, FT editor Lionel Barber chairs a debate between Martin Wolf and John Kay on the limits to regulating the banks. The debate was inspired by opposing articles these two leading economics experts wrote in March this year (see below). 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=381 support@ft.com (support@ft.com) Tue, 09 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/787.guid support@ft.com no no Is the rescue of Fannie Mae and Freddie Mac an example of US policymaking that the UK, quite as vulnerable to the collapse in the housing market, should follow? Martin Wolf very much hopes it will not. But the pressures on the UK government to act will be strong 00:04:38 http://podcast.ft.com/index.php?sid=17&pid=382 support@ft.com (support@ft.com) Mon, 08 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/786.guid support@ft.com no no The US public has ended up with an open-ended guarantee of the liabilities created by supposedly private entities. It is a bad place to be 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=383 support@ft.com (support@ft.com) Thu, 04 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/765.guid support@ft.com no no A weak government is a risk. Any policies it introduces must avoid undermining confidence in the UK???s policy regime. 00:04:12 http://podcast.ft.com/index.php?sid=17&pid=384 support@ft.com (support@ft.com) Tue, 02 Sep 2008 00:00:00 -0400 http://tamborcast.com/media/764.guid support@ft.com no no This presidential election might well determine the character of the next, possibly final, epoch of Anglo-American global hegemony. The question is whether the American people will choose the instinct for conflict or that for co-operation. 00:05:01 http://podcast.ft.com/index.php?sid=17&pid=385 support@ft.com (support@ft.com) Fri, 29 Aug 2008 00:00:00 -0400 http://tamborcast.com/media/761.guid support@ft.com no no Superannuated cold warriors and neo-cons are salivating over the notion of a new cold war with Russia 00:04:18 http://podcast.ft.com/index.php?sid=17&pid=386 support@ft.com (support@ft.com) Tue, 15 Jul 2008 00:00:00 -0400 http://tamborcast.com/media/760.guid support@ft.com no no It is almost a year since the US subprime crisis went global. The hope that the repricing of risk would be no more than a brief interruption has been disappointed. So where is the world economy now? 00:04:35 http://podcast.ft.com/index.php?sid=17&pid=387 support@ft.com (support@ft.com) Thu, 10 Jul 2008 00:00:00 -0400 http://tamborcast.com/media/705.guid support@ft.com no no Martin Wolf examines the outlook for the UK property market, concluding that a big drop in house prices is likely. This is attributed partly to extraordinarily high prices and partly to the unavailability of credit. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=388 support@ft.com (support@ft.com) Wed, 09 Jul 2008 00:00:00 -0400 http://tamborcast.com/media/698.guid support@ft.com no no Martin Wolf reflects on why the financial crisis happened and the risks now facing the global economy. He also considers how the frequency and severity of future crises can be reduced. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=389 support@ft.com (support@ft.com) Tue, 08 Jul 2008 00:00:00 -0400 http://tamborcast.com/media/706.guid support@ft.com no no Tackling man-made climate change is much the most complex collective action problem in human history. Solving it will require concerted efforts from both developed and developing countries over at least a century. But there is no choice but to try. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=390 support@ft.com (support@ft.com) Mon, 07 Jul 2008 00:00:00 -0400 http://tamborcast.com/media/693.guid support@ft.com no no What is ahead will be tougher than the expansion the UK has been used to for 16 years. But it is not the end of the world, says Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=391 support@ft.com (support@ft.com) Mon, 07 Jul 2008 00:00:00 -0400 http://tamborcast.com/media/695.guid support@ft.com no no In the short term, the biggest monetary policy requirement is a tightening in emerging economies, many of which have strongly negative real interest rates. As important is letting jumps in energy prices pass through, forcing adjustments in energy use, says Martin Wolf. 00:05:10 http://podcast.ft.com/index.php?sid=17&pid=392 support@ft.com (support@ft.com) Wed, 18 Jun 2008 00:00:00 -0400 http://tamborcast.com/media/669.guid support@ft.com no no What explains the combination of a 'credit crunch' in the US with soaring commodity prices and rising inflation across the globe? Are these related events? So far this is not a return to the 1970s. But action is needed to keep this true, suggests Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=393 support@ft.com (support@ft.com) Fri, 13 Jun 2008 00:00:00 -0400 http://tamborcast.com/media/668.guid support@ft.com no no Investors have been able to buy utility companies, replace the equity with debt and enjoy a licence to print money. This is intolerable, argues Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=394 support@ft.com (support@ft.com) Wed, 11 Jun 2008 00:00:00 -0400 http://tamborcast.com/media/667.guid support@ft.com no no Is it possible for the vast mass of humanity to enjoy the living standards of today's high-income countries? Jeffrey Sachs has produced an analysis that manages to be both pessimistic and optimistic at the same time. One might not be quite as optimistic about the solutions. But one must recognise the salience of the challenges, argues Martin Wolf. 00:05:18 http://podcast.ft.com/index.php?sid=17&pid=395 support@ft.com (support@ft.com) Tue, 03 Jun 2008 00:00:00 -0400 http://tamborcast.com/media/650.guid support@ft.com no no Achieving sustained, rapid growth turns out to be very hard. This is no objection to the findings of the Growth Report - it is, rather, an admission of how little we know about such a complex economic, social and political process. 00:04:42 http://podcast.ft.com/index.php?sid=17&pid=396 support@ft.com (support@ft.com) Thu, 29 May 2008 00:00:00 -0400 http://tamborcast.com/media/649.guid support@ft.com no no If a country is to join the eurozone, its people must be willing to cope with the consequences forever. 00:03:32 http://podcast.ft.com/index.php?sid=17&pid=397 support@ft.com (support@ft.com) Tue, 27 May 2008 00:00:00 -0400 http://tamborcast.com/media/648.guid support@ft.com no no The eurozone is a triumph as a monetary union. Yet it is much less so as an economic union. Its creation has not caused the acceleration in dynamism that proponents hoped for - if anything, structural reforms have slowed. 00:04:50 http://podcast.ft.com/index.php?sid=17&pid=398 support@ft.com (support@ft.com) Wed, 21 May 2008 00:00:00 -0400 http://tamborcast.com/media/631.guid support@ft.com no no Everybody should remember, above all, that the opening of the world economy is the west's greatest economic policy achievement. It would be a tragedy if it were to turn its back on the world when the rest of humanity is at last turning towards it. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=399 support@ft.com (support@ft.com) Fri, 16 May 2008 00:00:00 -0400 http://tamborcast.com/media/630.guid support@ft.com no no In the 1970s, letting inflation rip, to avoid pain in the short run, increased it in the long run. The UK must not repeat that error. 00:03:22 http://podcast.ft.com/index.php?sid=17&pid=400 support@ft.com (support@ft.com) Wed, 14 May 2008 00:00:00 -0400 http://tamborcast.com/media/629.guid support@ft.com no no Oil is a finite resource; it drives global transport; and if emerging economies consumed it as Europeans do, world consumption would jump by 150 per cent. Don't blame the high price on speculators and big bad oil companies, says Martin Wolf. The reality is different. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=401 support@ft.com (support@ft.com) Wed, 07 May 2008 00:00:00 -0400 http://tamborcast.com/media/628.guid support@ft.com no no Unless we are comfortable with a crisis every five years or so, financial regulation must be radically reconsidered. Tighter rules are desirable in the longer-run interests of the banking industry itself let alone the public's. What should such regulation look like? 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=402 support@ft.com (support@ft.com) Fri, 02 May 2008 00:00:00 -0400 http://tamborcast.com/media/610.guid support@ft.com no no What does the economic turmoil mean for the UK economy? This is not a question about prospects for the next year. It is deeper than that: how well can an economy long characterised by soaring house prices, exploding debt and a dynamic financial sector adjust to a new world? 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=403 support@ft.com (support@ft.com) Tue, 29 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/609.guid support@ft.com no no Nobody knows how long these shocks will last, but they demand rapid policy changes across the globe. We must choose between fragmenting markets further and integrating them, between helping the poor and letting even more starve. 00:04:40 http://podcast.ft.com/index.php?sid=17&pid=404 support@ft.com (support@ft.com) Wed, 23 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/600.guid support@ft.com no no How do we persuade citizens the rise of the emerging countries, the brightest story of our era, is to be welcomed, asks Martin Wolf. 00:04:31 http://podcast.ft.com/index.php?sid=17&pid=405 support@ft.com (support@ft.com) Fri, 18 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/595.guid support@ft.com no no It is high time the British realised a people cannot become rich by selling ever more expensive houses to one another, argues Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=406 support@ft.com (support@ft.com) Wed, 16 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/594.guid support@ft.com no no A voluntary banking code is almost certainly not worth the paper it is written on. If regulation is to be effective, it must cover all relevant institutions and the entire balance sheet and, not least, it must make finance less pro-cyclical, argues Martin Wolf 00:05:01 http://podcast.ft.com/index.php?sid=17&pid=407 support@ft.com (support@ft.com) Tue, 08 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/590.guid support@ft.com no no The former chairman of the Federal Reserve, once lauded as the 'maestro', has, to his discomfort, become the scapegoat for the crisis. Much of the criticism is highly unfair, but there are areas where he is wrong. 00:04:43 http://podcast.ft.com/index.php?sid=17&pid=408 support@ft.com (support@ft.com) Thu, 03 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/589.guid support@ft.com no no While the economic arguments of a high level of net immigration are weak, this does not mean that substantial gross immigration, particularly of skilled people, is undesirable. 00:03:44 http://podcast.ft.com/index.php?sid=17&pid=409 support@ft.com (support@ft.com) Tue, 01 Apr 2008 00:00:00 -0400 http://tamborcast.com/media/588.guid support@ft.com no no Neither households nor the financial sector as a whole can de-leverage swiftly, other than via a calamitous mass default or by shifting their debt elsewhere, usually on to the government. A private-sector financial mania will finish up as public-sector pain. 00:04:44 http://podcast.ft.com/index.php?sid=17&pid=410 support@ft.com (support@ft.com) Tue, 25 Mar 2008 00:00:00 -0400 http://tamborcast.com/media/580.guid support@ft.com no no For three decades we have moved towards market-driven financial systems. By its decision to rescue Bear Stearns, the Federal Reserve, the institution responsible for monetary policy in the US, chief protagonist of free-market capitalism, declared this era over. 00:04:50 http://podcast.ft.com/index.php?sid=17&pid=411 support@ft.com (support@ft.com) Fri, 21 Mar 2008 00:00:00 -0400 http://tamborcast.com/media/576.guid support@ft.com no no Just as it is particularly difficult to know whether a manager is skilful rather than lucky, it is hard to distinguish talented managers from untalented, so the business is bound to attract the unscrupulous and unskilled. 00:04:28 http://podcast.ft.com/index.php?sid=17&pid=412 support@ft.com (support@ft.com) Wed, 12 Mar 2008 00:00:00 -0400 http://tamborcast.com/media/573.guid support@ft.com no no The chancellor used the new watchword 'stability' 23 times. 'Prudence', however, never crossed his lips. This is a telling shift. 00:05:15 http://podcast.ft.com/index.php?sid=17&pid=413 support@ft.com (support@ft.com) Tue, 11 Mar 2008 00:00:00 -0400 http://tamborcast.com/media/567.guid support@ft.com no no A trillion dollars here, a trillion dollars there, and pretty soon you are talking real money, even for the US. Most of the losses will fall not on the financial sector but elsewhere. 00:05:40 http://podcast.ft.com/index.php?sid=17&pid=414 support@ft.com (support@ft.com) Thu, 06 Mar 2008 00:00:00 -0500 http://tamborcast.com/media/572.guid support@ft.com no no 'Only the little people pay taxes' - that is the principle behind all the screaming about non-dom taxation, argues Martin Wolf. 00:03:47 http://podcast.ft.com/index.php?sid=17&pid=415 support@ft.com (support@ft.com) Tue, 04 Mar 2008 00:00:00 -0500 http://tamborcast.com/media/566.guid support@ft.com no no If central banks are confident commodity prices will stop rising, they should slash rates. But, given the continued growth of emerging economies, they cannot be sure of that. Worse, core inflation seems to be drifting upwards. 00:05:16 http://podcast.ft.com/index.php?sid=17&pid=416 support@ft.com (support@ft.com) Tue, 26 Feb 2008 00:00:00 -0500 http://tamborcast.com/media/552.guid support@ft.com no no When bubbles burst, asset prices decline, net worth of non-financial borrowers shrinks and illiquidity and insolvency emerge in the financial system. The US government can rescue the economy. It is now being forced to do so. But that is not the end of this story 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=417 support@ft.com (support@ft.com) Thu, 21 Feb 2008 00:00:00 -0500 http://tamborcast.com/media/539.guid support@ft.com no no The lesson for the government seems to be it is not enough to make what seem to be the right decisions if one does so in the wrong way, suggests Martin Wolf. 00:03:49 http://podcast.ft.com/index.php?sid=17&pid=418 support@ft.com (support@ft.com) Tue, 19 Feb 2008 00:00:00 -0500 http://tamborcast.com/media/538.guid support@ft.com no no The link between the bursting of the housing bubble and the fragility of the financial system has created huge dangers for the US and the world. The US public sector is coming to the rescue and will succeed, but the journey will be uncomfortable, argues Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=419 support@ft.com (support@ft.com) Tue, 12 Feb 2008 00:00:00 -0500 http://tamborcast.com/media/537.guid support@ft.com no no In place of erstwhile hopes for the emergence of a democracy, we have proto-fascism: aggrieved nationalism; bullying of smaller nations; a cult of the strong leader; suspicion of enemies within; and resentment of foreigners. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=420 support@ft.com (support@ft.com) Thu, 07 Feb 2008 00:00:00 -0500 http://tamborcast.com/media/525.guid support@ft.com no no The credit crunch is the economy's brutal way of telling us that this era of unsustainable growth in spending and debt is over. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=421 support@ft.com (support@ft.com) Tue, 05 Feb 2008 00:00:00 -0500 http://tamborcast.com/media/524.guid support@ft.com no no We have a banking sector that has a demonstrated capacity to generate huge crises because of the incentives to take on under-appreciated risks. We lack the will and even the capacity to regulate it, yet have no obvious alternative but to try to do so. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=422 support@ft.com (support@ft.com) Tue, 29 Jan 2008 00:00:00 -0500 http://tamborcast.com/media/523.guid support@ft.com no no If the US succeeds in its ???risk management', it will renew and, at worst, exacerbate the fragility, both domestic and international, that triggered the turmoil. If it fails, the US and, perhaps, much of the rest of the world could well suffer a prolonged period of economic weakness. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=423 support@ft.com (support@ft.com) Fri, 25 Jan 2008 00:00:00 -0500 http://tamborcast.com/media/501.guid support@ft.com no no A medium-term inflation target provides a clear objective for policy and so the best chance of avoiding recession. To change ships in the midst of a storm would be a catastrophic blunder. 00:03:34 http://podcast.ft.com/index.php?sid=17&pid=424 support@ft.com (support@ft.com) Tue, 22 Jan 2008 00:00:00 -0500 http://tamborcast.com/media/500.guid support@ft.com no no For one person it feels like a snake; for another a leathery sail. A third says a tree trunk. A fourth a pull rope. Explanations for what has happened to the world economy are just as diverse. The accurate story is that it is a combination of the various elements. 00:04:42 http://podcast.ft.com/index.php?sid=17&pid=425 support@ft.com (support@ft.com) Wed, 16 Jan 2008 00:00:00 -0500 http://tamborcast.com/media/462.guid support@ft.com no no The regulatory net should cover all systemically important financial institutions. The question the authorities need to ask themselves is simple: if a specific institution fell into substantial difficulty would they have to intervene? 00:04:49 http://podcast.ft.com/index.php?sid=17&pid=426 support@ft.com (support@ft.com) Fri, 11 Jan 2008 00:00:00 -0500 http://tamborcast.com/media/458.guid support@ft.com no no Policymakers must focus on preserving credibly low inflation, essential if a retreat of the pound is not to become a rout, argues Martin Wolf. 00:03:54 http://podcast.ft.com/index.php?sid=17&pid=427 support@ft.com (support@ft.com) Wed, 09 Jan 2008 00:00:00 -0500 http://tamborcast.com/media/454.guid support@ft.com no no The health of the global economy demands the survival of an open world. Whether the present crisis proves a blip or the end of an era depends on whether openness survives, says Martin Wolf 00:04:57 http://podcast.ft.com/index.php?sid=17&pid=428 support@ft.com (support@ft.com) Tue, 18 Dec 2007 00:00:00 -0500 http://tamborcast.com/media/450.guid support@ft.com no no It is vital for hopes of peace to sustain the positive-sum world economy in which everybody can become better off, but no less vital to tackle the environmental challenges it has thrown up. The condition for success is investment in human ingenuity, argues Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=429 support@ft.com (support@ft.com) Fri, 14 Dec 2007 00:00:00 -0500 http://tamborcast.com/media/448.guid support@ft.com no no The Bank of England must not abandon all caution. It will be able to rescue the real economy if and only if low inflation remains believable, suggests Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=430 support@ft.com (support@ft.com) Thu, 13 Dec 2007 00:00:00 -0500 http://tamborcast.com/media/447.guid support@ft.com no no The money to be dropped by central banks now is not that large. But if this does not work, argues Martin Wolf, more will surely follow 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=431 support@ft.com (support@ft.com) Wed, 12 Dec 2007 00:00:00 -0500 http://tamborcast.com/media/446.guid support@ft.com no no The credit crisis may be just as important a watershed for financial markets and the world economy as the emerging market financial crises of 1997 and 1998 and the bubble in technology stocks that burst in 2000. Martin Wolf gathers the evidence 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=432 support@ft.com (support@ft.com) Tue, 04 Dec 2007 00:00:00 -0500 http://tamborcast.com/media/437.guid support@ft.com no no For people to tolerate radical change in energy use, they must first be frightened and then offered a good way out. No country will deliver big cuts if the US does not. There will be no technological leaps unless the US commits resources, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=433 support@ft.com (support@ft.com) Thu, 29 Nov 2007 00:00:00 -0500 http://tamborcast.com/media/436.guid support@ft.com no no That three men pleaded guilty to wire fraud does not prove they were. It demonstrates that the offers made by US prosecutors are of a kind sensible people cannot refuse, argues Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=434 support@ft.com (support@ft.com) Wed, 28 Nov 2007 00:00:00 -0500 http://tamborcast.com/media/432.guid support@ft.com no no What is wrong with the sector? It is too profitable, over-protected and takes risks, which is why a crisis emerges every few years. But the public sector subsidises this risk-taking, argues Martin Wolf 00:04:49 http://podcast.ft.com/index.php?sid=17&pid=435 support@ft.com (support@ft.com) Tue, 20 Nov 2007 00:00:00 -0500 http://tamborcast.com/media/426.guid support@ft.com no no It is plausible that the US will experience a lengthy period of sluggish growth in domestic private demand, partially offset by fiscal expansion and an improvement in net exports. The rest of the world must now become the demand engines of the world economy, argues Martin Wolf 00:04:40 http://podcast.ft.com/index.php?sid=17&pid=436 support@ft.com (support@ft.com) Thu, 15 Nov 2007 00:00:00 -0500 http://tamborcast.com/media/425.guid support@ft.com no no The blame for the bank's vulnerability lies with its management, argues Martin Wolf 00:03:48 http://podcast.ft.com/index.php?sid=17&pid=437 support@ft.com (support@ft.com) Tue, 13 Nov 2007 00:00:00 -0500 http://tamborcast.com/media/424.guid support@ft.com no no The rest of the world wishes to enjoy the energy-intensive lifestyles that have, hitherto, been the privilege of less than a sixth of humanity. This desire has big consequences for the world's economic, strategic and environmental future, argues Martin Wolf 00:05:15 http://podcast.ft.com/index.php?sid=17&pid=438 support@ft.com (support@ft.com) Tue, 06 Nov 2007 00:00:00 -0500 http://tamborcast.com/media/415.guid support@ft.com no no A capitalism that generates vast wealth, partly on the back of political connections, and rewards those who resist competition is likely to generate social and political drawbacks, argues Martin Wolf. 00:04:49 http://podcast.ft.com/index.php?sid=17&pid=439 support@ft.com (support@ft.com) Thu, 01 Nov 2007 00:00:00 -0400 http://tamborcast.com/media/413.guid support@ft.com no no The British government has run a 'stealth' immigration policy. But that approach is now unworkable. Perhaps the UK should move to market compatible systems, such as auction of work permits, argues Martin Wolf. 00:03:58 http://podcast.ft.com/index.php?sid=17&pid=440 support@ft.com (support@ft.com) Tue, 30 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/412.guid support@ft.com no no Is it possible to justify complex and expensive subsidies, mandates and protectionist measures? No. But that does not stop people from trying. 00:04:57 http://podcast.ft.com/index.php?sid=17&pid=441 support@ft.com (support@ft.com) Tue, 23 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/405.guid support@ft.com no no According to the IMF, the world is in the midst of a period of exceptional growth. While a happy outcome depends on sustained openness and monetary stability, this can no longer be ensured by developed countries alone. Emerging markets have become big players, argues Martin Wolf. 00:04:26 http://podcast.ft.com/index.php?sid=17&pid=442 support@ft.com (support@ft.com) Fri, 19 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/404.guid support@ft.com no no Arguments from wealthy people that they should pay less tax because they shower benefits upon us, should be treated with contempt, says Martin Wolf 00:03:41 http://podcast.ft.com/index.php?sid=17&pid=443 support@ft.com (support@ft.com) Tue, 16 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/401.guid support@ft.com no no Should we be concerned that states are emerging as major owners of wealth, in particular through 'sovereign wealth funds', asks Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=444 support@ft.com (support@ft.com) Tue, 09 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/399.guid support@ft.com no no Is the rest of the world too reliant on the US for economic growth, asks Martin Wolf. 00:04:50 http://podcast.ft.com/index.php?sid=17&pid=445 support@ft.com (support@ft.com) Tue, 09 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/400.guid support@ft.com no no The persistence of sizeable structural overall deficits leaves the government little room to cope with bad news, argues Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=446 support@ft.com (support@ft.com) Thu, 04 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/392.guid support@ft.com no no The impact of a correction in property prices and household spending would be negative: another Anglo-Saxon spending and debt machine would bite the dust, argues Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=447 support@ft.com (support@ft.com) Wed, 03 Oct 2007 00:00:00 -0400 http://tamborcast.com/media/389.guid support@ft.com no no It is possible to sell complex products safely, but only for companies that demonstrably care about their reputations, argues Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=448 support@ft.com (support@ft.com) Tue, 25 Sep 2007 00:00:00 -0400 http://tamborcast.com/media/384.guid support@ft.com no no The Federal Reserve may well have been right to be bold last week. But it cannot be foolhardy about inflation, argues Martin Wolf. 00:04:56 http://podcast.ft.com/index.php?sid=17&pid=449 support@ft.com (support@ft.com) Thu, 20 Sep 2007 00:00:00 -0400 http://tamborcast.com/media/383.guid support@ft.com no no The Bank is concerned about the health of the economy, while the banks are concerned only about their survival. Guess who swerved first? 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=450 support@ft.com (support@ft.com) Tue, 18 Sep 2007 00:00:00 -0400 http://tamborcast.com/media/382.guid support@ft.com no no Financial panic has hit both the public and politicians of the UK over the past week, to deliver two remarkable results. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=451 support@ft.com (support@ft.com) Tue, 11 Sep 2007 00:00:00 -0400 http://tamborcast.com/media/381.guid support@ft.com no no The era in which the world could rely on the engine of US consumption is now at an end. 00:04:49 http://podcast.ft.com/index.php?sid=17&pid=452 support@ft.com (support@ft.com) Thu, 06 Sep 2007 00:00:00 -0400 http://tamborcast.com/media/380.guid support@ft.com no no In the old system hospitals hired senior house officers; now they are sent them like a parcel of slaves, argues Martin Wolf. 00:03:38 http://podcast.ft.com/index.php?sid=17&pid=453 support@ft.com (support@ft.com) Tue, 04 Sep 2007 00:00:00 -0400 http://tamborcast.com/media/379.guid support@ft.com no no Regulation may fall between hard and impossible. It is why financial institutions must never be too big to fail. 00:04:50 http://podcast.ft.com/index.php?sid=17&pid=454 support@ft.com (support@ft.com) Tue, 28 Aug 2007 00:00:00 -0400 http://tamborcast.com/media/378.guid support@ft.com no no If some of the most powerful institutions in the world have been playing with fire, they need to feel the burns. 00:04:53 http://podcast.ft.com/index.php?sid=17&pid=455 support@ft.com (support@ft.com) Thu, 23 Aug 2007 00:00:00 -0400 http://tamborcast.com/media/350.guid support@ft.com no no One way to improve London airports is to price the growth of flying out of the skies. But which government would dare, asks Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=456 support@ft.com (support@ft.com) Tue, 21 Aug 2007 00:00:00 -0400 http://tamborcast.com/media/346.guid support@ft.com no no American households must spend more than their incomes. If they fail to do so, they face the threat of recession, says Martin Wolf 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=457 support@ft.com (support@ft.com) Wed, 15 Aug 2007 00:00:00 -0400 http://tamborcast.com/media/345.guid support@ft.com no no Markets must regulate themselves. The only thing likely to persuade them to do so is the certainty that players will be allowed to go bust, argues Martin Wolf 00:04:23 http://podcast.ft.com/index.php?sid=17&pid=458 support@ft.com (support@ft.com) Thu, 28 Jun 2007 00:00:00 -0400 http://tamborcast.com/media/317.guid support@ft.com no no Alistair Darling has the opportunity to undo some mistakes. It will take some courage to take on the prime minister but his predecessor at the Treasury has shown it can be done 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=459 support@ft.com (support@ft.com) Wed, 20 Jun 2007 00:00:00 -0400 http://tamborcast.com/media/306.guid support@ft.com no no The changes to be put forward in Brussels are inherently constitutional and justify a referendum, argues Martin Wolf. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=460 support@ft.com (support@ft.com) Fri, 15 Jun 2007 00:00:00 -0400 http://tamborcast.com/media/298.guid support@ft.com no no Interpreting changes in stock growth is difficult and, in the UK, extremely controversial 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=461 support@ft.com (support@ft.com) Wed, 13 Jun 2007 00:00:00 -0400 http://tamborcast.com/media/299.guid support@ft.com no no There are two explanations for global capital flows: a money glut and a savings glut 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=462 support@ft.com (support@ft.com) Mon, 11 Jun 2007 00:00:00 -0400 http://tamborcast.com/media/300.guid support@ft.com no no The WSJ is not threatened with disappearance but instead with inclusion in the world's most dynamic media empire 00:03:07 http://podcast.ft.com/index.php?sid=17&pid=463 support@ft.com (support@ft.com) Thu, 07 Jun 2007 00:00:00 -0400 http://tamborcast.com/media/290.guid support@ft.com no no The new 'science' of happiness has failed to conquer classical Anglo-Saxon liberalism. 00:04:37 http://podcast.ft.com/index.php?sid=17&pid=464 support@ft.com (support@ft.com) Tue, 29 May 2007 00:00:00 -0400 http://tamborcast.com/media/284.guid support@ft.com no no It is almost inconceivable that Beijing will grant what look like one-sided concessions to demands from the 'sole superpower'. That would be humiliating. 00:04:54 http://podcast.ft.com/index.php?sid=17&pid=465 support@ft.com (support@ft.com) Tue, 24 Apr 2007 00:00:00 -0400 http://tamborcast.com/media/283.guid support@ft.com no no Yeltsin's story may then be seen as at best a partial success and at worst a gross failure. I would regard it as closer to the former. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=466 support@ft.com (support@ft.com) Thu, 19 Apr 2007 00:00:00 -0400 http://tamborcast.com/media/270.guid support@ft.com no no For its credibility, the monetary policy committee will have to come down hard on the UK's inflation surge, even if it means overkill on interest rates. 00:04:12 http://podcast.ft.com/index.php?sid=17&pid=467 support@ft.com (support@ft.com) Tue, 17 Apr 2007 00:00:00 -0400 http://tamborcast.com/media/268.guid support@ft.com no no Martin Wolf discusses the demise of the bank's moral authority in its anti-corruption drive. 00:05:13 http://podcast.ft.com/index.php?sid=17&pid=468 support@ft.com (support@ft.com) Tue, 10 Apr 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_wolf_apr_13_2007 support@ft.com no no The right policy is to combine openness to trade with a politically acceptable sharing of the gains in high-income countries. The challenge is huge. But it is one at which we cannot afford to fail. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=469 support@ft.com (support@ft.com) Tue, 03 Apr 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_wolf_apr_03_2007 support@ft.com no no The US-South Korea trade deal has big dangers of fragmentation for global trade, with serious implications for businesses. 00:05:14 http://podcast.ft.com/index.php?sid=17&pid=470 support@ft.com (support@ft.com) Thu, 29 Mar 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_mar_29_2007 support@ft.com no no The British policy of subsidising lone-parent families implies that incentives do not matter and that marriage is of no interest to society. 00:03:29 http://podcast.ft.com/index.php?sid=17&pid=471 support@ft.com (support@ft.com) Tue, 27 Mar 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_wolf_apr_05_2007 support@ft.com no no A decade or so from today we should have a far better idea than today of how far one of Europe's hitherto most successful economies is able to thrive within the straitjacket of the currency union. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=472 support@ft.com (support@ft.com) Wed, 21 Mar 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_mar_21_2007 support@ft.com no no Chancellor Gordon Brown's eleventh and final Budget contained apparently bold initiatives but on closer inspection it was sleight of hand to please Labour backbenchers but of modest economic benefit. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=473 support@ft.com (support@ft.com) Tue, 20 Mar 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_wolf_mar_20_2007 support@ft.com no no Though the differences are striking, by looking carefully at China and India one can learn about their prospects for growth. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=474 support@ft.com (support@ft.com) Thu, 15 Mar 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_wolf_mar_15_2007 support@ft.com no no David Cameron and Gordon Brown show the perils of hyperactive policymaking on climate change. The big rule, as always, is: keep it simple, stupid. 00:00:00 http://podcast.ft.com/index.php?sid=17&pid=475 support@ft.com (support@ft.com) Tue, 13 Mar 2007 00:00:00 -0400 http://podcast.ft.com/audio/martin_wolf_mar_13_2007 support@ft.com no no Nothing short of a catastrophe will stop China, India and the rest from developing. Europeans must adapt to enjoy exciting opportunities in a bigger world. 00:05:51