Source: Adam Smith Institute
by Miles Saltiel
“A few weeks ago, the Labour back-bencher, Paula Baker, was held to have disgraced herself with remarks revealing that she hadn’t much of a clue about the bond market. There have been similar such remarks from Zarah Sultana and Nadia Whittome, other Labour back-benchers. Cue for much chuntering by those claiming to know better. But this is silly. Why should Labour back-benchers turn up knowing all about the bond market? They have recently been hired to a new job with new responsibilities. Like the rest of us, they have to learn on the job. Come to think of it, why should you, the reader of this blog, know such things? You’re all about politicians, polls and programmes. Even the freest market of inclinations are no education in the gobbledegook of bonds, with its weird vocabulary and unintuitive arithmetic. So, here’s the ‘for Dummies’ story.” (08/25/26)