There are many different interpretations of 'authority', but the sharpest distinction is between a top-down, dictatorial style and an understanding of what 'servant leadership' means. The former disregards the need for empathy, while the latter invites real participation. But for participation to be effective it requires empowerment, which itself relies on knowledge, awareness and a sense of conscience. This is a good way forward for Artificial Intelligence, and the Bundesliga's 50+1 ownership rule shows how it can be achieved! Background music: 'Leaders' by Text Me Records, Jorge Hernandez
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Original Broadcast: Thought for the Week
The origins of the looming crisis in world government bond markets started forty years ago; recent challenges such as the pandemic and Trump have turned the screw even harder, and in the United Kindom the dogged application of universal welfare certainly hasn't helped. But the current problem of over-indebtedness can be traced back to the 1980s and the introduction of dual capacity in financial markets, which gave rise to the 2008 financial crisis and the acceptance by governments of their role as a bottomless reserve. However, these governments must now undergo a mindset change from seeing themselves as the 'last chance saloon' for all crisis situations to being an effective provider of regulation, looking ahead to keep risks under control.
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Original Broadcast: This is Money
Is it crunch time on the bond markets or is this just another episode in a long-running soap opera that always leaves us on a cliff hanger?Turmoil on global bond markets has sent yields soaring on major countries' debt but the UK is suffering more than its rivals.So, what’s going on with the bond blow-out? How bad is it? Why does the UK pay more to borrow than similar countries? And why is it bad news for the Budget and our finances? Georgie Frost, Helen Crane and Simon Lambert discuss the bond market, explain what's going on and why it matters to you. Stoozing is back. Do you stooze, would you stooze — what on earth is stoozing, and is it wise? Plus, could you get duped by the British boutiques that are actually shoddy Chinese shops? And finally, a property report last week claimed the death of the dining room… but is it time to be contrarian and revive them? Revealing his true identity as a fully paid-up member of the property-owning bourgeoisie, Simon puts up a defence for the dining room — but do Helen and Georgie agree? Timings: 00:57 Why are UK government borrowing costs surging — and why should we care? 06:36 Is the world’s debt problem getting out of control? 10:46 What could the bond market turmoil mean for the Budget? 17:35 What does it mean for mortgages, savings and your money? 19:11 Stoozing is back: could you really make £750 from a 0% credit card? 29:46 Fake British boutiques: are you really buying cheap clothes from China? 38:03 Death of the dining room: do we still need one? 45:37 Simon’s stat of the week: more than one million pensioners paying higher-rate tax.
Guests: Helen Crane
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Original Broadcast: Thought for the Week
With the summer holidays drawing to a close in the next few days, the new team at HM Treasury will be busy looking at fresh ideas for the Budget on 28th October. The challenging economic situation calls for a fresh look at some of the underlying strategies which have driven debt so high over the past half-century. The really big problem is the extent to which 'universal, free-at-the-point-use' health care has caused deep generational unfairness; that, combined with the triple lock and unfunded state pensions, place real burdens on young generations. It's time for a major change in the underlying logic. Background music: 'People Watching' by Sir Cubworth
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Original Broadcast: Thought for the Week
In response to Andy Burnham's invitation to join his cross-party working group on overhauling social care arrangements throughout the United Kingdom, Sir Ed Davey called for diversity while Kemi Badenoch said it mustn't increase public spending. However there are other deep questions to answer as well: such as how to prepare people better for old age; will they be prepared to seize the opportunity to end universality and focus on targeted support, including for health care; and whether they can bring in a new focus on inter-generational rebalancing? Background Music: 'Young And Old Know Love' by Puddle of Infinity
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Original Broadcast: This is Money
Is the can finally going to stop being kicked down the road on social care? Andy Burnham has promised to correct what he has called a ‘dereliction of duty’ by a generation of politicians. But how does he plan to succeed where so many before him have failed, can he pull it off and who is going to end up paying? Georgie Frost, Helen Crane and Simon Lambert discuss how to solve a problem that has defeated successive governments and created a reverse lottery where the unlucky losers can see their wealth wiped out. Meanwhile, there was no move for the Bank of England this week as interest rates were held again, despite fears that the recent spike in energy prices could prompt another inflation shock. What does it all mean for our money? Plus, would you haggle at a high street store? Our man Toby Walne did, so what happened? And finally, is Britain’s beach hut boom over?
Guests: Helen Crane
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Original Broadcast: This is Money
A raft of new initiatives have been released by our new prime minister last week, covering pubs, buses and electricity bills: is this all part of a radical plan, or just more tinkering? And how do we pay for it? Budgeting for defence spending is also clearly a big issue going forward, so what does new Chancellor John Healey have in store for us?
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Original Broadcast: Thought for the Week
Thomas Jefferson's claim that all are created equal with the rights of life, liberty and the pursuit of happiness attracts lip service from politicians but not much commitment: they either want to take away liberty in the pursuit of equality, or to deny that wealth polarisation results from the black hole of economics. Will Andy Burnham also turn a Nelsonian blind eye to this challenge, allowing domestic parochialism to take precedence over the search for a new way forward where all can enjoy the benefits of individual freedom and economic empowerment — a genuinely new political and economic model? Background music: 'Hopeful Freedom' by Asher Fulero
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Original Broadcast: The Financial Outlook for Personal Investors
If you'd like to help a child, grandchild, or other young person get started investing, you have a few options when it comes to the type of account to open. Starting this month, a new option is available: Trump Accounts. Fools Robert Brokamp and Joel O’Leary discuss the details, pros, and cons. Topics covered: eligibility and contribution limits for Trump Accounts, the tax advantages, including potentially converting them to Roth accounts, the drawbacks, limitations, and potential penalties if money is withdrawn before age 59 1/2. Also, the best use cases for Trump Accounts, and other types of accounts that might be more appropriate for the youngsters in your life. Host — Robert Brokamp; Guest — Joel O’Leary.
Guests: Joel O’Leary
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Original Broadcast: Thought for the Week
The wish to tackle inter-generational rebalancing — to break the cycle of deprivation — leads directly to establishing long-term savings accounts for disadvantaged young people: that's why the Child Trust Fund included an HMRC-allocated category for those children (mainly low-income) whose families didn't open accounts. However Government needs to not only open these accounts but also monitor and take steps to deliver them in order to ensure that these young adults actually receive the resources they need in order tob achieve their potential in adult life. A parliamentary event is taking place on 15th July, asking Andy Burnham to prioritise this. Background music: 'Not Forgotten' by Dan Lebowitz
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