Ignore this man at your financial peril

Quite so. You don’t have to know much economics – well, not much more than the supply-demand curves and a bit of Adam Smith – to recognise common sense when you read it. Indeed, economics is common sense, unless you’re someone like Krugman, favoured by the Guardian, Independent, EU, UN, NY Times, Washington Post, most of the Lib-Dems, too many of the Cameroons etc. All of whom urge us to borrow more money to buy ourselves the sustainable, hand-crafted, Fairtrade, low-carbon handcarts they’re taking us to hell in.

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