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Well, I’ll be .. I was just praising the Coop bank in my last post, then today they announce that their profits are up 70%, yes that’s right seven zero percent. Everything their director said on the Today programme this morning echoed what I was saying.

Tellingly though, the Coop insurance made a lot less profit, because all asset classes that they could invest in have lost value dramatically. I think that shows the damage done by the whole rollercoaster, boom and bust of growth economics. For an excellent argument for the case for steady state economics, check out my Green Party friend across the Tyne, Martin Collins’ blog. Just added him to the Blogroll – Print the legend? He’s standing for Mayor of North Tyneside – a Green Mayor, now that would be a wind of change around here.

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