Opinionomics: must-read analysis and comment

Featuring Marx, bank runs, and an unusual type of job creation.

1. The Age of the Shadow Bank Run (New York Times)

Tyler Cowen writes about the return of the bank run to modern finance.

2. Supreme Court and the business of waiting in line (Washington Post WonkBlog)

Sara Kliff writes about a quirk caused by the most important Supreme Court case in a generation.

3. This disgraceful budget smacks of incompetence and cowardice (Guardian Comment is Free)

This budget, this government, "is a ship of fools with the deluded at the helm," writes Will Hutton

4. Marx, capitalists and the state (Stumbling and Mumbling)

Chris Dillow examines the phrase "the executive of the modern state is but a committee for managing the common affairs of the whole bourgeoisie".

5. When austerity is self-defeating (Slate Moneybox)

Matt Yglesias reports on a new paper all about austerity, and the failings thereof.

A woman in a poncho waits in line for the Supreme Court. Credit: Getty

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Andy Burnham's full speech on attack: "Manchester is waking up to the most difficult of dawns"

"We are grieving today, but we are strong."

Following Monday night's terror attack on an Ariana Grande concert at the Manchester Arena, newly elected mayor of the city Andy Burnham, gave a speech outside Manchester Town Hall on Tuesday morning, the full text of which is below: 

After our darkest of nights, Manchester is today waking up to the most difficult of dawns. 

It’s hard to believe what has happened here in the last few hours and to put into words the shock, anger and hurt that we feel today.

These were children, young people and their families that those responsible chose to terrorise and kill.

This was an evil act. Our first thoughts are with the families of those killed and injured. And we will do whatever we can to support them.

We are grieving today, but we are strong. Today it will be business as usual as far as possible in our great city.

I want to thank the hundreds of police, fire and ambulance staff who worked throughout the night in the most difficult circumstances imaginable.

We have had messages of support from cities around the country and across the world, and we want to thank them for that.

But lastly I wanted to thank the people of Manchester. Even in the minute after the attack, they opened their doors to strangers and drove them away from danger.

They gave the best possible immediate response to those who seek to divide us and it will be that spirit of Manchester that will prevail and hold us together.

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