Why us deficits can’t be cut

We must be getting close to the end of one thing… and the start of something else. The thing whose end is nigh is the bubble on Wall Street. As a bubble inflates, the lightest, lowest-quality stocks f

Issue of the week: the battle for the ...

François Bayrou, the beleaguered French prime minister, has said that the 8 September confidence vote in parliament, which is expected to go against him and his budget proposals, will not decide “the

“There is always someone worse off than you,” as Aesop reminded us. That also means there is always someone to feel superior to. In post-war Europe, Italy was the country everyone made fun of, dismiss

Speculation has reached fever pitch about the contents of the government’s forthcoming Autumn Budget. This follows the assessment of the highly respected NIESR (National Institute of Economic and Soci

Since World War II, the two landmark events in the evolution of money were Bretton Woods in 1944, when the dollar became the de facto global reserve currency, and then the Nixon Shock of 1971, when th