Why inflation?

How much does the world spend? Total military spending by nation states reached $2.72trn in 2024, a rise of 9.4% in real terms on the year before, according to the Stockholm International Peace Resear

When a president uses his office to launch a cryptocurrency, it is clear that his modus operandi is to part people from their money. Apply this analysis to the global stage, tune out the furore over h

“Sire… worse than a crime, you have committed an error,” said Charles Maurice de Talleyrand-Périgord. A crime is whatever the feds say it is. Often not what you think it ought to be. But an error is d

Issue of the week: populism and central banks ...

We were probably wrong about tariffs. Yes, of course, they were always a bad idea and still are. Anything that interferes with our ability to freely trade with each other will make us poorer, with les

Following a trip in May to a US investment conference to meet with company bosses, James Harries, the manager of STS Global Trust, reported that, “as ever one cannot fail to be impressed by the sheer