Trump sees a golden age

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

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

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

“We’ll have a majority [on the Federal Reserve Board] very shortly… People are paying too high an interest rate… We have to get the rates down a little bit,” says Donald Trump. The US president isn’t

Parents of young children, and pet owners, often start to worry when they have been enjoying an unusually long period of silence. Investors are experiencing a similar sensation. Markets seem calm, wit

The “good news” now being heralded by the US media and the administration: the take from tariffs surged to $31bn in August, setting new monthly high for 2025. Secretary of the Treasury Scott Bessent s