The decline of the us empire

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

Poor Donald Trump. There are two major parts to the US president’s political programme: tariffs and deportations. Both are in trouble with the law. Federal judges have blocked him from swiftly deporti

What a pity they are almost all dead. The Argentines who were around in the 1940s and ’50s, and old enough to remember Evita and to know what was going on. They could have come to Washington and reliv

“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

“Politicians always seem to assume that the British public isn’t willing to pay more tax in return for better public services,” says Vince Cable. “I’m not entirely sure that’s true.” The former Lib De