“The failure of economists to forecast recessions is virtually unblemished,” notes Prakash Loungani, assistant director at the International Monetary Fund (IMF). This includes the economists at the IM

We are in a real-life game of Risk. In 2019, Fiona Hill, an official at the US National Security Council during Donald Trump’s first term, said the Russians had informally proposed a plan whereby they

Issue of the week: Trump vs. the Fed ...

Zipcar reverses out of Britain: Zipcar, the car-sharing group owned by US rental company Avis Budget, is leaving the British market. The UK unit swung to a £4m operating loss in 2024 from a £303,000 p

Issue of the week: Venezuela and the markets ...

In May 2008, I was in Ireland on a holiday I eventually had to cut short because the property and credit bubble had made everything absurdly expensive and blown my budget. One day, I fell into convers