Still waiting
“This suspense is terrible. I hope it will last.” – The Hon. Gwendolen Fairfax in ‘The Importance of Being Earnest’ by Oscar Wilde. The…
Enter the Guv’nor
“Mark Carney, the new governor of the Bank of England, could hardly have timed his arrival better. Even before he launched his bid to…
Global warning
“No bubbles. Because it’s normal for large liquid asset classes to nearly double in value over less than a year and then drop 10%…
Losing the loser’s game
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a…
The tulip harvest is in!
“When the cover of a major financial magazine features a cartoon of a bull leaping through the air on a pogo stick, it’s probably…
Still stuck in the Middle Ages
“We have Stone Age emotions. We have medieval institutions.. And we have god-like technology.” – Edward O. Wilson. The BBC reported last week that…
Spoiler warning
Following Tim’s lead at The price of everything, we’re republishing this article from November 2011 … “I am certain that my fellow Americans expect that…
Hunting witches
“To the socialists of all parties (to whom F.A. Hayek dedicated ‘The Road to Serfdom’), ‘The Constitution of Liberty’ is anathema. Hayek, they believe,…
Weird scenes inside the gold mine
“The modern Keynesian state is broke, paralysed and mired in empty ritual incantations about stimulating ‘demand’, even as it fosters a mutant crony capitalism…
A Greek tragedy
“In money management what sells is illusion of certainty. The truth (i.e. we don’t know much) is a more difficult sale, but a better…