The constant taking of the soft political option
“On October 15, the mark’s rate against the pound passed 18 milliards. On October 21, after the mark had moved in three days from…
This is going to end badly
“Our experts think that equity valuations now look attractive.” – From a Fidelity advertisement in the FT, 2 – 3 February 2013. You may…
Poor Tim Harford
“The world is moving step by step towards a de facto Gold Standard, without any meetings of G20 leaders to announce the idea or…
Goons versus gold
“When, more than 100 years ago, George Gilbert Williams, president of the famously conservative Chemical Bank, was asked for the secret of his success,…
How the West was lost
“Sir, I see Sir Mervyn King has signalled that he no longer believes that price stability should be the Bank of England’s primary objective….
Boom
“Giarre, a town in eastern Sicily, sits above the sea on the slopes of Mount Etna. It was once a collection point for the…
Think small
“Sir, John Maynard Keynes’ later career as an investor ended well but Gavyn Davies claims too much for his novelty and rarity (“Keynes would…
The greatest trick
“I believe in an America where millions of Americans believe in an America that’s the America millions of Americans believe in. That’s the America…
The Mess We’re In
“The genius of our ruling class is that it has kept a majority of the people from ever questioning the inequity of a system…
An Olympian hurdle
“SIR – I’m fairly sure that the problems associated with the Olympics will crop up in my home town: overcrowding, terrorist threats, traffic congestion…