Remember all the commentary on the impending disaster of US federal government deficits? Which would force the cutting or closure of Medicare, Medicaid, Social Security and anything that helps low income or economically unlucky people? Well the US still has … Continued
I’ve written before about the threat to the major gas exporters, such as Russia, of the sudden increase in prospective world gas supply from unconventional (shale) gas, first in the US but soon in other countries. My argument is from … Continued
You might find it odd that any country wants to join the Eurozone, given the continued mess the world’s second biggest economy is in. While the markets have stopped pricing in a high risk of the extreme event of a … Continued
Timothy Taylor’s blog comments on the latest World Bank Africa’s Pulse report, which has some encouraging data and analysis about the African economy. Having for so long been the laggard region of the world economy, sub-Saharan Africa has sometimes seen a … Continued
Socrates, who according to Plato argued around 400BCE that “the unexamined life is not worth living,” might have expected those of us lucky enough to have escaped the restrictions of a subsistence economy (that is, a billion or two people) … Continued
The latest data on China’s foreign exchange reserves, showing a rise of $130 billion to $3.4 trillion, suggest that capital is flowing into China again after an apparent outflow ahead of the change of government in late 2012. There is also … Continued
The US magazine Foreign Policy recently ran an article titled “Hugo’s Banker” (meaning the late President Chavez of Venezuela) describing as the world’s most powerful banker Mr. Chen Yuan, the Chairman of China Development Bank (CDB). In what sense is … Continued
It’s uplifting to visit a city that has a rich and glorious past but also an exciting future. So many cities attract tourists to their historic sites and buildings, who leave with a slightly melancholy sense that the best has … Continued
I’ve written before about the remarkable speed at which non-conventional oil and gas, especially shale gas, are being discovered and (at least in the US) exploited. The effect of this on world energy markets is likely to be good for … Continued
Every country is unique but some are more unique than others. Japan, though quite obviously not located in the geographic western hemisphere, is part of “the west” as a group of rich democracies with advanced economies. Its inclusion is not … Continued
I’ve mentioned before the long running argument about whether The Wizard of Oz is in fact an allegory of the gold standard. Those who think it is point to the book having being written during the arguments about bimetallism (whether … Continued
The Financial Times reported yesterday that Germany was making an audit (*) of its gold holdings, much of which are abroad. The newspaper Suddeutsche apparentlu estimates that about 1,500 tonnes of the total 3,400 tonnes of German owned gold are … Continued
After the absurdity of awarding President Obama the Nobel Peace Prize before he had actually done anything, there were many laughs and jeers at the decision to award this year’s prize to the European Union. But there is a good … Continued
It is fifty years since the Cuban Missile Crisis of October 1962. Many people have said that this period marked the most important historical event of the twentieth century, namely that the USA and the USSR did NOT go to … Continued
I last visited South Africa in 1987, during the apartheid period. Since at that time there was a cultural and economic boycott of the country, I should explain to alarmed friends that I was there because I was working for … Continued