One of the permanent problems in writing about financial matters is that the issues at stake seem so technical, so arcane. It’s hard for any ordinary reader to get interested in these things. Hard not to think, Why does any of this matter to me? The trouble is you probably thought the same about the […]

Most of the time, George Osborne, has the least enjoyable job in Britain. He’s got to squeeze taxpayers for more money, cut jobs and wages in the public sector, slash benefits… and his only reward will be that in five years time his government might not be bankrupt. The more rigorously he does his job, […]

It might not feel that way to you, but we’ve just lived through one of the greatest bull markets in history. Almost exactly three years ago, the S&P 500 stood at 683, a decline of more than half from its highs of 2007. It wasn’t hard to understand that decline. Wall Street was bust. General […]

Last month, gasoline prices hit their highest ever level for February — an eye-watering $4.69 per gallon in Manhattan. Predictably, since this is an election year, politicians vie to cast the blame onto others. Barack Obama is most obviously in the firing line: he’s been president for three years. Why the heck hasn’t he fixed […]

Don’t you love Europe? The way it messes with your head. The way really, really bad things somehow get blotted out in so much waffle, double-speak and spin, you start doubting your own instincts. Like, is it you or is it them? Take the bold European rescue of Greece. A broad-shouldered continent saving a country […]

A friend of mine recently bought an old property – an eighteenth century cottage with a towering inglenook fireplace. At some stage in the past, somebody had taken it into their head to block up the chimney. They clearly didn’t have any stone slabs large enough to fill the void, so they simply wedged what […]

Greece has been on the edge for a long time, but right now the first Eurozone domino is rocking and close to toppling. As The Guardian newspaper reports: Greek youth unemployment rate has now reached 48% … Union leaders have called a two-day strike starting tomorrow … Despite negotiating until nearly dawn, the coalition government […]

  ‘Inflation falls.’ That’s the headline countless British consumers have been longing to see. And inflation isn’t just falling: the Bank of England predicts that prices rises will be down as low as 1.7% some time later this year. If that’s true, it’ll be a blessed relief for countless consumers. Personally, though, I’m just about […]

Sometimes I despair of politicians. I assume that they’re so partisan, so greedy, so quick to favor their rich buddies, that no progress can ever be made., or maybe not cynical enough. Because sometimes one of their faults – partisanship – temporarily overwhelms all their others, but in a good way. There’s a wonderful example […]

Planet Ponzi is now on general release. It’s my best effort to document the appalling mess that governments and bankers have got us into. It’s available on sale in the UK and the US. I hope you buy a copy. Personally, I think we have to understand this stuff if we’re to have a chance […]