The gunpowder that blew up Liz Truss is still there

In 2022 and 2023, vast losses in the bond market blew up US banks, UK pension funds and the UK government. 2024 has been quiet. But the losses are still there.

Gold knows what time it is

The real economy has developed something of an immunity to the stimulative effects of cheap money. Only stocks still move on a monetary pulse.

The Maldives are underwater after all… on their debt

In net zero, governments are embarking on the costliest project in the history of humanity. And from a position of dangerously high debt to begin with.