The City

Margaret Thatcher would be rolling over laughing in her grave

It may be 2023. But which Fortune & Freedom article from 2022 will prove to be the most prescient for investors over the coming year?…

The political cult and its consequences

2022 was a rough year for the political cult leading our country. We saw incredible shifts in our society, belief systems, the “facts”, and what’s…

Santa Claus, the Tooth Fairy and good government

People like to cite the rule of law as a crucial institution for civilisation. Often while j-walking or driving over the speed limit. In truth,…

The Bank of England’s double play – inflation AND a recession

There’s an almighty debate online about whether two batsmen can get out on a single delivery. But in baseball, this is called a double play.…

How the new Cold War solved global warming

We continue our 2022 highlights coverage of Fortune & Freedom with a truly heart-warming story from 7 November of how Vladimir Putin solved the problem…

Who will bail out the bail-outers’ bail-outers?

For more than a decade now, central banks have been the rescuer of last resort. Before that, governments did the bailing out. But they got…

Our monetary Pearl Harbor has already happened

The crashing Japanese yen was one of the most important yet underappreciated stories of 2022. It gave us a glimpse of our own future. And…

“You want to print this one off and staple it to Jeremy Hunt's forehead”

I used to get lots of hate mail from readers. Until we teamed up with Nigel Farage, ironically enough. I suppose he has the effect…

Central banks are playing Whack-A-Mole with the global economy

The more responsibility governments and central banks take on, the more their mistakes are exposed. And the last three years have featured quite a bit…

Why the Asoh Defence does not apply to central bankers and inflation

Central bankers have been prosecuted in the press lately. Prevailing rates of inflation are multiples higher than their targets. And so they have turned to…

The trillion-dollar “green grid” bubble

[Note from Nick: Today’s Fortune & Freedom comes from February 2008, when guest editor Michael Orme gave some sage advice about the ESG craze of…

Is Jackson Hole an imperial nudist colony for central bankers?

What if central bankers haven’t got the foggiest idea what they’re doing? They clearly dominate financial markets right now. And have been doing so for…

The banks are not safer than in 2007

“Why did nobody see it coming?” the late Queen asked about the 2008 financial crisis. The answer is, of course, that many people did see…

Awkward inflation truths you should be very worried about

There is just a quick note from me for today. That’s because I want to focus on something very specific and awkward about inflation. And…

“It’s the money, stupid!”

Today, I am reproducing – verbatim – a recent piece from my colleague John Butler. John is currently the Editor of The Fleet Street Letter…

Never forget that inflation is a deliberate policy tool, not a mistake

Not so long ago, central bankers would’ve given their right arm for a bit of inflation. Now they risk losing their jobs for having caused…

Inflation, austerity and recession is a dangerous combination

Another week, another green energy bust. But does anyone see the trend? Nigel Farage does. And that’s not the only déjà vu. George Osbourne and…

It’s too late. We’re addicted to ever more debt.

For many decades, people have warned about the impossible trajectory of government debt. And, with bond markets around the world wobbling, not to mention the…

Welcome to the latest crypto wake

Another month, another crypto catastrophe. But after so many bitcoin obituaries over the years, what do the latest ones really mean? And do you remember…

Is Russia really worse than climate change?

Good news, everyone. Vladimir Putin has single-handedly solved the problem of climate change. How? By invading Ukraine. To understand, let me take you back in…