The City

The next phase of the financial crisis has begun: currency crises

We think of currency crises as being related to pegged exchange rates, emerging markets and foreign currency-denominated debt – things that don’t apply to the…

The energy crisis is morphing into a currency, debt, industrial and commodity crisis

If you thought the inflation was bad, just wait. The consumer price spikes driven by our energy crisis could be eclipsed by a long list…

Only a financial crisis can save the stock market now

Have you been wondering how central banks will save us this time? With inflation closing in on double digits, how will they justify printing money…

How to turn an inflation crisis into a financial crisis

Yesterday we looked at why the government’s policies won’t resolve the energy and inflation crisis. Well, they could, but only by creating bigger problems elsewhere.…

How to turn an energy crisis into an economic crisis

Nothing is so bad that governments can’t make it worse. Yes, that is even true of the energy crisis. And governments are doing their very…

Governments haven’t learned a thing. Have you?

In case you haven’t noticed during our recent videos with Nigel Farage, there’s a picture hanging on the wall behind me. It’s a black and…

Governments and central banks are still causing inflation, not fighting it

Governments and central banks around the world have admitted to missing the boat on inflation. That is ironic given that they’re supposed to be the…

Financial markets render their verdict on Liz Truss

Well, we didn’t have to wait long. The pound slumped to its lowest level since 1984 on the new prime minister’s first day in office.…

Destruction by the dollar, not of the dollar

Yesterday we exposed the truth about the plunging pound. It’s actually bobbing about on the surface of its trade-weighted index – a measure of the…

As unsound as a pound

“Sound as a pound,” my friend used to say. I think he was referring to one of the Scottish ones, though. Which aren’t so sound…

Rishi Sunak the Revolutionary…?

What if lockdowns were a mistake? What if even politicians like Rishi Sunak knew they would be? What if they were silenced by unelected and…

How much longer will you put up with these crises?

The news is turning unusually sour. And that’s saying something, after the past two and a half years… It’s not just financial markets though. There’s…

Don’t join the Children’s [Climate] Crusade

[In January of 2021, I published a newsletter advising readers not to invest in the Green Bubble, or Grubble, as I called it. Climate change-related…

Goldilocks is dead. Long live the three bears.

When the economy is humming along just fine, in what they call a “Goldilocks economy” (i.e. not too hot, not too cold but just right),…

Welcome to the Crack-up Boom

The Crack-up Boom was originally known as “Katastrophenhausse” in German. That literally means “catastrophe-boom”. It’s a false surge in economic activity driven by people’s desperate…

“Fat tails” versus the BBC

Almost one year ago, I warned you about extreme events known as “fat tails”. And not just in financial markets. Today I want to renew…

The recession I ticked off in April is here

We’ve been warning of a recession in Fortune & Freedom for just under a year now. “And then came the recession,” I wrote to you…

Is the UK in a recession in 2022?

Economies don’t grow in straight lines. We have a business cycle of booms and busts. People used to refer to the busts as panics, until…

The beginning of the end for Ukraine?

Winter is coming and Europe is short on gas. How much longer will people put up with Russian sanctions? Nigel Farage and I suspect not…

The Merchants of Monetary Menace, Act 2: The Recession

For the past six months, they’ve given us a spiel about inflation. But that was only Act 1 of the Merchants of Monetary Menace. And…