In the decades ahead, we will see an open competition between the different economic models of the United States, the EU, Russia, India and China. Should any country’s model produce markedly superior results leading to notable economic success, that success would inevitably lead to political domination over its less successful rivals. All the models followed […]

The Nobel Prizes this year included two controversial selections: of the jihadist-praised South African jurist Navi Pillay and of two Bernankeist funny-money economists Robert E. Hall and Michael Woodford. Thereby, at a time when the forces of good economic and foreign policy are sadly beleaguered, the Nobel committees have given prestige, money and fame to […]

British prime minister Andy Burnham has announced his intention to negotiate Britain’s return into the European Union. With today’s EU, this is an economically suicidal idea. Both Britain and the EU are suffering economic decline that may well be terminal and irreversible; the EU’s bureaucracy would simply allow it to loot Britain further, suppress any […]

The AI-chip giant Nvidia (Nasdaq:NVDA) announced this week that it was launching the biggest share buyback in U.S. history, at $150 billion, taking its authorized buybacks to $235 billion by January 2028. Since NVDA has the world’s highest market capitalization at over $5 trillion and is up over 1,200% in the last three years, it […]

As his past speeches have shown, Fed Chairman Kevin Warsh knows well that the Fed monetary policy follies of 2009-22, with their money printing and artificially low interest rates, have left the U.S. with a huge overhang of overinflated stocks, dodgy debt and tottering real estate. He must thus burst this gigantic bubble, while avoiding […]

Elon Musk has now joined Dario Amodei of Anthropic and Sam Altman of OpenAI in demanding that government mandate a slowdown in the development of artificial intelligence. The three largest players in a growth industry demanding government regulation forms an infallible indicator of a potential cartel, in which new and smaller players in the industry […]

The AfD’s election win in Saxony-Anhalt on September 6 has shocked Germany and the world, but it should not have done so, being a direct result of the delusional policies of the last three decades. After the Wall fell in 1989-91, liberal pundits proclaimed the “End of History,” pronounced that international trade barriers would fall, […]

Consultant usage by large corporations and governments has exploded since the 1970s. In both types of organization, tough decisions are outsourced to consultants so their victims can blame the consultants rather than management or bureaucrats. Consultants are also used to implement ever more complex IT systems, their natural incentive being to stretch implementation projects for […]

For nine years from 2006 to 2015, Canada was better managed than the United States. Its prime minister Stephen Harper, if too diffident and compromising for my taste, was notably more intelligent and economically capable than either U.S. President of the period, George W. Bush or Barack Obama. Its GDP growth matched that in the […]

The decade of ultra-low-interest-rate Bernankeism in the 2010s, which produced ziggurats of misguided investment, has left a huge amount of overhang in the worldwide debt markets, which must at some stage deflate and be written off. Big-city real estate and tech stocks form a large part of this overhang. However, the largest element, most dangerous […]