Much of the world's trade is conducted in dollars. This fact is broadly connected with the idea that the USA is not a nation like other nations, but is somehow above the fray. It acts as world policeman and world banker. This is basically a result of
Read more…Credit
We are commonly told in economic text books that first there was barter, then there was money, then there was credit. In fact, it was credit that came first. There has always been credit. People have always done things for one another and give
Emmanuel Macron has just gained the French presidency. France had a stark choice in the last round of the election and the rest of Europe had to watch as their fate also hovered. If Le Pen had won it might well have been the end of the European Union
Read more…The Rich List has just come out, listing the richest 1000 people in the UK. To be on the list you need to be worth at least £110 million. Being a mere millionaire is nothing these days.
Money makes money. The top 20 are, together, worth just under £1
Read more…1. The G7 group reported a "successful meeting" at which they were unable to agree about anything. UK and US belligerence over Syria was not matched by other parties. US secretary of state is going to Moscow and "might get a meeting with Putin". Befo
Read more…"We miss you already" - these were the last words of the speech by Donald Tusk as he acknowledged receiving the UK's letter triggering withdrawal from the European Union.
So, the Brexit process is beginning. When, many years ago, my parents split up,
Read more…As I predicted a year ago, Turkey in now involved in a genuine invasion of northern Syria. The Syrian war has brought about a stepwise realignment that has more than local implications. The main opponents of the Turks are America's allies, the Kurds.
Read more…There is furor because the UK immigration authorities sent out about 100 letters to EU citizens telling them to leave the UK https://amp.theguardian.com/politics/2017/aug/23/home-office-apologises-for-letters-threatening-to-deport-eu-nationals
The me
Read more…President Trump has now finally made his "important statement" on policy in Afghanistan, basically admitting that he hasn't a clue what could possibly work. He does not really want to send more troops because it costs money and even when Obama put 10
Read more…What can we do in response to the terrors, violence and dangers that are all over the world these days?
Of course, there is a limit to what the individual person can do by personal power or genius. Even groups of people may have difficulty bringing a
Read more…I do find myself feeling very suspicious of the UK actions around the poisoning of Skripal. Of course, there is no way to know the truth of the matter, but it feels like a put up job. Methinks the lady doth protest too much. There seems to be no actu
Read more…A few years ago I predicted that Turkey would seek to occupy the Sunni parts of Syria. I am, therefore, interested to see what happens with the current Turkish incursion and capture of Afrin. When examining these international conflicts one has to av
Read more…Donald Trump's much publicised overseas trip is, so far, a bit of a washout. We have learnt that he is for peace and against terrorism - well, yes. On the other hand, we have also seen that he is pro-Israel and pro-Saud in a rather un-nuanced way tha
Read more…When I was a teenager and the Cold War was at its height we were constantly hearing about the "arms race" between Russia and the USA. This battle for technological supremacy was closely related to the "space race" and the shock in the West when Russi
Read more…Depending upon what happens in two weeks time, Yesterday could prove to have been a turning point in the history of Europe, even of the world. Yesterday, in an unexpected electoral stunt, Marine Le Pen seriously wrong-footed Emmanuel Macron by turnin
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For several months there has been a political issue live in the UK around what are called ‘impact assessments’. Obviously, with a decision as major as leaving the European Union it is vital that government assess what the consequences are likely to b
The USA is currently considering its budget for the next six months. The proposed plan increases spending on the military (already the highest in the world by a wide margin) and security and cuts spending on almost everything else. Less is going to b
Read more…Merkel made the comment of the G7 meeting that it was not the seven but the six and the one. This referred particularly to the split between the US and the rest over climate change but also reflected the general tenor of the meeting. I have long pred
Read more…- USA: Impeachment? The likelihood of Trump being impeached seems to be increasing. At the moment the storm is revolving around Flynn who is refusing to co-operate with the various enquiries for fear of self-incrimination which does not impart confi
Read more…In the news today, Donald Trump has gone back on what he previously said about China being a currency manipulator and also gone back on his comments about NATO being obsolete. Last week he changed his position on Syria. The "reset" toward detente wit
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