An unpopular, costly war; a sliding dollar; high levels of US government debt; behind us, 20 years of growth; oil and commodity prices out of control… Remember the first oil shock of 1973? Or are we looking at 2008? Just as 1973 was the harbinger of a new political epoch — of individualism ascendant over
Matthew Lynn wonders whether the world’s greatest investor will be able to pick winners in continental Europe the way he has for more than four decades in the US If Warren Buffett had not become famous as the world’s richest man — a career choice that trumps most alternatives — he could still have carved
The Financial Services Authority has had only two chairmen since its creation in 1997, and as the Northern Rock debacle happened on the watch of the second incumbent, Sir Callum McCarthy, the model for his replacement is inevitably the original holder, Sir Howard Davies. On that basis, Adair Turner — Lord Turner of Ecchinswell —
Hard to remember an occasion when an author has aroused such unanimous distaste as Cherie Blair’s revelation that the birth of her son Leo was due to her unwillingness to take her contraceptive kit to Balmoral, where the royal butler would unpack her suitcase and see it. ‘Ugh!’ or ‘Oh dear!’ were the universal responses;
Life has taught me very little, but one thing I have learned is that the only employee of local councils with a genuine vocation is the rat-catcher. He always loves his rats, eliminating them with the deepest respect, and is extremely knowledgeable and interesting about their habits — which are, indeed, very interesting. The last
Minsk is not a mecca for entrepreneurs or foreign investors, but it seems that the perpetual leader of Belarus, Aleksander Lukashenko, has decided to change that. The kolkhoz (collective farms) are not about to be broken up, and nor is the KGB ready to give up its paternalistic interest in business. But Lukashenko, Europe’s answer
When Labour ministers say ‘we’re listening’, this is what they really mean — and it’s frightening Last week the Labour government revealed its plans to create a national cyber-database to hold details of every phone call, text, email and visit to the internet, as part of its plan to fight terrorism and crime. Internet service
On the road to Agra, travelling to see the Taj Mahal, we found ourselves passing a seemingly endless convoy of trucks. Well, not so much a convoy as a convention, since the trucks were stationary. Miles and miles of motionless juggernauts, their drivers smoking biddies or drinking chai on the roadside. I turned to my
I’m going to start with a declaration of interest. I own a four-bedroom house in Cambridgeshire, in which I have been living for the past nine years. I own no other property, either in Britain or abroad. I feel obliged to say this because increasingly when I read headlines such as ‘Doom and gloom as
Theodore Dalrymple delivers a Global Warning It is when you see the English enjoying themselves that you realise the futility of life. Perhaps I should say trying to enjoy themselves: for in the attempt, rarely successful, they turn either glum or public nuisance. The occasion of these melancholy reflections was a rainy weekend in Torquay,
I sympathise with those mediaeval Jewish rabbis who, asked to describe heaven, pictured it as a perfect library. For them books were, or ought to be, inseparable from holiness. The words themselves, even the ink, had divine attributes. One 11th-century rabbi said that the works already present welcomed or rejected newcomers. They sensed whether new
Neil Collins says the rights issues recently announced by RBS, Bradford & Bingley and HBOS are a sign of desperation — and their terms are an insult to loyal shareholders Within the next few days, half a million savers with the former Halifax Building Society will receive a fat, bewildering and highly complex document. It
These days, Vesco the fugitive fraudster would have had a top job on Wall Street So farewell, Robert Vesco, the fraudster, drug trafficker and fugitive from US justice whose death last year has been ‘confirmed by Cuban burial records’, according to the Daily Telegraph. Vesco absconded with $200 million of other people’s money — $60
When I was a child of four or five my big sisters told me edifying stories about the rise of the British empire, which then occupied a quarter of the earth’s surface. A favourite villain was Tippoo Sahib, Sultan of Mysore, a ‘little monster’ who was son of a ‘big monster’, Hyder Ali. Tippoo was
I realised that the town was a true community as soon as I heard a rumour that an old lady, a herbalist, had poisoned one of her neighbours. That is what community means: caring enough to poison people. In cities, contact with neighbours is so fleeting and impersonal that antagonism can be expressed only with
David Crow says personal animosities played a major part in the failed merger of Microsoft and Yahoo — to the benefit of their most potent online competitor When Microsoft made its unsolicited $44 billion bid for Yahoo in February, a match looked distinctly possible. Like Beatrice and Benedict in Much Ado About Nothing, it seemed
Clear blue skies and shiny shopping malls, but Mao’s corpulent corpse still presides I went to visit Mao Tse-tung the other day. The embalmed body of the Father of communist China lies in a mausoleum in Beijing’s Tiananmen Square. There he rests in his trademark grey suit — the same grey as Beijing’s toxic 21st-century
Are there too many biographies? Thomas Carlyle thought so 150 years ago. ‘What is the use of it?’ he wrote growlingly. ‘Sticking like a woodlouse to an old bedpost and boring one more hole in it?’ He was then engaged in his 13-year task of writing the life of Frederick the Great, and spoke from
The writer Trigorin, in Chekhov’s The Seagull, always carried a notebook with him in which he jotted down ideas or snatches of conversation that interested him and that might have proved useful to him in the future. I have tried to develop the Trigorin habit myself, but unfortunately I have often forgotten to take my
Matthew Lynn says hedge-fund pioneer and currency speculator George Soros is still a brilliant player of markets — but as a philosopher, frankly, he’s incomprehensible If nothing else, three decades as one of the world’s most successful speculators has taught George Soros how to pitch a book. While the main title of his latest work,