Seems there is a bit of ruckus on the stock markets of the largest capitalist country in the world, the one with deepest of all capital markets. Donald Trump has decided to lay waste to the globalised, market-based world trading order, and return to the protectionist state of affairs that served the nation so well
Fox News’s Brit Hume, one of America’s most respected political analysts, and a man more given to wry scepticism than to partisanship or hyperbole, described Donald Trump’s speech to Congress as: ‘the most boisterous, the longest, the most partisan speech I’ve heard a President give… to a joint session of congress… and I go back
Keir Starmer did almost everything right. He headed for lunch with the President, leaving the British Embassy’s Jaguars and Land Rovers in the garage. Instead, he relied on a made-in-America (probably) Chevy Suburban, presumably part of the Secret Service’s fleet of bullet-proof gas guzzlers. That might take Trump’s mind off the fact that the UK
This week, British Prime Minister Keir Starmer is heading to Washington to establish himself as a ‘bridge’ between the US and the EU, and to breathe new life into the Anglo-American Special Relationship. There is much to discuss between the historic allies. Starmer has announced that a ‘security guarantee’ from America is the only way
If you are still reeling from the shock and awe created by Donald Trump’s foreign policy since taking office, ‘You ain’t seen nothing yet,’ as Ronald Reagan once put it. Trump doesn’t just want to reset trading relations with every country in the world. He wants the world to change its foreign policies to suit
Because Americans love Britain, and because we are a presumptuous lot, we often advise the United Kingdom on its foreign policy. And not only the UK, but Europe. Successive US administrations have urged European nations to form a United States of Europe as an answer to the question attributed to Henry Kissinger: ‘Who do I
Because Americans love Britain, and because we are a presumptuous lot, we often advise the United Kingdom on its foreign policy. And not only the UK, but Europe. Successive US administrations have urged European nations to form a United States of Europe as an answer to the question attributed to Henry Kissinger: ‘Who do I
No one can fault the doctors: they are using every tool available to them to save their very ill patient. But they will probably fail in their efforts to save the euro in its current form. And this will be because the regimen they originally prescribed did more harm than good. Economists were almost unanimous
So we are to have a new industrial policy, this one courtesy of the coalition government and, more specifically, George Osborne and Philip Hammond, the Chancellor of the Exchequer and the Transport Secretary. Both are economically literate, professing faith in markets as allocators of resources; but they have found the lure of shaping the economy
He came, he saw and, to the surprise of many in Washington, David Cameron conquered. Those who have been exposed to his personal charm were less surprised. For them, the surprise — perhaps they should have known better than to be surprised —- came from his willingness to resort to evasion. Faced with a specific
It’s a dirty business. When you’re on top, everyone wants something from you; when you’re not, well, as Billie Holiday says, ‘God bless the child that’s got his own.’ It is a business of sharp elbows, few loyalties, and one in which winning is all that matters. That’s how Rod Serling describes the boxing racket
Alistair Darling’s budget forecasts assume that Britain can keep borrowing all it wants for the foreseeable future.We may not be so lucky, says Irwin Stelzer Federico Sturzenegger and Jeromin Zettelmeyer are not exactly household names. They are, respectively, professor at the Universidad Torcuato di Tella, and an adviser to the International Monetary Fund. Some months
Obama’s man in London needs to stop bashing Bush, immerse himself in domestic political discourse, and get out and meet some true Brits, says Irwin Stelzer ‘He is not even a diplomat,’ sniffed BBC News when Louis Susman took up his post as America’s ambassador to the Court of St James. An Obama Chicago crony,
It just might be that out of the shouting at Prime Minister’s Questions, the sallies and charges, a set of sensible fiscal and financial policies is emerging. The leader of the opposition is right: Labour is planning to cut capital spending in half in the next few years. The Prime Minister is also right: the
The next election will present voters with two distinct futures, says Irwin Stelzer: Labour’s rising taxes and love of the EU, or the Tories’ spending cuts and plans for the ‘broken society’ Where is the clear blue water? MPs in both the Labour and the Tory parties have engaged in behaviour that is illegal, or
Irwin Stelzer says the PM should seize the opportunity presented by this stay of execution: plot a path to fiscal sanity, cut red tape and restore Britain’s stature on the world stage Now that Gordon Brown is determined to go down with the Labour ship, or to sink it, if you believe his harshest critics,
The American model of lightly regulated capitalism may be in disrepute, says Irwin Stelzer. But the French President’s ambition is deluded French presidents/emperors are given to delusion. Napoleon thought he could conquer the Russian winter. Charles de Gaulle thought he heard voices anointing him the leader of the Free French, and later deluded himself into
Brown’s golden rules have been exposed as a sham, says Irwin Stelzer, but the Tory response has been feeble. Their target should be the PM’s feathering of Old Labour nests The good news is that Gordon Brown’s golden rules are no more. These rules did not stop the then chancellor from launching a spending binge.
‘I was born for this moment,’ Gordon Brown is said to have told a small group at a recent dinner party. The Prime Minister is too keen a student of history not to have known that he was parroting Winston Churchill’s famous remark on becoming Prime Minister in 1940, ‘I felt… that all my past
Gordon Brown’s critics are confused. For months they have been accusing him of dithering, of timidity, of being unable to make the bold moves that are needed if his government is to get a grip on the unfolding problems in the financial sector and, now, in the economy as a whole. Now that he has