Expanding the Legacy
An Old Financial Instrument Gains New Currency
When trouble arises, throwing money at it usually works wonderfully well. The problem is, of course, that the number of troubles invariably exceeds the volume of ready cash available. During the Corona Pandemic, Spanish Prime Minister Pedro Sánchez made a surprise suggestion to revisit an old and almost forgotten financial instrument - the ‘consol’ (consolidated stock or consolidated annuities). A consol is equivalent to a perpetual bond. By definition, consols are not redeemable unless the issuer agrees; they merely pay interest and do so perpetually.
Trump’s Wonderful Week Marks EU Misery
Whilst former US president Donald Trump – need we remind all and sundry that the man is a convicted felon? – had an excellent week, Europe suffered a funk of sorts as the likelihood of a Trump 2.0 administration seemed all but inevitable. Undoubtedly, Trump supporters, fans, and idolisers enjoyed...
The Art and Science of Unscrambling Eggs
How to unscramble eggs. That is the question (and task) facing UK Prime Minister Keith Starmer as he meets his country’s neighbours tomorrow for a one-day summit of European leaders. The informal gathering in Blenheim, birthplace of Winston Churchill, takes place under the aegis of the European Political Community (EPC), an initiative launched by President Emanuel Macron of France in 2022, following the Russian invasion of Ukraine. More than fifty heads of state and governments are expected to attend.
Micro States Struggle for Survival in Multipolar World
In a dog-eat-dog world, small states are often seen as mere appetisers. Even mid-sized ones, such as Ukraine, may feature on the menu of larger neighbours. Armen Sarkissian, a former prime minister and president of Armenia and a theoretical physicist of considerable standing, has a vested interest in the well being of smaller countries. He argues that nations such as his own have been treated as ‘disposable’ throughout much of history or, at best, as an appendix to larger sovereign entities in the vicinity.
Nvidia Share Price Headed to $20K Hazards Top Bull
Mr Anderson ventures that Nvidia could well attain a market cap of $50 trillion in a decade. Though admitting that his forecast is on the optimistic side, Mr Anderson does present some numbers to back up his claim.
Brave New World 2.0
Brave New World is a series of shorter articles – mini-essays often slightly contrarian – that was started in the aftermath of the Corona Pandemic as the world tried to make sense of what just happened and adjust to a new normal. Whilst the effects of the pandemic have since...
Shakespearean Politics: A Mad King, Court Jesters, and Dark Forces
As a rule, nations outlive their leaders. Ask the King of Denmark. Nations learn to move on (‘it outlives me when I’m gone’)*. So too will the United States, although the country may no longer be recognisable as a beacon of freedom, the arsenal of democracy, or, indeed, a place where ‘huddled masses’ may find refuge and opportunity.
AI Gunning for the Corner Office
MBA graduates are usually highly valued for their ability to analyse and comprehend a vast universe of business scenarios, discern trends, trace the shortest route to success, unearth synergies, and/or map under-explored areas ready for exploitation. However, there is quite literally nothing in this that cannot be done by artificial intelligence - and probably be done better and cheaper.
UN Marginalised, NATO Facing Change
Whilst Donald Trump is often portrayed as unhinged and simple-minded, including on this forum; he does possess a surprisingly clear vision of America’s place and role in the world. It is a vision - or perhaps an instinct - that resonates with a great many American voters who agree with Mr Trump that the US should stay out of world affairs, discard geopolitical considerations, and concentrate on furthering its own interests, rather than those of longtime allies.
On Collective Wisdom and Individual Ignorance & Vice Versa
In this era of electoral upheaval, with Donald Trump and the European hard right rattling the gates of power, it is perhaps a propitious moment to rescue the American satirist and cultural icon HL Mencken from obscurity. Henry Louis Mencken (1880-1956) was an admirer of the German philosopher Friedrich Nietzsche (‘I Am Dynamite’) and as outspoken, if not more so, than the polemicist he idolized.
