Ultimately, uncontrolled inflation will be followed by a recession

Inflation concerns us all as the value of money is being eroded by higher prices. To understand what is happening, let’s go right back to where money started. Herodotus’s Histories (4th century BC) tells us that the Lydians were the first people to use money and...

We face a very different economic picture for next 2 years

In the late 1970s, the US launched a monetary war on inflation which culminated in the early 1980s with US interest rates peaking at 22 per cent. The Federal Reserve chairman at the time, Paul Volker, had no qualms about destroying the country’s existing manufacturing...

Putin and Musk deploying different methods to achieve power

News this week has been dominated by two alpha males who deploy contrasting mechanics to gain power, seeing the world from entirely different angles. Vladimir Putin and Elon Musk might not be an obvious pairing. In many respects they are not. What they share is a...

State has completely lost control of the housing market

Two plumbers are sitting in my kitchen, drinking tea, shooting the breeze. They are out the door with work. The sites are buzzing and, according to the lads, there is any number of “small jobs”. But the price of materials is crippling everyone and, even if the client...

If the fuel runs out, what’s Ireland’s back-up plan?

Ireland has about five days’ diesel supply in Dublin Port. A few weeks ago, at the start of the war in Ukraine, this dipped to one day. The authorities scrambled to find more, and vital diesel arrived on the unusually named STI Clapham, a tanker from the UK that...