The lean, mean tax machine that is the Irish economy. Tamper with it at your peril. The US economy is not following the script. US petrol prices now lower than before the war started. And much more!
The Economist opines on sex
We start our latest podcast with a discussion of Ireland’s incredible tax generating machine. Irish fiscal performance is phenomenal. Another month of blow-out tax revenues - not just corporation tax either. And another month of official warnings that it cannot last - the end is nigh.
The US economy is confounding expectations - again. It’s refusing to slow as forecast. For now at least. The venerable Economist newspaper says a global recession is a certainty for 2023. They shouldn’t need reminding that nothing is certain.
Europe is not confounding expectations except for one key area. The economy is slowing. But natural gas consumption fell by 25% over the past couple of months. Nobody expected that, nor the surprising fact that EU industrial production is at - just - an all-time high. Companies have proved surprisingly resilient and have discovered the joys of efficiency savings.
Has the dollar turned? It certainly deserves to.
Joe Biden is turning into a remarkably effective President. The Green Tech revolution buried in the somewhat misnamed Inflation reduction Act has got Brussels all of a tizzy. Rather than crying foul about state subsidies, the EU should just get on and do the same. Like it or not, any successful drive to net zero is going to require a lot of government involvement.
What’s the logic behind the oil price cap? What are the ethics?
The BIS warns that more financial sector bailouts are on the cards.
And the Economist writes about the joys of sex.
'The trend is your friend' - ah yes, but, there's more - 'the trend is your friend, until the end, when it bends'!!