Putin has another gas shock for us: the deindustrialisation of Europe

“Putin knows exactly what he is doing. It targets electrical substations and step-up transformers that are difficult to replace,” said Professor Alan Riley, energy expert at the Atlantic Council and adviser for Ukraine. “He has a full view of every target because he has detailed plans dating back to the Soviet Union. This is an … Read more

The US recession is here, and central banks are still fighting the last war

Its Bull & Bear indicator is at zero, an age-old buy signal, but one that can be a double-edged sword at critical times. It was nil in August 2008 before the Lehman crisis, a terrible time to take the plunge. Mr Hartnett said the ratio of US financial assets to GDP reached a multiple of … Read more