Apple vs Obama

A few people who read my letter to Apple assumed for some reason that I’m an Apple hater – or indeed that I had foresworn Apple products entirely. They couldn’t be more wrong. I love Apple – always have and probably always will (though the affair is distinctly less romantic these days). As I made perfectly clear in my letter, I have had Apple products for years – since before … Continue Reading ››

Mario Draghi’s misleading fact about the euro crisis

When asked about the health of the euro area at his press conference earlier today, Mario Draghi trotted out an old canard often used by his predecessor as European Central Bank President, Jean-Claude Trichet. He said that while it was easy to talk down the euro's prospects, the fact remains that unlike the UK, US or many other economies around the world, the euro area doesn't have that much of … Continue Reading ››

The amazing stuff the Bank of England could have bought with its £375bn

Now that the Bank of England has called a halt on its quantitative easing programme, it might be worth stepping back for a moment and considering the momentousness of what the central bank has done over the past three years. In that period, an institution whose previous job was largely to determine the cost of borrowing through the country has carried out the most daring programme of balance sheet … Continue Reading ››