US strategic oil reserves have fallen to the lowest level since 1983. If the recent pace of drawdowns continues unchanged, the reserve would hit its “emergency floor” in about two to three months. The pace of drawdowns may be expected to slow, but it does indicate the unusual situation. How did this happen and what …
If your salary is anything above £39,039 a year, that places you in the top half of all full-time workers in Britain. In fact, a new Statesman survey states 60% of Britons earning £90,000 think they are about average. But just £100,000 a year would place you in the top 5% of all salaries. Of …
This week, the OBR warned that without policy change, the UK could be set for a steep rise in public sector debt. And this is after one of the fastest rises in public debt amongst developed economies. A rise in debt to 200% of GDP would not be unprecedented, global wars have caused previous spikes, …
Just today, I cancelled my ChatGPT subscription — I don’t need it anymore. I’m not alone. It’s not as good as Claude. Paid subscriptions to ChatGPT have plateaued because there is so much more competition. Now you may think: does it matter if OpenAI fails to generate income of $300bn? If a company fails, does …
Just a few months ago, oil prices were surging and there were forecasts it could get worse. But, defying forecasts of doom, oil prices are crashing to levels seen at the start of the war. The Economist predicted $150 oil, now they admit they were wrong. Yet, closing Hormuz was a bigger oil supply shock …
It’s not good for China, US or Europe If everything seems to be made in China these days, it’s probably because it is. China manufacturers roughly the same amount of goods as the US, Japan, and Germany combined. European consumers are currently benefitting from cheap solar panels, electric cars and electronics. But, it comes at …
By many metrics, US stock markets are overvalued. Nobody knows when the next crash will come, but history suggests when irrational exuberance pushes prices above fundamentals, a correction can suddenly happen. The question is if there is a stock market crash in 2026 or 2027, how would it affect you? A good question to ask …
The more we use AI, the more sceptical we are becoming. In 2025, there was excitement about AI, but that is now falling. In 2026, AI is more likely to make us angry and anxious. Yet, whether we like it or not, AI is becoming pervasive. Workers who don’t use AI are more likely to …