It's much more complicated than that, because it depends on the type of asset and also expectations. Without going into too much detail, you need to differentiate between financial and non-financial … (View Post)

We've had about a century of attempts to level up by spraying money at the Distressed Areas as they were known between the wars. And the Distressed Areas are still distressed. But, like all madmen, w… (View Post)

The idea that US levels of taxation are particularly low is something of a myth, or at any rate easily explicable. According to the IMF, in 2022 the US tax take was 33% of GDP. Ours was 39%. https://… (View Post)

Pretty standard south-east Asian I thought. Very closely related to Thai, but obviously different names for everything. But basically your standard rice/noodles with spiced meat and/or vegetables. Mo… (View Post)

I went to Burma about ten years ago. Some random memories if you're interested: - the huge British government building, well, complex, really, in a very pompous neoclassical style in the centre of Ra… (View Post)