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The bubble signs are increasing. Indeed, we may even be past the peak. New free Substack piece philipcoggan.substack.com/p/more-bubbl...

More bubble signsLeverage, massive investment and rising debt costsphilipcoggan.substack.com

Back to The Times, which on p3 today criticises the BBC for a GCSE resource which claimed that "every person in Britain is descended from immigrants". This is literally true since the earliest humans came from Africa. If The Times has evidence of early hominids in Stevenage, they should publish it

"President Donald Trump has lowered US trend growth through erratic policymaking, institutional damage and cracking down on immigration. We forecast a drop in GDP growth from 1.9% this year to 1.6% in 2027 and 1.5% in 2028." Holger Schmieding, Berenberg.

Classic Gerry Baker column in The Times today. Europe's rejection of the FIFA plan is a sign of the continent's restricted vision, he says. Meanwhile, CONACAF (including the US FA) have also rejected the plan. A thesis disproved before the article even appeared.

Fun fact in this excellent piece from Richard Baldwin is that the UK is the second biggest exporter of "other business services" in the world. A rarely-mentioned success rbaldwin.substack.com/p/the-jobs-a...

The Jobs AI Was Supposed to Eliminate Are BoomingWill ChatGPT purge back-office offshoring? The data say ‘no.’.rbaldwin.substack.com

History may repeat itself but it's getting spooky. As in 1976, we are two years into a Labour government and have changed prime ministers, the chancellor is called Healey, we are in the middle of both a heat wave and a drought. May be a good time to start a punk band?

Yes! Kermit as Odysseus, Miss Piggy as Penelope, Cookie Monster as the Cyclops...

I an willing to help with the washing up but without using my hands. Or soap. Or water www.bbc.co.uk/news/article...

Kemi Badenoch tells PM not to raise taxes to fund social careIn a letter to the PM, the Conservative leader offers to work with him on adult social care reform.www.bbc.co.uk

This is the problem with interviewing such people, as previously shown by the interview with Steve Bannon. You just give a platform to someone whose bigoted views are already being widely communicated

The World Cup is over. Wimbledon is over. The Open golf is over. Now would be a great time for cricket to catch the nation's attention with some test matches. But instead we get the Hundred, where we are supposed to care whether the Biggleswade bank managers beat the Rotherham Rotarians

Alan Wolff of the Peterson Institute points out that the International Labour Organisation passed a protocol in 1930 with an update in 2014, requiring member states to take action to prevent forced labour. The US has not ratified either protocol www.piie.com/blogs/realti...

Trump's new tariffs over forced labor are unlikely to survive a court challengeThe Trump administration is again shifting its stated rationale for placing comprehensive tariffs on imports of nearly all goods from virtually all countries. After originally presenting such measures...www.piie.com

Worth pointing out that US prisoners produce around $11bn of goods and services annually with minimum rights and pay www.icpsr.umich.edu/sites/icpsr/...

Comprehensive report describes inhumane US prison labor system and how to improve itComprehensive report describes inhumane US prison labor system and how to improve itwww.icpsr.umich.edu

More tariffs from Trump today. We are asked to believe a)that Trump cares about forced labour (isn't that a woke issue?) and b)that if other nations rigorously policed their labour chains the US wouldn't find another reason to impose tariffs 1/n

Who is the real "establishment"? Thoughts on Farage, Trump and new wealth. Free Substack piece philipcoggan.substack.com/p/the-real-e...

The real establishmentPopulists claim to be outsiders. They usually aren'tphilipcoggan.substack.com

Andy Burnham definitely going back to the 1970s by appointing a man called Healey as chancellor

Argentina losing. Couldn't happen to a nicer bunch of lads

Repeated attacks but the defensive side refuses to give in. But enough of the US-Iran war: how is the football going?

Here's hoping they have booked John Cage for the show in the break between the two halves of extra time

This half-time break will almost be as long as the lunch break in cricket. I'd like to imagine the players are tucking into a Sunday roast in the changing room

England beat France at football last night and defeated India today at today cricket. A Kiwi won the Open (crucially not an American). All is going well. Now all set for tonight's final; as the noted philosopher Sylvia once remarked "Y Viva Espana"