Should we be putting this on recording? Well, let's start. This is the fifth in our series, the Wolf Krugman Exchange. I'm Martin Wolf, chief economics commentator of the Financial Times. And I'm Paul Krugman, professor at the City University of New York and author of an independent Substack newsletter. And today's episode is being recorded on Monday, June 30th, uh, at 9 in the morning in Massachusetts, where I am now, and 2 p.m. in London. Um, tell us where you've been recently, Paul. Yeah. Um, um, occasio ...

Couple upset headache depressed from family cost got higher holding receipts from supermarket with ... More calculator by rising grocery prices and surging cost as an inflation financial crisis.gettyWill the new peace in the Middle East hold? What will happen when the “reciprocal tariff” deadline arrives on July 9?Truth is, no one knows. But we contrarians DO know this: Shaky times like these are tailor-made for us.Yes, the S&P 500 has been shrugging off all of this (stocks do climb a wall of worry, after a ...

In 1971, when I was a young clerk on the floor of the New York Stock Exchange, the United States ran out of money and defaulted on its debts. That's right, the US ran out of money. How.Well, back then, gold was the money used in transactions between countries. Paper money, like the dollar, was like checks in a checkbook in that it had no value other than it could be exchanged for gold, which was the real money. At the time, the United States was spending a lot more money than it was earning by writing a lot ...