How Wolf Hall came to the White House. New piece on the parallels between the courts of Henry VIII and Donald Trump.
philipcoggan.substack.com/p/how-wolf-h...
philipcoggan.substack.com/p/how-wolf-h...
How Wolf Hall came to the White House
The parallels between Henry VIII and Donald Trump
philipcoggan.substack.com
November 25, 2025 at 12:16 PM
How Wolf Hall came to the White House. New piece on the parallels between the courts of Henry VIII and Donald Trump.
philipcoggan.substack.com/p/how-wolf-h...
philipcoggan.substack.com/p/how-wolf-h...
Just came across (thanks to Paul Krugman's substack) this remarkable piece on the tendency for kidnappers to target owners for crypto www.nytimes.com/2025/11/17/b...
www.nytimes.com
November 24, 2025 at 3:39 PM
Just came across (thanks to Paul Krugman's substack) this remarkable piece on the tendency for kidnappers to target owners for crypto www.nytimes.com/2025/11/17/b...
Delighted to speak about "The Economic Consequences of Mr Trump" at the Cambridge Literary Festival last night in a session chaired by @willdunn.bsky.social
Thanks to all who turned out on a very wet evening
Thanks to all who turned out on a very wet evening
November 23, 2025 at 2:01 PM
Delighted to speak about "The Economic Consequences of Mr Trump" at the Cambridge Literary Festival last night in a session chaired by @willdunn.bsky.social
Thanks to all who turned out on a very wet evening
Thanks to all who turned out on a very wet evening
Reposted by Philip Coggan
This is extreme but still on the spectrum of 'natural' or 'physiological' birth which is still promoted by some as superior (and still causes harm). Much like vaccines, the success of modern maternity care has made people forget how common and potentially serious birth complications are.
Influencers made millions pushing ‘wild’ births – now the Free Birth Society is linked to baby deaths around the world
Influencers made millions pushing ‘wild’ births – now the Free Birth Society is linked to baby deaths around the world
A year-long investigation reveals how mothers lost children after being radicalised by uplifting podcast tales of births without midwives or doctors
As Esau Lopez was asphyxiated for the first 17 minutes of his life on Earth, the atmosphere in the room remained serene, even ecstatic. Acoustic music crooned from a speaker in a modest two-bedroom apartment in a suburb of Pennsylvania. “You are a queen,” murmured one of three friends in the room.
Only Esau’s mother, Gabrielle Lopez, felt something was wrong. She was pushing hard, but her son would not be born. “Can you help [him] out?” she asked, as Esau crowned. “Baby is coming,” the friend replied. Four minutes later, Lopez asked again, “Can you grab [him]?” Another friend murmured, “Baby is safe.” Six minutes passed. Again, Lopez asked, “Can you grab [him]?” Continue reading...
www.theguardian.com
November 22, 2025 at 11:57 AM
This is extreme but still on the spectrum of 'natural' or 'physiological' birth which is still promoted by some as superior (and still causes harm). Much like vaccines, the success of modern maternity care has made people forget how common and potentially serious birth complications are.
Great to have two books featured in the Economist's Christmas round-up. The Trump one will even fit in a stocking...
www.economist.com/culture/2025...
www.economist.com/culture/2025...
Books published by The Economist’s journalists in 2025
They covered land, war and the working class
www.economist.com
November 20, 2025 at 3:28 PM
Great to have two books featured in the Economist's Christmas round-up. The Trump one will even fit in a stocking...
www.economist.com/culture/2025...
www.economist.com/culture/2025...
Reposted by Philip Coggan
Montage of 19 clips of Trump insulting, berating, demeaning and attacking female reporters over the past few months. Part 1.
November 19, 2025 at 1:13 PM
Montage of 19 clips of Trump insulting, berating, demeaning and attacking female reporters over the past few months. Part 1.
The firing, or retirement, of bears is a classic sign of a market top. Other signs are also apparent. But one crucial factor remains supportive. New piece on substack
philipcoggan.substack.com/p/when-bears...
philipcoggan.substack.com/p/when-bears...
When bears give up
There are many factors pointing to the top of the market, but one crucial support remains
philipcoggan.substack.com
November 18, 2025 at 1:55 PM
The firing, or retirement, of bears is a classic sign of a market top. Other signs are also apparent. But one crucial factor remains supportive. New piece on substack
philipcoggan.substack.com/p/when-bears...
philipcoggan.substack.com/p/when-bears...
Fascinating, albeit dense, piece by Toby Nangle on a new trend in asset allocation among large funds. Would love to know whether these strategies would look quite so smart had we not just enjoyed a bull market in risky assets
www.ft.com/content/540b...
www.ft.com/content/540b...
The hot new investment trend is the ‘Total Portfolio Approach’. Does it work?
Exploring the buzzy but fuzzy new phenomenon in asset allocation
www.ft.com
November 17, 2025 at 3:01 PM
Fascinating, albeit dense, piece by Toby Nangle on a new trend in asset allocation among large funds. Would love to know whether these strategies would look quite so smart had we not just enjoyed a bull market in risky assets
www.ft.com/content/540b...
www.ft.com/content/540b...
Reposted by Philip Coggan
Yesterday Ukraine blew up the Novorossiysk oil refinery, which is still burning furiously. Today Russia has been forced to suspend all exports - 2.2 million barrels a day.
That sound you now hear is the Russian economy burning.
That sound you now hear is the Russian economy burning.
November 14, 2025 at 6:20 PM
Yesterday Ukraine blew up the Novorossiysk oil refinery, which is still burning furiously. Today Russia has been forced to suspend all exports - 2.2 million barrels a day.
That sound you now hear is the Russian economy burning.
That sound you now hear is the Russian economy burning.
From Boris Johnson and Nigel Farage: the gift that keeps on taking
November 14, 2025 at 4:31 PM
From Boris Johnson and Nigel Farage: the gift that keeps on taking
As an amateur economist, I'm very pleased to see this very positive review of "The Economic Consequences of Mr Trump" by the Society of Professional Economists
spe.org.uk/reading-room...
spe.org.uk/reading-room...
The Economic Consequences of Mr Trump | Book reviews | SPE
Leading financial journalist Philip Coggan lifts the lid on Trump
spe.org.uk
November 14, 2025 at 4:12 PM
As an amateur economist, I'm very pleased to see this very positive review of "The Economic Consequences of Mr Trump" by the Society of Professional Economists
spe.org.uk/reading-room...
spe.org.uk/reading-room...
Torsten Slok of Apollo notes that the median age of US homebuyers has risen from 39 in 2010 to 59 today
November 13, 2025 at 3:26 PM
Torsten Slok of Apollo notes that the median age of US homebuyers has risen from 39 in 2010 to 59 today
Reposted by Philip Coggan
🚨OpenAI’s new “safer” version of ChatGPT actually allows more harm.
We tested GPT-5 and GPT-4o to see if GPT-5 was safer & found that actually GPT-5 gave MORE harmful responses.
Read our new report ⤵️
https://bit.ly/3JgW9OP
We tested GPT-5 and GPT-4o to see if GPT-5 was safer & found that actually GPT-5 gave MORE harmful responses.
Read our new report ⤵️
https://bit.ly/3JgW9OP
November 12, 2025 at 7:45 PM
🚨OpenAI’s new “safer” version of ChatGPT actually allows more harm.
We tested GPT-5 and GPT-4o to see if GPT-5 was safer & found that actually GPT-5 gave MORE harmful responses.
Read our new report ⤵️
https://bit.ly/3JgW9OP
We tested GPT-5 and GPT-4o to see if GPT-5 was safer & found that actually GPT-5 gave MORE harmful responses.
Read our new report ⤵️
https://bit.ly/3JgW9OP
Reposted by Philip Coggan
Today's newsletter, featuring a perhaps unwise and overworked 'why Keir Starmer is like an oven' analogy:
Labour unrest hardens belief Starmer has to go
Party will find it easier to push for leadership challenge now it is in power compared with opposition
www.ft.com
November 13, 2025 at 10:11 AM
Today's newsletter, featuring a perhaps unwise and overworked 'why Keir Starmer is like an oven' analogy:
AI is the latest example of a market that can support itself; most didn't end well. New piece
philipcoggan.substack.com/p/the-market...
philipcoggan.substack.com/p/the-market...
The market that supports itself
AI is just the latest example of a boom that is sustained by positive sentiment
philipcoggan.substack.com
November 12, 2025 at 7:24 PM
AI is the latest example of a market that can support itself; most didn't end well. New piece
philipcoggan.substack.com/p/the-market...
philipcoggan.substack.com/p/the-market...
Reposted by Philip Coggan
Repeat: President Donald Trump on Sunday posted a fictitious headline claiming former President Barack Obama was previously collecting “royalties linked to Obamacare”—a claim that originated from a February post on a satirical news site called the “Dunning-Kruger Times.”
Grade A Fake News.
Grade A Fake News.
Trump Posts Fictitious Claim Obama Received ‘Royalties’ From Obamacare
The claim originated on a satirical news site called the “Dunning-Kruger Times.”
www.forbes.com
November 10, 2025 at 12:31 AM
Repeat: President Donald Trump on Sunday posted a fictitious headline claiming former President Barack Obama was previously collecting “royalties linked to Obamacare”—a claim that originated from a February post on a satirical news site called the “Dunning-Kruger Times.”
Grade A Fake News.
Grade A Fake News.
Reposted by Philip Coggan
photos of Trump sleeping through yesterday's Oval Office event via Andrew Harnik of Getty
November 7, 2025 at 4:38 PM
photos of Trump sleeping through yesterday's Oval Office event via Andrew Harnik of Getty
The case was sub judice
www.nytimes.com/2025/11/06/u...
www.nytimes.com/2025/11/06/u...
www.nytimes.com
November 6, 2025 at 9:18 PM
The case was sub judice
www.nytimes.com/2025/11/06/u...
www.nytimes.com/2025/11/06/u...
I am old enough to remember people telling me that "traditional valuation measures don't count" when applied to Japanese stocks in the late 1980s
Every day I look at my screen and think "that's it, that's the quote that sums up this mad era." And then the next day there's another one.
www.axios.com/2025/11/06/o...
www.axios.com/2025/11/06/o...
November 6, 2025 at 5:04 PM
I am old enough to remember people telling me that "traditional valuation measures don't count" when applied to Japanese stocks in the late 1980s
Reposted by Philip Coggan
Huge wins for the Democrats in state elections across the US last night.
Chaotic authoritarianism is not popular.
Chaotic authoritarianism is not popular.
A 15-point win for VA gov. A 5-point win for VA AG in a race he was expected to lose. A 13-point win for NJ gov, in a race that was expected to be close. An outright majority in NYC in a three-way race. A 30-point win for Prop 50 in CA. #BlueWave #Election2025
November 5, 2025 at 7:29 AM
Huge wins for the Democrats in state elections across the US last night.
Chaotic authoritarianism is not popular.
Chaotic authoritarianism is not popular.
The government won't address the deficit by cutting waste or only taxing the rich; new piece
philipcoggan.substack.com/p/tax-the-ri...
philipcoggan.substack.com/p/tax-the-ri...
Tax the rich/cut the waste: the false dichotomy
Cutting the deficit means painful cuts to spending programmes or higher taxes on ordinary people
philipcoggan.substack.com
November 4, 2025 at 6:31 PM
The government won't address the deficit by cutting waste or only taxing the rich; new piece
philipcoggan.substack.com/p/tax-the-ri...
philipcoggan.substack.com/p/tax-the-ri...
If Rachel Reeves does put 2p on income tax, that will push up the marginal tax rate on those earning over £100,000 to 64% (assuming she does not reduce the 2% NI levy on higher earnings)
November 4, 2025 at 6:30 PM
If Rachel Reeves does put 2p on income tax, that will push up the marginal tax rate on those earning over £100,000 to 64% (assuming she does not reduce the 2% NI levy on higher earnings)
Reposted by Philip Coggan
Border Patrol agent Lairmore testifies that he was not injured by the sandwich, but he felt the impact through his ballistic vest.
The sandwich came apart and "kind of exploded" on his chest upon impact, he says.
"I could smell the onions and mustard."
The sandwich came apart and "kind of exploded" on his chest upon impact, he says.
"I could smell the onions and mustard."
November 4, 2025 at 3:33 PM
Border Patrol agent Lairmore testifies that he was not injured by the sandwich, but he felt the impact through his ballistic vest.
The sandwich came apart and "kind of exploded" on his chest upon impact, he says.
"I could smell the onions and mustard."
The sandwich came apart and "kind of exploded" on his chest upon impact, he says.
"I could smell the onions and mustard."
Reposted by Philip Coggan
New gift link (previous one expired). Comments have been disabled, which demonstrates my point..
on.ft.com/47oS8kI
on.ft.com/47oS8kI
November 4, 2025 at 2:16 PM
New gift link (previous one expired). Comments have been disabled, which demonstrates my point..
on.ft.com/47oS8kI
on.ft.com/47oS8kI
Reposted by Philip Coggan
It's a testament to how much the Republican Party has changed that Dick Cheney's final vote was for the Democrats.
November 4, 2025 at 11:30 AM
It's a testament to how much the Republican Party has changed that Dick Cheney's final vote was for the Democrats.