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Congress has been losing power for a hundred years

The storming of the US Capitol on January 6 was a real lowlight for Congress. At least during the sacking of Washington in the war of 1812, the White House burned alongside the Capitol. But on January 6, 2021 the head of the executive branch urged his followers to interfere with the operation of the legislative branch. The entire sequence ...

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New York gains from London’s pain

The latest scrap over London’s post-Brexit finance business has a clear winner. Britain and the European Union might have been hoping to fight over the juicy bone of derivatives trading, but a third dog is running off with the prize: New York. New trading limits between the UK and the continent have prompted a large chunk of this lucrative work ...

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Green stimulus is here. It just wasn’t planned

We have to wait a few weeks to see just how green President Joe Biden’s stimulus plan turns out to be. But we’re already in the middle of an unplanned green investment boom. It will end both badly and usefully. Energy of all varieties is a capital-intensive business, so the cost of that capital often makes or breaks a new ...

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