We know that the US economy is currently weak, but the real economy is really weak, and the Federal Reserve’s commitment to precipitate a recession to curb high inflation will make this reality obvious to seemingly oblivious investors. Real gross domestic product dropped for two consecutive quarters, and although the National Bureau of Economic Research has yet to declare that ...

  A few months ago, when India restricted wheat exports following a heatwave, rumbles ran through the world’s food markets. Still, while India is a giant consumer of wheat, it’s not as big an exporter. The real fear was that New Delhi might cut off rice shipments as well: India is the world’s largest exporter by far. Fortunately, rice prices ...

As energy prices surge, UK politicians seem to be relying on Latin American literature for guidance. Like a novel by Nobel Prize winner Gabriel Garcia Marquez, officials have lost the ability to differentiate between substance and magical realism. But companies can’t afford to live in a fantasy land. Departing Prime Minister Boris Johnson is clearly a fan of the literary ...