As we approach Budget 2025, we reflect on the usual leaked measures and suggest we are just children looking for the keys to the sweet shop. And yet so many of us say we want more houses, better health and high-quality schools. And then we elect politicians with a mandate to do none of those things.

Is democracy structurally incapable of delivering much needed change? Or is just a system that delivers blocking coalitions to parliaments everywhere that prevent anything serious from happening? Is democracy now just the culturally and economically complacent ensuring that things stay pretty much the same?

All this as the European economy sinks back into sullen economic mediocrity. At least interest rates will fall again in a few weeks and give house prices another much needed boost.

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A prominent ex central banker has suggested that Ireland should spend the money: it's time, he says, for 'Jam today'. That's our interpretation, at least, of his only slightly coded remarks.

Trumponomics: it's time to take them seriously, if not literally.

Another Chinese economic stimulus: bazooka or pea-shooter?

Your weekly reminder about the global nature of the housing crisis

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There is a building slowdown in global manufacturing that is starting to look serious. This is a Chinese problem that is fast becoming a major issue for Germany. That's one explanation for the rise of the right in Germany.

The new UK government is beginning to look like a bewildered bunch of not very good middle managers

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