When I lived in London in the early 1980s, I loved the fact that there were so many newspapers to choose from. I read the tabloid The Evening Standard for fun, The Times of London for the official view and the “court” (that’s royal, not legal) news, and the liberal-leaning Guardian so I could feel good about myself. 🙂 (The Independent didn’t exist yet.)
Thanks to the Internet, I’ve been reading the Guardian faithfully online ever since the invasion of Iraq.
The Daily Telegraph never was my cup of tea. Too bland, too middle of the road.
But my opinion of the Daily Telegraph has changed now that I’ve discovered the writing of the paper’s international business editor Ambrose Evans-Pritchard. Yes, his name is a mouthful, and is one that instantly brands him as a “toff,” a member of Britain’s privileged upper class.
Of course, I can’t possibly know if Evans-Pritchard goes around with his nose in the air. And I don’t really care, because he’s delivering first-rate coverage of the financial crisis. So, if you’re trying to figure out where the U.S. economy is headed, check out his blogs and articles.
I forget exactly how I found Evans-Pritchard. I think I was Googling “M3” to try and learn more about why the Fed stopped releasing this broad estimate of money supply back in 2005, and the Telegraph had a story.
I’ve been so busy reading about Britney and Brangelina that I didn’t notice the disappearance of M3. I didn’t learn about it until I attended the United Astrology Convention in Denver in May and heard the presentation of Manfred Zimmel.
The Austrian economist stunned the audience in Denver by predicting that the U.S. is heading toward a currency devaluation along the lines of what Germany experienced during the Weimar Republic. (See “The Dollar Is Toast.”)
Evans-Pritchard isn’t quite as pessimistic as Zimmel, but he is keenly aware of the risk that U.S. debt poses to the world financial system. And in case you haven’t heard, U.S. financial writers are in collusion to downplay the possibility of a run on the banks and are steering away from words like “crash.” This is the same kind of media self-censorship that got us into trouble in Iraq, I might add.