Irish inflation this week confirmed that the economy is showing few, if any, obvious signs of overheating. Prices are still going. up but at their slowest pace in a long while. That said, prices are 20% higher than we saw pre-pandemic.

Memo to economists: don't pretend you know what causes inflation.

European interest rates are still too high.

When does government debt matter? 100% of GDP? 300% of GDP? As always, it all depends! But the US is adding to its debt in a most reckless and unsustainable manner.

The Draghi report is worth reading at least twice. It is incredibly hard hitting. Europe's economy is falling far behind the US. His message to Euope's policymakers: do whatever it takes to catch up. Otherwise, the European project risks failure.

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In this podcast special Jim talks with Alex Denning, a 25 year old racing superstar.

The business of modern racing is all about money, contacts and driving talent - in that order.

Alex talks about doing exactly what his parents didn't want him to do. Making it with McLaren!

But it costs anything between 5-15 million to break into Formula 1. Sometimes more - your dad has to buy the car company!

Want. to lose weight? Forget about Ozempic - drive a McLaren very fast for lots of laps and you will be a lot slimmer.

Alex gives us a young person's perspective on life in Ireland. And on things UK, French and Italian (the French are rude and unwelcoming. Italian driving habits are very strange)

EVs are losing traction. Why?

And much more. Enjoy!

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To the surprise of many observers, Europe's top court has told Apple it must pay Ireland €13.1 billion in back taxes.

In a case that dates back to 2016, it's partly a history lesson about dodgy practices - the double Irish and all that. Those days are long gone.

But there is also an investment lesson here, one that is not just of historical interest. The outcome of the original investment was €14.8 billion became €13.1 billion, thanks to the original purchase of negative yielding government bonds. If the disputed taxes had been parked in Apple shares, the Irish government would today be in receipt of around €100 billion. Investment decisions are always massively consequential. Where to invest the €13.1 billion now?

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