What is the right level of interest rates? While discussion of 'R-star' might seem esoteric, they do say one important thing: Euro interest rates are way too high.

The Federal Reserve has achieved its price stability mandate and is now switching to focus on employment.

Growth is now front and centre of all European economic policy debate. Even - especially - in the UK. The new chancellor is going down exactly the wrong path if she sticks to her fiscal rules. Don't just listen to us - every economist in the world is now on the same page when it comes to investment and growth. The time has come to junk the old rules and embrace sensible risk taking.

The response to the Apple tax case has at times verged on hysteria. It would be funny if it wasn't so serious. Where are all the foreign multinationals going to go?

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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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Latest jobs numbers from the US point to a weakening economy. Interest rate cuts are on the way. The only question is, 'how big?'

European elites are warning that Europe could cease to exist in its current from unless radical remedial action is taken. Few politicians will lsiten. If they do, they won't act.

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Still drowning in cash, the new Finance Minister is warned by IFAC, yet again, not to spend it.

Are the fiscal giveaways of past budgets really costing each household €1000 a year?

Amidst all the cries of 'they are windfall taxes' it's forgotten that capital investment is - or should be - very different to current spending. We used to argue about borrowing for investment purposes - economists have always pointed that that borrowing for investment is perfectly ok, provided the return on that investment is higher than the cost.

Now, some seem to be arguing that spending money that we already have, windfall or otherwise, still shouldn't be spent, even on high return projects. There's crying wolf and then just being daft.

GDP data is all over the place and has defeated us. Exchequer returns and other data point to an economy still growing although not one that is overheating. Tax revenues are booming and unemployment is down again.

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Rather than put all the spare cash in a 'future proof' fund, should the Finance Minister simply recognise the future is here, right now?

Deviance has been normalised.

Bicycle sheds with golden roofs: a parable about quality versus quantity of government spending

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J D Vance has shot to prominence following his selection by Donald Trump to be, potentially, the next Vice President of the US.

In this podcast special, we focus on Vance's 2016 best-selling memoir, Hillbilly Elegy, to try and explain and understand the man who clearly wants, one day, to be the leader of the free world.

We are joined by Professor Shane O'Mara of Trinity College Dublin to discuss all things JDV. And there really is a lot to discuss! Shane is also a best-selling author (of much better books than JDV's memoir) and writes his own Substack called BrainPizza. Do check out any of his works, especially his most recent book, 'Talking Heads: The New Science of How Conversation Shapes Our Worlds'.

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