Prince Michael of Liechtenstein

  A few weeks ago, the United States and Iran signed a memorandum of understanding, but there was little reason to expect it would produce a lasting solution. The agreement satisfied neither side. As noted three weeks ago, launching Operation Epic Fury was the right decision, but ending it prematurely could prove a fatal blunder. […]

  Global debt reached alarming new heights in 2025. Worldwide debt – public, corporate and household – increased by nearly $29 trillion to approximately $350 trillion, bringing the global debt-to-GDP ratio above 300 percent. Nearly two-thirds of that increase came from advanced economies, driven primarily by government deficit spending. The trend has worsened in 2026. At the […]

  The NATO summit in Ankara, Turkiye, on July 7-8, 2026, did not deliver many surprises, but it produced some satisfactory results for the future of the alliance. The North Atlantic Alliance, established during the Cold War, was designed to contain Soviet aggression. After the Soviet Union collapsed, many believed the alliance had outlived its […]

  Inflation does not befall us like a curse, nor does it descend on us as tragic fate. It is always the result of reckless, and sometimes criminal, policy. These words were spoken by Ludwig Erhard, the visionary German minister of economics who laid the foundations for West Germany’s Wirtschaftswunder (“economic miracle”) in the 1950s and 1960s. Today, […]

  A memorandum of understanding was signed between the United States and the regime in Iran on June 18. The 14-point ceasefire foresees the reopening of the Strait of Hormuz, the ending of the blockade of maritime transport to and from Iranian ports, the halting of the nuclear program and the release of some sanctioned […]