Nicholas Wapshott

The case for keeping Bernanke

By Nicholas Wapshott
May 31, 2013

Whisper it abroad: The U.S. economy is on the mend. Most recent indicators suggest that, five years after the start of the Great Recession, the “L-shaped” recovery is finally heading north. The stock market is booming, and home prices are on the upswing. The rising price of houses makes people feel richer, and consumer confidence is on the mend. Private borrowing is up, and consumers are starting to spend again.

Selling the family silver

By Nicholas Wapshott
May 29, 2013

Detroit Industry, north wall, Diego Rivera, 1932-33, fresco. Detroit Institute of Arts

Lessons of the London butchers

By Nicholas Wapshott
May 23, 2013

The sickening scene from Britain of a blood-spattered man spouting Islamist hatred, who had just beheaded an off-duty British soldier in broad daylight, sends shivers down the spine. Is this the face of modern terrorism? If so, is no one safe anymore?

It’s not Watergate, it’s Whitewater

By Nicholas Wapshott
May 21, 2013

The trifecta of scandals — Benghazi, the IRS and snooping on journalists — that has broken upon the heads of the Obama administration is as bad as Watergate. No it isn’t, says Bob Woodward, whose reputation was made by doggedly pursuing the source of a burglary of the Democratic National Committee offices in the Watergate Hotel. No it isn’t, says Carl Bernstein, who shares the bragging rights for toppling President Richard Nixon. Oh yes it is, says Peggy Noonan, the Republicans’ mother superior, writing, “We are in the midst of the worst Washington scandal since Watergate.”

Austerity is a moral issue

By Nicholas Wapshott
May 17, 2013

Security worker opens the door of a government job center as people wait to enter in Marbella, Spain, December 2, 2011. REUTERS/Jon Nazca

Not in the spirit of Hayek

By Nicholas Wapshott
May 14, 2013

It has been a bad couple of weeks for conservative social scientists. First a doctoral student ran the numbers on the study by Harvard’s Carmen Reinhart and Kenneth Rogoff that underpins austerity and deep public spending cuts as a cure for the Great Recession and found it full of errors. Then a policy analyst, Jason Richwine, who angered Senate Republicans trying to pass immigration reform with a one-sided estimate of the cost of making undocumented workers citizens, was obliged to clear his desk at the Heritage Foundation when it became known his Harvard dissertation suggested Hispanics had lower intelligence than “the white native population.”

Benghazi and the Republican abandonment of the center

By Nicholas Wapshott
May 10, 2013

In World War Two, the Libyan port of Benghazi was hard fought over, changing hands five times between Erwin Rommel’s Afrika Korps and the Allied forces. Seventy years on, the city has again become the focus of a fierce battle, this time between Republicans and Democrats over the terrorist attack that killed Ambassador Christopher Stevens and three other Americans on Sept. 11, 2012.

The continued slur against Keynes

By Nicholas Wapshott
May 6, 2013

Harvard professor Niall Ferguson’s belief, caught on the hop, that John Maynard Keynes’s homosexuality and lack of children led to recklessness when it came to the effects of his economic theories is widespread among conservatives, though few are foolish enough to express it out loud. At a conference in California last week, the prolific contrarian Ferguson “asked the audience how many children Keynes had. He explained that Keynes had none because he was a homosexual and was married to a ballerina, with whom he likely talked of ‘poetry’ rather than procreated.” Keynes’s lack of children and grandchildren, Ferguson implied, is why he blithely proposed large-scale long-term debt.

Obama versus Congress on Guantanamo

By Nicholas Wapshott
May 3, 2013

A young girl holds a picture of Bobby Sands in a republican march to mark the 20th anniversary of the IRA hunger strike at the Maze prison in Northern Ireland May 27. REUTERS/Archive