Articles

  • 3 weeks ago | yahoo.com | Jeremy Warner

    Who needs reality TV when there’s the psychodrama of Trump’s White House to keep us all entertained? As plot lines go, the falling out between Elon Musk and Donald Trump was perhaps about as predictable as they come, but the sheer venom, speed and combustibility of the divorce has nevertheless proved utterly captivating. Even the best of Hollywood scriptwriters would have struggled to do better. The stench of betrayal hangs heavy in the air, a veritable revenger’s tragedy of a drama.

  • 3 weeks ago | telegraph.co.uk | Jeremy Warner

    Musk has comprehensively failed on the first of these missions, and not surprisingly so. The sort of productivity-improving automation and digitalisation we see widely applied in the private sector to stay competitive is a marathon, not a sprint, and it requires precision in planning and execution. None of these characteristics were on display from the tech bros sent in to tackle the bloated size of the American state.

  • 3 weeks ago | telegraph.co.uk | Jeremy Warner

    Any further machinations merely prolong the agony, and are really only about salvaging at least something from the wreckage for current senior creditors, as well as lining the pockets of a veritable army of advisers and lawyers. Most of them deserve little sympathy, even if the original sin at Thames was committed by a generation of owners who have long since disappeared with their bags of swag.

  • 3 weeks ago | telegraph.co.uk | Jeremy Warner

    But as I say, it's not really about the UK. The real story is dollar weakness. The dollar has fallen 18pc against the pound since just before Donald Trump was elected president last November, and by 12pc against the euro. By the standards of currency markets, these are not off-the-scale movements. We've seen much bigger swings in the past. Less than three years ago, for instance, the pound was virtually at parity with the dollar following the debacle of the Liz Truss mini-Budget.

  • 3 weeks ago | telegraph.co.uk | Jeremy Warner

    What's more, so much time, effort and money had by then already been expended that it was considered too big a write off to be politically palatable. So on it went, but the main explanation for its mounting costs was already obvious. Planning restrictions, constantly changing specifications, outlandish environmental demands such as the notorious £100m "bat tunnel", were admittedly a part of it. Yet the contrast with HS1, which came in roughly on time and on budget, could scarcely have been greater.

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jeremy warner
jeremy warner @JeremyWarnerUK
7 Jun 25

Musk is right - the One Big Budget Bill Act is "a disgusting abomination", with America heading for the fiscal rocks. My take on the Musk/Trump standoff https://t.co/rgzNGrAbWW

jeremy warner
jeremy warner @JeremyWarnerUK
5 Jun 25

Uh oh. Fighting like rats in a sack https://t.co/NwoaF32GNh

jeremy warner
jeremy warner @JeremyWarnerUK
5 Jun 25

Aye, the skids are under her I fear. https://t.co/Lw3NANPk0h