The Econoclasts The Starmer-Mandelson-Epstein scandal & Musk’s merger
19 snips
Feb 11, 2026 A fiery debate about whether mergers and buybacks are rigging markets or just market opinion. They use the SpaceX–xAI deal and past mega-mergers to probe how valuations get inflated. A sharp clash over a controversial ambassadorial appointment, ethical links to high-profile figures, and what that reveals about political strategy and leadership.
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Policy, Not Just Markets, Create Distortions
- Institutional and policy choices (tax rules, central bank actions) bias markets toward certain behaviours like buybacks.
- The problem is policy-driven, not solely a free-market malfunction.
Limit Central Bank Support For Markets
- Avoid relying on central bank interventions that prop up asset prices and deepen inequality.
- Keep monetary policy from consistently rescuing markets to prevent skewed incentives.
Mandelson’s Role In The US Trade Deal
- Wolfgang Munchau credits Peter Mandelson with securing a strong UK–US trade agreement and reopening diplomatic channels.
- He argues Mandelson had unique access to the US president that conventional diplomats lacked.