Russia is having a tough month. It began with a daring Ukrainian drone attack. It will probably end with Russia having suffered its millionth casualty in the war. That is a testament to Ukraine’s stubborn defence against a far stronger power. It also raises questions about how Russia is able to shrug off such staggering losses.

In other news, our intrepid correspondent attended the Reagan National Economic Forum in California on Friday. There he listened to Republican business leaders and think-tankers talk about tax cuts, deregulation and the perils of corporate wokery. But, he notes, there was an air of unreality at the forum, where participants refused to engage with the thorniest tradeoffs in Republican economic policy.