That is really rather a mess as we know it rallied into the 132s. Anyway this leads me to my first two thoughts. Number one is that inflation levels will fall as we head into 2023. But care is needed with that because as we stand that simply means that prices will rise more slowly rather than actually fall. Also in Europe a lot of the trend depends on government intervention in energy prices as any halt to that will push inflation back up again. Number two is that we start it with trends for the Japanese Yen look much better. The caveat here is that the carry is against you as short-term US bonds yield about 4% more so the moves are likely to be knee-jerk and patchy like we saw earlier this week.
Austerity
Bill Mitchell: The abdication of the Left – redux – Part 1
If you have not yet read Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World by Thomas Fazi and Bill Mitchell – a book one should definitely read – then here is a […]
Geopolitics
Jonathan Cook: In killing Nasrallah, Israel chose to open the gates of hell. We’ll all pay the price
The West, via Israel, is fomenting for Hezbollah and the Shia resistance their own ISIS moment. Moderates are once again losing the argument – because we lost it for them Read HERE
National Politics
Kyiv Independent – Ukrainian soldiers in Bakhmut: ‘Our troops are not being protected’
“During their brief visits to the nearby town of Kostiantynivka, Ukrainian infantrymen told the Kyiv Independent of unprepared, poorly-trained battalions being thrown into the front line meat grinder to survive as best they could with […]
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