The downward slide of the German economy continues. Production and incoming orders in German industry are still on course for recession in the first month of the third quarter. The latest sentiment indicators, such as the ifo index and the PMI markit, which were surveyed in August, point clearly downwards. So it can no longer be ruled out that the recession will continue even at a pace much faster than now.
Climate Crisis
Steve Keen – The appallingly bad neoclassical economics of climate change
Steve’s paper exposing the dreadful work on climate change done by William Nordhaus (and his band of like-simpleminded Neoclassical economists) has now been published by the journal Globalizations. The link is here: https://www.tandfonline.com/doi/full/10.1080/14747731.2020.1807856
Finance
Notayesmanseconomics’s Blog: The Italian banks and how they have contributed to a possible end to deposit protection
This is an interesting blog concerning the state of Italian banks and how their crisis could change EU banking. Read here
Economics
DeStatis – First Quarter 2022: Household real consumption per capita decreases in both euro area and EU
Here it comes, the great EU recession Read Here
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