Treasury Secretary Scott Bessent had a schizophrenic Thursday. Asked on CNBC why oil had jumped on the administration’s latest Iran threats, he professed bewilderment: “I’m not sure why oil has popped up on this.” In separate remarks the same day he went further — “We’ve got a spike in oil prices today that I don’t really understand” — and waved the move away as noise. Apparently he forgot that this was hours after he had announced that the United States would keep its naval blockade and impose what he called the toughest sanctions in history on Iran, adding, “This will work.” It was a day after Trump had promised the “MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY!“
Economics
Prime Economics: T Sabri Öncü – A War No One Can Win – Ukraine and the Weaponisation of Everything
The Russian invasion of Ukraine started on 24 February 2022. Since then, several thousand combatants from both sides and more than 500 Ukrainian civilians have died, bombs have ruined many cities, and more than two […]
Climate Crisis
Jason Hickel: Our best shot at cooling the planet might be right under our feet
Great idea. Unfortunately the problem is always the same: moneyed interests buy corrupt politicians, be it in the USA, EU, or elsewhere, who block these measures. Great ideas do not always change policy. Politics do. […]
Economics
Thomas Piketty: What is a fair pension system?
It is perhaps time to abandon the old idea according to which reduction of inequalities should be left to income tax, while the retirement schemes should content themselves with reproducing them. Read here
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