The decline in US GDP reported for the first quarter is not a big deal, and it is very possible that it will be reversed when the data is revised over the next two months. But it is the wrong direction. If Donald Trump envisions that we will surpass China and retake the leadership as the world’s dominant economy, we are so far going the wrong way.
Economics
Frédéric Lordon: The French Uprising
On Monday, 20 March, the homepages of the French national news sites were overcome with excitement as they reported on the vote of no-confidence in the government: tallying how deputies were likely to cast their […]
Economics
Reuters: German economic institutes cut 2023 GDP forecast on energy price surge
What a surprise. And the ECB wants to continue raising interest rates and the German goverment wants austerity. Add to this high inflation and low wage growth. Nothing new on the German front. Inflation well […]
Energy
Bloomberg: Bitcoin Mining Puts Pressure on Iran’s Power Grids
How we are losing the battle against climate change: speculative capitalism. Read here
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