Who says that trickle down does not work?. For almost two years progressive economist have been hammering away that although governments have debts, they also have assets. Translated, you may have a mortgage of 100,000 euros (Heavens above, you are in debt!), but a house worth 500,000 euros (actually not so bad). While in many instances, public debt cannot be compared to private debt, in this one instance you can. If the British government purchases the railways, it may have debt, but it also has the railways. It took a while, but Aditya Chakrabortty has always been the intellectual avant garde among journalists. Other journalists will follow – and this fact will eventually reach voters. Hopefully before the general elections.
Economics
Michael Pettis: 5 Smart Reasons to Tax Foreign Capital
A bipartisan bill that would create a trade-balancing exchange rate for the dollar also aims to reduce foreign purchases of certain U.S. assets. Read here
Climate Crisis
BBC: Eight million Australians urged to turn off lights
Australia’s energy minister has urged households in New South Wales – a state that includes the country’s biggest city Sydney – to switch off their lights in the face of an energy crisis. Read Here […]
Economics
Shaun Richards – ECB President Lagarde continues the rhetoric about higher interest-rates
The last week or so has seen a build up again of rhetoric from central bankers over more interest-rate increases. Over the weekend just gone, this was added to as you can see below. Read […]
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