In the Financial Times, Martin Wolf noted a few days ago that imbalances in international trade are back on the political agenda. Although Wolf reaches entirely reasonable conclusions regarding mercantilism, he nevertheless states that it is nonsense to claim that the US trade deficits can be eliminated solely through trade or exchange rate policy. He believes that this would “also require macroeconomic adjustments, in particular a reduction in the US public budget deficit, which the IMF forecasts at 7.5 per cent of GDP for 2026”.
Geopolitics
International Court of Justice: South Africa submitted an “urgent request for additional measures under Article 75 (1)” of the Rules of Court in connection with the “developing circumstances in Rafah”
Israel has not reduced its genocidal mania, instead increasing it. But why stop when you have friends like the US and EU? Read HERE
EU politics
Thomas Meaney: Normcore (on Jürgen Habermas)
The funeral cortège for Jürgen Habermas was carried out, appropriately enough, in what still passes for the German public sphere – the national newspapers where he first made his name, more than 70 years ago. […]
EU politics
Heiner Flassbeck – Germany in the Autumn
Sorry, but this one slipped past. It should have appeared on BRAVE NEW EUROPE on October 2nd, the German Day of Reunification. Heiner Flassbeck is an economist, as well as publisher and Editor of “Makroskop” […]
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