That is really rather a mess as we know it rallied into the 132s. Anyway this leads me to my first two thoughts. Number one is that inflation levels will fall as we head into 2023. But care is needed with that because as we stand that simply means that prices will rise more slowly rather than actually fall. Also in Europe a lot of the trend depends on government intervention in energy prices as any halt to that will push inflation back up again. Number two is that we start it with trends for the Japanese Yen look much better. The caveat here is that the carry is against you as short-term US bonds yield about 4% more so the moves are likely to be knee-jerk and patchy like we saw earlier this week.
Austerity
Bill Mitchell: The Greek colony remains in depression
“If one ever needed reminding of the colony status of the once magnificent Greek nation you just have to consider that statement. The EU institutions consider it appropriate that democratically-elected governments in the EMU should […]
Finance
James Angelos and Jordan Dahl – Merz heads to Beijing as Germany Inc. reels from ‘China shock’
Merz is off on his first visit to China as Chancellor. Germany is no longer competitive with Chinese industry in key sectors. In ‘Politico’. Read the article HERE.
Climate Crisis
Bill Mitchell: The green growth paradigm has a long tradition – which has never been supportable
l usage. But that pathway is in my view incompatible with the capitalist logic. Read HERE
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