It is quite astonishing: Viktor Orbán’s heyday in Hungary began when, following the end of massive currency speculation (carry trades) that had massively overvalued the Hungarian forint, the forint plummeted and left many homeowners who had taken on debt in foreign currencies (Swiss francs or Japanese yen) due to low interest rates in enormous difficulty. Orban promised that the state would absorb a significant portion of the speculative losses – and won.
Austerity
Larry Elliot: Brexit: why the UK economy hasn’t led to buyer’s remorse
Are 51,9 % of Britains neo-fascist berks? Or did those who voted for Brexit have political and economics reasons for doing so? Remainers seem not to be posing this salient question: “Remain’s proponents have spent […]
Media
Nathan J. Robinson: Notes on a Nightmare #6: Against Newspapers
Depressing people with sad news without engaging them in political action is irresponsible. Read here
Finance
Prem Sikka: Billionaires are a threat to democracy
Taxation revenues are the basis of the modern state. Without them, it cannot perform its administrative and redistributive functions. Read here
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