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.
EU politics
France 24: French govt offers compromise to end transport strike
This does not sound like a declaration of a government that is winning the hearts and minds of its citizens. Read here
Austerity
Politico – Draghi orders Europe’s leaders: Do what I told you
Top technocrat demands all European governments bend to his technocratic will. Read the article HERE.
Economics
Daniel Margrain: Socialism for the rich
Taxes are there to take from the poor and give to the rich. Neo-liberalism is socialism turned on its head.”This situation is not only unjust, corrupt and undemocratic, it is unsustainable.” Read here
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