However, let’s assume that an agreement is reached on Friday and that oil and LNG tankers are allowed to exit the Gulf via the Strait of Hormuz. Even if a deal is struck, it will be months, possibly years, before the Gulf arabs return to normal because of the damage to the equipment that pumps and stores oil.
Economics
Stephanie Kelton: Modern Monetary Theory Is Not a Recipe for Doom
There are no inherent tradeoffs between fiscal and monetary policy. Read here
Economics
Bill Mitchell: The Meseberg Declaration – don’t hold your breath waiting
The EU as we know it: Much ado about nothing. Read here
EU politics
Le Monde Diplomatique – In Chile, the traditional parties collapse
There was too little reporting and analysis of the elections in Chile this week. Here a good piece by Franck Gaudichaud Read here
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