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.
Economics
DeStatis – Germany: Inflation increase to +7.9% expected in August 2022
Consumer price index, August 2022+7.9% on the same month a year earlier (provisional)+0.3% on the previous month (provisional) Read Here
EU politics
politics.co.uk: Everything you need to know about Lexit in five minutes
Brexit is seen by most as a project of the right. There is also a well grounded criticism of the EU from the left called Lexit. This simple explanation will help to understand the left’s […]
Economics
Bill Mitchell: The divide between mainstream macro and MMT is irreconcilable – Part 1
It is noticeable that the economic mainstream is becoming increasingly uncomfortable by the increased interest in Modern Monetary Theory. Bill Mitchell is right. There appears to be an effort to co-opt Modern Monetary Theory under […]
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