In the Financial Times, Martin Wolf noted a few days ago that imbalances in international trade are back on the political agenda. Although Wolf reaches entirely reasonable conclusions regarding mercantilism, he nevertheless states that it is nonsense to claim that the US trade deficits can be eliminated solely through trade or exchange rate policy. He believes that this would “also require macroeconomic adjustments, in particular a reduction in the US public budget deficit, which the IMF forecasts at 7.5 per cent of GDP for 2026”.
Geopolitics
ABC News: Ukraine pulls US-provided Abrams tanks from the front lines over Russian drone threats
Another NATO Wunderwaffe bites the dust. Read HERE
EU politics
Kathimerini – Greece: The long-run demographic consequences of the economic crisis
The Greek crisis imposed by the Troika, but before all by Germany, has not only decimated the economy, but also the population, as Bob Traa explains in this article. A smaller population means a smaller economy, […]
Economics
DeStatis: Gross domestic product in the 3rd quarter of 2023 down 0.1% on the previous quarter
BRAVE NEW EUROPE cannot verify the statistics provided by DeStatis. DeStatis is not an independent body, but part of the German government Gross domestic product (GDP), 3rd quarter of 2023 -0.1% on the previous quarter […]
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