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”.
Austerity
Heiner Flassbeck and Friederike Spiecker – Corona, Politics, and the European Challenge
How deep will the crisis get? A lot depends on how countries will keep the economic machinery ticking over and combat those knee-jerk reactions to limit deficits, especially in Germany Heiner Flassbeck is an economist, […]
Fake News
Media Lens: The Mass-Media Memory Hole – Blair, Ukraine and Libya
A key function of state-corporate media is to keep the public pacified, ignorant and ill-equipped to disrupt establishment power. Read HERE
EU politics
Cian Prendiville: How Catherine Connolly Won Ireland’s Presidential Election
‘Catherine Connolly takes office as Ireland’s president today. Her left-wing insurgent campaign took the Irish political establishment by surprise, winning a record number of votes and proving the Left can still triumph even in a […]
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