That is really rather a mess as we know it rallied into the 132s. Anyway this leads me to my first two thoughts. Number one is that inflation levels will fall as we head into 2023. But care is needed with that because as we stand that simply means that prices will rise more slowly rather than actually fall. Also in Europe a lot of the trend depends on government intervention in energy prices as any halt to that will push inflation back up again. Number two is that we start it with trends for the Japanese Yen look much better. The caveat here is that the carry is against you as short-term US bonds yield about 4% more so the moves are likely to be knee-jerk and patchy like we saw earlier this week.
Economics
Bill Mitchell: Some thoughts on a five-year development plan for Timor-Leste
An interesting delve into developing a national economy along MMT lines Read Here
Climate Crisis
The Guardian – The unseen driver behind the migrant caravan: climate change
In Europe we shall have the same problem as people in Africa and the Near East are confronted with the devastation of climate change. Read here
Climate Crisis
Swissinfo.ch: Swiss CO2 law defeated at the ballot box
Switzerland’s strategy to abide by the Paris Agreement on Climate Change has hit a roadblock with a narrow majority of voters rejecting a law to curb greenhouse gases. The CO2 law was rejected on Sunday […]
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