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.
Climate Crisis
Bill Mitchell: Moving to a sustainable system of food production within a degrowth paradigm
André Gorz: “The profit-driven economy must be replaced by a decentralised, distributive economy. Only in integrated communities, “on a human scale”, can the adjustment of production to needs and of needs to resources – as […]
Economics
Ndongo Samba Sylla: Neoliberalism’s Colonial Origins
For those who have studied the history of colonial Africa through its fiscal and monetary dimensions, the similarities between colonial macroeconomics and neoliberal macroeconomics are striking. Read here
Globalisation
The Intercept: Tax Havens and Other Dirty Tricks Let U.S. Corporations Steal $180 Billion From the Rest of the World Every Year
Are tax havens an enraging but tangential subject? Or do they have a powerful effect on the how the U.S. economy functions, and should therefore be a part of every political debate? Read here
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