Tel Aviv thought the Islamic Republic would collapse with some strike operations, targeted assassinations, and car bombs. Instead, the Israelis are getting a historic battering as Iranians rally fiercely behind their government and armed forces.
Climate Crisis
Climate Home News: EU Commission defends 2030 climate target against ‘accounting trick’ critique
The EU’s Climate Plan and Green Deal: the political equivalent of Wirecard Read here
Austerity
Bill Mitchell: We can do something about neoliberalism
Bill Mitchell covers three topics rather succinctly in this blog: Democratic deficit in the EU, Greece and its newest catastrophic deal with Germany/EU, and the surprise Democrat primary results in New York yesterday. Read here
Economics
Reuters: China’s economy cools sharply in April as lockdowns bite
April industrial output -2.9% y/y vs f’cast +0.4% April retail sales -11.1% y/y vs f’cast -6.1% Nationwide jobless rate highest since Feb 2020 Jan-April fixed asset investment +6.8% y/y, vs f’cast +7.0% Read Here
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