Inflation
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Trump’s slump
Today, President Donald Trump implemented his new range of tariffs on US imports called reciprocal tariffs. In addition to those announced last Wednesday (Liberation day), Trump included an extra levy on Chinese imports in retaliation to China’s decision to impose a 34% tariff on US imports, which in turn was a retaliation against Trump’s 34%… Continue reading
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Global Planned Financial Tsunami Has Just Begun
Since the creation of the US Federal Reserve over a century ago, every major financial market collapse has been deliberately triggered for political motives by the central bank. The situation is no different today, as clearly the US Fed is acting with its interest rate weapon to crash what is the greatest speculative financial bubble… Continue reading
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Energy: the recession trigger?
There is confusion among mainstream economists and policy-makers on whether the major economies are heading for a recession, or are already in a recession; or will avoid one altogether. The majority view, at least in the US, is the latter. This optimistic view argues that, while inflation rates are high, they will start to fall… Continue reading
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A tightening world
It’s been a big week for the major central banks. First, the European Central Bank (ECB) called an emergency meeting because government bond yields were rising sharply in the more indebted Eurozone economies like Italy and Spain. That threatens to deliver a new sovereign debt crisis as happened after the Great Recession from 2010-2014, leading to… Continue reading
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Inflation: wages versus profits
The Governor of the Bank of England, Andrew Bailey set the attitude of the mainstream view on the impact of inflation in February, when he said that “I’m not saying nobody gets a pay rise, don’t get me wrong. But what I am saying is, we do need to see restraint in pay bargaining, otherwise it will… Continue reading
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Inflation: wages versus profits
The Governor of the Bank of England, Andrew Bailey set the attitude of the mainstream view on the impact of inflation in February, when he said that “I’m not saying nobody gets a pay rise, don’t get me wrong. But what I am saying is, we do need to see restraint in pay bargaining, otherwise it will… Continue reading
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The sugar runs out
At the beginning of January, I posted my economic forecast for the world economy in 2022. I argued that, although the major capitalist economies were likely to expand during 2022, real GDP, investment and income growth was likely to be much slower than the fast rebound in 2021 from the global pandemic slump of 2020. Last… Continue reading
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ASSA 2022: part two – the heterodox
In this second post on the annual ASSA economics conference, I look at the papers and presentations made by radical and heterodox economists. These presentations are mostly under the auspices of the Union of Radical Political Economics (URPE) sessions, but the Association of Evolutionary Economics also provided an umbrella for some sessions. Continue reading
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Inflation and financial risk
Is inflation coming back in the major capitalist economies? As the US economy (in particular) and other major economies begin to rebound from the COVID slump of 2020, the talk among mainstream economists is whether inflation in the prices for goods and services in those economies is going to accelerate to the point where central… Continue reading
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Deflation, inflation or stagflation?
During the year of the COVID, global consumer and producer prices dropped fell. In some manufacturing-based economies, there was even a fall in price levels (deflation) eg the Euro area, Japan and China). Continue reading
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The fantasy world of the Long Depression by michael roberts
This week, the US Federal Reserve Bank decided to stop raising its policy interest rate for the rest of 2019. The Fed started hiking rates from near zero back in late 2016 on the grounds that the Long Depression (in economic growth, investment and employment in the US and in other major economies) was over. … Continue reading
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Inflation Hits Money and Lies By Joel S. Hirschhorn
How do the powerful keep the US population dumb and distracted? A key tactic has been using methodologies that produce totally misleading underestimates of key economic factors. First we learned that official unemployment figures are too low by a factor of two. Now, understand that the official rate of inflation hitting consumers is even more… Continue reading
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Mummies and Dummies: Leave Or Stay, The Egyptian Crisis Will Only Get Deeper With No Quick Fix Likely By Danny Schechter
The tomb may be the appropriate metaphor not only for wannabe President for forever Hosni Mubarak but also for the 30 plus year neo-colonial economic system that he has presided over. Not surprisingly Frank Wisner Jr, the former U.S. Ambassador and son of a CIA dirty tricksters, wants the President to stick around –in the… Continue reading
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Retirement no golden age in UK as pensions drop while costs rise — RT
British pensioners are going bankrupt faster than any other group in the UK, and the country’s Insolvency Service findings highlight how seriously those over 65 are struggling to keep their homes running, as costs rise. Continue reading
The New Dark Age 