In the recent Wall Street Journal article “Inflation Surge Earns Monetarism Another Look,” Greg Ip writes that a recent surge in inflation is not likely to bring authorities to reembrace monetarism. According to Ip, money supply had a poor record of predicting US inflation because of conceptual and definitional problems that haven’t gone away.
Η απόφαση του ΕΔΔΑ εκθέτει ανεπανόρθωτα την κυβέρνηση Σαμαρά, για πρακτικές που εφαρμόζει και σήμερα το Μαξίμου ● Γράφουν στην «Εφ.Συν.» εκπρόσωποι των τριών από τις πέντε οργανώσεις που προσέφυγαν στο ΕΔΔΑ για λογαριασμό των επιζώντων.
The United States maintains a list of countries that it considers as “state sponsors of terrorism.” There are currently four countries on that list: Cuba, North Korea, Iran and Syria. The basic idea behind this list is that the U.S. State Department determines that these countries have “provided support for acts of international terrorism.” Evidence about those “acts” are not provided by the U.S. government. For Cuba, there is not one shred of evidence that the government has offered any such support to terrorism activities, in fact, Cuba has—since 1959—been a victim of acts of terrorism by the United States, including an attempted invasion in 1961 (Bay of Pigs) and repeated assassination attempts against its leaders (638 times against Fidel Castro).
“The alarming amendments offered by the Biden Administration to the WHO’s International Health Regulations would grant new unilateral authority to [WHO] Director-General Tedros to declare a public health crisis in the United States or other sovereign nations, without any consultation with the U.S. or any other WHO member. Specifically, the Biden Amendment would strike the current regulation that requires the WHO to ‘consult with and attempt to obtain verification from the State Party in whose territory the event is allegedly occurring in,’ ceding the United States’ ability to declare and respond to an infectious disease outbreak within the United States, dependent on the judgment of a corrupt and complicit UN bureaucracy.” — Rep. Chris Smith, ranking member of the House Global Health Subcommittee, May 18, 2022.
L’ancien président angolais est décédé ce vendredi à Barcelone. Retour sur un règne sans partage.
José Eduardo dos Santos passait pour un autocrate discret. Il a marqué l’histoire de son pays pendant des décennies. Déjà à 16 ans, il intégrait le Mouvement populaire de libération de l’Angola (MPLA) alors que son pays cherchait à obtenir son indépendance du Portugal.
Inflation and the Future of Economic Stimulus
Two years ago, I predicted in Foreign Affairs that the COVID-19 recession, coming on top of the financial crisis of 2008, would lead rich democracies to redefine the outer limits of their monetary and fiscal power, ushering in an “age of magic money.” Because central banks had a long record of containing inflation, the penalty for profligacy would likely not materialize; supersized stimuli could coexist with stable prices. Of course, the success of this experiment would depend on the continued inflation-fighting credibility of central banks, the Federal Reserve foremost among them. “If the Fed loses its independence, the age of magic money could end in catastrophe,” I noted.
This week, France repatriated 16 women associated with the so-called Islamic State terrorist group and 35 children from camps in northeastern Syria.
Most states that have repatriated citizens have brought back women and children, including unaccompanied minors, but the plight of men and older boys still in detention, remains dire.
After weathering numerous storms that would have sunk others, Boris Johnson’s time as prime minister comes to an ignoble end, mired in scandal and having lost the support of nearly all his MPs.
The resignation didn’t come out of nowhere – Johnson was already losing support from his party, narrowly surviving a confidence vote in early June. Just two weeks later, things were looking even grimmer, after losing two byelections in supposedly safe seats.
The US dollar has been on a major surge against major global currencies in the past year, recently hitting levels not seen in 20 years. It has gained 15% against the British pound, 16% against the euro and 23% against the Japanese yen.
The recent dramatic events that led to the resignation of UK prime minister, Boris Johnson, on July 7 2022 raise the issue of how politics – and economic policy uncertainty more specifically – affects the UK economy. The answer, of course, is that it does, and sometimes for as much as two years.