A new cold war is upon us, but only China is in a position to push it beyond the point of no return. That moment will come when China’s policymakers cross the Rubicon and decide to wean Chinese economic growth off the US trade deficit.
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Blair Fix caused a bit of a stir last week on economics Twitter with a cleaned up version of the above chart taken from his article on interest rates and inflation. My chart is a scatter plot of the U.S. annual CPI inflation rate versus the effective funds rate, from 1954-2022. The blue line is the best linear fit of the two variables. The “linear model” suggests that inflation is an increasing function of the nominal interest rate.
Blair was met with a predictable howl of indignation on Twitter. Why predictable? The belief that higher interest rates reduce inflation (with a technical twist I note below) is pretty much enshrined as an assumption in neoclassical economics. (I use “neoclassical” as a fancy-pants word to describe “mainstream academic economics,” as “mainstream” is somewhat ambiguous if we are not referring to academia.)
European nations are nearing a consensus on an interim prosecutor’s office to gather evidence for a future trial.
The post Momentum Grows on Special Tribunal to Prosecute Putin’s Aggression in Ukraine appeared first on The Intercept.
The US, one of the wealthiest and most powerful nations, stands alone as the only country to reject human rights such as the right to food and the rights of the disabled and children. Learn more about this alarming reality with Lee Camp.
The post 10 Ways The US Is Out Of Line With The Entire World appeared first on MintPress News.
Burkina Faso has officially cut ties with France and, like many African nations, has aligned with Russia as global power dynamics shift away from the Western sphere.
The post A Month’s Notice: Why Burkina Faso Ordered French Troops out of the Country appeared first on MintPress News.
Since 2007, the representative has had a consultancy with Chad Campbell, a former legislator who backed industry-supported bills and later lobbied for payday lenders.
The post Kyrsten Sinema Founded Consulting Firm With Arizona Figure Tied to Payday Loan Industry appeared first on The Intercept.