An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
"... it’s all we've got until we have a huge policy sea change which probably only happens in the next recession." Yep.
The wildcard, which Reid does not mention, is Saudi Arabia. Effectively the Sauds control Western inflation via the price of oil. But the Sauds are bogged down in 2 disastrous wars (Syria & Yemen) and there is gossip about a palace coup. What happens if Saudi Arabia destabilizes, oil goes back to $100+, and stagflation sets in?
Subsidize foreign oil purchases as needed to keep it afforable and work on energy independence with the realization that energy costs are going to rise. One-off external price shock, no need to get excited.
Off topic, but may be of interest to some. Syriza budget implements dictates of European banks https://www.wsws.org/en/articles/2015/10/06/gree-o06.html
4 comments:
"... it’s all we've got until we have a huge policy sea change which probably only happens in the next recession." Yep.
The wildcard, which Reid does not mention, is Saudi Arabia. Effectively the Sauds control Western inflation via the price of oil. But the Sauds are bogged down in 2 disastrous wars (Syria & Yemen) and there is gossip about a palace coup. What happens if Saudi Arabia destabilizes, oil goes back to $100+, and stagflation sets in?
Subsidize foreign oil purchases as needed to keep it afforable and work on energy independence with the realization that energy costs are going to rise. One-off external price shock, no need to get excited.
Is he calling for termite control?
Off topic, but may be of interest to some.
Syriza budget implements dictates of European banks
https://www.wsws.org/en/articles/2015/10/06/gree-o06.html
I consider this article to be an obituary.
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