Will they do austerity to join Eurozone and give up fiscal policy space?

A tale of two economies – Greece and Iceland

external constraint DPRK had faced for decades due to the US sanctions loosened in part due to Ukraine war, allowing them to obtain more resources from abroad.

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Yea they thought they were like American financial sector (market depth, free Gov money etc) with single stock leveraged etfs. Nope.

damn even a threat makes him scared? Zohran explicitly said he doesn’t have foreign policy powers to target Bibi specifically in the speech. #SoyRight

Nothing ever happens with sovereign bond interest rates is a pretty good heuristic. They’re gambling on whether the Fed will raise rates (or keep it at current level for a long time).

Trump doing anti-treatlerism once again. He understands that US is exploiting Canada for its resources and giving to Canada US$ claims in return only enriching the capitalists and leaving the country poor in material terms.

yep definitely, the movement is not just CJP now. the Gov plan to co-opt the public anger against them and redirect it towards CJP failed.

CPI-ML and other left parties sympathize with the student movement as a whole, not just the CJP.

It’s very sus he’s going after just one minister instead of Modi or the BJP.

Also, he’s very into “apolitical” posturing. Every party is bad, including liberals and the left. Meanwhile, he isn’t doing any movement-building.

The protesters are from left and liberal student unions. I’ve not read about them protesting this close to government buildings before.

Will it fizzle out? Idk, but I definitely have more reason to see the movement as legit considering all the state repression. Not the CJP themselves, but the student unions and all.

Though I think there should be concerns about what will replace the fascist regime. The new governments in Bangladesh, Nepal, and Sri Lanka didn’t fix unemployment and followed “sound finance” austerity.

Anti-government protests in India

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My take: The Government tried controlled opposition psyop with the CJP thing, that’s why there was little state repression against them in the beginning, the state mostly accommodated. Favorable coverage from corporate-state media.

That was until today, when the movement turned out to be less controllable. The state has increased the repression, police beating up protesters, barricades around Gov buildings etc. So, back to being treated like how the farmers and protesters generally are treated like in India under the fascist regime.

Focus on fixing the foreign currency debt and the economy first. 😭

:polface: Nothing ever happens

Russia doesn’t need oil exports to function.

#SoyRight

All the discourse surrounding USAID on twitter shows how selfish some Americans are.

I do think USAID is a weapon for US influence but I also understand the funding sustains many lives.

However, the right wingers are saying it’s bad because “muh tax dollars”. All me me me bullshit.

The US and the West obtains cheap resources from the rest of the world, especially the global south and the world at best gets financial claims and/or the prices on third world output are forced down for extraction purposes.

The US doesn’t deserve third world output.

“Cyberpunk is cheaper on PS5 than PC due to secondary market”

Literally free on PC.

they do supply side nonsense, like saying Europe is doing bad because

Fixing that problem would mean bringing down energy costs, making labour markets more flexible, integrating markets for capital and services and culling unwise regulations.

Energy costs, fine. But rest is neoliberal junk.’

They have nothing, because the state isnt allowed to do anything. So all they can do is call for more ‘reform’.

reason.com 💀

it will be cheaper for people in the rent stabilized apartments. the argument is that capitalists wont invest as much in new housing given their rents are reduced. but that doesnt mean itll be expensive for everyone, ofc rent-stabilized dwellers will have it cheaper, also not all of housing stock is rent-stabilized, theres plenty of room for capitalists to build and rent seek.

government sponsored/built housing is a thing, it doesnt depend on capitalists’ ‘animal spirits’ or rents. unfortunately, the fiscal space for municipal govs is limited, lets see what taxes Mamdani comes up with.

True, but the exchange rate will move automatically if Germany is able to borrow and buy foreign currencies for fuel or whatever.

The issue with Eurozone is the member countries can’t borrow without risking interest rate going up. At extreme, the market won’t accept any rate due to default risk. Or that was the case before Draghi did “whatever it takes”. But even after, the members have been reluctant to spend since it all depends on the ECB, an organization most members have limited control over (combined with ideology).

Germany, I’m not sure. It’s debt does have lowest spreads compared to the ECB floor rate. But even here, the market can threaten a left leaning Government wanting to move away from neoliberalism, and ECB itself can refuse to provide credit.

But yep, moving away from neoliberal policy for any Euro user would require leaving the union and setting up an actual central bank that has the obey what the sovereign says.