Dear friends. Find below some short personal comments & insights on recent articles, posts, tweets, videos, that I read/watch and find interesting to share.
I think Fareed Zakaria needs to take into account the following: compare where GDP and GDP per capita is now in Greece (2024) compared to the time before the bailouts and the economic crisis (2008). Also, to compare total government and private debt now and back then, for his recent analysis:
This debt will never be payed. Only transferred to the next generations. What will the next US government do? Historically deficit is more important for political decisions, short and medium term.
Recession is “selling”. But aside from that, let’s not forget the country’s dependence on Russian gas and decrease in industrial production which hurts exports and budget surpluses. Global inflation and geopolitical instability only worsen the current economic situation in Germany.
Historically, central banks in UK, France, Netherlands, USA, have played a vital role in creating and circulating the official currency in their economies.
The inflationary powers and factors remain, geopolitically and internally for Western countries. Expect no significant rate cuts in 2024.
What would you expect when persistent inflation also raises nominal wages in labour markets?
-EK
EFSTATHIOS KASSIOS 
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