retepelyod.bsky.social
Global macroeconomics/politics/agency/warming. Here to talk straight, not to stroke egos. NIESR visitor.
https://www.youtube.com/watch?v=DJo_fs15aE8
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Prolific Poster
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It may need to build such a mechanism. But to eject Greece with an open default in mid 2010 would have risked the entire Euro enterprise, not least given the state of the rest of the PIIGs then. The “remainers” & ECB then had absolutely nothing in place then to contain the aftershocks of Grexit.
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In June 2010? With a confrontational default?
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Sure.
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3/3 Maybe Ben, as a first rate economist, deliberately quoted the “authorities” as he did—sans trade off framing—to reveal by its omission how “high fallutin” and profoundly impractical their thinking was—and, more importantly, is.
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2/3 seriously grasps that British suppression of much Indian productive potential should obviously be reversed, while otherwise maintaining trade. And sadly, the conclusive evidence that early US tariffs did little for output and much for prices and so ultimately provoke US civil war is overlooked.
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My interpretation.
They were offered a choice between asserting their interests as women (via a black woman) versus asserting their interests as white people. They chose the latter.
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Splendid idea. Actually social !
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Yes, but the risk in that assumption is that consumers, while accelerating tariff exposed purchases, cut other purchases so the control is not unaffected.
And even more significantly, year-on-year is far too long a window for this … far better to track one month seasonally adjusted annualized.
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That depends a lot on what you think the counterfactual was.