Trump has no inkling of comparative advantage; second and worse,
he does not understand that the trade balance is determined by aggregate supply and demand, not by the sum of bilateral balances.
Martin Wolf Financial Times 19 November 2024
https://www.ft.com/content/67a36786-8c79-41a2-8f22-3092b0a74d19
Trying to close current account deficits with trade tools could cause serious damage
Risk of new eurozone crisis is rising, warns central bank
ECB said investors were becoming increasingly concerned about government borrowing across the single currency bloc, which has barely grown in recent years.
In its latest financial stability review, it said:
”Headwinds to economic growth from factors like weak productivity make elevated debt levels and budget deficits more likely to reignite debt sustainability concerns.”
https://www.telegraph.co.uk/business/2024/11/20/new-eurozone-crisis-risk-stagnant-eu-warns-ecb/
https://www.ecb.europa.eu/press/financial-stability-publications/fsr/html/index.en.html
https://englundmacro.blogspot.com/search/label/ECB
Le Pen threatens to bring down French government over budget dispute
EU to Slam France Over Budget Deficit
Ukraina stänger av rysk gas om 42 dagar
https://www.dn.se/ekonomi/ukraina-stanger-av-rysk-gas-om-42-dagar/
Ryssland stoppar gasleveranserna till Österrike från och med lördag
Ukraine fires UK-supplied Storm Shadow missiles into Russia for first time
https://www.bbc.com/news/live/c20726y20kvt
Kina bygger flygfält
Putin is Terrified as China Gains Ground in Siberia
Austria set to open way for Bulgaria and Romania to gain full Schengen access
Financial Times 20 November 2024
https://www.ft.com/content/7805349d-2406-495a-b50b-b2bdaad5c78e
Drömmen om gränslöst Europa
Wall Street återhämtade sig
Stockholmsbörsen inleder onsdagens handel med relativt muntra miner.
Strax innan USA-börsernas öppning vände börsen till minus.
Därmed ser Stockholmsbörsen ut att stänga på minus för fjärde dagen i rad.
Stockholmsbörsen sjönk för fjärde dagen i rad
Change is the sum of fundamental trends, the gradual elimination of accumulated extremes, and the random arrival of new shocks.
Before discussing valuations, it’s critical to emphasize that valuations are not a timing tool.
Valuations are enormously informative about the prospects for long-term investment returns, and potential downside risk over the complete market cycle.
John P. Hussman November 2024
Det har varit många tunga år för oss björnar
What Triggered the Crash? - Hussman
Hussman
US to send antipersonnel mines to Ukraine
Spain legalize hundreds of thousands of undocumented migrants
Joint Expeditionary Force
där Sverige och nio andra nordeuropeiska länder ingår har funnits i tio år
Många hade nog hoppats och trott att den nya EU-kommissionen skulle segla igenom utan vidare.
Där står hon, von der Leyen, i glad och varm aprikosfärg
Martin Wolf Best books of 2024: Economics
The cult of Jordan Peterson
What the Canadian intellectual gets right about young men
Millions despise him. In 2017 academics at the University of Toronto signed an open letter to take away his tenure, in part due to his objection to being required to use gender-neutral pronouns.
His most famous work, “12 Rules for Life” fans loved it and bought over 10m copies.
Dagen innan
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