The Fed knows inflation is a problem born of insufficient supply that only governments can tackle. But that doesn’t look like stopping it from pushing the US economy, and everyone else’s, into recession.
The worst-performing eurozone countries are mired in depression or deep recession; their condition is worse in many ways than what economies suffered during the Great Depression of the 1930s. The best-performing eurozone members look good, but only in comparison.This system cannot and will not work in the long run: democratic politics ensures its failure. Only by changing the eurozone’s rules and institutions can the euro be made to work.
If China had bombed thousands of U.S. factories over the past decade, America would respond. But the nation has done virtually nothing about thousands of factories closed by trade violations.
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