The Euro Without German Industry

By Michael Hudson

The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic relief, even calm. Disabling these pipelines ends the uncertainty and worries on the part of US/NATO diplomats that nearly reached a crisis proportion the previous week, when large demonstrations took place in Germany calling for the sanctions to end and to commission Nord Stream 2 to resolve the energy shortage.

The Euro Without German Industry

Larry Summers warns unemployment must rise to cool inflation

Ex-Treasury Secretary Larry Summers warned that millions of currently employed Americans must lose their jobs in order for the Federal Reserve to succeed in its bid to cool inflation.

Larry Summers warns unemployment must rise to cool inflation

Related:

Larry Summers Says US Needs 5% Jobless Rate for Five Years to Ease Inflation

Maybe he can ship some more jobs overseas [/sarcasm]?! I’d suggest shipping him, overseas, but I wouldn’t even wish that on my enemy!

Old Normal vs New: From 1980s Neoliberalism to the ‘Great Reset’

Old Normal vs New: From 1980s Neoliberalism to the ‘Great Reset’

Many people waste no time in referring to this as some kind of ‘Marxist’ or ‘communist’ takeover of the planet because a tiny elite will be dictating policies. This has nothing to do with Marxism. An authoritarian capitalist elite – supported by their political technocrats – aims to secure even greater control of the global economy. It will no longer be a (loosely labelled) ‘capitalism’ based on ‘free’ markets and competition (not that those concepts ever really withstood proper scrutiny).