Words can hardly describe what is currently happening in Argentina. The man with the chainsaw has actually won the presidential elections by a landslide. Javier Milei, the self-proclaimed anarcho-capitalist, has chased the ruling Peronists out of office and, if he even halfway fulfils his “election promises”, …
In the European Monetary Union, as Eurostat has just reported, consumer prices rose by only 2.9 percent in October. After rates below two percent were recorded for some countries in the previous months already, the statistics for October also show only 3 percent for Germany in the European harmonised index. …
In English there is the beautiful expression of the “elephant in the room”, which is very big, but seemingly not discovered by anyone. People talk about all kinds of things that are in the room, only the elephant does not appear. …
When a high-ranking European policymaker like Christine Lagarde gives a keynote speech on “policymaking in an age of shifts and breaks” at a meeting of the world’s most important central bankers, one should listen carefully. Because that is indeed what matters in this world: how to manage the inevitable structural change without making serious macroeconomic mistakes. …
